Released September 27, 2021 | SUGAR LAND
en
Energy Market highlights gathered by Industrial Info and IIR Energy
LNG
Asian LNG Prices Continue to Soar - Asian liquefied natural gas (LNG) prices surged by about 10% last week as demand continued to rise in the region despite higher prices and amid a supply crunch. The average LNG price for November delivery into Northeast Asia was estimated at about $26.50 to $27 per metric million British thermal units, up at least $2 from the previous week, industry sources said. (Reuters)
CRUDE OIL
Brent Crude Oil Prices Hit Highest in Almost Three Years - Oil prices rose for a third week in a row to a near three-year high on Friday as global output disruptions have forced energy companies to pull large amounts of crude oil out of inventories. Brent futures rose 84 cents, or 1.1%, to settle at $78.09 a barrel, while U.S. West Texas Intermediate (WTI) crude oil rose 68 cents, or 0.9%, to settle at $73.98. That was the highest close for Brent since October 2018 and for WTI since July 2021. (Reuters)
PRODUCTION
U.S. Drillers Add Rigs - The U.S. oil and gas rig count rose nine to 521 in the week ending September 24, its highest since April 2020, Baker Hughes Company (NYSE:BKR) (Houston, Texas) said. U.S. oil rigs rose 10 to 421 in the week, their highest since April 2020, while gas rigs fell one to 99, their lowest since August. For the month, drillers added 13 rigs, putting the count up for a 14th month in a row for the first time since July 2017. (Reuters)
.....
About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
LNG
Asian LNG Prices Continue to Soar - Asian liquefied natural gas (LNG) prices surged by about 10% last week as demand continued to rise in the region despite higher prices and amid a supply crunch. The average LNG price for November delivery into Northeast Asia was estimated at about $26.50 to $27 per metric million British thermal units, up at least $2 from the previous week, industry sources said. (Reuters)
CRUDE OIL
Brent Crude Oil Prices Hit Highest in Almost Three Years - Oil prices rose for a third week in a row to a near three-year high on Friday as global output disruptions have forced energy companies to pull large amounts of crude oil out of inventories. Brent futures rose 84 cents, or 1.1%, to settle at $78.09 a barrel, while U.S. West Texas Intermediate (WTI) crude oil rose 68 cents, or 0.9%, to settle at $73.98. That was the highest close for Brent since October 2018 and for WTI since July 2021. (Reuters)
PRODUCTION
U.S. Drillers Add Rigs - The U.S. oil and gas rig count rose nine to 521 in the week ending September 24, its highest since April 2020, Baker Hughes Company (NYSE:BKR) (Houston, Texas) said. U.S. oil rigs rose 10 to 421 in the week, their highest since April 2020, while gas rigs fell one to 99, their lowest since August. For the month, drillers added 13 rigs, putting the count up for a 14th month in a row for the first time since July 2017. (Reuters)
About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.
About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
