By Julian Lee Oil traders seeking to plot the path for prices this year are juggling sharply different assessments of the supply-demand outlook, from a huge surplus to a broadly balanced market. The world’s three main forecasting agencies — the International Energy Agency, the US Energy Information Administration and the Organization of the Petroleum Exporting …
Oil Market’s Watchmen Are at Loggerheads Over 2026 Outlook Read More »
LONDON, Jan 26 (Reuters) – Britain, Germany, Denmark and other European countries will sign a clean energy pact at a summit in Hamburg on Monday, pledging to deliver 100 gigawatts (GW) of offshore wind power through large-scale joint projects, the British government said. The agreement comes days after U.S. President Donald Trump stepped up criticism …
European Nations Reinforce Wind Power Commitment With 100 GW Pledge Read More »
By Kate Abnett EU to halt Russian LNG by end-2026, pipeline gas by 2027 Companies face penalties for non-compliance with gas ban Hungary to challenge ban in court BRUSSELS, Jan 26 (Reuters) – European Union countries on Monday gave their final approval to ban Russian gas imports by late 2027, making their vow to cut …
EU Countries Give Final Approval to Russian Gas Ban Read More »
By Ahmad Ghaddar and Olesya Astakhova LONDON/MOSCOW, Jan 26 (Reuters) – OPEC+ is expected to keep its pause on oil output increases for March at a meeting on Sunday, three OPEC+ delegates told Reuters, with prices rising due to a drop in Kazakhstan’s oil production. The meeting of eight members of OPEC+, which pumps about …
OPEC+ Likely to Maintain Oil Production Pause for March as Prices Climb, Sources Say Read More »
(Reuters) – U.S. natural gas futures soared by a record 89% over five days to a three-year high on Monday after an Arctic blast at the weekend froze oil and gas wells, cutting gas production to a two-year low on Sunday. On Monday, front-month gas futures for February delivery on the New York Mercantile Exchange …
US Natgas Futures Soar 89% Over Five Days as Freezing Wells Cut Output to Two-Year Low Read More »
US natural gas jumped by almost 20% as freezing weather swept across much of the country, boosting heating demand and disrupting supplies. Front-month futures soared above $6 per million British thermal units for the first time since 2022. That followed a 70% rally last week, the biggest weekly advance in records going back to 1990. The …
US Natural Gas Jumps Almost 20% as Arctic Blast Takes Hold Read More »
Ron Bousso (Reuters) – An Arctic blast sweeping across the U.S. Northeast and Midwest has triggered a sharp rally in natural gas prices on fears of production disruptions. The spike has reverberated across overseas markets, underlining the growing globalization of the U.S.-dominated liquefied natural gas trade. U.S. natural gas futures have surged by almost 70% over the …
When the US Freezes, the Global LNG Market Catches a Cold Read More »
Houston firms eye Venezuela’s vast oil reserves amid political uncertainty Smaller investors see Venezuela as high-risk, high-reward opportunity US sanctions complicate oil trade, investment in Venezuela (Reuters) – In a downtown Houston bar, Matthew Goitia, a director at Pelorus Terminals, lays out his early idea to refurbish and build marine terminals that can blend and …
US Oil Capital Houston Buzzes as Industry Limbers up for Venezuela Oil Rush Read More »
Power prices in the largest U.S. grid rose sharply on Sunday as demand in a region with the world’s largest concentration of energy-hungry data centers surpassed forecasts during a deep freeze gripping half the country. Real-time wholesale electricity prices topped $1,800 per MWh early Sunday in Dominion Energy’s Virginia territory, up from $200 per …
Power Prices Surge as Winter Storm Spikes Demand in US Data Center Alley Read More »
Summary Snow, sleet, freezing rain, dangerous cold expected Sunday Federal emergency declarations approved in at least 12 states Outages impact states including Mississippi, Louisiana, Texas More than 10,000 flight cancellations on Sunday (Reuters) – More than 1 million customers in the U.S. as far west as New Mexico were without electricity and over 10,000 flights …
US Storm Leaves 1 Million Without Power, Forces 10,000 Fight Cancellations Read More »
