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Pemex Reports Diesel Spill in Houston Ship Channel

Pemex Deer Park said on Sunday that the company has accidentally spilt diesel into the Houston Ship Channel, according to a Community Awareness and Emergency Response alert on Sunday.The company noted that the spill at its dock area has been fully contained with booms deployed. It said it has also notified the relevant government authorities."Cleanup efforts are ongoing, and we continue to monitor conditions, including weather, as a precaution," the company said, noting it was not aware of any impact on other users of the ship channel or the community in the area.Pemex did not respond immediately to' request for comments.

Commodities26d ago

Nuclear Fusion Industry Expanding; Commercial Plants Expected in 5 Years, Wood Mackenzie Says

The nuclear fusion industry is accelerating, thanks to recent technological breakthroughs enabling several companies to power commercial-scale fusion plants within the next five years, Wood Mackenzie said Friday.According to the research firm, the number of operational fusion machines and projects in the pipeline have increased 15% and 53%, respectively, since 2022.As one of the recent breakthroughs, Helion Energy's fusion machine reached a record plasma temperature of 150 million degrees Celsius, about ten times the temperature at the center of the sun.The startup company expects to begin operations at its first fusion plant in 2028, backed by a 50-megawatt power purchase agreement with Microsoft (MSFT) and a potential 5-gigawatt deal with OpenAI.Commonwealth Fusion Systems, meanwhile, aims to develop a grid-scale fusion generation plant in Virginia in the early 2030s, supported by a 200-MW power purchase agreement with Alphabet's (GOOG) Google.Another fusion company, Inertia, plans to break ground on its first grid-scale pilot plant in 2030, having raised $450 million in financing in February."If the fusion companies can deliver working plants on that timeline, they will be able to keep pace with suppliers of small modular reactors, the new generation of fission plants," Wood Mackenzie said.SMRs are expected to account for a large portion of the 523 GW next-generation nuclear capacity projected by 2050, although fusion plants will likely take some of the market, especially after 2040, according to the research firm.Supportive policies and private sector involvement have been critical to fusion industry's expansion.The US government's Advanced Research Projects Agency-Energy has recently announced a $135 million commitment to help advance related technologies, while private companies have raised around $10.5 billion globally to support the industry.Wood Mackenzie projects that investments in fusion power will reach about $15 billion by the end of this year."Countries' efforts to reduce their reliance on imported oil and gas will add fresh impetus to the sector's growth," the research firm said, noting that a prolonged Middle East conflict could reduce regions' dependence on energy imports by half in 2050."Fusion power could make an initially small but growing contribution to that," Wood Mackenzie said.

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Commodities26d ago

Governments Churn Out More Policy, Spend More to Manage Energy Security, Says IEA

Government spending on energy around the globe has more than doubled since 2019, the International Energy said in a report on Friday, noting that energy-related legislative activity has also intensified in that period.Most new energy spending has been directed to long-term investments in infrastructure, advanced manufacturing, renewable energy, energy efficiency and incentives for fuel switching, the State of Energy Policy report said.The IEA said more intense energy-related activity reflects a series of global shocks in recent years including the as-yet unresolved Middle East crisis, and a sharper focus on energy security and affordability.The report says that the arrival of a new energy crisis last month could see governments double-down further on energy policy, as was the case during the crises of the 1970s.Based on data from the IEA's Global Energy Policies Hub that tracks 6,500 policy measures in 84 countries, the report highlighted changes in more than 200 areas of energy policy in 2025.The report notes that governments have stepped up their focus on new types of risk, chiefly concentration of critical minerals and energy technology supply chains. About a third of critical mineral policies the IEA tracks were introduced in the last five years with export controls prominent among them."Energy policy is being shaped by a complex and evolving set of global constraints," said Laura Cozzi, IEA Director of Sustainability, Technology and Outlooks."Governments are acting to protect consumers, strengthen resilience and secure supplies, but they must also ensure that short-term responses do not come at the expense of long-term energy objectives. Choices made today may well have lasting implications for the future of energy systems."While some countries have stepped up efforts in energy efficiency and fuel switching, backsliding by others has been even more significant, in particular in road transport.While easing compliance burdens, this could leave households and businesses exposed to energy price shocks for longer, the IEA said.

