Goldman Sachs raised its TTF gas price forecast for the second quarter of this year to 45 euros per Megawatt-hour (MWh) from 36 euros per MWh previously, it said in a note dated on Monday. The bank, citing disruptions to Qatar's liquefied natural gas (LNG) production, also raised its April 2026 TTF gas price forecast to 55 euros per MWh from 36 euros per MWh previously. "We also raise our prompt Apr 26 JKM gas price forecast to $20/mmbtu from $11.90," Goldman said. (Reporting by Noel [Read more]
News
Exxon, TotalEnergies output at risk from Iran war, analysts say
Exxon Mobil, TotalEnergies and Shell are among the companies with more exposure to disruptions in oil and gas production due to the U.S.-Israel war with Iran, analysts said in research notes on Sunday and Monday. The U.S. and Israel's strikes on Iran on Saturday, which killed Iran's supreme leader Ayatollah Ali Khamenei, have roiled the energy sector. The conflict has forced the shutdown of some oil and gas fields in the region and effectively halted shipping through the Strait of Hormuz, an [Read more]
India most vulnerable to prolonged disruptions to Mideast oil, analysts say
India, a fast-growing oil consumer, is the country most vulnerable to crude supply shocks if the Middle East conflict leads to a prolonged disruption in shipments from the region, mainly because of its thin reserves, analysts said. Both China and India, Asia's top energy consumers, source around half of their crude imports from the Middle East, but India has far less oil in storage than its neighbor and is more dependent on that region's crude now than in the last three-plus years. "China [Read more]
US LNG exports grew in February, new output could help fill Qatar supply gap
U.S. exports of liquefied natural gas rose more than 17% last month from a year earlier as Venture Global's Plaquemines plant in Louisiana ramped up production and Cheniere brought on more units at its Corpus Christi facility, preliminary data from financial firm LSEG showed. The U.S. is the world's largest LNG exporter, and there are already signs of even higher output to come in March, positioning it well to fill supply gaps at a time when LNG exports from Qatar have been disrupted due to [Read more]
Discount on Western Canada Select narrows by almost $1 a barrel on Middle East output concerns
The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures narrowed by almost $1 a barrel on Monday, as the Iran war disrupted Middle Eastern output. WCS for April delivery in Hardisty, Alberta, settled at $12.70 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared to $13.65 on Friday. * Global oil and gas prices surged on Monday following Israeli and U.S. strikes on Iran and retaliation by Tehran that forced shutdowns [Read more]
US will take action to mitigate oil price spike for Americans, Rubio says
The U.S. will take action to mitigate rising energy prices due to a spike in the price of oil caused by the Iran conflict, Secretary of State Rubio said on Monday. Speaking to reporters at Capitol Hill, Rubio said Treasury Secretary Scott Bessent and Energy Secretary Chris Wright would announce the plans on Tuesday. "Starting tomorrow, you will see us rolling out those phases to try to mitigate against that... We anticipated this could be an issue," Rubio said. President Donald Trump is [Read more]
About 10% of global container fleet caught in Hormuz backup, shipping CEO says
Container ships account for roughly 100 of the 750 ships ensnared in the Strait of Hormuz backups following U.S. and Israeli attacks on Iran, Jeremy Nixon, CEO of container carrier Ocean Network Express (ONE), said on Monday. "About 10% of the container ship global fleet is caught up in this," Nixon said at S&P Global Market Intelligence’s TPM26 container shipping conference in Long Beach. Maritime insurers ceased covering voyages through the strait between Iran and Oman, which carries [Read more]
Alberta’s premier says conflict in Iran underscores need for new Canadian pipeline
LETHBRIDGE - Alberta Premier Danielle Smith says the war in Iran underscores the need for a new pipeline connecting her province's oil reserves to the West Coast. The threat of shipping disruptions have seen global oil prices jump since American-Israeli attacks on Iran over the weekend. Smith says any disruption in the Strait of Hormuz, a key oil choke point at the mouth of the Persian Gulf, only underscores the need for a new pipeline that could bring her province’s pivotal export to [Read more]
Fuel tanker ablaze in Strait of Hormuz after drone strike, Iran Revolutionary Guards say
Iran's Revolutionary Guards said a fuel tanker was burning in the Strait of Hormuz after being hit by two drones, Iranian news agencies reported on Monday. The strait is the world's most vital oil export route, connecting the biggest Gulf oil producers, such as Saudi Arabia, Iran, Iraq and the United Arab Emirates, with the Gulf of Oman and the Arabian Sea. A Guards statement named the vessel as Athen Nova, an apparent reference to Honduras-flagged asphalt tanker Athe Nova, which it said [Read more]
How have US presidents tapped the Strategic Petroleum Reserve during war?
While the U.S. has no plans yet to sell oil from the Strategic Petroleum Reserve, the world's largest emergency oil stockpile, presidents have long tapped it during times of crisis in attempts to control fuel prices for U.S. consumers. The administration of President Donald Trump is not currently discussing selling oil from the SPR, a U.S. source said on Monday. But if oil prices continue to rise following the U.S.-Israeli attacks on OPEC-member Iran that killed Supreme Leader Ali Khamenei [Read more]
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