 |
Louisiana Light • 28 days | 81.51 | -1.33 | -1.61% | ||
|
Bonny Light • 2 days | 85.92 | -0.35 | -0.41% | ||
|
Opec Basket • 2 days | 86.27 | +0.29 | +0.34% | ||
|
Mars US • 236 days | 76.40 | -1.43 | -1.84% | ||
|
Gasoline • 10 mins | 2.534 | +0.019 | +0.77% |
|
Bonny Light • 2 days | 85.92 | -0.35 | -0.41% | ||
|
Girassol • 2 days | 87.10 | -0.49 | -0.56% | ||
|
Opec Basket • 2 days | 86.27 | +0.29 | +0.34% |
|
Peace Sour • 7 hours | 73.83 | -0.80 | -1.07% | ||
|
Light Sour Blend • 7 hours | 76.33 | -0.80 | -1.04% | ||
|
Syncrude Sweet Premium • 7 hours | 80.43 | -0.80 | -0.98% | ||
|
Central Alberta • 7 hours | 74.83 | -0.80 | -1.06% |
|
Eagle Ford • 2 days | 77.31 | -0.80 | -1.02% | ||
|
Oklahoma Sweet • 2 days | 77.50 | -0.75 | -0.96% | ||
|
Kansas Common • 2 days | 71.00 | -1.00 | -1.39% | ||
|
Buena Vista • 3 days | 86.60 | +1.15 | +1.35% |
Breaking News:
Why The IEA’s “Peak Oil” Forecast May Be Good for Energy Investors
Oil prices will remain volatile…
Canada Labels Iran's IRGC Terrorist Entity After Flight PS752 Tragedy
Canada designated Iran's Islamic Revolutionary…
Power Outage Could Reduce Norway’s Gas Supply to Europe Again
The Nyhamna plant in Norway is unavailable for natural gas processing due to a power outage with an uncertain duration at the onshore facility, data from Norwegian gas system operator Gassco showed early on Tuesday afternoon local time.
A total of 33.8 million cubic meters (mcm) out of the plant’s 79.8 mcm of technical capacity were not available as of 3 p.m. local time, with early Wednesday morning provisionally indicated as the end of the outage.
The outage comes after the Nyhamna plant was offline for several days in early June after the Sleipner hub offshore Norway was shut down.
The Sleipner Riser offshore hub is a connection point for pipelines connecting the Nyhamna plant on the west coast of Norway with the Easington terminal in the UK.
The unplanned outage highlighted the vulnerability of Europe relying on natural gas imports as Norway became Europe’s top gas supplier after the Russian invasion of Ukraine and the slump in Russian gas exports to the EU.
The Sleipner hub outage sent the Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, surging by 10% on a single day on June 3, to the highest level in six months.
The repair work on Sleipner Riser has been completed, Gassco said on June 7, and flows to the Easington terminal in the UK were restored.
Supply risks continue to pressure upward European benchmark gas prices, which have already jumped on two occasions this month as the market feared supply shocks.
One was the result of the Sleipner Riser outage, and the other was a 3% increase in the middle of last week, after German energy giant Uniper terminated its Russian gas supply contracts, leaving the market concerned about the remaining flows of gas from Russia to Europe.
The announcement from Uniper and the recent warning from OMV that Gazprom could halt gas supply to Austria due to a foreign court ruling that could interrupt OMV payments to Gazprom Export, rekindled concerns about whether Russian supply would be further limited by Gazprom.
ADVERTISEMENT
By Charles Kennedy for Oilprice.com
More Top Reads From Oilprice.com:
- Oil Prices Climb as Sentiment Continues to Improve
- U.S. Oil, Gas Drilling Activity Sees Further Declines
- Refining Margins Squeezed as Tepid Demand Casts Shadow Over U.S. Gasoline Market
Related posts
Open57.81
Trading Vol.6.96M
Previous Vol.241.7B
