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EU Non-Household Power, Gas Prices Showed Declining Trend in 2025

The average price for electricity for non-household consumers in the EU in H2 2025 was 18.37 euros ($21.62) per 100 kilowatt-hours, falling from 19.03 euros in the first half of last year, the European Commission said in a statistical report on Friday.That marked the continuation of a "mild" downward trend in prices since early 2023 when non-household prices averaged 21.51 per 100 kWh. A separate report for prices of natural gas for non-household consumption showed similar trends.The reports reflect broad trends in between two separate energy crises, with prices steadily slipping after a surge prompted by Russia's invasion of Ukraine in 2022 before rocketing again after US strikes began on Iran in late February.Ireland had the highest electricity prices in H2, 2025 at 25.52 euros per 100 kWh, followed by Cyprus at 24.29 and Germany at 22.65. Finnish and Swedish prices were lowest at 7.48 euros and 9.70 euros respectively.In H2, 2025, prices fell in 18 EU countries versus H2, 2024, with the drops between 14% and 17% in Slovenia, Luxembourg and France, the Commission report said. Prices rose in five countries however, with the largest rise in Romania at 15.4%, followed by Sweden, up 9.4%, Bulgaria, up 6.8%, Belgium, up 2.8% and Slovakia, up 1.4%.The average natural gas price for non-household consumers in H2, 2025 was 6.05 euros per 100 Kilowatt hours, a drop of 8.3% from 6.60 euros in the first half of the year.The highest gas prices were in Sweden at 10.65 euros per 100 kWh with the lowest found in Portugal and Belgium with both at 4.81 euros.There were decreases in gas prices in H2, 2025 versus H2 2024 in most EU countries and increases of between 1.7% and 6.5% in four countries.

Commodities132d ago

Portugal Must Accelerate Grid Investment, Electrification to Sustain Renewable Shift, IEA Says

Portugal needs stronger grid infrastructure, expanded system flexibility and faster electrification across transport, buildings, and industry to sustain its renewable energy transition and reduce reliance on imported energy, the International Energy Agency said in its report on Friday.The report highlights the remarkable strides the country has made in renewables in recent years, particularly in solar energy, which has since resulted in it having "one of the lowest carbon intensities" among IEA member countries."Portugal has built a strong foundation through rapid progress in renewable electricity," IEA Deputy Executive Director Mary Burce Warlick said.Yet, to reach its ambitious target of achieving carbon neutrality by 2045, Portugal has to improve coordination among stakeholders, align investments, and provide greater clarity, the report said.The agency said rising renewable penetration, particularly from solar and wind, is increasing the need for system flexibility measures such as battery storage, demand-side response and other balancing resources capable of stabilizing the grid in real time.It also noted that additional investment in both transmission and distribution infrastructure will be required to integrate new renewable generation, support broader electrification, and cross-border trade within the Iberian power market.The report also highlighted the stagnant share of electric vehicles in the country's total fleet size, while recommending the expansion of state support for the sale of new EVs, alongside the rollout of charging infrastructure.

Commodities132d ago

3 Ships Carrying 2 Million Barrels Crude Each Exit Strait of Hormuz, Reuters Analysis Shows

Three very large crude carriers, carrying 2 million barrels of crude each, passed through the vital Strait of Hormuz waterway recently, with tracking devices shut down to avoid an attack from Iran, Reuters reported Monday, citing Kpler and LSEG data.VLCCs Agios Fanourios I and Kiara M, both carrying the Iraqi crude, exited Hormuz on Sunday, while the tanker Basrah Energy, loaded with Upper Zakum crude, exited the waterway on May 6, the report said.Agios Fanourios I, which was unsuccessful in crossing the Strait on at least two previous occasions, is moving towards Vietnam with its cargo expected to be unloaded at the Nghi Son Refinery and Petrochemical facility on May 26. The destination of the San Marino-flagged Kiara M, managed by a Shanghai-based firm and owned by an Marshall Islands-registered firm, was unknown, the report said.The Panama-flagged Basrah Energy was loaded with Upper Zakum crude from Abu Dhabi National Oil's Zirku terminal on May 1, which was discharged at the Fujairah Oil Tanker Terminals on May 8, it added.Meanwhile, renewed attacks by Iran on neighboring countries has likely resulted in signal interference as geolocation tracking data for some ships in the Persian Gulf indicated positions and speeds that could not be explained, Bloomberg reported Monday.According to the data, about 120 ships, located in a circle about an hour's drive inland from Abu Dhabi, appeared to be moving at about 50 knots without changing location, while a smaller group of about a dozen ships near the Oman-UAE border was shown moving at over 100 knots, Bloomberg reported.

