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Azerbaijan’s state oil and gas company SOCAR has struck a deal with Comstock to acquire some of its assets in the Haynesville shale and an infrastructure subsidiary. The price tag of the deal is $1.65 billion. The purchase includes a 20% stake in Comstock’s legacy Haynesville assets, a 15% stake in Western Haynesville, and 15% of Comstock’s majority interest in gas infrastructure subsidiary…
Analysis-Trump’s political humbling signals short-term gain, long-term pain for China
China ties more US farm imports to reciprocal tariff cuts
A majority of European Union citizens are in favor of an accelerated transition away from oil and gas and into alternative energy sources and transport electrification, a survey conducted by the European Investment Bank has shown, as reported by Reuters, which got an exclusive look at the survey. According to the survey, which involved 23,000 respondents, 87% wanted governments to make the…
Crude oil prices moved even lower, and energy company stocks followed after the results of the U.S. midterms, as markets brace for a potentially radical change in U.S. policies. At the time of writing, Brent crude was trading at $94.30 per barrel, after dropping by 9% on Wednesday, and West Texas Intermediate was trading at $87.35 per barrel, after shedding 8% on Wednesday, following the…
Oil falls for a fourth day on expectations for lower risk of Iran war escalation
Gold extends rally above $4,100 as dollar, Treasury yields fall after U.S. vote
Energy buyers burned by the Strait of Hormuz are turning to Africa, and the money is following. The African Energy Chamber projects that Africa’s upstream sector will attract ~$40 billion a year through 2030, lifting the continent’s hydrocarbon output to 12.5 MMboe/d. Mozambique, Nigeria, Angola, Libya and Ivory Coast will take the largest shares of that capital, while new projects in Uganda,…
Oil holds steep losses after U.S. election fuels Iran peace hopes
Butane prices are surging across the world. Northwest European November butane prices have reached $1,125/t by early November, their highest level in 30 years, having exceeded even the peaks following Russia’s invasion of Ukraine. In Asia, the AFEI butane index stood at $1,180/t on November 3. US butane Belvieu prices have climbed to a 14-year high $920/t. This surge in prices reflects several…
In an extraordinary turn of events, Qatar, the world’s second-largest LNG exporter before the Iran war, will become the biggest buyer of liquefied natural gas from the United States, the producer that overtook the Gulf nation as top LNG exporter earlier this decade. This extraordinary turn of events is, of course, the result of the extraordinary disruption that the Iran war and the closure of the…
Electrification will be the major focus of the upcoming COP31 United Nations climate conference, to be held in Antalya, Türkiye, from November 9 to 20, 2026. The host country will invite the attending nations to sign onto a voluntary pledge to reach 35 percent electrification on a global level by 2035. Just a year ago, this target may have seemed overly ambitious, but now, experts say that a…
Senate Republicans ask court to overturn ruling on EPA California vehicle emissions waiver reviews
LNG spot market prices in Asia have tripled since the start of the year. Asia and Europe are locked in a race for a limited number of cargoes. The U.S. is exporting record volumes of the fuel. And QatarEnergy just extended a force majeure on its own LNG exports. The world is short on gas—and will remain so for a while. The Japan-Korea Marker, the Asian LNG benchmark, topped $31 per million…
Democrat permitting bill authors ’not going to wait’ for new US Congress
The United Arab Emirates currently operates one crude export pipeline that bypasses the Strait of Hormuz and announced earlier this year that it was building a second. A third pipeline is reportedly being planned to further expand crude capacity and reroute energy flows around Hormuz, reducing exposure to Iranian disruption and weakening Tehran's leverage over the critical maritime chokepoint.…
Northwest European diesel margins fall over 4% on oil price drop
The European Center for Medium-Range Weather Forecasts shows signs of an early disruption of the Arctic polar vortex that could send cold air into Northwest Europe as the energy-stricken continent faces a very thin supply buffer before the Northern Hemisphere winter gathers pace. We are officially in uncharted territory. The Polar Vortex is currently the weakest it’s ever been for the date and is…
Euronext wheat falls to 3-1/2 month low on euro, Black Sea hopes
Brent fell $8.94, or 8.6%, to $94.66 per barrel at 1:06 p.m. ET on Wednesday, after touching its lowest level since September 4, with traders pricing an end to the Iran war after the White House tied Tuesday’s midterm losses to the conflict. WTI dropped $8.01, or 8.3%, to $88.08. Brent traded near $118 on Friday. Trump told Fox News on Tuesday night that “I think it’s the gasoline price” when…
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