Ukraine-Russia Crisis

Global oil and natural gas prices tumbled Friday as sanctions imposed by the United States and its allies excluded Russian energy exports.  After surging by roughly 50% this week, the rally in European natural gas prices stopped Friday.  British and Dutch futures were down across the curve as Russian natural gas deliveries to Europe increased.…

Ignited by Russia’s invasion of Ukraine, natural gas futures climbed within striking distance of $5.000/MMBtu early in Thursday’s session. Traders struggled, however, in weighing the global implications of war with more bearish domestic factors, and volatility ensued in the last half hour of trading. The March Nymex contract ultimately expired at $4.568, down 5.5 cents…

With the end of winter in clear view and March forecasts far from threatening, natural gas forward prices retreated throughout the Lower 48 during the Feb. 17-23 trading period, NGI’s Forward Look data show. March fixed price forwards at benchmark Henry Hub shed 9.4 cents during the period to average $4.633/MMBtu. Front month fixed price…

U.S. oil and natural gas leaders on Thursday pledged to support Ukraine in light of Russia’s unprovoked invasion, which roiled financial markets around the world. Russian troops invaded on multiple fronts, leading to volatile jolts to commodity prices. The attack, forewarned by Russian President Vladimir Putin for months, came on the heels of major sanctions…

Mexican businessmen and officials expressed concern on Thursday over the potential natural gas supply and pricing impacts of Russia’s military strike on Ukraine. “We aren’t in favor of any war,” Mexico President Andrés Manuel López Obrador said Thursday. “Mexico has always been in favor of peace.”  He added that Mexico had a plan in place…

U.S. producers kept output flat amid commitments to discipline and rapidly evolving geopolitical tensions that reached new heights Thursday with Russia’s invasion of Ukraine. Domestic production for the week ended Feb. 19 was flat with the two prior weeks and most of 2022 at 11.6 million b/d, the U.S. Energy Information Administration reported Thursday. While…

European natural gas prices spiked while oil surged above $100/bbl Thursday amid Russian military strikes across Ukraine. The aggression triggered fears of energy upheaval that could further compress already tight global supply/demand balances. U.S. natural gas prices also climbed early Thursday, punctuating the global uncertainty imposed by Russia’s assault on the eastern European country. Russia’s…

Europe’s energy crisis has been a boon for American liquefied natural gas (LNG) exports and Russia’s incursion into Ukraine puts them in an even better position, but the attack underway is expected to not push U.S. natural gas prices significantly higher. Even before Russian President Vladimir Putin ordered military forces into Ukraine, Europe’s natural gas…

With news of Russia’s attack on Ukraine roiling energy markets early Thursday, including sending West Texas Intermediate crude to around $100/bbl, natural gas futures were up sharply in early trading. The expiring March contract was up 30.2 cents to $4.925/MMBtu at around 8:55 a.m. ET. April was up 33.0 cents to $4.923. News reports Thursday…