Commodities26d ago

EU Not Facing Immediate Oil, Gas Supply Risks, But Headwinds to Jet Fuel Availability, Task Force Confirms

The European Commission's Energy Union Task Force Security on Friday confirmed that the region does not face any immediate oil and gas supply risks, although the availability of jet fuel remains a major concern.The Task Force met on Friday to review the energy security situation in the EU in the backdrop of the ongoing Middle East conflict, which has resulted in significant energy supply shocks.The Task Force reaffirmed the conclusion of the member state senior officials and the commission, who met earlier last week. The EU refineries were receiving a stable supply of crude oil and there was no immediate need for additional stock releases at the moment, according to a statement issued by the EC's Directorate-General for Energy."Nevertheless, prolonged disruptions in Middle East oil production and tanker traffic could pose longer-term risks. Jet fuel remains the primary concern, given that EU refineries cover around 70% of the EU's consumption, with the remainder reliant on imports," the statement added.The task force discussed the advantages of having an extended gas storage injection season as a means to prevent last-minute congestion and price spikes. They also appreciated a letter from Commissioner Dan Jorgensen to member countries urging them to use flexibility provisions under the Gas Storage Regulation and consider reaching the 80% storage target earlier in the filling season to provide greater market certainty."Finally, the Task Force welcomed and called for an acceleration of ongoing work to provide clear Commission recommendations on the implementation of EU Methane Regulation, with a focus on security of supply and legal certainty, notably with respect to penalties and compliance solutions, as agreed by Energy Ministers in December 2025," the statement added.The two-week ceasefire in the Iran war has helped stabilize energy prices, but the situation remains "volatile and uncertain" overall, the statement added.

Commodities26d ago

Proenergy Divests 768-MW Generation Assets in Ercot to Texas Cooperative in $768 Million Deal

Proenergy said on Friday that it has closed the sale of its Braes Bayou and Brotman generating stations to the South Texas Electric Cooperative for $768 million.According to the company's press release, the Texas-based generating stations, which serve the Electric Reliability Council of Texas market, generate 768 megawatts of fast-start power, using the company's own manufactured equipment, which include the PE6000 turbines.Proenergy will continue to operate and maintain the plants under an agreement, as it has since they were developed through 2021 and 2023.

Commodities26d ago

Baker Hughes to Sell Waygate for $1.45 Billion to Hexagon

Baker Hughes (BKR) said Monday has entered into a definitive agreement to sell its Waygate Technologies business to Hexagon for approximately $1.45 billion in an all-cash transaction.The transaction is subject to customary closing conditions and regulatory approvals, with an expected completion date in the second half of 2026.The buyer, Stockholm-based Hexagon, specializes in precision measurement and autonomous solutions serving industries such as aerospace, defense, automotive, and construction.

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Commodities26d ago

Oil Prices Jump Over 6% as US Prepares Naval Blockade Against Iran

Oil prices pushed back above $100 a barrel on Monday as the US prepared for a blockade of the Strait of Hormuz after peace talks ended in stalemate, renewing concerns about supply disruptions in the Middle East.West Texas Intermediate crude rose 7.27% to $103.59 a barrel, while Brent crude gained $6.67 to $101.87 per barrel.The advance followed the collapse of weekend negotiations between Washington and Tehran, which had been expected to build on a recent ceasefire and potentially ease restrictions on Iranian oil exports."Effective immediately, the United States Navy, the Finest in the World, will begin the process of BLOCKADING any and all Ships trying to enter, or leave, the Strait of Hormuz," Trump said in a Truth Social post.US Central Command, or CENTCOM, forces will begin implementing a blockade of all maritime traffic entering and exiting Iranian ports on April 13 at 10 a.m. ET, in accordance with the President's proclamation.

