Venture Global, Global Oil Reserves Release: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

CRUDE OIL
U.S., Allies Set to Release Oil from Reserves - The U.S. and other member states of the International Energy Agency (IEA) on Tuesday agreed to release 60 million barrels of oil reserves to compensate for supply disruptions following Russia's invasion of Ukraine. Half of the planned release will come from the U.S., the U.S. Energy Department said after the extraordinary ministerial meeting of the 31 members of the IEA. (Reuters)

NATURAL GAS
U.S. Gas Futures Rise - U.S. natural gas futures rose 4% on Tuesday, gaining some rare support from surging global oil and gas prices as the Russia-Ukraine conflict stokes energy supply concerns. Over the past couple of months, the U.S. gas market has focused more on domestic weather and supply and demand rather than what was happening in Europe, where gas prices soared 24% on Tuesday. U.S. gas prices have followed European futures only about 40% of the time so far in 2022, down from two-thirds of the time in the fourth quarter of 2021. Front-month gas futures rose 17.1 cents, or 3.9%, to settle at $4.573 per million British thermal units. U.S. oil prices, meanwhile, jumped 8% on Tuesday on concerns over supply disruptions from Russia. (Reuters)

LNG
First LNG Cargo Departs Venture Global's Louisiana Plant - The first cargo of liquefied natural gas (LNG) produced at the new Calcasieu Pass export facility in Cameron, Louisiana, has departed, Venture Global LNG (Arlington, Virginia) said on Tuesday. The cargo of about 153,900 cubic meters of LNG was successfully loaded on the Greek-flagged tanker Yiannis. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Plant Database can click here for the plant profile. (Reuters)

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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.