Commodities133d ago

AG Ventures CEO Resigns

AG Ventures (BOM:506579) Chief Executive Officer Abhinaya Kumar has resigned, effective May 8, to pursue other opportunities, the company said in a same-day filing on BSE.Shares of the pneumatic products manufacturer fell nearly 2% in Monday's trade.

BOM:506579

Commodities133d ago

Saudi Aramco Posts Higher Q1 Hydrocarbon Output Despite Middle East Conflict

Saudi Aramco Sunday reported a year-over-year rise in hydrocarbon output despite interruptions from geopolitical tensions.The company's hydrocarbon production averaged 12.6 million barrels of oil equivalent per day in Q1, up from 12.3 mmboe/d in the year-ago period, according to the latest earnings results. Liquid production grew year over year to 10.6 million barrels per day from 10.3 mmbbls/d, and gas output rose to 10.51 billion standard cubic feet per day from 10.25 bscf/d.Aramco said it "rerouted crude oil volumes via the East-West pipeline to utilize alternative export routes, while also leveraging its domestic and international storage capacity."To bypass the Strait of Hormuz, the company said it diverted crude oil exports to the west coast and "sharply ramped up" its East-West pipeline to maximum capacity of 7 mmbbls/d in Q1.Aramco chief executive Amin Nasser, as cited by Reuters, said the company aims to sustain oil flow despite a constrained system, and intends to prioritize deliveries to Asia.Nasser reportedly highlighted that energy markets will take time to recover even if flows through the Strait resume, with already 1 billion barrels of oil lost in the global market over the past two months due to the conflict.In the downstream sector, Aramco's supply reliability eased to 96.3% in Q1 from 100% in the same quarter of 2025. The company's downstream facilities utilized around 51% of crude oil production, a decline from the previous year's 56%.

Commodities133d ago

Market Chatter: China's Oil Imports Record Near-Four Year Low as Supplies Decline by 20% Y-o-Y in April

China recorded a 20% year-on-year decline in its oil imports in April, marking a near four-year low, amid a continued disruption in supplies due to the effective closure of the vital Strait of Hormuz waterway, Reuters reported Saturday, citing customs data.The world's largest oil importer secured 38.5 million metric tons of crude oil last month, the lowest since July 2022, the report said. The country relies on the Middle East for nearly half of its crude oil imports.The customs data does not differentiate between sea borne crude oil shipments and pipeline deliveries, the report said.China's seaborne crude imports for April stood at 8.03 million barrels per day, which is again the lowest since July 2022, the report said, citing Kpler data.The fall in imports notwithstanding, the country's crude stockpiles rose by 17 million barrels in April, Reuters reported, citing Vortexa, but added that inventories are expected to decline in May.China's crude oil imports from January to April is 1.3% higher than the 185.3 million tons reported for the corresponding period last year, the report said.Meanwhile, restrictions in exports of refined fuels like gasoline and jet fuel amid the ongoing Middle East crisis caused a sharp fall in China's April fuel exports to 3.1 million tons, the lowest in about 10 years and about one-third down compared with March.has reached out to China National Energy Administration for a comment.(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.)

Commodities133d ago

Renewables Curtailment a Growing Structural Snag For Indian Grid as Solar Steps Up To Meet Record Demand, Says IEEFA

India successfully met a record 256 gigawatts of peak power demand on April 25 with solar providing more than 20% of this, the Institute for Energy Economics and Financial Analysis said in a Friday research note.The milestone, driven by early and intense heatwaves, saw cities like Delhi reaching demand levels usually only seen around mid-June.While the system performed without major shortages, the day's data highlighted a growing structural imbalance.The grid is becoming increasingly oversupplied during the day yet remains under strain during evening peaks.Despite managing to meet the recent record demand peak, IEEFA highlighted that 2.3 terawatt-hours of clean energy was curtailed in 2025, underscoring an urgent need for 92 GWh of battery storage to bridge a widening evening supply gap, it said.Renewables played a pivotal role in meeting the peak demand, contributing nearly one-third of the total supply.However, because solar generation fades just as evening cooling demand intensifies, the grid was forced to rely on thermal power for the majority of the load, with coal and gas meeting roughly 69% of the peak demand, the analysts noted.

