New England Power Rates, U.S. Fuel Stocks, Russia's Delayed LNG Production Target: Your Daily Energy News

News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

POWER
New England Power Rates Jumped in November - Wholesale electricity prices in New England jumped in November, driven by fuel costs and increased consumer demand, according to U.S. power grid operator ISO New England. Real-time power prices averaged $61 per megawatt-hour, up 52% from a year earlier, while day-ahead prices rose 51% to $59.55/MWh, the operator added. Last week, the Trump administration issued stop-work orders to two offshore windfarms that would supply the ISO New England grid with additional power. (Reuters)

TERMINALS
U.S. Stocks of Crude Oil, Fuels Rise - U.S. crude oil, gasoline and distillate inventories rose in the week ending December 19, the U.S. Energy Information Administration (EIA) said on Monday. Crude oil inventories rose by 405,000 barrels to 424.8 million barrels in the week, the EIA said. U.S. gasoline stocks rose by 2.86 million barrels in the week to 228.5 million barrels, while distillate stockpiles climbed 202,000 barrels in the week to 118.7 million barrels, the EIA data showed. (Reuters)

LNG
Russia Delays LNG Output Target by 'Several Years' Due to Sanctions - Russia has pushed back by "several years" a plan to reach an annual liquefied natural gas (LNG) output target of 100 million tons, Deputy Prime Minister Alexander Novak told state TV on Thursday, citing the effect of Western sanctions on the country's energy industry. "Our goal was to reach 100 million tons. It is clear that, due to sanctions-related restrictions, this will now be pushed back by several years," Novak told Rossiya-24 TV station, without elaborating. Russia's long-term plans to gain a fifth of the global LNG market by 2030-2035, from 8% currently, have been challenged by sanctions imposed over the conflict in Ukraine. (Reuters)

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About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).