Liquefied natural gas buyers' hunt for reliable, affordable and diverse supplies could boost US LNG...
Liquefied natural gas buyers' hunt for reliable, affordable and diverse supplies could boost US LNG exports to 29 Bcf/d by 2033, a nearly threefold increase from current levels, energy consultancy Wood Mackenzie predicts. "The North America gas market expansion for the next decade will be equivalent to adding two new Permian basins," said WoodMac Director of Americas Gas and LNG Research Dulles Wang.
Crude oil prices first rebounded and then dropped slightly on Monday after Saudi Arabia issued a denial that it might increase oil supplies with OPEC. Oklahoma energy stocks dropped too.
West Texas Intermediate crude for December delivery dropped 35 cents to $79.73 on the New York Mercantile Exchange.
Global benchmark Brent crude for January delivery slipped 17 cents a barrel to $87.45 on ICE Futures Europe.
December natural gas rose 48 cents or 7.50% to $6.78 per 1,000 cubic feet.
U.S. stocks finish lower as Nasdaq paces losses; Disney stock jumps 6%
U.S. stocks ended lower Monday, after a fresh COVID-19 lockdown in China hurt market sentiment...
U.S. stocks ended lower Monday, after a fresh COVID-19 lockdown in China hurt market sentiment and investors weighed remarks from Federal Reserve Bank of San Francisco President Mary Daly on interest rates. The Dow Jones Industrial Average DJIA, -0.13% edged down 0.1%, while the S&P 500 SPX, -0.39% fell 0.4% and the Nasdaq COMP, -1.09% dropped 1.1%, according to preliminary data from FactSet. San Francisco Fed President Daly said Monday that financial markets are acting like the Fed's benchmark rate is around 6%, instead of the actual 3.75%-4% range. Earlier Monday, the Associated Press reported that China's southern metropolis of Guangzhou locked down its largest district in a bid to contain a major COVID outbreak.
Frack-Sand Plant Fire Threatens Supplies for Texas Shale Wells
A frack-sand plant in the Eagle Ford region of Texas erupted in flames over the weekend, imperiling supplies...
A frack-sand plant in the Eagle Ford region of Texas erupted in flames over the weekend, imperiling supplies of a key component in shale drilling.
The blaze at Superior Silica Sands LLC’s sand-processing complex in San Antonio began around 2:30 a.m. local time on Saturday, according to reports from the city’s NBC and CBS television affiliates. A voicemail left at Superior’s Chandler, Arizona, headquarters outside of regular business hours wasn’t immediately returned.
Sand is an essential part of the mix, along with water and chemicals, that frackers pump into shale wells to crack open the rock and release crude oil and natural gas.
“Our hunch is that this may be pretty disruptive to Eagle Ford sand supplies(which were already very tight before this fire) through year-end,” Joseph Triepke, managing director at energy-research firm Lium LLC, wrote in a note to clients on Saturday. ~ Source: Bloomberg
The energy sector opened lower, pressured by weakness in the crude complex...
The energy sector opened lower, pressured by weakness in the crude complex and the major market futures. U.S. equities kicked-off the holiday-shortened week lower as COVID-19 flare-ups in China increase fears of slowing growth.
WTI and Brent crude oil are down to near two-month lows as traders are concerned over the demand outlook due to China’s Zero COVID-19 policy and on strength in the dollar.New COVID case numbers in China are close to April peaks leading some districts in Beijing to switch to online classes on Monday. Additionally, the city of Guangzhou ordered a five-day lockdown. The prospect of higher interest rates continues to add strength to the greenback.
Natural gas futures are up this morning amid forecasts for lower temperatures in the New England region, than previously expected.In international news, QatarEnergy has signed a 27-year deal to supply China's Sinopec with LNG, the longest such LNG agreement so far as volatile markets drive buyers to seek a long-term deal
