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Rolls-Royce Secures Czech SMR Deal, Expands Europe Pipeline

Rolls-Royce advanced its small modular reactor pipeline in Europe after signing a contract with the nuclear electric power generation firm CEZ to support up to 3 gigawatts of nuclear capacity in the Czech Republic, it said Friday.Rolls-Royce SMR signed an Early Works Contract with CEZ to begin development of the country's first SMR, the company said.The company will start site-specific design work at the Temelin location in the South Bohemian region, following geological studies completed in 2025, it said.The contract also covers permitting, licensing preparations and early infrastructure work required ahead of full project development, the company added.Rolls-Royce said the deal positions its SMR unit as the only provider with multiple contractual commitments to deliver reactors across Europe.The company previously secured a contract with Great British Energy Nuclear to design and build the UK's first SMRs, it said.Tufan Erginbilgic, chief executive of Rolls-Royce, said the agreement marks a key milestone that unlocks a major work program to be delivered with strategic partner CEZ Group, according to the company.He added the deal reflects confidence in Rolls-Royce's nuclear capabilities, builds on recent UK momentum and supports its transformation strategy, positioning its SMR business for leadership in Europe and global markets, it said.

Commodities106d ago

US Natural Gas Update: Futures Extend Losses on Bearish Storage Data, Weak Spring Demand

US natural gas futures extended losses in after-hours trading on Friday, pressured by bearish storage data and weak seasonal demand.The front-month Henry Hub contract, along with the continuous contract, fell 3.48% to $2.523 per million British thermal units.According to Pinebrooke Energy Advisors, natural gas prices continued their decline following an 11-cent drop in the previous session. Analysts at Gelber & Associates noted that May futures reversed sharply, erasing six consecutive days of gains in just two sessions.The firm attributed the downturn to a larger-than-expected storage injection reported Thursday by the US Energy Information Administration, which shifted market focus back to a loose spring supply-demand balance.Additionally, it said earlier price support driven by expectations of a late-season cooldown faded after data showed supply continuing to outpace consumption."With the calendar moving deeper into shoulder season, it does not take much to stall a rally, and the latest data reinforced that supply is outpacing consumption even when temperatures tilt modestly cooler," the firm said in a note on Friday.The EIA said storage levels rose by 103 billion cubic feet in the week ending April 17, exceeding market expectations and last year's build of 77 Bcf, as well as the five-year average increase of 64 Bcf. Total inventories now stand approximately 7.1% above seasonal norms.On the supply side, US production has declined modestly, falling by about 3.8 billion cubic feet per day over the past 17 days to an 11-week low of 108.3 Bcf/d, Trading Economics said. However, liquefied natural gas feedgas demand has remained robust, rising to 18.9 Bcf/d in April and putting the market on track for a potential monthly record.Separate data from NRG Energy indicated output at 106.4 Bcf, below year-ago levels, while LNG feedgas flows were reported at 18.7 Bcf/d.

Commodities106d ago

Kinder Morgan Q1 Earnings Beat Estimates, Lifts 2026 Outlook, RBC Says

Kinder Morgan's (KMI) Q1 earnings exceeded expectations, supported by stronger volumes, winter weather tailwinds and firmer commodity prices, RBC Capital Markets strategists said in a note on Friday.RBC analysts said it now expects 2026 adjusted EBITDA to come in at least 3% above its prior budget, reflecting stronger operating conditions across its network.However, despite the upbeat results, Kinder Morgan shares edged lower following the release, which analysts attributed to limited backlog growth, uncertainty surrounding its Western Gateway project and investor positioning ahead of other earnings in the sector.The broader midstream space has continued to outperform this year. The Alerian MLP Index rose 1.6% in the week ended April 23, outpacing the S&P 500, which gained 1%. Year-to-date, the midstream benchmark is up 14.5%, compared with a 3.8% rise in the S&P 500.RBC said that strength in the sector has been supported by steady cash flows and growing demand for natural gas infrastructure, even as commodity prices remain volatile.Front-month West Texas Intermediate crude rose about 2% on the week to about $97 per barrel, while Henry Hub natural gas prices slipped about 2% to $2.59 per million British thermal units.Cheniere Energy (LNG), in contrast, declined 2.1%, in what RBC analysts said could reflect positioning ahead of earnings and a rotation into other midstream names.Master limited partnerships modestly outperformed C-corporations during the week, with MLPs up 1.2% versus a 1% gain for corporates.Going forward, investors are focused on upcoming earnings from Enterprise Products Partners (EPD) and Oneok (OKE), both scheduled to report on April 28.Market participants will be watching for commentary on the impact of higher commodity prices, producer activity, project ramp-ups, export demand and capital allocation plans, as well as the effects of winter weather and evolving price spreads across key basins.RBC analysts flagged potential read-throughs for other operators, including Williams Companies (WMB), Energy Transfer (ET), Targa Resources (TRGP) and Sunoco (SUN), citing expected tailwinds from seasonal demand, marketing optimization and commodity price volatility.

