U.S. natural gas pipeline exports to Mexico averaged 7.5 billion cubic feet per day (bcfd) in May 2025, the most of any month on record as Mexico's demand for natural gas increases, the U.S. Energy Information Administration said on Monday. On an annual basis, U.S. natural gas pipeline exports to Mexico averaged 6.4 bcfd in 2024, a 25% increase compared with 2019 and the highest on record in data going back as early as 1975, the EIA report stated. "Total consumption of natural gas in [Read more]
US natural gas prices surge 8% as colder weather boosts demand
U.S. natural gas futures jumped about 8% to a one-week high on Monday on forecasts for much colder weather and higher heating demand over the next two weeks than previously expected and on a decline in output so far this month and near-record flows of gas to liquefied natural gas (LNG) export plants. Front-month gas futures for November delivery on the New York Mercantile Exchange rose 24 cents, or 8.0%, to $3.248 per million British thermal units (mmBtu), putting the contract on track for [Read more]
Trump’s India squeeze to push Russian oil further into the shadows: Bousso
Donald Trump is putting more pressure on India to slash its Russian oil purchases. This could deprive Moscow of vital revenue, but it will mostly just push more Russian oil into an increasingly large shadow market. The U.S. president said on Wednesday that Indian Prime Minister Narendra Modi has pledged to stop buying oil from Russia, an agreement India has yet to confirm. India has become a major trade buyer of Russian oil since Moscow’s invasion of Ukraine in 2022. It purchased 1.9 million [Read more]
Ukraine prepares for record gas imports after Russian attacks, Zelenskiy says
Ukraine may import gas worth around $2 billion from Europe, the United States and Azerbaijan this winter, President Volodymyr Zelenskiy said, after its gas infrastructure was severely damaged by Russian attacks. He did not specify how much gas Ukraine planned to purchase. Kyiv had expected to import 4.6 billion cubic meters (bcm) of gas before a series of Russian strikes hit Ukraine's gas sector earlier this autumn. Due to the damage, energy minister Svitlana Hrynchuk said imports would [Read more]
Oil prices slip on concerns over US-China trade tensions
Oil prices dipped on Monday, pressured by worries over a global glut as U.S.-China trade tensions added to concerns about an economic slowdown and weaker energy demand. Brent crude futures were down 53 cents, or 0.86%, at $60.76 a barrel as of 0610 GMT, while U.S. West Texas Intermediate futures fell 55 cents, or 0.96%, to $56.99, erasing gains from Friday. Both benchmarks declined more than 2% last week, marking their third consecutive weekly decline, partly due to the International [Read more]
Trump vows to keep ‘massive’ tariffs on India until Russian oil imports cease
U.S. President Donald Trump reiterated on Sunday that Indian Prime Minister Narendra Modi told him India will stop buying Russian oil, while warning that New Delhi would continue paying "massive" tariffs if it did not do so. "I spoke with Prime Minister Modi of India, and he said he's not going to be doing the Russian oil thing," Trump told reporters aboard Air Force One. Asked about India's assertion that it was not aware of any conversation between Modi and Trump, Trump replied: "But if [Read more]
Discount on Western Canada Select widens
The discount on Western Canada Select to North American benchmark West Texas Intermediate futures widened on Friday. WCS for November delivery in Hardisty, Alberta, settled at $10.90 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, compared to Wednesday's close of $10.35. * October's tight discount is being driven by supply impacts from seasonal maintenance in the Canadian oil sands, strong Asian buying and strong demand from U.S. refineries, analysts say. * The [Read more]
US drillers add oil and gas rigs for first time in three weeks, Baker Hughes says
U.S. energy firms this week added oil and natural gas rigs for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by one to 548 in the week to October 17. Despite this week's rig increase, Baker Hughes said the total count was still down 37 rigs, or 6% below this time last year. Baker Hughes said oil rigs held steady at 418 this week, while gas rigs rose by one to [Read more]
BP says fire extinguished at Whiting, Indiana refinery
A fire broke out at BP's 440,000 barrel-per-day Whiting refinery in Indiana and was extinguished as of Friday morning, the company said. The fire resulted from an operational incident and there were no injuries, the company said in an emailed statement. It did not elaborate on the incident. Reuters earlier reported multiple units were offline at the refinery, which is the largest in the U.S. Midwest region, according to two market sources that were citing data from Wood Mackenzie. The [Read more]
Western pressure to hit Asian buying of Russian oil from December, sources say
U.S. and European pressure on Asian buyers of Russian energy could restrict India's oil imports from December, leading to cheaper supplies for China, while Japan is unlikely to halt its Sakhalin liquefied natural gas shipments for now, trade sources and analysts said. Washington is exerting pressure on China, India and Japan through trade talks to reduce their purchases of Russian oil and LNG, while Britain has just imposed sanctions on Chinese and Indian entities. More sanctions from the [Read more]
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