With temperatures expected to stay above average until mid-August, there will continue to be a significant demand for air cooling, particularly in Texas. Nat. Gas yesterday settled up 7.1% at 227.2. The average gas production in the Lower 48 States of the United States has remained at 101.8 billion cubic feet per day (bcfd) so…
As investors took profits on worries that future interest rate increases by central banks might stifle economic growth and global fuel demand, oil prices declined on Thursday, erasing some of the gains made the day before. The price of Brent crude futures had decreased by 27 cents, or 0.4%, to $73.76 per barrel. American West…
Crude oil yesterday decreased by -4.17% to close at 5705 as concerns over interest rates and inflation resurfaced, increasing questions about the prospects for gasoline demand. Pressure from important central banks was also perceived as being hawkish, which created worries that interest rates would keep rising for a longer period of time and worsen the…
As investors continue to track the amount of gas flowing to US LNG export plants and weather predictions, natural gas prices yesterday decreased by -4.94% to 207.7. As households and businesses turn up their air conditioners to escape the first heat wave of the summer of 2023, power use in Texas is anticipated to set…
In anticipation of increased crude demand from Chinese refineries, crude oil yesterday finished up 0.72% at 5877. According to data, China’s throughput at oil refineries increased by 15.4% in May compared to the same month last year, making it the country’s second-highest monthly total ever. According to the International Energy Agency’s (IEA) most recent Oil…
On Wednesday, oil prices plummeted in Asian trading as disappointing Chinese trade data fueled new worries about weakening demand in the nation. Prices have now completely reversed all gains from earlier this week due to OPEC production cutbacks. In May, China’s trade surplus hit a 13-month low, primarily due to a surprising decline in exports…
A near-record amount of natural gas was produced for the month, which kept prices under pressure. Yesterday, natural gas prices decreased by -3.63% to 172.8 in anticipation that milder weather would lower the need for heating. The United States Energy Information Administration (EIA) predicted that due to milder weather, the country’s power consumption will decrease…
The unexpected declaration by OPEC+ to further reduce output in an effort to sustain market stability caused an increase in oil prices of approximately $5 per barrel on Monday. In the opening, Brent crude reached its highest price in almost a month, trading at $84.95 a barrel, up $5.06 or 6.3%. With a price of…
The expectation that China’s harsh COVID-19 regulations will be relaxed will result in a rebound in gasoline consumption in the world’s largest oil importer drove up oil prices on Wednesday, extending gains from the previous session. Following a 1.7% gain in the prior session, Brent crude futures were up 52 cents, or 0.6%, at $86.44…
American Petroleum Institute (API) statistics released on Tuesday, which came before the government released its official inventory figures, which would have included drawdowns from the national oil reserve, showed that U.S. crude stockpiles increased by more than 6 million barrels over the previous week. September 9, API reported that U.S. crude stockpiles increased by 6.035…
