US natural gas futures pared a record breaking three-day rally, after traders finished exiting short positions and the market braced for a historic winter storm. Front-month contracts dropped as much as 7.6% to $4.660 per million British thermal units on Friday, after surging 63% over the previous three sessions. Prices were still on track for their biggest …
US Natural Gas Falls After Record-Breaking Three-Day Rally Read More »
The oil-services giant is moving idled equipment overseas as US shale growth slows Halliburton Co. just offered some of the best evidence yet that fracking, which turned the US into the biggest oil and gas producer, is spreading around the world. The Houston-based company, which fracks more wells than anyone, said on Wednesday that it has shifted …
Halliburton Exports Its Oil Gear as Fracking Goes Global Read More »
Takeaways by Bloomberg AI The Trump administration has no plans to directly provide security to oil producers in Venezuela, according to Energy Secretary Chris Wright. Wright said the US involvement in controlling the flow of funds in Venezuela gives the US leverage to reduce criminality and improve business conditions. Wright plans to travel to …
US Won’t Offer On-the-Ground Security to Oil Firms in Venezuela Read More »
Takeaways by Bloomberg AI The Trump administration is canceling almost $30 billion of financing from the Energy Department’s green bank after reviewing transactions approved under former President Joe Biden. The Energy Department plans to revise another $53 billion of funding and has eliminated about $9.5 billion in financing for wind and solar projects. The Energy …
US Is Canceling Almost $30 Billion in Biden-Era Energy Loans Read More »
Summary LNG futures to be listed on Shanghai Futures Exchange Contracts could shift market influence to China from West China’s LNG imports forecast to rise 12% this year (Reuters) – China is set to offer domestic-listed, yuan-denominated liquefied natural gas (LNG) futures contracts as soon as next month, people with knowledge of the matter said, …
China to Offer LNG Futures as Soon as Next Month – Sources Read More »
Summary Oil prices had dropped on Thursday as Greenland tension subsided Supply disruption concerns offered price support Kazakhstan’s Tengiz oilfield yet to resume output (Reuters) – Oil prices rebounded on Friday after U.S. President Donald Trump renewed threats against Iran, raising concerns of military action that could disrupt crude supplies while there are outages …
Oil Prices Rise on Trump’s Iran ‘Armada’ Comments and Kazakh Outage Read More »
(Reuters) – Valero has bought a cargo of Venezuelan crude oil, two sources said on Wednesday, one of the first deals by U.S. Gulf Coast refiners that are part of Washington’s agreement with Caracas to export up to 50 million barrels. Phillips 66 has also purchased a cargo, one of the sources said. Both bought …
Valero, Phillips 66 Buy Venezuelan Oil Cargoes as Part of Washington’s Deal With Caracas Read More »
(Reuters) – The Trump administration is allowing China to purchase Venezuelan oil but not at “unfair, undercut” prices at which Caracas sold the crude before the U.S. removed its leader Nicolas Maduro, an administration official said on Thursday. While the oil will be sold in the global marketplace, the U.S. administration has required that the …
(Reuters) – Winter electricity demand on the largest U.S. power grid – the PJM Interconnection – is expected to set an all-time record next week as large swaths of the United States brace for an Arctic blast of cold weather. PJM’s seven-day forecast on Thursday morning predicted 144,465 megawatts of demand on January 27. That …
Largest US Electric Grid Expects All-Time Record Winter Demand Read More »
(Reuters) – Investment firm Kimmeridge plans to nominate former Pioneer Natural Resources CEO Scott Sheffield to Coterra Energy’s board, the Wall Street Journal reported on Thursday, citing people familiar with the matter. Kimmeridge has said Coterra’s board must reassess its leadership structure and appoint an independent, non-executive chair, the report said, adding that it expects …
Kimmeridge to Nominate Scott Sheffield to Coterra Energy Board, WSJ Reports Read More »
