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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 »
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) – A profound proposed reform of Venezuela’s hydrocarbons law would allow foreign and local companies to operate oilfields on their own through a new contract model, commercialize output and receive sale proceeds even if acting as minority partners of state company PDVSA, drafts seen by Reuters on Thursday showed. Venezuela’s interim President Delcy Rodriguez …
By Weilun Soon Rates to ship crude on tankers are surging more widely across the world after the US moved to exert control over Venezuelan flows, a trade once primarily handled by a dark fleet of aging vessels. Shipowners are deploying legitimate tankers near the US Gulf in anticipation of higher demand for vessels instead …
Venezuela’s Oil Shakeup Ripples Even Wider Across Tanker Market Read More »
By Sing Yee Ong, Elena Mazneva, and Julian Hast US natural gas futures surged about 75% in three days, rocketing to the highest price since 2022, as frigid weather sweeps across major markets for the heating fuel and forces traders to cover bearish positions. More than 175 million people across the country will face snow, …
Natural Gas Soars 75% in Three Days as Arctic Cold Grips the US Read More »
