Tag Archives: Bloomberg News Agency

European natural gas rose as forecasts showed the weather turning cooler than previously estimated next week. Futures for delivery in March rose as much as 11%. Some weather models are showing temperatures dropping again after a warm spell, potentially boosting demand for gas and forcing more withdrawals from fuller-than-normal storage …

European natural gas dropped with fuller-than-normal stockpiles countering higher demand, while an ongoing icy spell was forecast to end next week. Benchmark futures fell as much as 11%, extending Monday’s decline. The frigid weather has raised gas usage for heating, but high storage levels and strong deliveries of liquefied natural …

European natural gas fluctuated with Norwegian supplies expected to drop to the lowest in more than two months in the middle of a cold snap that’s boosting demand. Available capacity at several Norwegian facilities has been reduced by works and orders for shipments have fallen. While flows from the country …

Europe is still awash with liquefied natural gas despite a crash in benchmark prices as demand in Asia remains lackluster. A few weeks ago, it became more profitable to deliver US LNG to Asia than to Europe, but that premium has been insufficient to lure cargoes away from a region …

China is snapping up cargoes of crude that would normally head to Europe, spooking the continent’s physical oil traders who’ve just seen imports from Russia all but halt at a time when local demand is rising. The world’s largest oil importer already bought 5 million barrels of mostly-Kazakh crude for …

Europe is set for the warmest January in decades, easing an energy crunch that has hammered the region for months. Mild conditions are likely to persist across the region until the end of the month, with a strong polar weather system inhibiting cold outbreaks, according to forecaster Maxar Technologies Inc. …

Natural gas prices in Europe fell back to pre-war levels, as a bout of mild weather reduced demand and eased fears of a prolonged supply crunch. Benchmark futures fell as much as 11% as a warm spell curbs heating demand and blustery conditions cut use of gas in power generation. …

European natural gas prices started the new year declining as mild weather curbed demand. Benchmark futures dropped as much as 7.9% to the lowest level since February 21, extending three weeks of net declines. Weather forecasts point to temperatures above seasonal norms for most of the region in the next …

Russia may reduce its oil output by 500,000-700,000 bpd in early 2023 in response to the G-7 price cap on the nation’s crude exports, according to Deputy Prime Minister Alexander Novak. “We are ready to partially cut our production early next year,” he said in an interview with Rossiya-24 TV …

Oil took over from natural gas as the leading fuel for power plants in New England, a significant switch that signals how the grid is desperately trying to keep the lights on in the face of a winter massive storm. The six-state grid relied on oil for at least a …