Commodities133d ago

Engineering Firm Seadrill's Contract Backlog Grows to $3.1 Billion in Q1

Oil industry engineering firm Seadrill (SDRL) has recently added $860 million to its contract pipeline with work secured in the U.S. Gulf, Brazil and Angola, taking the total to $3.1 billion, it said in an earnings update on Monday.Contract revenues in the three months to March 31 were $277 million, up from $273 million in Q4, 2025.CEO Samar Ali said that growing demand for deepwater rigs has been evidenced by contracts secured in multiple global regions at a time of heightened focus on energy security providing "tailwinds into 2027".Though the quarter was loss-making for the company, with some outlays for capital additions and long-term maintenance, it managed to complete the West Jupiter and West Capella projects ahead of schedule and within budget.The two rigs started operation during Q1 and will provide mobilization revenue to the company in Q2.The company's work backlog was boosted by $480 million by a three-year extension to the contract on West Polaris with Brazilian state-run energy company Petrobras that starts in Jan. 2028.The West Neptune and West Vela rigs in the US Gulf obtained contracts with LLOG, a subsidiary of Harbor Energy, which added $260 million to contract backlog in that region. West Neptune obtained a 365-day contract extension starting in Oct. 2026.For West Vela, the program duration is 270 days commencing in September.The contract for the Sonangol Quenguela rig with TotalEnergies has been extended for 480 days from July 2028 while the West Carina contract in Brazil was extended to June 2026, the company said.

$SDRL

Commodities133d ago

Adnoc Drilling Expands Fleet, Rig Availability in Q1

Adnoc Drilling highlighted fleet expansion and improved rig availability in its Q1 results on Monday, which have supported record quarterly revenue.The company's fleet grew to 148 rigs in Q1 from 142 rigs in the year-ago period. With the acquisition of a 70% stake in SLB (SLB) and an 80% stake in MB Petroleum Services, Adnoc Drilling's pro-forma fleet in Q1 stood at 170.During the period, rig availability increased year over year to 98% from 96%. Data showed that onshore rig availability was at 99% in Q1, while offshore rig availability was at 97%.The upstream company drilled a total of 191 wells in Q1, according to the report, of which 160 were located onshore and 31 were offshore. These compare with Q1 2025's 184 wells, consisting of 149 onshore wells and 35 offshore wells.The company also reported that, for its onshore segment, revenue declined 3% year over year to $477 million. The addition of eight land rigs following a stake acquisition in SLB was offset by the impact of repurposing of onshore rigs and conversion of two onshore rigs to offshore rigs in H2 2025.The offshore segment posted a 3% year-over-year rise in revenue to $345 million, due to the addition of two new jack-ups in H2 2025, and with two converted onshore rigs.In the oilfield services segment, Q1 revenue stood at $406 million, a 19% jump from a year earlier. The number of rigs providing integrated drilling services rose to 60, compared with the prior year's 57. The number providing discrete services rose to 53 rigs, relative to 48 rigs a year earlier.For the full year of 2026, the company expects onshore revenue to reach $2 billion, while it projects offshore and oilfield services will generate $1.5 billion each in revenue.

$SLB

Commodities135d ago

Hawaiian Electric Q1 Power Sales Edge Higher, Expands Grid Investment Plans

Hawaiian Electric Industries (HE) reported Q1 earnings on Friday, showing total electricity sales of 1,972 GWh, compared with 1,965 GWh a year earlier.The company reported Hawaiian Electric sales rose to 1,457 GWh for the quarter ended Mar. 31, up from 1,453 GWh a year earlier.Electricity sales for Hawaii Electric Light were 258 GWh for the quarter, compared with 255 GWh a year earlier.Maui Electric maintained quarterly electricity sales at 257 GWh in Q1, unchanged from a year earlier, according to Hawaiian Electric.Hawaiian Electric secured approval for the Waiau Repower project with a revised estimated cost of about $1.16 billion, compared with the original $847 million estimate submitted earlier in the process.Hawaiian Electric forecast total capital expenditures of $625 million to $750 million in 2026, compared with $368 million in 2025, as the utility expands wildfire safety and grid modernization programs.

