Twitter shares surge after disclosure Elon Musk has taken stake
Shares of Twitter ...
Shares of Twitter TWTR, +1.60% jumped 25% in premarket trade after a Securities and Exchange Commission filing showed that Elon Musk, the chief executive of Tesla, took a 9.2% stake in the microblogging service. Last week Musk said he was "giving serious thought" to creating a new social media platform, as he was upset by Twitter's free-speech approach.
Asian Liquefied Natural Gas Demand Is Cooling Fast
As energy buyers in Europe reorganize to ...
As energy buyers in Europe reorganize to wean themselves off Russian gas in the wake of Vladimir Putin’s war on Ukraine—and natural gas prices skyrocket—Asian countries are facing some serious sticker shock. In the long run, the consequences could be even more profound—slower Asian LNG demand growth through the remainder of the first half of the decade.
Asia Pacific LNG imports are down 10% in the first quarter of 2022 from a year earlier. Chinese, Japanese and Indian LNG imports are down 11%, 14%, and 25% respectively. Asian LNG prices had roughly quintupled over the past year to $34 per million British Thermal Units (MMBtu) as of late March but still lagged behind the European benchmark which hit $39 per MMBtu,
EIA explores effects of not building future interstate natural gas pipelines
In the Annual Energy Outlook 2022 (AEO2022), Issues in Focus: Exploration of...
In the Annual Energy Outlook 2022 (AEO2022), Issues in Focus: Exploration of the No Interstate Natural Gas Pipeline Builds, the EIA analyzes the effects on the energy market if no additional U.S. natural gas pipeline capacity is built between 2024 and 2050. In the No Interstate Natural Gas Pipeline Builds case, we project 5% less natural gas production and 4% less natural gas consumption in 2050 compared with the Reference case. The EIA also projects that the Henry Hub spot price in 2050 would be 11% higher in that case than in the Reference case.
Collapse in Oil Curve Shows U.S. Release Has Calmed Market
(Bloomberg) Oil is still in backwardation -- a bullish market structure where near-dated...
(Bloomberg) Oil is still in backwardation -- a bullish market structure where near-dated prices are pricier than those further out -- but it’s eased to levels near where they were before Russia’s invasion of Ukraine threw the market into turmoil.
The six-month time spread for West Texas Intermediate was $6.15 a barrel at 10:17 a.m. London time on Monday, compared with $7.05 at the end of Friday and $13.46 at the close on Wednesday before the U.S. announcement. The similar spread for global benchmark Brent crude also narrowed sharply.
The redrawing of the curve indicates the market is a lot less anxious about supply shortfalls since the White House said it would release 1 million barrels a day of oil from its reserves for six months.
