Around many computer terminals located in major energy hubs sit hunched some very wealthy people that got that way by betting on the weather. Nothing so mundane as slapping down a hundred bucks on whether it will rain next Tuesday or not; they do it by betting on natural gas markets, which have the capacity to, within days, whipsaw positions into massive fortunes. Or losses, because the reverse is also true, as legendary gas trading firm Amaranth Advisors showed so spectacularly 20 years ago [Read more]
News
Cardinal Provides an Update on the Operation of Its Thermal Business Unit and the De-Risking of Several Thermal Projects
Calgary, Alberta--(Newsfile Corp. - January 26, 2026) - Cardinal Energy Ltd. (TSX: CJ) ("Cardinal" or the "Company") wishes to provide an update on its thermal evaluation and development program and the advancement of two future steam-assisted gravity drainage ("SAGD") oil development projects - ("Reford 2") and ("Kelfield"). These projects build on the success and technical foundation of the Company's Reford 1 SAGD development ("Reford 1") aligning with Cardinal's strategy to responsibly [Read more]
US oil capital Houston buzzes as industry limbers up for Venezuela oil rush
In a downtown Houston bar, Matthew Goitia, a director at Pelorus Terminals, lays out his early idea to refurbish and build marine terminals that can blend and export crude and ship chemical products in Venezuela. The ambitious plan he estimates would cost $250 million to $1 billion requires him to refurbish an existing crude oil marine terminal in Venezuela, build a new oil one and then convert the older facility to move chemicals and other products. He is also considering adding storage tanks, [Read more]
When the US freezes, the global LNG market catches a cold: Bousso
An Arctic blast sweeping across the U.S. Northeast and Midwest has triggered a sharp rally in natural gas prices on fears of production disruptions. The spike has reverberated across overseas markets, underlining the growing globalization of the U.S.-dominated liquefied natural gas trade. U.S. natural gas futures have surged by almost 70% over the last week to $5.35 per million British thermal units (mmBtu), their highest since December 2022. The cold spell is set to lift domestic gas demand [Read more]
More than 847,000 US customers without power as winter storm freezes much of the US
More than 847,000 homes and businesses remained without power late on Sunday as a severe winter storm spread heavy snow, sleet and freezing rain across parts of the U.S. from the Ohio Valley and mid-South to New England. Some states restored services during the day, reducing the number affected from more than 950,000 customers earlier. The hardest-hit utilities included Nashville Electric Service in Tennessee, where about 185,000 of its 463,455 customers were without power, and Entergy [Read more]
Few refineries report problems as deep cold seizes US Gulf Coast
Few refineries on Sunday reported problems on the first day severe cold descended across the U.S. Gulf Coast, home to about half of the country's crude oil refining capacity. Exxon Mobil said it was shutting units at its Baytown, Texas, petrochemical complex on the east side of Houston, because of the freezing weather. Temperatures in Baytown are at 26 degrees Fahrenheit (minus 4 Celsius), according to data from AccuWeather.com. Exxon did not identify which units were shut at the [Read more]
Oil little changed as supply concerns temper US winter output disruptions
Oil prices were little changed on Monday after climbing more than 2% in the previous session, as supply concerns kept a lid on benchmarks despite production disruptions in major U.S. crude-producing regions. Brent crude futures fell 7 cents, or 0.1%, to $65.81 a barrel at 0221 GMT. U.S. West Texas Intermediate crude was at $61.01 a barrel, down 6 cents, or 0.1%. Both benchmarks notched weekly gains of 2.7% to close on Friday at their highest points since January 14. A U.S. military [Read more]
If elected, the Parti Québécois would not necessarily oppose new gas or oil pipelines
SAINT-HYACINTHE - A future Parti Québécois government would not rule out oil or gas pipeline projects in Quebec. Party members voted down a resolution at a PQ convention in Saint-Hyacinthe, in the Montérégie region in Quebec, on Sunday that would have barred such developments. Opponents of the motion argued it could prevent industrial facilities from accessing natural gas needed for operations and economic development. The proposal was defeated by a strong majority of [Read more]
Power prices surge as winter storm spikes demand in US data center alley
Power prices in the largest U.S. grid rose sharply on Sunday as demand in a region with the world's largest concentration of energy-hungry data centers surpassed forecasts during a deep freeze gripping half the country. Real-time wholesale electricity prices topped $1,800 per MWh early Sunday in Dominion Energy's Virginia territory, up from $200 per MWh on Saturday morning. Virginia houses the biggest cluster of data centers in the world, which are used to power things like artificial [Read more]
US seeks quick repairs to lift Venezuela oil output, Bloomberg News reports
The United States is in talks with Chevron, other crude producers, and major oilfield service providers about a plan to quickly raise Venezuela's crude production, Bloomberg News reported on Saturday, citing senior administration officials. Officials have discussed deploying SLB, Halliburton and Baker Hughes to repair and replace outdated equipment, and refresh older drilling sites, the report said. Reuters could not immediately verify the report. The White House, Chevron, SLB, Baker Hughes and [Read more]
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