Commodities26d ago

Asia Biofuels Update: Malaysian Palm Oil, Crude Oil Price Movements Diverge

Malaysian palm oil price movements diverged from crude oil, as a slowdown in exports weighed on futures, despite a rally in the energy market.The Bursa Malaysia Derivatives' May and June crude palm oil contracts slipped around 0.2% to two-week lows of 4,489 Malaysian ringgit ($1,129.45) per metric ton and 4,532 ringgit/mt, respectively.Crude oil prices rallied as the US military prepared to begin a blockade of all Iranian ports in the Strait of Hormuz, after the US and Iran failed to reach an agreement during weekend peace talks.Escalating geopolitical conflict has lifted palm oil prices since late February.However, industry profits may not totally reflect surging prices as shipping disruptions cut export margins, Malaysian Palm Oil Board director-general Ahmad Parveez told The Star.Malaysia's key markets in the Middle East may also turn to nearby suppliers as shipping detours around Africa prolong transit times by almost two weeks, Parveez reportedly said.In the first 10 days of April, Malaysian shipments reportedly dropped between 30.7% and 38.9% versus month-ago levels, according to cargo surveyors. If lower exports are sustained for the whole of April, the trend could reverse a 40.7% month-over-month jump in March shipments.Anilkumar Bagani of Sunvin Group, as cited by Reuters, said further robust export performance is necessary to facilitate a drop in domestic inventories this month.CIMB Securities, as cited by New Straits Times, said Malaysian stocks could further fall to 2.2 mmt in April from 2.3 mmt in March, if higher demand is sustained and production declines.The country's export demand could get a boost from Indonesia's move to raise biodiesel blending to 50% from 40% beginning July 1.Production, on the other hand, could ease due to fertilizer supply disruptions and El Nino-related risks.

Commodities26d ago

NWS Warns of Heavy Rains, Flash Flooding in Hawaii; Heavy Snow in Sierra Nevada

The US National Weather Service on Sunday said Hawaii is expected to experience heavy rainfall through Monday, which could lead to flash flooding.Parts of Texas, the southern Plains and the Upper Great Lakes may encounter severe thunderstorms and heavy rains.Meanwhile, in California, heavy mountain snow is expected to continue in Sierra Nevada, with rain and gusty winds likely at lower elevations. The Marianas is expected to be affected by Super Typhoon Sinlaku through mid-week.The NWS early Monday issued a red flag warning for New Mexico's Raton, Clayton, Roy, and Las Vegas. TXNM Energy (TXNM) unit Public Service Co. of New Mexico and Xcel Energy (XEL) are among the primary electricity suppliers in the state.A similar warning was raised for the following places in Texas: Amarillo, Perryton, Dalhart, Dumas, Borger, Pampa, Hereford, Clarendon, Dimmitt, Plainview, and Littlefield. These places are primarily served by Xcel Energy and American Electric Power's (AEP) Texas unit.Dalton, Blairsville, and Rome in Georgia, which primarily falls under the service area of Southern Company (SO) unit Georgia Power, were also placed under a red flag warning watch.Also covered under a similar watch were Nebraska's Holdrege, Hebron, Hastings, Kearney, Aurora, Grand Island, Lexington, Broken Bow, North Platte, Ord, York, Harrison, Chadron, Alliance, Scottsbluff, Bridgeport, Harrisburg, Kimball, Sidney, Burwell, Rushville, Alliance, Chappell, Hyannis, Arthur, Ogallala, Valentine, Thedford, Tryon, Stapleton, Springview, Ainsworth Brewster, Butte, and O'Neill. The state is mostly served by the regional transmission organization Southwest Power Pool, with Midcontinent ISO also covering some areas.Oklahoma's Boise City, Guymon and Beaver were also covered under a similar watch. OGE Energy (OGE) unit Oklahoma Gas & Electric and American Electric Power (AEP) subsidiary Public Service Co. of Oklahoma are the major electric utility service providers in the state.In Colorado, a fire weather conditions warning was issued for Leadville, Buena Vista, Salida, Saguache, South Fork, Alamosa, La Veta Pass, San Luis, Canon City, Pikes Peak, Westcliffe, Pueblo, Limon, Colorado Springs, Woodland Park, Eads, La Junta, Kim, Springfield, Trinidad, Lamar, Fort Collins, Georgetown, Fairplay, Castle Rock, Deer Trail, and Sterling. The state is primarily served by Xcel Energy and Black Hills (BKH) unit Black Hills Energy.A red flag warning was also issued for Wyoming's Wright, Bill, Glenrock, Casper, Douglas, Lance Creek, Lusk, Glendo, Torrington, Garrett, Wheatland, Chugwater, Pine Bluffs, Cheyenne, Gillette, and Newcastle. PacifiCorp's Rocky Mountain Power is the major electricity provider in the state.South Dakota's Sturgis, Faith, Hill City, Rapid City, Custer, Hermosa, Wall, Phillip, Hot Springs, Edgemont, Pine Ridge, Kadoka, Philip, White River, Martin, Mission, Winner, Pierre, and Murdo. Most of these places are served by Black Hills Energy.In Kansas, a red flag warning was raised for Tribune, Scott City, Garden City, Ulysses, Dodge City, Liberal, Russell, Lincoln, Ellsworth, Great Bend, Anthony, Medicine Lodge, Hutchinson, Kingman, Oakley, Concordia, Salina, and Hill City. A flood warning was raised for areas near Concordia. Evergy (EVRG) is among the major electric utility service providers in the state.Flood warnings were also raised for certain pockets of Iowa, Illinois, Indiana, Wisconsin, Michigan and Washington, while a flash flood warning was issued for San Saba in Texas.