$EPD$ET$KMI$LNG$OKE$SUN$TRGP$WMB

Commodities106d ago

Market Chatter: Pakistan Turns to Spot LNG Market Amid Supply Crunch

Pakistan has purchased LNG cargo from the spot market for the first time in over two years, as it moves to ease a supply shortfall linked to ongoing conflict in the Middle East, Bloomberg reported on Friday, citing traders familiar with the matter.State-run Pakistan LNG secured a shipment from TotalEnergies (TTE) for delivery April 27-30 through a tender that closed on Friday. The company declined to award two additional cargoes sought in the same tender.Pakistan LNG, TotalEnergies and the Pakistani Ministry of Energy did not immediately reply to a request for comment by.The purchase marks a shift for Pakistan, which has largely relied on long-term contracts, primarily with Qatar, for its LNG needs. The country has not received an LNG shipment since early March following the closure of the Strait of Hormuz, a critical transit route for global energy supplies.Bloomberg said ship-tracking data indicate that four Qatari LNG cargoes designated for Pakistan have remained stranded in the Persian Gulf since the conflict began in late February.TotalEnergies reportedly sold the cargo at $18.88 per million British thermal units, more than double the price Pakistan typically pays under its long-term contract with Qatar.Asian LNG spot prices have surged roughly 70% compared with pre-conflict levels, as the closure of the Strait of Hormuz has disrupted flows representing about one-fifth of global LNG supply, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$TTE

Commodities106d ago

Europe Electricity Prices Slide to Multi-Year Lows on Solar Spike, Bloomberg Analysis Says

French power prices dropped to minus 188.98 euros ($221.5) per megawatt-hour, the lowest since 2013, as solar output surged across Europe, according to a Bloomberg analysis on Friday.Solar output rose sharply this week as clear skies and cooler temperatures improved panel efficiency across western Europe, the analysis said.Production is expected to remain above seasonal norms through the weekend, supported by favorable weather conditions, the analysis added, citing MetDesk.France has rapidly expanded solar capacity, more than doubling installations over the past four years, according to BloombergNEF data, cited in the analysis.Midday supply has increasingly outpaced demand as solar generation peaks, pushing power prices into negative territory across several European markets, the analysis said.Grid constraints and limited storage capacity have restricted the system's ability to absorb excess electricity, forcing operators to scale back production to maintain balance, the analysis added.Germany may see solar output reach a record 54 gigawatts on Saturday, with additional support from strong wind generation, according to the analysis.Power prices in Germany's day-ahead market dropped to minus 190.87 euro per megawatt-hour, the lowest level in more than a year, the report said.The UK has also recorded strong solar output, with generation expected to reach around 13 GW over the weekend after setting a record earlier this week, the report added.

Commodities106d ago

Outside Investors Maintain Bullish Grip in Biofuels Futures, Options Markets, CFTC Says

Money managers remain bullish or net long in the biofuel futures and options markets, according to the Commodities Futures Trading Commission's weekly Commitments of Traders Report.The weekly COT Report, as of the week ending April 21, showed that money managers are net long, a bet that the market will go higher, in the California Low Carbon Fuel Standard market by 60,058 contracts.The COT report showed that money managers are holding a net long position of 1,115 contracts in the D6 RINS Current Year futures and options markets.In the D4 biodiesel RINS Current Year futures and options markets, money managers hold a net long position of 3,225.For ethanol, money managers are net long by 6,519 contracts in the futures and options markets.Money managers are net long soybean oil futures and options by 165,444 contracts, after adding 20,033 longs and adding 2,908 short positions from a week ago.Money managers are net short the Malaysian palm oil futures by 865 contracts.

