Dutch and British wholesale gas prices were down on Monday morning on a warmer weather outlook and with the market shrugging off the geopolitical developments in Syria. The benchmark front-month contract at the Dutch TTF hub TRNLTTFMc1 was down 0.81 euro at 45.56 euros per megawatt hour (MWh), or $14.38/mmbtu, by 0948 GMT. In Britain, the day-ahead contract TRGBNBPMc1 fell by 1.4 pence to 113.5 p/therm. “Further losses could be recorded today as the weather outlook has been revised warmer over the weekend with the return of above-average temperatures expected ...

Asian spot liquefied natural gas (LNG) prices edged down this week as high inventories depressed demand, but prices remained near their highest level this year, tracking European gas prices which have risen on supply concerns. The average LNG price for January delivery into north-east Asia LNG-AS was at $15.00 per million British thermal units (mmBtu), slightly lower than $15.10/mmBtu last week, industry sources estimated. “Colder temperatures in north-east Asia will keep prices in check although not expected to lift spot demand as ample inventory levels and high LNG prices will ...

India’s fuel consumption in November rose by 9.3% year-on-year to 20.43 million metric tons, reaching its highest level since May, oil ministry data showed on Friday. WHY IT IS IMPORTANT India is the world’s third-largest consumer and importer of oil. The data is a proxy for the country’s oil demand. KEY QUOTE All fuels saw larger increase due to a combination of factors like solid economic activity and travel activity, said analyst Giovanni Staunovo of UBS. BY THE NUMBERS On a monthly basis, fuel demand was up 2% from 20.02 ...

U.S. natural gas futures eased about 1% on Friday on rising output and forecasts for warmer-than-expected weather over the next two weeks, which should reduce the amount of gas that utilities need to pull from storage to meet heating demand in mid- to late December. The price decline occurred despite gas volumes flowing to U.S. liquefied natural gas export plants that were on track to hit a 10-month high. Front-month gas futures NGc1 for January delivery on the New York Mercantile Exchange were down 4.1 cents, or 1.3%, to $3.038 ...

U.S. natural gas futures were little changed on Friday as rising output and forecasts for warmer-than-expected weather over the next two weeks offset an increase in the amount of gas flowing to liquefied natural gas export plants to a 10-month high. Front-month gas futures NGc1 for January delivery on the New York Mercantile Exchange fell 0.3 cent to settle at $3.076 per million British thermal units. For the week, the contract was down about 9% after gaining about 49% over the prior six weeks. Some analysts have said that winter ...

Egypt has been procuring fuel oil to meet domestic demand requirements and optimize its volumes as global gas and LNG prices remained elevated compared to alternative fuels, sources said. Platts, part of S&P Global Commodity Insights, assessed the DES Northwest European marker for January at $14.209/MMBtu on Dec. 6, this was down 0.43% on the week but nearly 13% higher since the start of the winter heating season on Oct. 1. In dollars per metric ton — oil equivalent — the DES NWE LNG marker was around $549.08/mt. At the ...

Qatar has no concerns about U.S. President-elect Donald Trump’s promise to lift a cap on liquefied natural gas (LNG) exports, Qatar’s Energy Minister Saad al-Kaabi said on Saturday, adding his country would cope with any competition. “And you know even if you open up LNG and say we’re going to export another 300 million tons from the U.S. or 500 million from the U.S., all these projects are driven by private enterprises that look at the commercial viability of projects,” Kaabi, who is also the chief executive of state-owned QatarEnergy, ...

Russian oil supplies to the Czech Republic via the Druzhba pipeline resumed on Friday, Czech refiner Orlen Unipetrol’s CEO Mariusz Wnuk said. “The supplies have been restored this morning and crude oil from the Druzhba pipeline is flowing into the Czech Republic normally,” Wnuk said. The country saw a halt to supplies on the route earlier this week. Sources told Reuters on Thursday the flows would resume on Friday after payment issues linked to the transit via Ukraine, which caused the halt, had been sorted. Refining at Litvinov refinery, which ...

ADNOC announced today it has signed a second Sales and Purchase Agreement (SPA) for the lower-carbon Ruwais liquified natural gas (LNG) project, with Malaysia’s PETRONAS. The 15-year SPA for supplying 1 million tonnes per annum (mtpa) of LNG converts a previous Heads of Agreement between ADNOC and PETRONAS into a definitive agreement. The LNG will primarily be sourced from the Ruwais LNG project, which is currently under development in Al Ruwais Industrial City, Abu Dhabi. Deliveries are expected to start in 2028 upon commencement of its commercial operations. To date, ...

Dutch and British wholesale gas prices inched down on Friday morning on a milder weather outlook from mid-December and after Russian President Vladimir Putin cancelled a rouble currency conversion requirement for gas buyers. The benchmark front-month contract at the Dutch TTF hub TRNLTTFMc1 was down 0.27 euro at 46.26 euros per megawatt hour (MWh) by 0919 GMT, while the February contract was 0.31 euro lower at 46.24 euros/MWh. Although colder weather is expected next week in north-west Europe, Recent forecasts show temperatures above normal levels for the second half of ...

Asia’s gasoline margins fell flat on Friday, even as a total of 250,000 barrels of 92-octane and 95-octane gasoline exchanged hands at the closing window. The margins slipped to $9.01 per barrel over Brent crude, from $10.21 on Thursday. In tenders, Pakistan’s PSO was seeking 92-octane gasoline for the loading period of Jan. 16-20, the company website listed. The tender closes on Dec. 9. In naphtha, the margins dipped by $0.01 to $82.82 per metric ton over Brent crude. The backwardation between second-half January and second-half February narrowed to $1.50. ...

Asia’s middle distillates markets remained thinly discussed on the spot front as January negotiations were yet to go into full swing, with traders keeping a close eye on China export availability and demand in the West. Supply movements will hinge on demand expectations from the West, with some traders already expecting swing cargoes to pivot West once the market there picks up. Focus was also on China’s announcement on export quotas for next year, with some traders already closing their trading programmes for this year. On spot sales front, refiner ...

BP’s Tangguh LNG Train 3 is expected to return to normal operation within a fewdays following a disruption last month, a spokesperson of Indonesia’s upstream oil and gas regulatorSKK Migas said on Thursday. BP was conducting repairs and parts replacement at the facility in West Papua following instrumentation issues at an onshore receiving facility in mid November. The Train 3 is currently ramping up production and should return to normal in one or two days, Hudi Suryodipuro of SKK Migas told Reuters. The third train of LNG Tangguh, which has ...

The collapse of Germany’s governing coalition risks delaying a draft law on waiving a costly gas storage levy for foreign buyers from next year and raising tension with European neighbours that face higher prices. Supply security is already worrying European governments as cold weather has pushed gas prices to their highest in nearly 13 months, and a Russian transit deal to supply gas to Europe via Ukraine expires at the end of the year. Germany’s gas neutrality charge, which storage operator Trading Hub Europe (THE) receives for gathering and releasing ...

All regions in Japan are forecast to experience temperatures below the 30-year average over the next month from Dec. 7, the Japan Meteorological Agency said Dec. 5, boosting demand for power generation and heating. The latest month-long weather forecast follows a Nov. 28 weather outlook forecasting 30-year-average temperatures over Nov. 30-Dec. 29. Japan is entering its peak power and heating demand season with local power and gas utilities generally well prepared and not actively buying spot winter cargoes, market sources said. Despite a drop in temperatures since late November, LNG ...