- Oil prices have been greatly boosted by crude inventories in Cushing, the delivery point for US WTI futures, falling to 22 million barrels, the lowest level since June 2022, potentially jeopardizing future pipeline transportation.
- Analysts don’t expect another spike in gas prices akin to the €343 per MWh seen last August, but gas markets remain tight on the physical side and could be easily disrupted by supply shocks.- Oil prices have been greatly boosted by crude inventories in Cushing, the delivery point for US WTI futures,to 22 million barrels, the lowest level since June 2022, potentially jeopardizing future pipeline transportation.
- Analysts don’t expect another spike in gas prices akin to the €343 per MWh seen last August, but gas markets remain tight on the physical side and could be easily- Europe is expected to install 56 GW of renewable capacity this year, equivalent to some 18 bcm of gas consumption, whilst demand for natural gas is expected to decline 8% vs. the 5-year average of 2017-2021.
- However, natural gas sold at Henry Hub has on average garnered a price 50% higher than an equivalent volume sold at the Eastern Gas South hub in Appalachia, with the latter currently trending at $1.25 per mmBtu.
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Source: i newspaper - 🏆 8. / 89 Read more »