Commodities106d ago

Weekly Biofuel Retail Prices Mostly Higher, The Digest Says

Weekly retail prices rose for most biofuels, with the exception of sustainable aviation fuel, according to price assessments from The Digest.For the week between April 15 and April 22, biodiesel's Renewable Fuel Standard value of $1.29 per gallon was flat week over week. Biodiesel's Low Carbon Fuel Standard value of $0.52/gal was up from $0.50/gal a week ago. Additionally, the biofuel's tax credit value at $1/gal and energy value of $3.27/gal were unchanged. Biodiesel's retail price of $6.08/gal on Wednesday was up from $6.06/gal a week ago.Renewable diesel's retail price of $6.67/gal this week was up from $6.63/gal a week ago. RD's energy value of $3.85/gal on Thursday rose from $3.84/gal a week ago. RD's RFS value was $1.29/gal, unchanged from a week ago. Its tax credit value at $1/gal was unchanged week over week. RD's LCFS value was $0.52/gal, up from $0.50/gal a week ago.Ethanol's weekly performance was mixed. Its LCFS value of $0.13/gal was up from $0.12/gal a week ago. Ethanol's energy value of $0.74/gal and RFS value of $1.13/gal were unchanged from a week ago. Its retail price of $2/gal was up from $1.99/gal a week ago.For sustainable aviation fuel, its energy value at $5.04/gal was down from $5.40/gal a week ago. SAF's retail price of $8.39/gal was down from $8.73/gal a week ago. SAF's RFS value was $1.29/gal, unchanged from a week ago. Its LCFS value at $0.52/gal was up from $0.50/gal a week ago, and its tax credit value was unchanged at $1.54/gal.Note: These values are for delivery into a US market with a clean-fuel standard. Conventional ethanol is modeled at a Carbon Intensity of 70, while RD, SAF, biodiesel, and cellulosic ethanol are modeled at a CI of 20, and green hydrogen at CI -5. Individual companies or processes may have CI scores that are higher or lower than those used to calculate LCFS credits.

Commodities106d ago

US Biofuels Update: Soybean Futures Recover From 2-Day Sell-Off

Biofuels feedstock futures closed higher on Friday, with soybean prices supported by the uncertainty of peace talks in Iran and the daily pattern of risk-on risk-off trades.The Chicago Board of Trade May soybean futures contract closed 0.34 higher at $11.63 per bushel, while the CBOT May soybean oil futures contract settled 0.35% higher at 71.91 cents per pound.On Thursday, the June ethanol futures contract on the Nymex ended 0.13% higher at $1.93 per gallon.Rhett Montgomery, DTN analyst, said the soybean market recovered from a two-day selloff to close the week, possibly on renewed optimism for peace talks in the Middle East over the weekend."The latest reports are that President Trump will send negotiators to meet with Iranian officials over the weekend," Montgomery stated in a daily note."As evidenced by the past month's sideways price action, it would appear soybean traders are willing at this point to wait for early growing season clues, as well as future demand hints when President Trump visits China next month," the analyst added.

Commodities106d ago

Money Managers Maintain Bullish Bets in Crude Markets, CFTC Says

Money managers in the WTI crude futures and options markets maintained their net long positions in the week ended Apr. 21, according to the Commodity Futures Trading Commission's latest Commitments of Traders report released Friday.The data showed that money managers reported 220,477 long positions, down 5,673 from Apr. 14, while short positions were down 4,830 to 77,076.Producers, merchants, processors, and users held 714,558 long positions and 390,912 short positions.

