• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 6 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 day "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 6 days America should go after China but it should be done in a wise way.
  • 1 day How Far Have We Really Gotten With Alternative Energy
  • 1 day World could get rid of Putin and Russia but nobody is bold enough
  • 10 hours Even Shell Agrees with Climate Change!
  • 2 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 12 days Does Toyota Know Something That We Don’t?

Breaking News:

OPEC Lifts Production in February

Editorial Dept

Editorial Dept

More Info

Premium Content

European Natural Gas Prices Are On The Rise

1. European Natural Gas Prices Start to Climb

- Bottoming out in early June, European spot natural gas prices have been on the rise ever since and are currently flirting with the €40 per MWh threshold amid Norwegian supply disruptions.

- Even though Norway’s Hammerfest LNG export terminal has solved its leakage issues and is set to resume loadings this weekend, maintenance at gas processing plants in Nyhamna and Kollsnes is keeping gas flows capped.

- Above-normal temperatures are expected in most of Northwest Europe through the upcoming month, with daily peaks well above 30° C (90° F), which should also boost the continent’s cooling needs.

- Cooling down the bullish summer sentiment, Goldman Sachs said weaker demand and available LNG volumes will mitigate the impact of lower Norwegian supply and warm weather, sending TTF prices sideways.

2. Iraqi Compliance with OPEC+ Cuts Has a Distinct Kurdish Flavour

- As oil production from Iraqi Kurdistan is still yet to see any resumption, federal authorities in Baghdad continue to play hardball with Erbil, having passed a new 2023-2025 budget this week.

- The new budget mandates Kurdistan to hand over 400,000 b/d of its oil production to state oil marketer SOMO, in return for its allocated share of 12.6% of federal funding.

- As Iraq has agreed to a voluntary OPEC+ production cut of 211,000 b/d, a resumption of Kurdish production to pre-February…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News