$AEP$BKH$EVRG$OGE$SO$TXNM$XEL

Commodities26d ago

A-1 Aims to Make Entire Fleet Debt-Free by October; Shares Up 5%

Chemicals manufacturer A-1 (BOM:542012) aims to make its entire fleet of tankers and vehicles debt-free by October, according to a BSE filing on Monday.The company has made over 90% of its fleet of tankers and vehicles debt-free, and plans to make the remaining vehicles debt-free by October.A-1 also plans to increase its fleet by adding 10 multi-excel vehicles and tankers, which will help the company's sales in the coming days. Its logistics revenue is also expected to see a significant boost.The company's shares were up nearly 5% in recent trade.

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Commodities26d ago

Repsol Refining Margins Close to Q4 2025 Levels Despite Volatile Market, RBC Says

Spanish oil and gas producer Repsol has shown modest signs of downstream strength, averaging a refining indicator of $10.90 per barrel, close to the Q4 2025 level, RBC said in a research note on Friday, with the figure inflated by strong March performance.So far in April, refining margins have been more volatile, but averaged a higher $11.50/bbl, RBC said, net of all variable costs including transport, a level the analysts said was well below margins in the market overall.This may reflect physical oil spreads as well as timing between the pricing of the crude and the final product, RBC said, noting it had seen several "messy" Q1 updates from US refiners, notably Exxon Mobil (XOM), in the last week or so.The analysts foresee refining margins structurally higher than mid-cycle levels through 2026 and 2027 due to tightness in distillate inventories and Repsol looks poised to benefit as a result.Upstream production volumes looked "disappointing" versus RBC estimates though they were influenced by a number of one-off events.RBC's revised estimates for Q1 upstream earnings were cut to 334 million euros ($390.4 million) from 339 million euros and industrial earnings were revised to 530 million euros from 606 million.Q1 adjusted net income is now expected to be 985 million euros, down from 1.09 billion euros, placing RBC's estimate 2% below consensus for the quarter.RBC also revised its own Commodity Price Deck which now foresees higher prices for this year and next and an $80/barrel long term Brent outlook, up from $70 previously.The Iran conflict is likely to lead to smaller inventories which are supportive of refining margins, the analysts said and Repsol's share price has generally tended to trade in alignment with those margins, the analysts said.RBC said it expects refining margins to be strong in 2026 and it forecasts a free cash flow yield for Repsol of 11% in 2027.RBC expects Repsol to defer the IPO it has been planning for H2 for its upstream segment until there is more robust confirmation that oil markets will remain strong in the medium term.A longer war in the Middle East raises the risk of a global recession and that in turn represents a demand-side risk for Repsol, RBC said.RBC raised its price target to 32 euros up from 29 euros previously and maintained a sector outperform rating on the company.

