WTI and Brent crude oil futures are trading higher as...
WTI and Brent crude oil futures are trading higher as a drop in U.S. oil inventories and concerns over tighter supplies from Russia and Libya drove a recovery from yesterday’s losses. Oil production in Libya is continuing to slow down as the blockades on major fields and export terminals is causing Libya to lose more than 550,000 barrels per day in oil production, the National Oil Corporation media office said. Following the sanctions on Russia over their invasion of Ukraine, nine tankers carrying Russian-origin crude and fuel oil have discharged in the United States in April, likely the last ones to deliver before a wind-down set by Washington expires this week.
Natural gas futures rebounded this morning after yesterday’s sharp losses as concerns over future Russian gas supplies linger and amid high demand for LNG exports.
EIA: Liquefied natural gas exports continue to lead growth in U.S. natural gas exports
Since the United States began exporting more natural gas than it imports on an annual basis in 2017,...
Since the United States began exporting more natural gas than it imports on an annual basis in 2017, natural gas exports both by pipeline and as liquefied natural gas (LNG) have grown significantly. In our Short-Term Energy Outlook (STEO), we forecast that LNG exports will continue to lead the growth in U.S. natural gas exports and average 12.2 billion cubic feet per day (Bcf/d) in 2022. If realized, the United States would surpass Australia and Qatar and become the world's top LNG exporter this year.
🔥From Twitter: Marathon Petroleum sheds Russian oil for Ecuadorian crude
Marathon Petroleum, previously the largest...
Marathon Petroleum, previously the largest U.S. buyer of Russian oil, just beefed up supplies of Ecuadorian crude after sanctions cut off its supplies from Moscow https://t.co/7TPpAwvDM5
MarketWatch: U.S. oil futures end at lowest in a week; natural-gas prices down over 8%
U.S. oil prices declined...
U.S. oil prices declined on Tuesday to finish at their lowest level in a week, pressured by strength in the U.S. dollar and worries about Chinese energy demand. "Lower growth forecasts and slower Chinese growth at the end of the first quarter amid lockdowns appear to have driven the bulk of the move," said Craig Erlam, senior market analyst at OANDA. West Texas Intermediate crude for May delivery CLK22, 0.08% fell $5.65, or 5.2%, to settle at $102.56 a barrel on the New York Mercantile Exchange. That was the lowest front-month finish since April 12, FactSet data show. Natural-gas futures, meanwhile, ended lower after settling a day earlier at the highest since September 2008. May natural gas NGK22, -7.21% fell 64 cents, or 8.2% to settle at $7.176 per million British thermal units.