Commodities106d ago

US Sanctions China Teapot Refinery, Shadow Fleet in Iran Crackdown

The US Treasury sanctioned a China-based refinery and about 40 vessels as part of its Iran oil crackdown, expanding pressure on Tehran's energy revenue, it said Friday.The Office of Foreign Assets Control targeted Hengli Petrochemical refinery, a major buyer of Iranian crude that has purchased billions of dollars in oil products, Treasury said.US officials said independent Chinese "teapot" refineries play a key role in sustaining Iran's oil exports by purchasing large volumes of crude from the country.Hengli, based in Dalian and China's second-largest teapot refinery, has received shipments from sanctioned vessels, including BIG MAG, GALE, and ARES, which together have delivered over 5 million barrels of crude since 2023, Treasury said.The refinery has also processed oil linked to Iran's Armed Forces through Sepehr Energy Jahan Nama Pars, generating hundreds of millions of dollars for the military, the Treasury added.Treasury said the measures fall under Executive Order 13902 and support its broader campaign to curb Iran's oil trade, money laundering, and sanctions evasion networks.Since February 2025, the agency has sanctioned more than 1,000 individuals, vessels, and aircraft connected to Iran as part of its maximum pressure strategy, Treasury added.The latest action also targets Iran's shadow fleet, which links producers to buyers in Asia and helps sustain the country's oil exports despite sanctions, according to the Treasury.OFAC sanctioned 19 vessels involved in transporting billions of dollars in crude oil, liquefied petroleum gas, and petrochemical products to foreign markets, the Treasury added.Treasury Secretary Scott Bessent said, "Economic Fury is imposing a financial stranglehold on the Iranian regime, hampering its aggression in the Middle East, and helping to curtail its nuclear ambitions."

Commodities106d ago

US Natural Gas Net Exports Hit 499 Bcf on Robust LNG Trade

The US posted net natural gas exports of 499.3 billion cubic feet in February, buoyed by strong liquefied natural gas shipments to Europe, the latest data from the Department of Energy showed on Friday.The Department said total US natural gas exports reached 783.6 Bcf in February, while imports stood at 284.3 Bcf.LNG accounted for 493.6 Bcf, or 63% of total exports, underscoring the continued dominance of seaborne shipments in the US gas trade.Europe remained the primary destination, receiving 354.9 Bcf, or 71.9% of LNG exports, followed by Asia at 71.8 Bcf, Africa at 46.4 Bcf, and Latin America and the Caribbean at 20.5 Bcf.LNG exports fell 8% from January but rose 20.6% compared with February 2025, reflecting year-over-year growth in global demand despite monthly volatility.The DoE said nearly all LNG exports, about 95.8%, went to non-Free Trade Agreement countries, highlighting continued reliance on spot and contract markets outside traditional trade partners.The UK, Netherlands, Egypt, Germany, and Turkey were the top five destinations, collectively accounting for 47.3% of total LNG exports.On pipeline trade, the DoE said the US exported 177.3 Bcf of natural gas to Mexico and imported less than 0.1 Bcf, resulting in net exports of 177.3 Bcf. Trade with Canada, in contrast, resulted in net imports of 169.2 Bcf, with the US exporting 112.7 Bcf and importing 281.8 Bcf.Overall pipeline exports declined 1% from January and rose 6% from February 2025, while imports from Canada fell 26.7% month-on-month and 16.3% year-on-year.The DoE said, by mode of transport, LNG shipments via vessel totaled 493.5 Bcf, while pipeline exports reached 290 Bcf. Truck and ISO container flows remained negligible.On a year-to-date basis, LNG exports reached 1,032.6 Bcf in January-February 2026, up 25% from a year earlier, reinforcing the US position as the world's leading LNG exporter amid sustained European demand and ongoing global energy realignment.

