Joe Raia

STORAGE PREDICTION -- Gelber & Associates Predicts +83 Bcf Injection Into Storage for Week Ended April 19th: NYMEX natural gas futures are down -$0.10, last trading at $1.71/MMBtu. LNG feedgas nominations are down -0.3 Bcf/d today to 12.5 Bcf/d; normally the change would not be impactful, but prices continue to be sensitive to updates in LNG following the recent situation at Freeport which continues to evolve. In the afternoon yesterday, the terminal failed to take confirmed deliveries, the news of which has so far marked the end of the week’s uptrend. This morning’s open has seen further pressure to the downside. Meanwhile, weather forecasts continue to indicate warmer temperatures as the shoulder season continues. For the week ended April 19th, many analysts anticipate an injection of more than 80 Bcf, which would surpass both the five-year average and the previous year's additions. Fundamentals indicate that US natural gas storage injections should be high relative to historical standards, with the driving factor being continued mild weather that reduced heating and cooling demand. Net demand in the Lower 48 also fell week-over-week due to lower LNG feedgas deliveries, although a decline in production partially offset this drop. Gelber & Associates anticipates an 83 Bcf injection into storage for the week ended April 19th. EIA's Weekly Petroleum Report Shows Largest Drop in Crude Inventories in 3 Months: Crude oil futures are down -$0.50, last trading at $82.86/bbl. Macroeconomic data released today was somewhat unremarkable as mixed indicators left sentiment in a similar spot as days previous. A surprise to the downside in crude stockpiles was shown in the EIA’s weekly petroleum report this morning, with the 6.4 million barrel decrease last week being the largest in 3 months and handily beating market expectations of a +1.6 million barrel change. Any bullish support this provided has been somewhat limited, especially as the rest of the report showed gasoline and distillates did not see draws as heavy as expectations. #Naturalgas #Oilandgas #Commodities #NYMEX #HenryHub #Trading #Hedging #Gelber #markets #LNG #OPEC #Crude #oil #EIA #gas #gelber #WTI #USA

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The May analysis of the OPIS Bottom Line Report provides additional insight into offers observed in the downstream oil markets in the US at prices under the OPIS Terminal Rack Low. In May, OPIS observed some offers at about 4.46cts/gal less than posted prices for gasoline, compared to the approximate 5.3cts/gal in April. See the detailed analysis: https://bit.ly/42SOBXI #OilAndGas #Gasoline #Diesel #OilMarkets

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In this quarter’s issue of Value Focus: Exploration & Production, Mercer Capital takes you deep into the heart of Eagle Ford. Learn how this region navigates the complexities of the oil market, maintaining high production with fewer rigs and benefiting from stable commodity prices. With the Permian Basin's targets dwindling, Eagle Ford shines as a prime area for M&A activities. https://mer.cr/4aYYUMQ | #eagleford #oilandgas #energy #mergersandacquisitions

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By extending output cuts into 2025 but planning on winding back some in the fourth quarter, OPEC+ is effectively betting that its view of robust global crude oil demand growth this year is correct. However, import growth in the key Asia region in the first five months of the year has been negligible, meaning a very strong second half will be needed. #crude #crudeoil #OPEC #commodities #energy #oil

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Gelber Gas Daily (+ crude!) #NaturalGas -- Market Participants Speculate on Freeport's Return to Service, Baker-Hughes Rig Count Flat: NYMEX natural gas futures are up $0.06, last trading at $2.33/MMBtu. To end the week, production pushed up a full 1 Bcf/d, landing at 101.7 Bcf/d based on early-cycle measurements. Given that several days this week have seen large revisions, however, that metric could change when the numbers on later-day nominations are released. Last measured at 11.2 Bcf/d, LNG feedgas demand remained weak. Power outage numbers are still high at about 1 million, but progress is being made. Last night Centerpoint released an update indicating expectations to have 80% of customers back online by end-of-day on Sunday. The latest US oil and gas rig count from Baker-Hughes saw total US rigs nearly unchanged from last week’s 585 rigs for the week ending July 12th. Gas-focused rigs saw a drop of just 1. Most basins were flat week-over-week, though Granite Wash was the sole basin with an increase of rigs, at just 2 more. Rig counts have continued to drop due in part to drilling efficiencies and more recently, impacts from mergers. The latter factor includes consolidation in the Bakken Shale with Devon Energy's recent $5 billion bid for Grayson Mill Energy's Bakken assets, as well as ConocoPhillips' $22.5 billion acquisition of Marathon Oil. #Crude -- Crude Trades Sideways as Markets Weigh OPEC+ Production Among Other Factors: WTI crude oil futures are trading flat today, up just 3 cents from yesterday’s settlement and last trading at $82.58/bbl, due to a balanced outlook on supply and demand. The market is observing a narrow trading range because of sufficient spare capacity among OPEC+ producers and a stable supply outlook from non-OPEC countries like the U.S., Brazil, and Canada. This lack of volatility is expected given the current balanced market conditions and no significant geopolitical disruptions impacting oil flows. #Oilandgas #Commodities #NYMEX #HenryHub #Trading #Hedging #Gelber #markets #LNG #OPEC #oil #EIA #gas #gelber #WTI #Energy