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Commodities28d ago

US Awards Contracts for 8.5 Million Barrels from SPR, DOE Says

The US Department of Energy on Friday said it had awarded contracts for an emergency exchange of 8.5 million barrels of crude from the Strategic Petroleum Reserve at the Bryan Mound site.The move marks the second phase of the DOE's execution of the 172-million-barrel release authorized as part of a broader coordinated release of 400 million barrels by International Energy Agency member countries aimed at stabilizing global oil markets.These awards follow DOE's recent Request for Proposal for this portion of the exchange, with deliveries beginning immediately, the DOE statement said, adding that it is aimed at addressing short-term supply disruptions.Under these awards, the DOE will move forward with an exchange of 8.5 million barrels of crude oil, which will be returned with additional premium barrels by next year.This action builds on the initial phase of the exchange, which awarded 45.2 million barrels from the Bayou Choctaw, Bryan Mound, and West Hackberry sites."Today's awards continue our work to move oil quickly to the market and help mitigate near-term supply disruptions," said Kyle Haustveit, Assistant Secretary of the DOE's Hydrocarbons and Geothermal Energy Office.He added that through this exchange structure, the DOE aimed to deliver critical barrels immediately, while returning even more to the SPR over time.

Commodities28d ago

Outside Investors Add to Bullish Stance in Soybean Oil Futures, Options Markets, CFTC COT Says

Money managers remain bullish or net long in the soybean oil 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 Apr. 7, showed that money managers are net long, a bet that the market will go higher, in the California Low Carbon Fuel Standard market by 62,703 contracts. Producers, merchants, processors, and users are net short by 80,902 contracts, a bet that the market will go lower.The COT report showed that money managers are holding a net long position of 1,650 contracts in the D6 Renewable Identification Numbers Current Year futures and options markets, while producers, merchants, processors, and users are net long by 1,322 contracts.In the D4 Biodiesel RINS Current Year futures and options markets, money managers hold a net long position of 3,590, while producers, merchants, processors, and users are net short by 2,599 contracts.For ethanol, money managers are net long the futures and options markets by 7,317 contracts. The producers, merchants, processors, and users are net short ethanol by 7,967 contracts.Money managers are net long the soybean oil futures and options by 150,682 contracts, after adding 10,686 longs and cutting 4,187 short positions from a week ago. The producers, merchants, processors, and users are net short by 273,778 contracts.Outside investors are net long the solar alternative energy credit market by 2,370 contracts, while the producers, merchants, processors, and users are net short by 8,345 contracts.Money managers are net short the Malaysian palm oil futures by 579 contracts.

Commodities28d ago

US Natural Gas Update: Futures Ease on Mild Weather Outlook, Softer Demand

US natural gas futures edged lower in after-hours trading on Friday as forecasts for milder weather across much of the country weighed on heating demand expectations.The front-month Henry Hub contract and the continuous contract both slipped 0.64% to $2.653 per million British thermal units.Weather outlooks remained a key bearish driver. Forecaster Commodity Weather Group projected above-average temperatures across the eastern half of the US through Apr. 19, reducing late-season heating demand.Seasonal "shoulder period" conditions also pressured the physical market. The US Energy Information Administration said the Henry Hub spot price fell $0.19 to $2.80/MMBtu in the week ended Wednesday, down from $2.99/MMBtu the prior week, as broadly warmer temperatures kept consumption subdued.Demand indicators reflected the softer conditions. Lower-48 gas demand was estimated at 68.3 billion cubic feet per day on Friday, down 9.7% from a year earlier, according to Barchart, citing data from BNEF.On the supply side, production showed a modest day-over-day recovery to generally strong production levels. Output rose to 107.0 Bcf/d after falling earlier in the week from 108.6 Bcf/d to 106.6 Bcf/d, according to NRG Energy. Separate BNEF data cited by Barchart put Lower-48 dry gas production higher at 111.3 Bcf/d, up 3.9% year over year.LNG demand remained robust. Feedgas flows were near capacity at an estimated 18.9 Bcf/d, NRG said, reflecting a still-tight global supply-demand balance. However, export volumes eased slightly, with LNG vessels carrying 141 Bcf in the week ended Apr. 8 across 37 tankers, down 8 Bcf and 2 tankers from the previous week, according to EIA data.On Thursday, EIA reported a 50 Bcf net injection for the week ended Apr. 3, broadly in line with the 53 Bcf build in the same week last year but well above the five-year average injection of 12 Bcf. Total inventories stood 89 Bcf above year-ago levels and 87 Bcf higher than the five-year historical average.

