U.S. spot natural gas prices for Thursday at the Waha Hub in West Texas rose to their highest since early February - while remaining in negative territory - as demand for the fuel rises with the coming of summer and pipeline companies start to wrap up spring maintenance. Next-day prices at Waha have remained below zero for a record 78 days in a row as pipeline constraints from spring maintenance trapped gas in the Permian Shale, the nation's biggest oil-producing basin in West Texas and [Read more]
US and Iran reach deal but need Trump’s final approval, Axios reports
The U.S. and Iran have reached an agreement on a 60-day memorandum of understanding to extend the ceasefire and launch negotiations on Iran's nuclear program, but President Donald Trump still needs to give final approval, Axios reported on Thursday, citing two U.S. officials. (Reporting by Katharine Jackson and Daphne Psaledakis) [Read more]
Trump Fed pivot raises dollar-policy doubts too: Mike Dolan
If Donald Trump is indeed backing off and allowing the Federal Reserve to do what it needs to do, then the U.S. president may have to park his administration's long-assumed preference for a weaker dollar too. For some nervous Republicans, that may come asa relief. As his appointee Kevin Warsh was sworn in as Fed chair last week, Trump appeared to change tack on his perpetual demand for ever-lower U.S. interest rates, and his persistent barracking of Warsh's predecessor, Jerome Powell, on the [Read more]
US carries out new strikes in Iran against military site, official says
The U.S. military carried out new strikes overnight in Iran targeting a military site that officials believed posed a threat to U.S. forces and commercial maritime traffic in the Strait of Hormuz, a U.S. official told Reuters on Wednesday. The official, who spoke on condition of anonymity, said the U.S. military has also intercepted and shot down multiple Iranian drones that posed a similar threat. The U.S. military strikes, which have not been previously reported, came during negotiations to [Read more]
Canada’s proposed Ksi Lisims LNG facility in talks to supply ‘several’ European utilities, Western LNG CEO says
Canada's proposed Ksi Lisims LNG export facility is in talks with several European utilities interested in purchasing liquefied natural gas from the West Coast of Canada, the CEO of Houston-based Western LNG, the lead proponent of the project, said in an interview on Wednesday. Davis Thames said Ksi Lisims expects to be able to announce additional agreements shortly, following a deal earlier in the day to supply Germany’s state-owned energy firm SEFE. He said Ksi Lisims, which currently has 5 [Read more]
US and Iran remain divided on Hormuz deal as White House rejects Tehran TV report
President Donald Trump said on Wednesday the U.S. and Iran still have issues to resolve in peace talks, after Washington dismissed an Iranian state television report of a framework deal to restore shipping through the Strait of Hormuz within a month and to lift a U.S. naval blockade on Iranian ships. Trump told a cabinet meeting that Iran remained keen to end the war, which has choked global energy supplies through the strategic waterway, but that the terms did not satisfy [Read more]
Oil from US emergency reserve heads to California for the first time, Kpler says
A cargo of oil from the U.S. Strategic Petroleum Reserve headed to California this month for the first time ever, ship tracking service Kpler said. The unusual movement highlights the redrawing of trade flows and shipping routes as the Iran war has cut off supplies of Middle Eastern crude. California, once a top oil-producing state in the U.S., has in recent years become more dependent on crude imports, including about 230,000 barrels per day last year from the Middle East. Availability of [Read more]
Exxon wins shareholder backing for legal move to Texas
Exxon Mobil shareholders on Wednesday approved the company's plan to redomicile in Texas, marking a win for the top U.S. oil producer after two leading proxy advisory firms advised investors to strike down the proposal. The oil producer is incorporated in New Jersey, but the company has been headquartered in Texas since 1989. It said moving its legal home to the state was logical and made more sense for the business. Other companies, including SpaceX, Tesla and Coinbase, have recently [Read more]
Germany’s SEFE and Canada’s Ksi Lisims LNG agree on long-term LNG supply
German state-owned gas importer SEFE said on Wednesday it agreed to purchase 1 million tonnes of liquefied natural gas per year from Canada's Ksi Lisims LNG to diversify supplies amid unsteady global energy markets. Under a memorandum of understanding signed on Wednesday, deliveries are set to begin in the early 2030s for up to 20 years, it added. German Economy Minister Katherina Reiche said the deal underscored a strategic energy partnership with Canada. "By working more closely [Read more]
Iran could open Strait of Hormuz within a month if terms agreed, state TV says
Tehran would restore shipping through the Strait of Hormuz to pre-war levels within a month in a framework deal with the U.S. to also include withdrawing U.S. forces from Iran's vicinity, Iranian state television reported on Wednesday. The report said the U.S. would end a naval blockade of Iranian shipping, citing a memorandum of understanding being negotiated between the two sides to end the war which has choked global energy supplies through the strategic waterway. Iranian state TV said it [Read more]
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