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U.S. natural gas futures climbed about 3% to a one-week high on a decline in output in recent weeks. That price increase came despite forecasts for less demand next week than previously expected and ample amounts of gas in storage. Front-month gas futures for June delivery on the New York Mercantile Exchange rose 8.4 cents, or 3.0%, to $2.841 per million British thermal units (mmBtu), putting the contract on track for its highest close since May 4. In the cash market, average prices at the [Read more]

Buyers of electric vehicles and consumers of a diet cola in India may seem to be two groups with little in common, but they are both at risk from the fallout from the ongoing closure of the Strait of Hormuz. The longer the narrow waterway remains closed to most vessels the more pronounced second- and third-round effects will become on the world economy, which is already having to deal with higher prices for refined fuels such as diesel and gasoline and the related inflation this [Read more]

A second Qatari liquefied natural gas tanker is transiting the Strait of Hormuz days after the first such cargo crossed under an arrangement involving Iran and Pakistan, highlighting how cargoes are crossing the waterway on a case-by-case basis amid ongoing conflict risks. The vessel, Mihzem, with capacity of 174,000 cubic metres, departed Ras Laffan and is heading northeast toward Port Qasim in Pakistan, where it is expected to arrive on May 12, according to LSEG shipping data. This would be [Read more]