U.S. natural gas futures rose for a seventh consecutive session Wednesday,...
U.S. natural gas futures rose for a seventh consecutive session Wednesday, as the cold blast across much of the U.S. hikes demand for heating and freezes in some production, while forecasts show winter weather stretching into March with large storage withdrawals widening inventory deficits.
Data due today from the U.S. Energy Information Agency is expected to show a 187B cf draw from underground storage, leaving inventories at 2.11T cf, or 109B cf below the five-year average and 377B cf below the year-earlier level, according to a survey of analysts by The Wall Street Journal.
Technical indicators suggest overbought conditions, and physical prices likely will retreat next week as daily demand declines, Eli Rubin of EBW Analytics said, but "cold March weather risks after the coldest January-February in a decade are bridging bullish near-term conditions."
Front-month Nymex natural gas (NG1:COM) for March delivery closed +6.8% to $4.280/MMBtu, a new 52-week high and highest settlement value for the front-month contract since December 30, 2022; U.S. natural gas has surged 40% this month alone and 18% YTD.
Court ruling, EPA stance boost small refiners' RFS hopes
The US Court of Appeals...
The US Court of Appeals for the 5th Circuit has issued a stay on the Environmental Protection Agency's denial of Calumet's request to exempt its 57,000-barrel-per-day refinery in Shreveport, La., from 2023 Renewable Fuel Standard obligations. Relief could be on the horizon for other small refineries as EPA signals a course reversal on RFS exemptions under the Trump administration.
Calcasieu Pass LNG on track for April commercial launch
Venture Global LNG has informed long-term customers that it expects to...
Venture Global LNG has informed long-term customers that it expects to launch commercial operations at Calcasieu Pass export plant in Louisiana on April 15, about three years after the facility began exporting cargoes. "These efforts now allow us to supply our long-term customers with the full 20-year contract term of the lowest-cost, clean LNG as promised under our contracts," the company stated.
Trump and Zelensky traded harsh words amid tension over Russia talks
Soon after the US and Russia held talks about how to end the war in Ukraine...
Soon after the US and Russia held talks about how to end the war in Ukraine without Ukraine present, a verbal battle erupted between President Donald Trump and Ukraine’s Volodymyr Zelensky. It began when Trump accused Ukraine of starting the war, which dates back to when Russia invaded Ukraine in 2022. Zelensky then told reporters Trump was living in a Russia-created “disinformation space,” saying, “I want there to be more truth in Trump’s team.” Trump responded by calling Zelensky “A Dictator without Elections” and lamenting how much the US had spent on the war in a Truth Social post that overstated the amount of aid the US provided.
KFC is leaving its old Kentucky home. We don’t expect the colonel to trade his string tie for a cowboy hat, but the chicken chain formerly known as Kentucky Fried Chicken is moving its corporate headquarters from Louisville, KY, to Plano, TX, its parent company Yum Brands said. About 100 KFC employees will be relocated to the new office, according to Yum Brands, which also owns Pizza Hut, Taco Bell, and Habit Burger and Grill. The parent company said it was part of a larger shift to two corporate hubs in Plano and in Irvine, California. The company’s charitable group, the KFC Foundation, will continue to be based in Louisville.
At least two people were killed when two small planes collided over Arizona.
Mira Murati, the former CTO of OpenAI, has unveiled her own AI-focused startup and hired 20 researchers from her old company to come on board.
President Donald Trump signed an executive order bringing independent government agencies that regulate businesses under the White House’s power.
Trump’s media company, which owns Truth Social, sued a Brazilian Supreme Court justice, claiming he censored right-wing speech on social media.
A federal judge grilled the DOJ over its move to dismiss corruption charges against NYC Mayor Eric Adams and declined to rule right away.
