Oil markets saw a volatile start of the week as additional tariff threats from the U.S. and China forced prices lower on Monday, but increasing tension in the Middle East jolted prices once again on Tuesday.
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Chart of the Week
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- New England does not have a major gas storage facilities, and can see constrained supplies during winter. Spot natural gas prices at Algonquin Citygate spiked to nearly $80 per million British thermal units (MMBtu) on January 4, 2018.
- However, prices never topped $14/MMBtu in January and February of 2019, owing to higher levels of LNG imports.
- Pipeline capacity from the Marcellus Shale has been limited as new pipelines have had trouble obtaining buy-in from dense populations on the eastern seaboard.
Market Movers
• Equinor (NYSE: EQNR) shut oil and gas production at its Oseberg field last week, although the outage is only expected to be temporary.
• Shell Midstream…
