Natural Gas News

Source: Reuters

Energy crisis makes multi-year contracts fashionable again

World Oil


Energy crisis makes multi-year energy contracts fashionable again.

(Bloomberg) –U.S. manufacturers and other large energy users are starting to lock in natural gas and power costs for at least three years or longer to buffer against price surges …

Source: Reuters

EIA expects U.S. natural gas prices to stay high through the winter

World Oil


WASHINGTON – In its October Short-Term Energy Outlook, the U.S. Energy Information Administration forecasts that natural gas spot prices at the U.S. benchmark Henry Hub will average $5.67 per million British thermal units (MMBtu) between October and March, …

Source: Reuters

Head of Ukraine’s Naftogaz accuses Russia of blackmailing Europe over gas

Reuters


KYIV – The head of Ukraine’s state energy company Naftogaz on Monday said Russia was trying to blackmail Europe into certifying its Nord Stream 2 pipeline by keeping natural gas supplies lower.

Both the Kremlin and gas giant Gazprom …

Source: Reuters

Gazprom books fraction of gas transit capacity via Poland, ignores Ukraine

Reuters


MOSCOW – Russian gas giant Gazprom has booked about a third of offered additional gas transit capacity via the Yamal-Europe pipeline via Poland for November and has not booked any volumes via Ukraine, auction results showed on Monday.

Gazprom’s …

Source: Reuters

EQT’s CEO calls for more American shale investment to end energy crisis

World Oil


(Bloomberg) –The largest U.S. natural gas driller is using the global energy crisis to renew his call for more investment in domestic infrastructure such as pipelines, which he says will enable increased exports and ease shortages.

U.S. gas …

Source: CNBC

After the gas crisis, the Arctic could be Russia and Europe’s next flashpoint

CNBC


A new cold front could open up in the political tension between the European Union and Russia over energy. This time in the Arctic.

 

On Wednesday, the EU put forward proposals that could see it pushing to ban

U.S. rig count increased by 10 this week, at 543

U.S. rig count increased by 10 this week, at 543

Oil and Gas 360


This week’s Baker Hughes rig count shows that U.S. had an increase of 10 over last week, resulting in a total count of 543 rigs. Canada had an increase of 1 over last week, resulting in …

Source: Reuters

U.S. natural gas futures climb on winter inventory concerns

World Oil


HOUSTON (Bloomberg) –U.S. natural gas futures climbed after winter stockpiles of the furnace and power-plant fuel expanded less than expected, heightening concerns about adequate supplies going into the peak-demand season.

 

Gas prices have already more than doubled …

Source: Reuters

Putin’s pledge for more supply can’t stop Europe’s gas price surge

World Oil


(Bloomberg) –European gas futures continued their march upwards on Thursday, even after Russia pledged to deliver as much supply as the continent needs.

Europe’s largest gas supplier is ramping up deliveries in line with requests from customers and …

Weekly Gas Storage: Inventories increase by 81 Bcf

Weekly Gas Storage: Inventories increase by 81 Bcf

Natural Gas Inventories as of October 8, 2021

The EIA has released its natural gas inventory report, showing a net increase of 81 Bcf as of October 8, 2021.

Working gas in storage was 3,369 Bcf as of Friday, October …

Source: Reuters

Oil prices rally as IEA sees gas shortages boosting crude demand

World Oil

WTI crude futures rose 1.5% to near the highest level …

Source: World Oil

Putin ready to send more Russian gas to Europe, blames flawed policies for shortage

World Oil


MOSCOW (Bloomberg) – Russia is ready to deliver all of the natural gas that Europe needs, said President Vladimir Putin, blaming the continent’s current energy crisis on flawed policies rather than a lack of supply.

Europe’s largest gas …

Source: Yahoo Finance

Biden’s options to tame gas prices clash with his climate agenda

Bloomberg


President Joe Biden is under intensifying pressure to keep a lid on rising gasoline and natural gas prices that threaten the economic recovery and Democrats’ political ambitions.

But he has little power to control global energy markets.

“The toolbox …

Source: Reuters

Crude jumps to multi-year highs on global energy crunch

Reuters


LONDON  – Oil prices rose by about 2% on Monday, extending gains as an energy crisis grips major economies amid a pick-up in economic activity and restrained supplies from major producers.

