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Released July 26, 2022 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
CRUDE OIL
Brent Premium to WTI Hits Widest in Three Years - The gap between the two leading crude oil benchmarks has widened to levels not seen since June 2019 as easing gasoline demand in the United States weighs on U.S. crude while tight supply supports the international Brent benchmark. Brent crude futures closed at an $8.50-per-barrel premium to U.S. West Texas Intermediate (WTI) on Friday, the widest since June 2019, excluding spikes related to contract-expiry dates, Refinitiv data shows. The spread is closely watched by U.S. exporters as the wide difference makes U.S. shipments more attractive to global buyers. (Reuters)
LNG
Sempra, Mexico's Electric Commission Look to Develop LNG Terminal in Oaxaca - Sempra Energy (NYSE:SRE) (San Diego, California) and Mexico's Federal Electricity Commission (CFE) on Thursday said they signed deals to further develop gas infrastructure projects, including a possible liquefied natural gas (LNG) terminal in Oaxaca, amid sky high demand for the fuel globally. Sempra and CFE will look to advance engineering and permitting for the planned Vista Pacifico LNG storage and export facility, expected to be located near Topolobampo in Sinaloa. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for the detailed report. (Reuters)
NATURAL GAS
U.S. Natural Gas Futures Up 5% - U.S. natural gas futures rose more than 5% on Monday as a persistent heat wave in the U.S. drove up demand for gas-powered electricity for air conditioning. Front-month gas futures on the New York Mercantile Exchange were up 42.8 cents, or 5.2%, to settle at $8.727 per million British thermal units. (Reuters)
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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) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
CRUDE OIL
Brent Premium to WTI Hits Widest in Three Years - The gap between the two leading crude oil benchmarks has widened to levels not seen since June 2019 as easing gasoline demand in the United States weighs on U.S. crude while tight supply supports the international Brent benchmark. Brent crude futures closed at an $8.50-per-barrel premium to U.S. West Texas Intermediate (WTI) on Friday, the widest since June 2019, excluding spikes related to contract-expiry dates, Refinitiv data shows. The spread is closely watched by U.S. exporters as the wide difference makes U.S. shipments more attractive to global buyers. (Reuters)
LNG
Sempra, Mexico's Electric Commission Look to Develop LNG Terminal in Oaxaca - Sempra Energy (NYSE:SRE) (San Diego, California) and Mexico's Federal Electricity Commission (CFE) on Thursday said they signed deals to further develop gas infrastructure projects, including a possible liquefied natural gas (LNG) terminal in Oaxaca, amid sky high demand for the fuel globally. Sempra and CFE will look to advance engineering and permitting for the planned Vista Pacifico LNG storage and export facility, expected to be located near Topolobampo in Sinaloa. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for the detailed report. (Reuters)
NATURAL GAS
U.S. Natural Gas Futures Up 5% - U.S. natural gas futures rose more than 5% on Monday as a persistent heat wave in the U.S. drove up demand for gas-powered electricity for air conditioning. Front-month gas futures on the New York Mercantile Exchange were up 42.8 cents, or 5.2%, to settle at $8.727 per million British thermal units. (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) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
