The U.S. and its European allies have approached several major natural-gas importers in Asia, including China, about sending their fuel to Europe if a conflict over Ukraine erupts, according to people familiar with the matter. President Joe Biden’s administration has spoken to officials in Japan, South Korea and India as …
Read More »European Gas Market Sentiment is Bearish, as US and Asian Prices Rise
Global gas markets are painting distinctly different pictures this week as supply uncertainty in Asia supports prices, but European markets are starting to see downside potential on the horizon. Mild weather in Europe and frigid forecasts for the US will drive price behavior in the coming days. Milder temperature forecasts …
Read More »EU in Talks with Azerbaijan on Gas Supplies
The European Union is negotiating possible gas supplies with the United States, Qatar and Azerbaijan in case Russia cuts of stops its gas deliveries, EU foreign policy chief Josep Borrell said on Sunday, Trend reports citing the press service of EU. “We have to be prepared in case diplomacy fails. …
Read More »Europe Looks to U.S. for Help in Lining up Natural-Gas Supplies in Event of Russian Attack against Ukraine
European officials are scrambling to lock down energy supplies they would need to keep their economies churning if hostilities around Ukraine imperil natural gas piped from Russia, and have turned to the U.S. for help finding backup sources beyond Moscow’s control. In recent weeks, as Russia has positioned more than …
Read More »EU, US Pledge Cooperation on Energy Security amid Russia Threat
European Commission President Ursula von der Leyen and US President Joe Biden pledged on Friday (28 January) to cooperate on guaranteeing Europe’s and Ukraine’s energy security amid a standoff triggered by Russia amassing troops at Ukraine’s border. In a joint statement put out on Friday – the result of several …
Read More »US Oil may Retest Resistance at $87.86
US oil may retest a resistance at $87.86 per barrel, a break above which could lead to a gain to $89.45. The rise on Wednesday confirmed an extension of the uptrend, which is riding on a wave 5. Based on the length of the wave 1, the wave 5 may …
Read More »The U.S. is Preparing European Gas Markets for a Russian Invasion
The U.S. Administration is in talks with energy companies and major gas-producing countries globally about the potential for a large supply of natural gas to Europe in case Russian deliveries are interrupted if Russia invades Ukraine, U.S. officials with knowledge of the talks told CNN. Russia, which supplies over one-third …
Read More »Declining U.S. Petroleum Inventories Push Oil Prices Higher
Despite a crude oil inventory build in the latest EIA report, U.S. commercial petroleum stocks have declined in most of the weeks in the past year and a half, falling below seasonal averages for the past five years and even below the five-year average before the pandemic. The continuously declining …
Read More »EIA: US Continue to Upscale Iraqi Crude Imports
US imports of crude oil from Iraq averaged 434 thousand barrels per day (bpd) last week, the Energy Information Administration (EIA) said on Sunday, amid a growing appetite for the black gold during the same period. In its weekly report on U.S. oil imports, EIA Said that the U.S. imports …
Read More »U.S. Fossil Fuel Production Set to Hit Record Highs in 2023
America’s production of fossil fuels is expected to hit a record high in 2023, as continued improvements in drilling efficiency in oil and gas and high enough oil prices will support increased output of all fossil fuels, including coal, the U.S. Energy Information Administration (EIA) said on Friday. The combined …
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