Brent crude was up $1.45, or 1.8%, at …

Source: Reuters

Qatar powerless to ease global energy crisis

Reuters


DOHA/LONDON – Qatar, the world’s largest seller of liquefied natural gas (LNG), told consumers it was powerless to cool energy prices prices as British steelmakers said they could be forced to halt output in the face of soaring costs.…

U.S. rig count increased by 5 this week, at 533

U.S. rig count increased by 5 this week, at 533

Oil and Gas 360


This week’s Baker Hughes rig count shows that U.S. had an increase of 5 over last week, resulting in a total count of 533 rigs. Canada had an increase of 2 over last week, resulting in …

Weekly Gas Storage: Inventories increase by 118 Bcf

Weekly Gas Storage: Inventories increase by 118 Bcf

Natural Gas Inventories as of October 1, 2021

The EIA has released its natural gas inventory report, showing a net increase of 188 Bcf as of October 1, 2021.

Working gas in storage was 3,288 Bcf as of Friday, October …

Source: bloomberg.com

Today’s global energy crisis is just the first in the “clean power” era

World Oil


(Bloomberg) –The world is living through the first major energy crisis of the clean-power transition. It won’t be the last.

The shortages jolting natural gas and electricity markets from the UK to China are unfolding just as demand …

Source: Reuters

Nord Stream 2 appeals decision that EU rules apply to pipeline

Nasdaq


Swiss-based Nord Stream 2 said it has appealed a court decision that confirmed the pipeline will not be exempt from European Union rules that require the owners of pipelines to be different from the suppliers of the gas that …

Source: Reuters

European natural gas prices hit new records as supply concerns grow

World Oil


(Bloomberg) –European natural gas and power soared to fresh records amid worsening fears over supply.

 

Global fuel shortages are resulting in surging energy prices, disrupting markets from the UK to China, as economies emerge from the pandemic. …

Source: Reuters

Canada escalates Michigan pipeline battle with decades-old treaty

World Oil


(Bloomberg) –The Canadian government invoked oil and gas transit rights under a decades-old treaty with the U.S. to stop Michigan’s attempt to shut down an Enbridge Inc. pipeline under the Great Lakes.

A 1977 agreement states Canada and …

Source: Reuters

Column-Hedge funds flock to oil as energy shortages worsen: Kemp

Reuters


LONDON – Rising oil prices and the spreading global shortage of coal, gas and electricity have drawn fresh buying interest from hedge funds and other money managers in oil-related derivatives contracts.

Portfolio managers purchased the equivalent of 42 million …

Source: Reuters

Fossil fuel demand shakes off pandemic in blow to climate fight

Reuters


LONDON – Demand for coal and natural gas has exceeded pre-COVID-19 highs with oil not far behind, dealing a setback to hopes the pandemic would spur a faster transition to clean energy from fossil fuels.

Global natural gas shortages, …

Source: CNBC

OPEC+ sticks to plan for gradual oil output hike, price roars higher

CNBC


OPEC+ agreed on Monday to stick to an existing pact to hike oil output by 400,000 barrels per day (bpd) in November, despite consumer calls for more crude and surging prices that threaten an economic recovery from the pandemic.…

Source: Reuters

EXCLUSIVE Commodity traders face big margin calls as gas prices soar

Nasdaq


LONDON – The world’s top commodity trading houses are being told by brokers and exchanges to deposit hundreds of millions of dollars in extra funds to cover their exposure to soaring gas prices, seven sources with direct knowledge of …

Source: Reuters

Oil prices may hit $100 this winter, spurring economic crisis, warns Bank of America

World Oil


SINGAPORE (Bloomberg) –The global energy crunch could help propel oil prices above $100 a barrel for the first time since 2014 and spur a global economic crisis, according to Bank of America.

Natural gas prices have already surged …

Source: Reuters

European gas prices hit all-time highs as Russian flows slump

Nasdaq


MOSCOW – European gas prices surged to all-time highs on Friday as Russia kept a tight lid on supply, signalling further price pressures on European consumers heading into the winter heating season.

Russian gas supplies via the Yamal-Europe pipeline …

U.S. rig count increased by 7 this week, at 528

U.S. rig count increased by 7 this week, at 528

Oil and Gas 360


This week’s Baker Hughes rig count shows that U.S. had an increase of 7 over last week, resulting in a total count of 528 rigs. Canada had an increase of 3 over last week, resulting in …

Source: Reuters

Explainer: Global energy shortage or a coincidence of regional crises?

Reuters


British gasoline stations running dry, surging power costs in the European Union ahead of winter, forced restrictions on energy use in China and rising oil, natural gas and coal prices.

You could be forgiven for thinking the world had …

Weekly Gas Storage: Inventories increase by 88 Bcf

Weekly Gas Storage: Inventories increase by 88 Bcf

Natural Gas Inventories as of September 24, 2021

The EIA has released its natural gas inventory report, showing a net increase of 88 Bcf as of September 24, 2021.

Working gas in storage was 3,170 Bcf as of Friday, September …