Commodities106d ago

Enbridge Secures Approval for $4 Billion Gas Pipeline Expansion

Enbridge (ENB) said on Friday it has secured approval for its Sunrise Expansion Program, a $4 billion project to boost capacity on its Westcoast natural gas pipeline system in British Columbia.The expansion of Enbridge's Westcoast pipeline system will add about 300 million cubic feet per day of natural gas transportation capacity to southern British Columbia, with construction scheduled to begin in July 2026 and in-service targeted for late 2028.The project has been deemed in the public interest and is expected to enhance energy security and affordability by improving access to natural gas during peak demand periods, the energy firm said.Natural gas transported through the Westcoast system is used for residential heating, power generation, industrial activity, and liquefied natural gas exports.Enbridge said the project is expected to contribute over $3 billion to Canada's economy and create about 2,500 jobs during construction."The Sunrise Expansion Program is a shovel-ready, critical natural gas infrastructure project," Greg Ebel, the president and CEO of Enbridge, said, adding it supports Canada's "energy superpower ambitions."The expansion includes new pipeline segments, added compression capacity, and upgrades to existing facilities along the Westcoast system.The Westcoast pipeline system, which spans over 2,900 kilometers from northeastern British Columbia to the Canada-US border, currently has a capacity of up to 3.6 billion cubic feet per day and is partly owned by Indigenous partners representing 38 First Nations.Price: $53.14, Change: $+0.63, Percent Change: +1.21%

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Commodities106d ago

US Oil Update: Crude Retreat as Iran Foreign Minister Heads to Pakistan

Crude oil futures declined in midday trading on Friday amid signs that US-Iran peace talks may resume as Iranian Foreign Minister Abbas Araghchi is expected to arrive in Pakistan for indirect talks with US officials.Front-month West Texas Intermediate crude futures fell 2.40% to $93.53 per barrel, while Brent futures were down 0.45% to $104.56/bbl."Spot crude and product prices eased off the early-April highs on a combination of system rerouting and deal optimism," Ole R. Hvalbye, commodities analyst, said, adding that April Gulf output is reduced by 14.5 million b/d of pre-war supply.President Trump will reportedly send US peace envoy Steve Witkoff and Jared Kushner to Pakistan for peace talks with Iranian officials, as Tehran sounded a pessimistic tone on the prospects for talks to end the Middle East conflict.US officials are set to depart Saturday for talks this weekend, according to media reports.Iranian officials, led by Araghchi, are also set to arrive in Pakistan on Friday, but haven't publicly agreed to sit down with Trump's representatives. No talks are scheduled between US and Iranian officials during the foreign minister's trip, according to media reports."Embarking on timely tour of Islamabad, Muscat, and Moscow. Purpose of my visits is to closely coordinate with our partners on bilateral matters and consult on regional developments," Araghchi said in a social media post on X.Israel and Lebanon also agreed to extend their ceasefire by three weeks following a White House meeting with senior US officials, President Trump said on Thursday.The latest diplomatic developments came as the US increased pressure on Iran with its naval blockade, seeking to get Tehran to agree to talks as the conflict has evolved into a naval standoff keeping the Strait of Hormuz closed.Saxo Bank strategists said the disruption in the Hormuz threatens to further delay crude and fuel flows from the Arabian Gulf."Even a full reopening may still leave flows taking several months to normalize, creating additional tightness, especially in diesel and jet fuel, and forcing countries and companies to curb demand," the analysts said.The Strait of Hormuz has come to a near halt as tensions between the US and Iran flared up over the strategic waterway this week, prolonging the global oil supply disruption.MarineTraffic said Hormuz traffic remains constrained, with eight crossings recorded on Apr.23, flat day-over-day and far below typical volumes.While no new attacks have occurred since April 22, risks remain elevated for the 702 vessels still in the Persian Gulf, amid threats of Iranian action, US interdiction and persistent mine hazards, the shipping tracking data firm said.US Central Command posted on X Friday that the blockade against ships entering or exiting Iranian ports continues, with US forces redirecting 34 vessels so far.