Commodities28d ago

France Reportedly Plans $12 Billion Annual Push to Cut Fossil Fuel Dependence

France plans to raise support for electrification to about 10 billion euros ($12 billion) annually through 2030, aiming to reduce reliance on imported fossil fuels amid global energy disruptions, according to multiple media reports.Prime Minister Sebastien Lecornu said the government will increase annual support to 10 billion euros from about 5.5 billion euros, focusing on long-term electrification instead of short-term fuel subsidies.France currently relies on imported fossil fuels for about 60% of its energy use, despite having significantly cheaper domestically produced electricity, Lecornu said in a televised address.The government aims to replace 85 terawatt-hours of gas consumption, roughly 20% of imports, with domestic electricity by 2030 as part of the transition strategy, according to the reports.Measures include installing about one million additional heat pumps annually and phasing out gas boilers in new residential buildings starting next year.By 2050, around two million social housing units are expected to eliminate gas heating, Lecornu added.France is also targeting a sharp rise in electric vehicle adoption, aiming for two out of three new car sales to be electric by 2030.Automakers are set to increase electric vehicle production to 400,000 units annually by 2027, with output targeted to reach one million units per year by 2030.The government will also roll out subsidized EV leasing from June, aimed at helping at least 50,000 low-income households access electric mobility.The government said funding will be reallocated from existing budgets and from efficiency gains, rather than through new spending, helping maintain fiscal discipline targets.Officials emphasized avoiding broad fuel subsidies, arguing such measures are costly and mainly benefit oil-exporting nations without addressing structural energy challenges.The policy shift marks a departure from earlier crisis-era support programs, as France prioritizes long-term electrification to stabilize energy costs and improve resilience.

Commodities28d 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. 7, according to the Commodity Futures Trading Commission's latest Commitments of Traders report released Friday.The data showed that money managers reported 223,091long positions, up 8,334 from Mar. 31, while short positions were also up 1,213 to 85,253.Producers, merchants, processors, and users held 724,168 long positions and 418,520 short positions.

Commodities28d ago

EDF Sees No Hit to Provisions as France Sets New Cigeo Waste Costs

France's Electricite de France said on Friday that the updated industrial reference cost for Cigeo, the country's multi-billion-euro deep geological repository for radioactive waste, will have a limited impact on its balance sheet.The state-backed utility said its current provisions, as of the end of 2025, remain aligned with the government's latest estimates.The decree, dated March 30, formalizes the latest cost trajectory for one of Europe's most ambitious infrastructure projects.The project, developed by the National Agency for Radioactive Waste Management, is designed to store high-level and long-lived intermediate-level radioactive waste hundreds of meters underground.Nuclear operators, including EDF, the Alternative Energies and Atomic Energy Commission, and Orano, are responsible for financing the site under French law. The companies are required to set aside massive financial provisions to cover the project's lifecycle, which is expected to span more than a century.The project's cost estimates are subject to periodic revisions by the energy ministry, tied to technical milestones such as commissioning and the conclusion of the "industrial pilot phase."