$HE

Commodities135d ago

US Natural Gas Update: Prices Soften on Slower LNG Exports

US natural gas futures prices extended losses in after-hours trade on Friday amid slower feedgas flows to LNG terminals, after earlier gains following US government data showing a smaller-than-expected inventory build.Both the front-month Henry Hub futures contract and the continuous contract edged down by 0.69% to $2.75 per million British thermal units.Prices dipped as less natural gas was used in the export system, leaving more floating around in the domestic US.Feedgas flows to LNG export terminals slowed by 4.6% from last week to 17.7 billion cubic feet on Friday, Barchart said, citing BNEF data. LNG feedgas had recently reached peak levels of about 20 Bdf per day but declined due to ongoing maintenance and operational constraints at several terminals, including Corpus Christi, Cameron, and Calcasieu Pass.Some of the deficit was offset by increased flows to the Golden Pass facility as it continues to ramp up and has recently reached record output levels during commissioning, Gelber & Associates said.A total of 30 vessels left the US carrying 115 Bcf in the week ended May 6, down five vessels and 18 Bcf from the previous week, the US Energy Information Administration said.On Thursday, prices rose after the EIA said net injections into storage totaled 63 Bcf for the week ending May 1, below analyst expectations of 72 to 80 Bcf. The build was also significantly smaller than the five-year average of 77 Bcf and last year's net injection of 104 Bcf during the same week.Thursday's total put stocks at 2,205 Bcf, 139 Bcf, or 7% above the five-year average and 75 Bcf, or 4% more than last year at this time.Production was pegged at 110.6 Bcf/d, up nearly 4% from year-ago levels and demand was 0.8% stronger than it was a year ago at 67.5 Bcf/d.

Commodities135d ago

Money Managers Uphold Bullish Stance in Biofuels Futures, Options Markets, CFTC Says

Money managers stay 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 May 5, showed that money managers are net long, a bet that the market will go higher, in the California Low Carbon Fuel Standard market by 61,602 contracts.The COT report showed that money managers are net long by 467 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 3,620.For ethanol, money managers are net long by 6,928 contracts in the futures and options markets.Money managers are net long soybean oil futures and options by 169,142 contracts, after adding 4,000 long positions from a week ago.

Commodities135d ago

Russia, Ukraine Agree to 3-Day Ceasefire, Trump Says

Russia and Ukraine have agreed to a three-day ceasefire alongside a prisoner exchange"I am pleased to announce that there will be a three day ceasefire (May 9th, 10th, and 11th) in the War between Russia and Ukraine," , Trump said in a Truth Social post on Friday.Trump added that both countries will suspend all "kinetic activity" during the temporary ceasefire period."This request was made directly by me, and I very much appreciate its agreement by President Vladimir Putin and President Volodymyr Zelenskyy," Trump added.Negotiations between the two countries to end the war that began in 2022 are still ongoing."Hopefully, it is the beginning of the end of a very long, deadly, and hard fought War," Trump said, while adding that discussions to end the conflict are moving "closer and closer every day."President Zelenskyy said in a post on X Ukraine received Russia's agreement to conduct the prisoner exchange after discussions mediated by the US administration."Red Square is less important to us than the lives of Ukrainian prisoners who can be brought home," Zelenskyy said, while emphasizing that Kyiv continues prioritizing the release of Ukrainian prisoners of war.Zelenskyy said Ukraine communicated the "principle of symmetry" in its actions to Russia following recent signals linked to Moscow events and Ukraine's long-range sanctions strategy."A ceasefire regime must also be established on May 9, 10, and 11," Zelenskyy said, adding that he instructed Ukrainian officials to quickly prepare all necessary arrangements for the exchange process.Zelenskyy thanked Trump and the US negotiating team for their diplomatic involvement and said Ukraine expects Washington to ensure Russia fully complies with the agreed ceasefire and prisoner exchange terms.

