Oil Price The U.S. North American neighbors are emerging as the latest competitors of the United States to ship LNG to Asia, the world’s biggest and most important LNG-importing region. While U.S. LNG development has suffered a series of setbacks in recent months, Canada and Mexico are looking to tap the growing Asian market for the super-chilled fuel, analysts tell
Oil Price Back in March, S&P Global reported that a record 24 cargoes carrying nearly 1.6 million metric tons of U.S. LNG had reached Asia via the Cape of Good Hope in the first three months of 2024, with exporters choosing the much longer route and shunning the Panama and Suez canals due to various challenges. S&P reported that only 14 cargoes
Oil Price Lower domestic coal consumption and higher demand in Asia pushed U.S. exports of thermal coal in 2023 to the highest level since 2018, Reuters reported on Thursday, quoting data from ship-tracking firm Kpler. The United States exported last year more than 32.5 million metric tons of thermal – or steam – coal, used primarily in electricity generation, per the data
World Oil On Monday, Saudi Arabia raised the official selling price of its flagship crude going to Asia in March. The hike, which was the first in six months, was due to expectations of a rebound in Chinese demand. Saudi oil giant Aramco lifted the price of its flagship Arab Light grade to Asia for March loadings by $0.20
World Oil (Bloomberg) — Europe has dethroned Asia as the biggest destination for U.S. liquefied natural gas as the energy-starved region seeks to slash its dependence on Russian supplies. The U.S. sent nearly three quarters of all its LNG to Europe in the first four months of 2022, with daily shipments to the region more than tripling from last year’s
CNBC Asia will become the default market for Russian oil as the country tries to find buyers for its energy exports, said Dan Yergin, vice chairman of S&P Global. Major oil importers in Asia like China and India have been pressured by oil prices which have soared since Russia invaded Ukraine in late February. Besides the appeal of cheaper Russian
World News SINGAPORE (Bloomberg) –Asia’s relentless buying of liquefied natural gas earlier this year has left the region so well stocked for winter that spot shipments are being diverted to energy-hungry Europe. Multiple vessels are now being diverted from Asia after prices in Europe traded at a rare premium, traders with knowledge of the matter said. A looming LNG wave
Reuters LAUNCESTON, Australia – The spot price of liquefied natural gas (LNG) in Asia is usually at a seasonal low in August in what is historically the shoulder season between summer and winter peak demand. That the price of spot cargoes is at the highest for this time of year since 2013 has been largely put down to robust demand
Nasdaq RIO DE JANEIRO/MEXICO CITY/SINGAPORE – Brazil is growing its marine fuel oil exports to Asia’s lucrative premium hubs, where rules mandating lower sulphur content have been squeezing out most of its Latin American peers, according to sources and data. Fuel oil exports are the second largest source of energy revenue for most Latin American oil producers. The tougher emissions
BOE Report Oil prices fell for a second day on Wednesday on renewed demand concerns as coronavirus cases in Asia rise and on fears of rising inflation might lead the U.S. Federal Reserve to raise interest rates, which could limit economic growth. U.S. West Texas Intermediate (WTI) crude futures dropped $2.03, or 3.11%, to $63.23 a barrel, following a 1.2%
Reuters TOKYO – U.S. exports of liquefied natural gas (LNG) to China, Japan and South Korea, the biggest importers of the fuel, have surged to record highs in recent months as the heavily industrialised region recovers from the COVID-19 pandemic, Eikon trade data shows. As with the ramp-up of U.S. oil exports that forced heavyweights like Saudi Arabia to find
Reuters LONDON – Northeast Asia has been hit by a midwinter energy crisis as an extended period of much lower than normal temperatures across the region has strained supplies of coal, gas and electricity to breaking point. China has been forced to restrict power in multiple provinces, Japan has appealed for voluntary restraint, and liquefied natural gas (LNG) prices have
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