Commodities106d ago

TotalEnergies Approves $1.2 Billion Kazakhstan Wind, Storage Project

TotalEnergies (TTE) approved a $1.2 billion wind and battery project in Kazakhstan expected to generate 100 terawatt-hours over 25 years, it said Friday.The Mirny project will supply renewable electricity to about 1 million people, with output sold under a 25-year power purchase agreement signed with Kazakhstan's government in 2023, TotalEnergies said.The development includes a 1 gigawatt onshore wind farm with 150 turbines and a 600 megawatt-hour battery energy storage system to support reliable power delivery, the company said.The storage system, supplied by TotalEnergies affiliate Saft, will strengthen grid stability and support Kazakhstan's expanding renewable energy capacity, according to the company.TotalEnergies holds a 60% stake in the project, while Samruk Energy and KazMunayGas each own 20%, it said.The company secured financing through a Common Terms Agreement signed with an international group of lenders supporting the project's funding structure, it said.The lending consortium includes European Bank for Reconstruction and Development, Proparco, Development Bank of Kazakhstan, DEG, Societe Generale, QNB Group, China Construction Bank and Standard Chartered.Olivier Jouny, senior vice president renewables at TotalEnergies, said the project will support Kazakhstan's plan to raise renewable energy to 15% of electricity generation by 2030, the company added.He added the 1 GW wind project will also contribute to a broader 9 GW renewables portfolio developed with Masdar through a 50/50 joint venture spanning nine Asian countries, including Kazakhstan, according to the company.Price: $89.51, Change: $-0.96, Percent Change: -1.06%

$TTE

Commodities106d ago

Reliance Industries Reports Q4 Throughput Decline; Advances New Energy Expansion

Reliance Industries on Friday reported Q4 earnings, with total throughput falling to 19.5 million metric tons from 20.3 mmt a year earlier.Production meant for sale for transportation fuel declined to 11.1 mmt for the quarter ended Mar. 31, compared with 12 mmt a year earlier, according to the company.Krishna Godavari Dhirubhai 6 gas production declined 6.4% over the year to 59.6 billion cubic feet equivalent for Q4.Coal bed methane production increased 7.4% to 2.91 Bcfe, supported by additional wells brought online, the company said.Average daily production stood at 25.2 million metric standard cubic meters for KGD6 gas and 0.92 mmscm for CBM, highlighting steady operational performance despite declines in legacy fields, Reliance said.Oil and condensate production averaged 17,310 barrels per day during the quarter, the company said.The company said it continues to focus on stabilizing output through improved well interventions, enhanced recovery techniques, and incremental development across its upstream portfolio.Reliance Industries is scaling its solar manufacturing capacity, targeting 20 gigawatt annual production across modules, cells, wafers, and glass manufacturing, and has achieved Approved List of Models and Manufacturers approval for Heterojunction Technology solar cells and modules, the company said.The company is also expanding battery manufacturing, aiming to reach 100 gigawatt-hours of annual capacity, with the first phase of 40 GWh expected to be commissioned soon, the company added.Reliance is progressing work on a large renewable energy project in Kutch, targeting over 150 GW peak installed capacity, with construction advancing alongside evacuation infrastructure, according to the company.The company has also secured a long-term agreement with Samsung C&T to supply green ammonia starting in 2029, supporting its strategy to build an integrated clean energy and fuels platform, the company said.

Commodities106d ago

US Natural Gas Update: Futures Slide on Heavy Storage Build, Soft Demand Outlook

US natural gas futures fell sharply in midday trading on Friday as bearish storage data and easing geopolitical risk sentiment outweighed lingering supply tightness.The front-month Henry Hub contract and the continuous contract both declined 3.21% to $2.53 per million British thermal units.Futures prices weakened further earlier in the day, dropping as low as $2.495/MMBtu, the lowest level since at least October 2024, an 18-month low.Prices have been under sustained pressure, with losses of 11.81% over the past four weeks and 17.53% over the past year, according to Trading Economics.The latest US Energy Information Administration report reinforced the bearish tone on Thursday, showing a storage injection of 103 billion cubic feet for the week ending Apr. 17. That beat expectations and exceeded both last year's comparable build of 77 Bcf and the five-year average injection of 64 Bcf. Total inventories now sit about 7.1% above seasonal norms.Demand remains muted as mild spring temperatures suppress heating consumption. Weather forecasts point to mostly near-normal conditions through early May, offering little support for near-term demand recovery.On the supply side, US production has eased, falling roughly 3.8 billion cubic feet per day over the past 17 days to an 11-week low of 108.3 Bcf/d. LNG feedgas demand, however, remains strong, rising to 18.9 Bcf/d in April and tracking toward a potential monthly record.NRG Energy data should output at 106.4 Bcf, below year-ago levels, while LNG feedgas flows were reported at 18.7 Bcf/d.Geopolitical risk premiums provided limited support earlier in the week due to tensions in the Middle East, but that bid faded somewhat on Friday. Reports of diplomatic engagement between Iran and the US, including planned talks involving negotiators in Islamabad focused on the Strait of Hormuz situation, reduced fears of immediate supply disruption.