Commodities135d ago

Jet Fuel Exports Hit Seasonal Lows as Middle East Disruptions Tighten Global Supply, Vortexa Says

Global exports of jet fuel transported by sea fell for a second straight month in April to seasonal lows, as shipping disruptions in the Middle East and lower refinery activity across Asia tightened supplies worldwide, Ivan Mathews, head of APAC analysis at Vortexa, said in a Friday note.Traffic through the Strait of Hormuz remained restricted, while refineries in Northeast Asia and on India's west coast reduced operations due to lower crude oil arrivals from the Middle East Gulf. Global seaborne jet fuel exports were down by 630,000 barrels per day compared with a year earlier.Supplies are expected to improve in May and June, mainly because South Korea is likely to increase exports as crude oil imports recover to about 80% of pre-disruption levels. Higher refinery operating rates and strong profit margins for jet fuel production are expected to support additional exports.China is also expected to increase shipments to buyers in the region, while exports from Taiwan may rise after Formosa's Mailiao refinery unit resumes operations following maintenance.The increase in Asian supply is expected to weigh on jet fuel prices in the region, while tighter supply conditions on the US West Coast and in Northwest Europe are likely to encourage more long-distance shipments.Jet fuel deliveries to the US West Coast fell to seasonal lows in April and are expected to decline further in early May, worsening supply tightness after Valero closed its Benicia refinery in California. Traders are expected to send more cargoes from South Korea to the US West Coast, a journey that takes about 18 days by sea.Europe is also facing tighter conditions. Jet fuel imports into Northwest Europe are expected to fall by nearly 300,000 barrels per day in early May from a year earlier, while fuel inventories in the Amsterdam-Rotterdam-Antwerp storage hub have dropped below typical seasonal levels.Despite an expected rebound in Asian exports, traders say the additional supply is unlikely to fully replace lost Middle East volumes in the near term, keeping jet fuel prices relatively high compared with other refined fuels.

Commodities135d ago

Hawaii Legislators Pass Bill to Create Clean Fuel Standard; Governor's Signature Awaited

Hawaii's legislators sent a bill to the state's governor on Thursday that creates a Clean Fuel Standard to reward the production and use of low-carbon fuels, according to the Low Carbon Fuels Coalition.Hawaii's move would follow the success of similar policies in California, Oregon, and Washington, as well as the April 2026 implementation of a program in New Mexico, the LCFC group stated in a press release.The Hawaii legislation, if signed, would go into effect on Jan. 1, 2028, and include eligibility for aviation and maritime fuels.Governor Josh Green has until July 15 to sign the bill.Other states currently considering a clean transportation fuels standard include Massachusetts, Illinois, Pennsylvania, Maryland, Michigan, Minnesota, New Jersey, and New York.

Commodities135d 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 May 5, according to the Commodity Futures Trading Commission's latest Commitments of Traders report released on Friday.The data showed that money managers reported 214,039 long positions, down 5,611 from April 28, while short positions were down 2,066 to 82,083.Producers, merchants, processors, and users held 793,341 long positions and 444,642 short positions.

Commodities135d ago

Canadian Oil Sands Producers Could Gain From New Approval Reforms, UBS Says

UBS said Friday that Canadian Prime Minister Mark Carney may propose changes that could speed up approvals for Canadian energy and pipeline projects.According to a CBC report cited by UBS, Carney's government may introduce a revised approval framework later this week that would shorten review timelines for major resource developments to about two years.The proposed changes could replace parts of the current review structure established under Bill C-5, while still preserving mandatory consultation requirements with indigenous communities, UBS said.UBS noted that the federal government is also negotiating with Alberta under last year's memorandum of understanding, which includes plans to advance a new pipeline connecting Canada with the West Coast.Cenovus Energy said recent geopolitical developments reinforce the importance of reliable and affordable energy supplies, while Canada's oil sands remain critical for jobs, economic stability, and long-term energy security, according to UBS.Cenovus also argued that restrictive Canadian regulations have pushed investment and employment outside the country without significantly reducing global oil demand, the report added.Canadian Natural Resources said it continues working with provincial and federal governments to create a competitive fiscal framework capable of attracting investment into future oil sands expansion projects.The company said stronger policy support could help increase production growth, create high-paying jobs, and improve broader economic activity if Canada remains competitive against international investment opportunities.UBS said expanded pipeline capacity from Canada into US refining markets would benefit oil sands producers, including Canadian Natural Resources, Suncor Energy, and Cenovus Energy, as well as refiners and midstream operators across North America.Oil sands producers maintain a structural advantage because their projects experience significantly lower production declines than shale operations, although pipeline bottlenecks have historically limited additional output growth.UBS expects Western Canadian Sedimentary Basin crude production to increase by roughly 500,000 barrels per day before the end of the decade as pipeline connectivity improves between supply and refining markets.Growing geopolitical tensions are also encouraging US refiners to reduce reliance on Organization of the Petroleum Exporting Countries crude imports, making heavy Canadian oil an increasingly attractive alternative, UBS said.

