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EU Ministers Seek United Strategy on Energy Price Crisis

CDN and International News, Conventional Energy, Electricity Grid, Energy Topics & Technology, Latest, LNG, Natural Gas, Oil / By

By Jan Strupczewski EU finance ministers aim to prevent market fragmentation with any energy price support EU Commission warns any response must be targeted, temporary and fiscally limited EU proposes support for vulnerable households to avoid inefficiencies BRUSSELS, March 27 (Reuters) – European Union finance ministers will ​seek to coordinate on Friday their response to …

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Asian Refiners Switch From Dubai to Brent to Price US Crude, Sources Say

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By Florence Tan and Yuka Obayashi SINGAPORE, March 27 (Reuters) – Asian refiners are beginning to switch to pricing U.S. crude oil purchases against global benchmark ​ICE Brent instead of Dubai after the Middle East ‌marker spiked to record levels this month, three refining and trade sources said on Friday. The move could reduce liquidity …

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With Hormuz Still Shut, Options Market Signals Rising Risk of $150 Oil

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By Amanda Cooper and Robert Harvey Options market shows bets on $150 oil by end-April rising Open interest in $150 calls nearly 10 times larger than last month Oil is trapped in Gulf following U.S.-Israel conflict with Iran Brent crude set all-time high of $147 in 2008 LONDON, March 26 (Reuters) – Traders are ​piling …

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TotalEnergies to Honour All LNG Contracts Despite Qatar Outages

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By Forrest Crellin and Shadia Nasralla PARIS, March 26 (Reuters) – TotalEnergies’ (TTEF.PA) CEO Patrick ‌Pouyanne said on Thursday that the company made a decision not to declare force majeure to any of its liquefied ​natural gas customers, and that it would respect ​all the LNG contracts in terms of ⁠price and volume. Qatar, the …

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Yemen’s Houthis Ready to Join Iran War if Needed, Raising New Shipping Risk

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By Mohammed Ghobari and Emma Farge Houthis have track record of disrupting international shipping Iran-aligned group ready should need arise to join war, leader says Bab al-Mandab is a key choke point (Reuters) – Yemen’s Iran-aligned Houthi movement, whose attacks on the Red Sea caused international shipping and trade chaos during the Gaza war, stands …

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Europe Scales Back Climate Goals to Ease Iran War Energy Shock: Bousso

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(Reuters) – The European Union may be forced to scale back its flagship climate policies and geopolitical aims as the Iran war drives up energy prices – with lasting consequences for the bloc’s energy strategy. The energy crunch sparked by the conflict, now in its fourth week, has rattled Europe, which is heavily dependent on …

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Barclays Sees 13–14 Million bpd Oil Supply Loss From Prolonged Hormuz Disruption

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(Reuters) – Barclays said on Thursday that a prolonged closure of the Strait of Hormuz would likely lead to a 13-14 million barrels per day supply loss, noting that while the scale of the disruption is immense, so is the uncertainty around its duration. Exports from Yanbu and Fujairah have picked up in recent weeks …

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Iran Oil Shock Sets US Treasury Seismograph Twitching: Mike Dolan

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By Mike Dolan (Reuters) – The Iran oil shock has upended rate forecasts and roiled U.S. Treasury markets – driving volatility to its highest in nearly a year and forcing selling that is taking a serious toll on liquidity. The risk is that the tremors spread further. One of the key attractions of the U.S. …

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ADNOC CEO Calls Any Iran Curbs on Hormuz Passage ‘Economic Terrorism’

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(Reuters) – Abu Dhabi state oil company ADNOC’s CEO Sultan Al Jaber described any restriction of passage through the Strait of Hormuz by Iran as “economic terrorism”. “When Iran holds Hormuz hostage, every nation pays the ransom, at the gas pump, at the grocery store, at the pharmacy,” Al Jaber said in a speech in …

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Iran Threatens Attack on Regional Country if Iranian Island Occupied

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(Reuters) – Iran’s parliament speaker, Mohammad Baqer Qalibaf, said on Wednesday that intelligence suggests “enemies” are planning to occupy an Iranian island with support from a regional country which he did not name. “Iranian forces are monitoring enemy movements and if they take any step, we will attack vital infrastructure in that regional country in …

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