U.S. natural gas futures held near a three-week low on Friday on record output and forecasts for milder weather and lower heating demand than previously expected through early April. Front-month gas futures for April delivery on the New York Mercantile Exchange rose 0.5 cent, or 0.1%, to settle at...
General Energy News
US natural gas prices climb 2% to one-week high on record LNG flows, daily output drop
U.S. natural gas futures climbed about 2% to a one-week high on Wednesday on record gas flows to liquefied natural gas (LNG) export plants and another drop in daily output. Front-month gas futures for April delivery on the New York Mercantile Exchange were up 8.5 cents, or 2.1%, to $4.137 per...
Asia Distillates: Window activity stays thin; east-west narrows
Asia’s middle distillates markets were thinly discussed, though market sentiment turned slightly cautious to bearish given the narrower weak east-west arbitrage spread and worries of sufficient supplies. On spot refiner sales, China-origin barrels for April loading were on offer in the market,...
https://www.hellenicshippingnews.com/asia-distillates-window-activity-stays-thin-east-west-narrows/
US natgas prices hit over one-week low on mild weather ahead of storage report
U.S. natural gas futures fell to their lowest level in over a week on Thursday, on near record output and predictions of milder weather over the next two weeks, as investors awaited a federal report expected to show storage withdrawals last week were near normal for this time of year. Front-month...
US natural gas prices fall more than 5% on record output, milder weather outlook
U.S. natural gas futures fell more than 5% on Wednesday, driven by record production levels and predictions of milder weather over the next two weeks than previously expected, which could dampen heating demand and enable utilities to draw less gas from storage. Front-month gas futures for April...
Russia’s idle oil refining capacity estimated up 50% in March from previous plan
Russia’s offline primary oil refining capacity in March was revised up 49.7% from the initial plan for this month to 2.96 million metric tons, according to Reuters calculations based on data from industry sources, amid drone attacks. This is compared to 3.47 million tons of idle capacity last...
Gasoline refining margins rise on firm demand
Northwest European gasoline refining profit margins jumped by 85 cents to above $8 a barrel on Friday on brisk trading activity. A total of 10,700 metric tons of E10 gasoline barges traded, as Trafigura sold to Varo and BP. A further 29,000 tons of Eurobob E5 traded, 2,000 tons of which changed...
https://www.hellenicshippingnews.com/gasoline-refining-margins-rise-on-firm-demand/
US natgas prices slide 2% on record output, mild weather forecasts
U.S. natural gas futures slid about 2% on Wednesday on record output and forecasts for milder weather over the next two weeks than previously expected, which should allow utilities to pull less gas out of storage to heat homes and businesses than normal for this time of year. On its last day as the...
Nigeria LNG operating at a third of capacity because of theft
Nigeria LNG, a major gas exporter, is operating at only a third of its capacity due to illegal connections by thieves on key gas supply pipelines, the company’s chief executive said on Tuesday. Philip Mshelbila told the Nigerian International Energy Summit in Abuja that only two of the company’s...
https://www.hellenicshippingnews.com/nigeria-lng-operating-at-a-third-of-capacity-because-of-theft/
Naphtha margin at near 5-month high, backwardation widens further
Asia’s naphtha climbed to the highest level since Oct. 4 on Wednesday boosted by lower supplies from Russia and power outage at South Korean petrochemical plants. The crack jumped to $120.10 metric tonne over Brent crude and the backwardation widened for a second straight day by $2.50 to $12 per...