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Energies
Energies
Heating Oil Surges to Record High
US heating oil prices surged past $4.70 per gallon in early September, hitting a fresh record and leaving prices about 100% higher than a year earlier amid tightening distillate markets. Supply risks have intensified as escalating tensions between the US and Iran raise concerns over oil flows through the Strait of Hormuz, while Ukrainian attacks […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Energies
European Gas Advances on Rising US-Iran Hostilities
European natural gas prices rose further to €75/MWh on Wednesday, the highest level since January 2023, as rising hostilities between the US and Iran heightened fears of a prolonged disruption to LNG supplies from the Persian Gulf. Iran struck back at US military bases in Jordan, Kuwait and Bahrain following the latest US attacks on […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Energies
US Natural Gas Prices Rise
US natural gas prices rose to $2.94/MMBtu, reaching their highest level in nearly eight weeks, as hot weather persisted and LNG export activity strengthened. Forecasts indicate that temperatures will remain mostly above normal across the central US through mid-September, likely keeping demand for gas-fired power generation elevated. At the same time, average gas flows to […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Energies
WTI holds above $85.50 as Middle East risks tighten global supply
Akhtar FaruquiFXStreet West Texas Intermediate (WTI) oil price gains ground for the second successive day, trading around $85.60 per barrel during the Asian hours on Tuesday. Crude oil prices are climbing following a fresh wave of hostilities in the Middle East that has renewed fears over potential disruptions to regional energy flows. The escalation broke […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Energies
Heating Oil Nears 5-Month High
US heating oil prices rose to around $4.45 per gallon, nearing a five-month high and leaving prices about 80% higher than a year earlier, as US distillate inventories remain well below seasonal norms. Distillate stocks fell by 2.2 million barrels to 103.4 million barrels in the week ending August 21, their lowest August level in […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Energies
Crude Oil Rallies on Fresh US-Iran Strikes
Crude oil rose more than 3% to above $86 a barrel on Monday as tensions in the Middle East escalated, with the US and Iran exchanging strikes for the first time in roughly a month and new concerns emerging over shipping through the Strait of Hormuz. US forces targeted Iranian rocket launchers that were reportedly […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Energies, Institutional, Technical Analysis
Chart of the Day: Middle East escalation boosts oil prices
Crude oil has once again become a hostage of geopolitics. Attacks in the Persian Gulf region and increasing restrictions on transit in the Strait of Hormuz have pushed demand fundamentals into the background. Although backwardation at the short end of the oil market curve is not as strong as it was 5 months ago, this […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Energies
Iran’s IRGC says will respond decisively to any further hostile military aggression
Iran’s Islamic Revolutionary Guard Corps (IRGC) on Monday that its aerospace forces carried out retaliatory drone and ballistic missile strikes against US targets at two air bases in Jordan earlier in the day, Reuters reported. IRGC said in a statement that the strikes were in response to the “U.S. and Israeli air aggression” against Iran’s southern Larak Island […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Energies, Technical Analysis
WTI rises to near $84.50 as IRGC claims supertanker struck by mines in Hormuz
West Texas Intermediate (WTI) rebounds and continues its intraday gains, trading around $84.40 per barrel during the Asian hours on Monday. Crude oil prices spike following claims by Iran’s Islamic Revolutionary Guard Corps (IRGC) that a rogue supertanker caught fire in the Strait of Hormuz after hitting two naval mines along the waterway’s southern passage. IRGC officials […]
by Currency Hedger
- 0 Comments
- 2 weeks ago
Energies
US Natgas Prices Drop Further
US natural gas prices fell to $2.87/MMBtu on Monday, extending their retreat from a five-week high as traders weighed the prospect of increased supply. Energy Transfer LP’s Hugh Brinson Pipeline in Texas is set to begin service on September 1 and will eventually be able to transport about 2.2 Bcf/d of natural gas from the […]
by Currency Hedger
- 0 Comments
- 2 weeks ago