KOLD

European gas pushes higher, recouping YTD losses, on rising supply fears

European natural gas prices jump to their highest levels since January. European gas prices have recouped 30% of their YTD losses on rising supply fears. Russian strikes on Ukrainian energy infrastructure and Middle East tensions have pushed prices higher. Europe does not source gas from the Middle East, but relies on global markets.

Weekly Report: what happened at KOLD last week (0408-0412)?

Brent crude tops $90 on Mideast fears, but IEA sees slower global oil demand growth

Crude oil futures settle higher Friday after touching their highest intraday levels in six months. The IEA sees slower global oil demand growth for 2024. The energy sector ended the week with losses for the full week. U.S. Crude stocks rose sharply and inflation came in hotter than expected.

U.S. natural gas glut to keep prices low this year before rising in 2025, EIA says

U.S. Natural gas futures fall after EIA reports larger than expected injection into storage. Inventories 38% above the five-year average for the week. The EIA expects prices to remain low this year and average $2.20/MMBtu in 2024. Crude oil futures also fall.

U.S. natural gas inventory net change of +24 Bcf for week ended April 5 - EIA

U.S. Natural gas inventory net change of +24 Bcf for week ended April 5 - EIA. Stocks for the week ending April 5, 2024 were 2,283 Bcf vs. 2,259 Bcf in the week ended March 29, 2024. Net change: EIA Weekly Natural Gas Storage Report.

Weekly Report: what happened at KOLD last week (0401-0405)?

Iraq To Resume Oil Exports To Turkey Via Pipeline Shuttered A Decade Ago Amid Kurdish Negotiation Deadlock

Iraq is reviving a dormant pipeline to Turkey. The Kirkuk-Ceyhan pipeline has been inactive for a decade. The pipeline could potentially export 350,000 barrels per day by month's end. The move comes amid stalled negotiations with the Kurdistan Regional Government. Islamic State attacks halted the pipeline's operations in 2014.

Drilling rig count slips to lowest in two months, Baker Hughes says

Energy Drilling rig count slips to lowest in two months, Baker Hughes says. Total active drilling rigs in the U.S. Fell by 1 to 620, its third straight weekly decline. Drilling rigs targeting crude oil rose by 2 to 508. Total oil and gas count is 17% below this time last year.