Louisiana Light • 2 days | 78.61 | -1.95 | -2.42% | |||
Bonny Light • 21 hours | 81.28 | +1.10 | +1.37% | |||
Opec Basket • 2 days | 85.00 | +1.11 | +1.32% | |||
Mars US • 28 days | 79.71 | -2.05 | -2.51% | |||
Gasoline • 5 hours | 2.121 | -0.055 | -2.51% |
Bonny Light • 21 hours | 81.28 | +1.10 | +1.37% | |||
Girassol • 21 hours | 81.92 | +1.12 | +1.39% | |||
Opec Basket • 2 days | 85.00 | +1.11 | +1.32% |
Peace Sour • 20 hours | 59.71 | -1.90 | -3.08% | |||
Light Sour Blend • 20 hours | 63.56 | -1.90 | -2.90% | |||
Syncrude Sweet Premium • 20 hours | 68.16 | -1.90 | -2.71% | |||
Central Alberta • 20 hours | 61.71 | -1.90 | -2.99% |
Eagle Ford • 2 days | 72.44 | -1.90 | -2.56% | |||
Oklahoma Sweet • 2 days | 72.00 | -2.00 | -2.70% | |||
Kansas Common • 5 days | 65.00 | -0.75 | -1.14% | |||
Buena Vista • 3 days | 83.98 | +1.45 | +1.76% |
Amid record-high U.S. crude oil…
Politicians should acknowledge that the…
We've talked before about how Japan's nuclear woes are driving global LNG prices.
With 95% of the Japanese nuclear reactor fleet idled since the Fukushima disaster, Japan has been buying all the LNG it can for power generation. Causing a noticeable lift in global pricing.
But let's not forget Korea.
News came last week that Korea will re-start two nuclear plants that had been down for maintenance. Many investors don't realize, but Korea's nuclear fleet has also been decimated of late. Currently, 8 of the country's 23 reactors are down. Many due to falsified documents discovered in May for parts at the plants.
The re-start of two will help. But it still leaves over 25% of Korean nuclear power off-line.
Combine this with Japan's nuclear issues (and an unusually hot summer in the region) and you get "the stars aligning" for a big lift in LNG demand. But it is temporary. Observers celebrating +$15/MMbtu prices in this part of the world need to remember that.
Japan is starting the process of re-starting its nuclear sector. Korea will undoubtedly push hard to do same.
Be ready when nuclear replaces gas once again.
Here's to those times when everything comes together,
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Dave Forest
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