U.S. natural gas futures gained about 2% on Tuesday on forecasts for colder weather
and more heating demand next week than previous estimates, but expectations that Freeport LNG will delay ...
A Nigerian court has charged 26 men with conspiracy to commit a maritime offence and attempting to illegally deal in crude oil after authorities accused their supertanker of sailing in Nigerian waters without authority. The captain is an Indian national while the crew members are from Poland, India, Sri-Lanka and Pakistan, court papers showed.
Hedge funds have stepped up financing of trade in commodities such as oil, gas, cocoa and copper as banks hit the limit of what they can risk due to extreme market volatility and higher interest rates making them less competitive. Commodity trade finance covers many types of loans, typically from banks, that facilitate global movement of goods from wheat to gasoline.
U.S. natural gas futures rose about 1% on Tuesday on forecasts for colder weather
and more heating demand next week than previously expected, but expectations that Freeport LNG will delay the
planned ...
- Russian oil imports into the European Union fell to 1.4 million barrels per day in October from 2.5 million bpd in January, according to the International Energy Agency. India, China and Turkey have more than made up for that drop in demand for Russian crude, ramping up their purchases by about 1.2 million bpd by this summer, the IEA said in its monthly oil market report.
European prompt power prices fell on Tuesday, with higher wind speeds on the cards while thermal and nuclear power supply was stable and demand broadly unchanged. "A substantial increase in wind power supply underpins a strong bearish signal for tomorrow's outlook," Refinitiv analysts said in a note. Day-ahead power in Germany was down 11.3% at 158.8 euros per megawatt hour at 0930 GMT.
Singapore's Pavilion Energy, Finland's Gasum and China's CNOOC Gas and Power Group have signed an agreement to collaborate on a global network for supplying liquefied natural gas as fuel for ships, the companies said in a joint statement on Tuesday.
Oil prices rose on Tuesday and settled higher after news that oil supply to Hungary via the Druzhba oil pipeline has been temporarily suspended due to a fall in pressure.
Oil prices extended losses in early Asian trade on Tuesday after OPEC cut its 2022 global demand forecast, while rising COVID-19 case numbers in China clouded the outlook for fuel consumption in the world's top crude importing nation. Brent crude futures fell 39 cents, or 0.4%, to $92.75 a barrel by 0133 GMT after settling down 3% on Monday.
U.S. natural gas futures edged up about 1% on Monday, paring earlier gains of over
8%, on expectations that Freeport LNG will delay the restart of its liquefied natural gas (LNG) export plant
in ...
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