Pages

Friday, September 10, 2021

A Great Day Of Blogging But Delayed A Bit -- September 10, 2021

Bakken economy: Fargo

  • Amazon says first day of operations new warehouse in Fargo will be September 19, 2021

Energy:

Great article for the archives: Big Oil risks insolvency

WTI: up 2.22%; up $1.51; trading at $69.65

************************
Back to the Bakken 

Active rigs*: accurate data at COB.

$69.65
9/10/202109/10/202009/10/201909/10/201809/10/2017
Active Rigs26*12646655

No wells coming off confidential list according to NDIC

RBN Energy: global natural gas / LNG supply squeeze sets stage for record winter prices

Global natural gas and LNG prices have spent the summer going from high to higher to the highest on record. The major European indices hit post-2008, and then all-time highs multiple times throughout the summer — even surpassing Asian prices on a handful of days. At the same time, Asian prices have set all-time seasonal records and are now sitting just below the previous single-day high settle from this past January. Usually, as the weather cools heading into fall, so do prices, but that’s unlikely this year as the European gas storage inventory is at the lowest level for this time of year than we’ve seen in recent history, and the time to replenish stocks for the winter is rapidly running out. 
The incredible bull run for global gas prices has been underpinned by high demand for LNG and the cascading effect of a supply squeeze in Europe, brought on by the triple threat of low domestic production, decreased imports from Russia, and a scarcity of incremental LNG cargoes. Not only is this driving record-high gas prices and increased volatility now, but the low inventory means sustained high prices for the heating season ahead. In today’s blog, we take a look at recent global gas price trends and the precarious European storage situation ahead of what is shaping up to be an incredibly bullish winter.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.