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The recent wave of M&A activity could point to a resurgence in the oil & #gasindustry. Matador Resources' $1.9bn acquisition of Permian Basin properties and Noble Corp.'s $1.6bn acquisition of Diamond #OffshoreDrilling are examples of companies taking bold steps to expand their operations. With their strong asset bases and solid financial prospects that can capitalize on the #oil industry's recovery, these companies could attract investors. But as always, it's still important to conduct thorough research before making any decisions. https://loom.ly/95l4g6k

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Oil prices showed stability early on Friday with slight gains, driven by expectations of OPEC+ maintaining output cuts. However, concerns over the U.S. economy and limited oil supply disruptions due to the Israel-Hamas conflict weighed on crude benchmarks, leading to weekly losses. Brent crude futures for July rose by 16 cents to $83.83 a barrel, while U.S. West Texas Intermediate crude for June was up 19 cents at $79.14 per barrel. Both benchmarks are set for weekly declines amidst worries of higher interest rates affecting U.S. growth and ongoing geopolitical tensions in the Middle East. #usa #crudeoil #brent #opec #middleeast

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The law of equity is very important to provide U.S investors with investor protection when raising funds in the U.S.A for international oil & gas SMEs. When you know...you can trust. #mithrilinternational #internationalbusiness #investment #invest #fund #fundraising #capital #crossborder #alternatives #SME #internationalSME

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The law of equity is very important to provide U.S investors with investor protection when raising funds in the U.S.A for international oil & gas SMEs. When you know...you can trust. #mithrilinternational #internationalbusiness #investment #invest #fund #fundraising #capital #crossborder #alternatives #SME #internationalSME

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🚀 Engelhart Commodities Trading Partners to Acquire Trailstone, Advancing Clean Energy Transition Engelhart Commodities Trading Partners has agreed to acquire Trailstone, a global energy and technology company, from Riverstone. This significant acquisition, expected to complete in Q3 2024 pending regulatory approval, highlights a strong commitment to the clean energy transition. 🔋 Strategic Impact The acquisition enhances Engelhart’s trading and technological capabilities, reinforcing its position in power, natural gas, and environmental product trading. Trailstone’s expertise in renewable power asset management and its robust natural gas business will complement Engelhart’s operations, driving value and sustainability. 🌍 Commitment to a Sustainable Future Both companies share a vision of a decarbonized energy landscape. This move aligns with Engelhart’s strategy to strengthen its global power and gas trading platform and support the clean energy transition actively. 🗣️ Leadership Insights Huw Jenkins, CEO of Engelhart, remarked, “This acquisition is crucial for our long-term strategy to enhance our energy trading platform and technological capabilities. Trailstone’s innovation in renewables trading is impressive, and we believe this merger will be highly beneficial for both companies.” John Redpath, CEO of Trailstone, expressed, “Joining Engelhart is a significant moment for Trailstone. Our complementary strengths will allow us to expand our renewables and power & natural gas businesses, creating more value in the clean energy transition. I am excited about the future as we move forward as one business.” 🔗 Looking Ahead With regulatory approval pending, the combined resources and expertise of Engelhart and Trailstone promise a bright future in advancing the clean energy transition. Stay tuned for more updates on this exciting development! #EnergyTransition #CleanEnergy #Sustainability #Renewables #Trading #Technology #Acquisition #Engelhart #Trailstone https://lnkd.in/e7Cd-6dK

