Event | MarCon* | IIR Comment | Outlet | IIR News |
Talks between Israel spy chief and mediators will start on Monday in Qatar, source tells CNN | Talks between Qatar's Prime Minister Mohammed bin Abdulrahman bin Jassim Al Thani, Israel's Mossad chief David Barnea and Egyptian officials are expected to commence on Monday on a ceasefire in Gaza in exchange for the release of hostages held by Hamas, a source with knowledge of the talks told CNN. Hamas submitted a new set of demands on Thursday, including calls for a large number of Palestinian prisoners to be released and an eventual agreement on a permanent ceasefire. |
CNN | U.S. Rig Count, SPR Solicitation, Hydrogen Funding: Your Daily Energy News | |
With the election behind him, Russia's leader says he aims to create a buffer zone in Ukraine | Russian President Vladimir Putin said after extending his rule in an election that had stifled opposition that Moscow will not relent in its invasion of Ukraine and plans to create a buffer zone along the border to help protect against long-range Ukrainian strikes and cross-border raids. The Kremlin's forces have recently made battlefield progress as Kyiv's troops struggle with a severe shortage of artillery shells and exhausted front-line units after more than two years of war. |
Washington Post | Oil Growth Coming from Just Four Countries, EIA Finds | |
Oil prices climb as attacks on Russian energy facilities intensify | Oil benchmark Brent hovered just under the $86 a barrel mark on Monday, extending last week's gains, as Ukraine increased its attacks on Russian energy infrastructure. "The strikes on Russian refineries added $2-$3 per barrel of risk premium to crude last week, which remains in place as we start this week with more attacks over the weekend," said Vandana Hari, founder of oil market analysis provider Vanda Insights. On Saturday, one of the strikes sparked a brief fire at the Slavyansk refinery in Kasnodar, which processes about 170,000 barrels of crude oil per day. |
Reuters | Three Largest Refineries Set for Startup in 2024 Face Delays | |
Oil Majors Set To Sanction $125 Billion Upstream Projects in 2024 | International oil and gas majors and the Middle East's national oil companies are expected to give the green light this year to up to 30 projects, worth a total investment of $125 billion and holding an estimated 14 billion barrels of oil equivalent (boe) of resources. That's the estimate in Wood Mackenzie's latest analysis of upstream oil and gas projects expected to reach final investment decisions (FIDs) in 2024. The consultancy expects more projects to take FID this year compared to last year's 22 sanctioned upstream developments as several projects slated for 2023 approval were delayed. |
Oil Price | Shell Modifies Climate Goals | |
Cooler weekend trends aid higher trade at the reopen as 7-week warm spell finally ends. | After 7 weeks of much lighter than normal demand, cooler vs. normal weather systems will track across the northern and central US through the end of March for closer to seasonal demand. And after the weekend weather data trended several HDDs cooler with it, natural gas prices are higher to open the new trading week. The pattern would lean more strongly bullish if not for the southern US being comfortable most days, as well as the pattern for the first week of April not looking quite cold enough. | NatGas Weather | Natural Gas Prices Tumbling, but Don't Ignore Risk | |
Climate change: The 'insane' plan to save the Arctic's sea-ice | Perched on sea-ice off Canada's northern coast, parka-clad scientists watch saltwater pump out over the frozen ocean. Their goal? To slow global warming. Geoengineering includes more established efforts to lock up planet-warming gases, such as planting more trees and burying carbon underground. But more experimental measures aim to go a step further, seeking to reduce the energy absorbed by the Earth. The ultimate goal of the Arctic experiment is to thicken enough sea-ice to slow or even reverse the melting already seen, says Dr. Shaun Fitzgerald, whose team at the University of Cambridge's Centre for Climate Repair is behind the project. |
BBC | U.S. Midwest Region Home to $2.5 Billion in Renewable-Generation Projects Under Construction | |
Week 03/11/24 - 03/18/24 | Though Spring beckons this week on the calendar, Stateside Old Man Winter is blustering - seemingly a last time before he bids adieu. Though it won't be long before those in the Northern Hemisphere are wishing for cooler temperatures as a hotter summer than even last Summer of Xtremes is on tap, it is already heating up - in another guise - in Eastern Europe as Ukrainian drone strikes target Russian energy infrastructure. And, Putin with his landslide election in the rearview plans to further mobilize troops and press on the offensive while Ukraine still seeks support from Western Allies. In the Middle East though, more talks are underway on a possible cease fire as Hamas submitted their terms late last week, but Israel still wishes to spring forward on their Rafah offensive. | |||
*MarCon (Market Condition 1-5, with 5 being the highest impact) indicates directional bias or price effect for the relevant commodity (Oil, Natural Gas, Chemicals, etc.) and is graded by our team of experts here at IIR. |