Commodities106d ago

Update: US Active Rig Count Rises by 1, Baker Hughes Says

(Updated to include additional details.)The combined count of crude oil, natural gas, and miscellaneous rigs in the US rose by one to 544 in the week ending April 24, according to data from Baker Hughes (BKR) released Friday.The US oil rig count dropped by three from 410 the previous week to 407, while the number of gas rigs increased by four from 125 the previous week to 129. The number of miscellaneous rigs in the US held steady at eight from last week, the data revealed.The US had 475 oil, 107 gas, and five miscellaneous rigs in operation a year earlier.The consolidated North American oil and gas rig count, a key early indicator of future production levels, rose by one to 674 from 673 the previous week.Price: $68.50, Change: $+4.01, Percent Change: +6.22%

$BKR

Commodities106d ago

US Active Rig Count Rises by 1, Baker Hughes Says

The combined count of crude oil, natural gas, and miscellaneous rigs in the US rose by one to 544 in the week ending April 24, according to data from Baker Hughes (BKR) released Friday.The US oil rig count dropped by three from 410 the previous week to 407, while the number of gas rigs increased by four from 125 the previous week to 129.Price: $68.33, Change: $+3.84, Percent Change: +5.95%

$BKR

Commodities106d ago

US Rig Count Rises by 1, Baker Hughes (BKR) Says

Baker Hughes Company (BKR)Price: $68.54, Change: $+4.05, Percent Change: +6.28%

$BKR

Commodities106d ago

EMEA Natural Gas Update: Prices Flat as Traders Weigh Iran Peace Talks and Mixed Weather Outlook

European natural gas futures were little changed in after-hours trade on Friday after a choppy session driven by geopolitical developments and shifting expectations around renewed Iran-related peace talks scheduled for this weekend in Islamabad.Front-month Dutch TTF gas contracts edged up 0.009% to 44.40 euros ($52.02) per megawatt hour, while the UK NBP benchmark rose 0.46% to 111.40 pence ($1.51) per therm.Markets moved back and forth through the day as reports circulated that US President Donald Trump is sending special envoy Steve Witkoff and son-in-law Jared Kushner to Pakistan for discussions with Iranian Foreign Minister Abbas Araghchi. The talks are expected to take place this weekend.US Vice President JD Vance will not attend, as the perceived counterparty, Iranian parliamentary speaker Mohammad-Bagher Ghalibaf, is also reported not to be participating.Trump declined on Thursday to offer a timeline for resolving the conflict with Iran, telling reporters, "Don't rush me." The two sides remain divided on key issues presumably to be central to the Islamabad discussions.The US Navy began a blockade of Iranian ports on Apr. 13 after the collapse of the first round of talks in Islamabad. Trump reiterated on Thursday that the US has "total control over the Strait of Hormuz." However, a Financial Times report, citing Vortexa data, indicated continued vessel movements in and out of the Gulf during the blockade, including ships linked to Iranian crude exports totaling roughly 10.7 million barrels.In Europe, weather models continue to show mixed signals for late April and early May. Forecaster Atmospheric G2 said in a social media post Friday that a general warming trend is expected, but noted the possibility of colder air reaching Western Europe between Apr. 28 and May 11. Some models also indicate a potential shift toward warmer conditions from the west, which could affect central and western regions. Overall confidence in the forecast remains low.Gas market fundamentals are also being shaped by ongoing storage replenishment ahead of the next winter season. Data from Gas Infrastructure Europe shows EU gas storage levels at 30.82% capacity, below the year-ago level of 37.54%.

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Commodities106d ago