The spot natural gas price in New England soared to an average of $20.55 per million British thermal units (MMBtu) in January 2022 as reported by the Algonquin Citygate, the benchmark for natural gas prices in New England and a trading hub. This is the highest average price since February 2014. With a cold start […]
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Earlier this week, the U.S. and Germany announced they would come to an agreement resolving the long dispute over Russia’s $11 billion Nord Stream 2 pipeline project. The project is an offshore natural gas pipeline that runs under the Baltic Sea from Russia to Germany. The project began in 2018, with plans for completion sometime […]
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Oil prices are edging slightly higher today on very light holiday trading volume, but the question is: have prices risen too far too fast?
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Earlier this month both China and Russia reported that they have developed a Covid-19 vaccine that has been clouded by doubt throughout the world since Phase III testing had not been performed. The vaccines have been developed by CanSino Biologic from China and the Gamaleya Institute in Moscow and are a modification of adenovirus type […]
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With the global COVID-19 case count reaching 20 million, Russia has approved a vaccine for the disease. There is, however, suspicion around the approval since the trials have yet to conclude the Phase 3 testing. To solidify the vaccine approval, Russian President Vladimir Putin, stated the vaccine is working “effectively enough”- far too vague for […]
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The United States has joined the United Nations and Libyan government’s investigation into the potential brokering of an unlawful sale of Libyan oil by General Khalifa Haftar. The rebel general reportedly traveled to Venezuela to discuss oil contracts to raise money for his Libyan National Army (LNA) through the sale of crude oil. Libya’s National […]
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OPEC+ came to an agreement earlier this month to institute record-breaking production cuts of nearly 10 million barrels per day. The production cuts were set to take effect on May 1st, but some members have taken it upon themselves to start earlier. Kuwait and Saudi Arabia have both made the decision to start scaling back […]
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In an attempt to curtail the downward plunge of global oil prices, Russia is considering supporting cuts among OPEC and its partners. On Thursday, Sergey Lavrov, Russia’s top diplomat, confirmed Russia’s support for production cuts following a conversation between President Putin and the King of Saudi Arabia. However, Energy Minister Alexander Novak said on Friday […]
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This past Monday, China has launched its new oil and gas pipeline group. This group consists of multiple assets combined into one group with a net worth of between 80 – 105 Billion USD. This has been a plan of China for years, but according to reports, it was just approved this past year.
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WTI oil prices rose Monday morning to $56.94/barrel due to a barrage of bullish headlines which puts this year’s oil rally north of 22% and climbing.
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