Asian liquefied natural gas traders are rushing to secure shipments from the U.S., where the fuel is among the cheapest in the world despite what’s turning into the steepest price run in two decades. Firms in Japan, these biggest importers, are seeking to procure LNG specifically from the U.S., and are in discussions with exporters

Oil output in America’s most prolific shale patch is getting closer to levels seen before the pandemic-driven market crash, as crude prices surge. While total production in the U.S. is still lagging, the Permian Basin of West Texas and New Mexico is increasing output to an average 4.826 million barrels a day in October, according

Gazprom PJSC increased its 2021 price guidance for natural gas exports, while signaling caution on volumes it could ship, as Europe’s energy crisis worsens. The Russian gas giant, Europe’s biggest supplier of the fuel, reiterated that shoring up inventories at home was its top priority. Only after it has refilled its own storage facilities by

Dutch TTF and UK NBP natural gas prices hit all-time settlement highs on Monday—up 11% as the front-month contract is set to soon expire and the European gas crisis worsens. The front-month (October) contract TTFV1 was up by €6.635€ MWh on Monday afternoon, to €76.875, pushed higher in part by the contract rolling off this

The OPEC+ group lifted its production in August, but underinvestment and maintenance work has hampered the group’s ability to raise production—and supply could be insufficient to meet the world’s growing oil demand, Reuters suggested on Tuesday. Global oil demand has recently risen to near-record levels as global activity picks up steam despite the pandemic. In

The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 5.437 million barrels for the week ending September 10. It exceeded the analyst expectations who had estimated a loss of 3.903 million barrels for the week. In the previous week, the API reported a draw in oil inventories of 2.882

Asian LNG prices soared towards $20 per million British thermal units (mmBtu) this week as supply constraints in Europe provided competition for Asian buyers. The average LNG price for October delivery into Northeast Asia was estimated at about $19.90 per metric million British thermal units (mmBtu), up $2.70 from the previous week, industry sources said.

Oil headed for the biggest monthly loss since October as investors weighed the prospect of additional OPEC+ production and the restoration of crude output in the U.S. after Hurricane Ida. West Texas Intermediate fell 0.8% in New York and is down about 7% this month. While Gulf of Mexico crude producers are expected to gradually

The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 1.622 million barrels for the week ending August 20, bringing the total 2021 crude draw so far to more than 58 million barrels, using API data. Analysts had expected a loss of 2.367 million barrels for the week. In the

OPEC’s total petroleum production in the second half of this year is now set to be 600,000 barrels per day (bpd) lower than previous forecasts because of lower-than-expected ramp-up in output, the U.S. Energy Information Administration (EIA) said on Wednesday. The EIA revised down its estimate for OPEC’s production in the August Short-Term Energy Outlook