Commodities135d ago

Venezuela Activates Emergency Grid Measures as Power Demand Hits Near-Decade High

Venezuela's Ministry of Electricity has activated emergency measures to stabilize the national grid after electricity consumption surged this week to its highest level in nearly a decade, the government said Thursday, warning of renewed strain on a system long marked by instability, news outlets reported.The Ministry of Electricity did not specify the measures but called on private businesses to cut usage and reiterated a ban on energy-intensive cryptocurrency mining. Officials said the spike in demand was driven by higher temperatures and increased economic activity, adding that peak consumption exceeded 15,500 megawatts on Thursday.Bloomberg reported that the rising load on the system is complicating efforts to revive key sectors such as oil, mining, and industry, all of which are heavily dependent on reliable electricity. The grid has endured years of underinvestment in hydroelectric facilities and transmission infrastructure.On Monday, Reuters reported that less than 40% of Venezuela's electricity generation capacity is currently operational, resulting in frequent blackouts and restricting industrial and manufacturing activity.Outages have been especially severe outside Caracas. In Zulia state, a major oil-producing region, residents have reported blackouts lasting six hours or more per day amid ongoing rationing.Electricity Minister Rolando Alcala, speaking on state television, said consumer cooperation was essential. "We are working hard to recover and stabilize the system," he said. "The national electrical system is the engine, the core factor, for all development activities in a country," Bloomberg reported.State media have repeatedly aired conservation messages urging households to unplug appliances when not in use as part of efforts to reduce grid load, the news agency said.Energy analysts have long warned that Venezuela's dependence on an overstretched hydroelectric system, combined with limited thermal generation capacity and maintenance gaps, leaves the grid highly vulnerable to demand spikes and climate-related stress.

Commodities135d ago

LNG Export Curbs Needed to Balance US Gas Market by 2030, TPH Says

TPH Energy Research raised its long-term Henry Hub gas price outlook to $4.50 per million British thermal units by 2029, it said in a Friday note.The firm said growing Gulf Coast demand will outpace supply later this decade, increasing pressure on the US natural gas market despite weak fundamentals expected through 2027.TPH lifted its mid-cycle Henry Hub estimate for 2029 to $4.50/MMbtu from $4/MMbtu previously, while the 2027 gas strip recently declined toward about $3.50/MMbtu, closer to the firm's existing base-case forecast.Storage inventories could exceed 4 trillion cubic feet by the end of October 2027 under TPH's model, prompting the firm to warn that gas prices may need another 25-cent to 50-cent decline to slow production growth.The research firm said lower prices could force dry gas producers to shift closer toward maintenance programs next year.TPH expects 2028 to mark a turning point for the market, with stronger gas demand overtaking supply growth and reducing storage levels toward roughly 3.65 Tcf.Further consumption growth could push US gas storage down to nearly 2.3 Tcf by 2029, creating tighter supply conditions across the domestic market, according to TPH.To maintain adequate winter gas deliverability, TPH said the US may need significantly higher Gulf Coast supply growth by 2030 or narrower spreads between domestic and international gas prices.The firm estimates the international arbitrage spread currently sits near $1.50/MMbtu, a level that could continue encouraging LNG exports instead of keeping more gas supplies inside the US market.TPH said Henry Hub prices may need to rise toward $4.50/MMbtu, while the US could also need to curtail as much as 5 billion cubic feet per day of LNG exports by 2030 to maintain sustainable domestic gas inventories.

Commodities135d 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 548 in the week ending May 8, according to data from Baker Hughes (BKR) released Friday.The US oil rig count rose by two from 408 the previous week to 410, while the number of gas rigs dropped by one from 130 the previous week to 129.The number of miscellaneous rigs in the US held steady at nine from last week, the data revealed. The US had 467 oil, 108 gas, and three 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 two to 672 from 670 the previous week.Price: $63.99, Change: $+0.46, Percent Change: +0.73%

$BKR

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Commodities135d ago