Russia-Ukraine conflict

Natural gas futures raced ahead Monday, snapping the two-day slump that closed out the prior week, as U.S. exports gathered more momentum and modest production offset cooler near-term weather forecasts. The June Nymex gas futures contract settled at $8.744/MMBtu, up 66.1 cents day/day. July gained 64.9 cents to $8.827. NGI’s Spot Gas National Avg. rose…

ConocoPhillips joined other exploration and production (E&P) companies in reporting rising earnings, thanks to geopolitical impacts to oil and gas prices, but management said it should move on “full value chain” opportunities in liquefied natural gas (LNG) to further enhance its gas business. The Houston-based independent, the world’s largest, has substantial global holdings in gas.…

Brent crude oil prices are on track to average $107/bbl in the second quarter and $103 in the second half of this year, with low inventories creating the potential for “significant price volatility,” according to the latest projections from the Energy Information Administration (EIA). Brent spot prices averaged $105 in April, a $13 sequential decrease,…

After reaching 2022 highs in April, U.S. oil producers posted a modest decline in activity last week, while demand also ticked down amid high prices, the U.S. Energy Information Administration (EIA) said Wednesday. Production for the period ended May 6 totaled 11.8 million b/d, according to EIA’s latest Weekly Petroleum Status Report. That was down…

With customer demand growing, Energy Transfer LP’s management team is confident that the Lake Charles, LA, natural gas export project will be sanctioned before the end of the year. During the recent first quarter conference call, Co-CEO Tom Mason said “we’re really excited about where we are today” regarding the pending liquefied natural gas (LNG)…

Natural gas futures on Tuesday bounced back from punishing losses the two previous sessions, as traders assessed choppy domestic production levels and new threats to global supplies amid reports of Russian forces interrupting flows to Europe. The June Nymex gas futures contract settled at $7.385/MMBtu, up 35.9 cents day/day. It marked a stark reversal after…

The operator of Ukraine’s natural gas grid reported Tuesday it would have to suspend service at a critical point for gas transport through the country because of Russia’s increased “military aggression.” Gas TSO of Ukraine (GTSOU) confirmed it was declaring a force majeure at the gas metering station at Sokhranivka and the compressor station Novopskov.…

Calfrac Well Services Ltd. put its Russian oil and gas field branch up for sale Tuesday after suspending operations in March after the country invaded Ukraine. The Calgary firm disclosed a book value of $58.8 million and liabilities of $13.9 million for its Russian assets but did not predict a sale price. Calfrac’s Russian operations…

The count of floating storage and regasification units (FSRU) headed to Germany has officially risen to four as two of the nation’s major utilities pursue fast-tracked plans to increase liquefied natural gas (LNG) capacity. RWE AG and Uniper SE each have chartered two FSRUs to displace Russian gas with LNG exports from Western allies by…