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🇺🇸 Discover what’s happening now in the US refined oil products export market as medium range (MR) tanker rates in the US Gulf coast rebound from 2024 lows, and much more, in this latest podcast: https://okt.to/jDgExI #ArgusMedia #oilindustry #refinedproducts #tankerrates #shipping

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Exciting news from Tellurian! The U.S. natural gas company has struck a significant deal, selling upstream assets and securing an LNG purchase agreement with Aethon Energy. This landmark agreement, valued at US$260 million, includes the sale of integrated assets and a contract to supply two million tons per year of LNG from Tellurian's Driftwood LNG plant in Louisiana. The Driftwood LNG project marks a pivotal phase in Tellurian's growth strategy, with plans for a liquefaction export facility boasting a total capacity of 27.6 mtpa. Martin Houston, Tellurian’s CEO, sees these agreements as a major step forward, accelerating the Driftwood LNG project and aligning commercial offerings with market demand. Proceeds from the asset sale will fortify Tellurian's financial position, enabling it to retire debts and bolster its long-term balance sheet. Meanwhile, Aethon's acquisition expands its presence in key shale basins, promising enhanced collection and treatment capacity. Read more about this, in the following link: https://lnkd.in/epNf2b-k #Tellurian #LNG #EnergyIndustry #DriftwoodLNG #Sustainability #NaturalGas #AethonEnergy

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🇺🇸 𝗡𝗲𝘄𝘀 𝘀𝘁𝗼𝗿𝘆: 𝗨𝗦 𝗴𝗮𝘀 𝗯𝗲𝗻𝗰𝗵𝗺𝗮𝗿𝗸 𝗹𝗼𝗼𝘀𝗲𝗻𝘀 𝗴𝗿𝗶𝗽 𝗼𝗻 𝗸𝗲𝘆 𝗔𝗽𝗽𝗮𝗹𝗮𝗰𝗵𝗶𝗮 𝗵𝘂𝗯 | 𝗔𝗿𝗴𝘂𝘀 𝗠𝗲𝗱𝗶𝗮 A key natural gas trading hub in the Appalachian production region has become largely untethered from the US gas futures benchmark over the past year as increasingly full pipelines have isolated Appalachia from the broader domestic market. For much of the last year, spot prices at Columbia Gas, Appalachia, a key gas hub in the mammoth Marcellus shale basin of Appalachia, have moved almost entirely independently of the front-month Nymex settlement at the US benchmark Henry Hub in Louisiana, which is the most well-known US gas price. On sessions ended June 2023 through February 2024, the three-month correlation coefficient — an indicator of how closely two data points move together — between the two prices averaged just 8pc, a negligible correlation. By Julian Hast: https://okt.to/bdykMN #ArgusMedia #naturalgas #benchmarks

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🇺🇸 𝗡𝗲𝘄𝘀 𝘀𝘁𝗼𝗿𝘆: 𝗨𝗦 𝗴𝗮𝘀 𝗯𝗲𝗻𝗰𝗵𝗺𝗮𝗿𝗸 𝗹𝗼𝗼𝘀𝗲𝗻𝘀 𝗴𝗿𝗶𝗽 𝗼𝗻 𝗸𝗲𝘆 𝗔𝗽𝗽𝗮𝗹𝗮𝗰𝗵𝗶𝗮 𝗵𝘂𝗯 | 𝗔𝗿𝗴𝘂𝘀 𝗠𝗲𝗱𝗶𝗮 A key natural gas trading hub in the Appalachian production region has become largely untethered from the US gas futures benchmark over the past year as increasingly full pipelines have isolated Appalachia from the broader domestic market. For much of the last year, spot prices at Columbia Gas, Appalachia, a key gas hub in the mammoth Marcellus shale basin of Appalachia, have moved almost entirely independently of the front-month Nymex settlement at the US benchmark Henry Hub in Louisiana, which is the most well-known US gas price. On sessions ended June 2023 through February 2024, the three-month correlation coefficient — an indicator of how closely two data points move together — between the two prices averaged just 8pc, a negligible correlation. By Julian Hast: https://okt.to/hxBUkX #ArgusMedia #naturalgas #benchmarks

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