U.S. natural gas futures gained about 3% to a fresh 13-year high on Thursday on a
reduction in daily output and an increase in fuel flowing to liquefied natural gas (LNG) export plants.
Oil prices rose on Thursday, extending a cautious rally this week on signs of tight supply while the European Union wrangles with Hungary over plans to ban imports from Russia, the world's second-largest crude exporter, after it invaded Ukraine. Brent crude futures gained 87 cents, or 0.8%, to $114.90 a barrel at 1001 GMT.
U.S. natural gas futures rose about 2% to a fresh 13-year high on Wednesday as power
generators and liquefied natural gas (LNG) export plants consumed more of the fuel.
Years of under-investment in mining of metals essential to energy transition, supply shocks and high energy prices will continue to drive commodity prices higher, Eurasian Resources Group Chief Executive Benedikt Sobotka said on Wednesday.
Years of under-investment in mining of metals essential to energy transition, supply shocks and high energy prices will continue to drive commodity prices higher, Eurasian Resources Group Chief Executive Benedikt Sobotka said on Wednesday.
U.S. natural gas futures jumped about 4% to a fresh 13-year high on Wednesday as power
generators and liquefied natural gas (LNG) export plants consumed more of the fuel.
European prompt power prices for the coming days fell on plenty of wind power and weakening demand on Wednesday ahead of a holiday on Thursday, which ushered in lower industrial and business activity in the rest of the week. Germany's Friday baseload, on a bridging day after May 26's Ascension Day, traded at 66 euros per megawatt hour at 0850 GMT, down 64% from Wednesday delivery.
Fujairah Oil Industry Zone on Wednesday published the following inventory
data for oil products for the week ended May 23, according to industry information service S&P
Global Commodity Insights.
Oil prices rose on Wednesday, buoyed by tight supplies and as U.S. refiners drove processing activity to their highest level since before the coronavirus pandemic started. Brent crude futures for July settled up 47 cents to $114.03 a barrel, while U.S. West Texas Intermediate crude for July delivery ended up 56 cents to $110.33 a barrel.
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