Commodities28d ago

Eni Unit Plenitude Closes $586 Million ACEA Deal, Adds 1.2 Million Customers

Eni (E) said Friday its unit Plenitude completed a roughly 500 million euro ($586 million) acquisition, adding about 1.2 million customers.Plenitude, a subsidiary of Eni, finalized the purchase of full ownership in Acea Energia and a 50% stake in Umbria Energy, completing a transaction previously cleared by regulators.The deal transfers around 1.2 million customers to Plenitude, though vulnerable electricity users were excluded and will remain under ACEA.The total consideration is approximately 500 million euros, based on an enterprise value of 448 million euros, adjusted for the cash position as of Dec. 31, 2024, along with other agreed financial adjustments.The structure also includes dividend-related adjustments of about 82 million euros paid to ACEA, as well as provisions tied to transaction timing and any potential financial leakages.An additional earnout of up to 100 million euros may be paid depending on operating performance, with evaluation scheduled for completion by June 30, 2027.ACEA is an Italy-based infrastructure group focused on water, energy, and environmental services, with 116 years of operations, leading Italy's water sector and expanding internationally, while emphasizing regulated assets and sustainability-driven growth.Plenitude operates in 15+ countries with 5.8 gigawatts capacity and 11 million customers, targeting 15 gigawatts, 15 million users, and 30,000 EV charging points by 2030.Price: $56.30, Change: $+0.62, Percent Change: +1.11%

Commodities28d ago

US Natural Gas Update: Futures Edge Lower in Listless Trade

US natural gas futures edged lower in subdued midday trading Friday as storage data largely matched expectations and shoulder-season demand remained weak against a backdrop of ample supply.The front-month Henry Hub contract, along with the continuous contract, fell 0.56% to $2.66 per million British thermal units.Earlier in the session, prices touched an eight-month low of $2.63/MMBtu before recovering.Analysts at Gelber and Associates said the primary driver continues to be fading weather-related demand, with warmer temperatures reducing residential and commercial consumption. Export demand, however, offered some support, with flows to Mexico holding at 7.4 Bcf/d and LNG feedgas near 20.2 Bcf/d.Production rebounded to 109.3 Bcf/d, while Canadian imports remained steady at 5.1 Bcf/d, bringing total supply to 114.4 Bcf/d and leaving the domestic market well supplied, the firm added.On Thursday, the US Energy Information Administration reported a 50 billion cubic feet injection into storage for the week ended Apr. 3. The build exceeded the prior week's 36 Bcf injection but fell short of the 57 Bcf added during the same period last year. The figure also came in above market expectations of a 41-Bcf increase, according to data compiled by Investing.com.Despite the larger-than-expected build, the Energy Buyer's Guide said the report failed to provide fresh directional momentum for prices. It noted that next week's data may show a slightly smaller injection before builds accelerate in subsequent weeks."Unless the weather turns less bearish or supply slips again, Henry Hub looks more likely to stay tied to soft spring fundamentals than to break into a broader move higher," Gelber and Associates said.

Commodities28d ago

Australia Approves Viva Energy LNG Terminal to Boost Supply Security

Viva Energy said Thursday that its Geelong LNG terminal has secured federal environmental approval, advancing a key project to support Australia's energy security.The approval, granted under the Environment Protection and Biodiversity Conservation Act, allows the liquefied natural gas terminal to proceed subject to conditions, the company said.The decision follows a favorable environmental assessment by the Victorian government last year, which cleared the project after reviewing its broader environmental impact, it added.Viva Energy said the planned terminal at Geelong Refinery Pier is positioned to deliver a reliable gas supply as domestic production declines, supporting southeast Australia's energy needs.Independent studies found the project would not affect the Corio Bay marine ecosystem or nearby Ramsar wetlands, addressing key environmental concerns, Viva Energy added.Separately, Viva Energy also noted it is working with Export Finance Australia to secure additional fuel supplies to strengthen national energy resilience during the Middle East crisis.The agreement enables faster procurement and delivery of fuel into Australia, supported by government measures including price backing and potential working capital support, it said.Viva Energy added its refining operations, national import terminals, and trading partnership with Vitol position it to respond quickly to supply disruptions and support broader fuel security efforts.

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Commodities26d ago

NWS Warns of Heavy Rains, Flash Flooding in Hawaii; Heavy Snow in Sierra Nevada

$AEP$BKH$EVRG$OGE$SO$TXNM$XEL