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☆ Japan to promote gas, LNG, hydrogen investments during G7 presidency - METI
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Feb 28 (Reuters) - Japan plans to emphasise the importance of investments in natural gas, liquefied natural gas as well as cleaner fuels such as hydrogen and ammonia during the country's presidency at the G7 summit later this year, a senior energy official said. Takeshi Soda, director, petroleum and natural gas division, Ministry of Economy, Trade and Industry (METI), told a conference on Tuesday that such investments would be central to solving potential future energy shocks. Reporting by Katya Golubkova and Yuka Obayashi; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ Crude prices rising above $100 in six months seems 'overzealous', says Rebecca Babin
▼ + stars: | 2023-02-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrude prices rising above $100 in six months seems 'overzealous', says Rebecca BabinRebecca Babin, CIBC Private Wealth senior energy trader and managing director, joins 'Squawk Box' to discuss Babin's six-month outlook for energy, why the oil market isn't already near $100 a barrel and Babin's outlook for refined products.

☆ U.S. gas producers skimped on price hedges and now face a reckoning
▼ + stars: | 2023-02-14 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +5 min

HOUSTON, Feb 14 (Reuters) - A rout in natural gas prices will hurt first-quarter earnings and cash flows at gas producers as hedges - the industry's version of price insurance - were inadequate to offset the expected losses, analysts and industry experts said. About 36% of 2023 gas production was hedged at the end of September, according to consultancy Energy Aspects, which tracked 40 publicly traded gas producers. EQT Corp (EQT.N), the top U.S. producer of natural gas, last month said it expects a $4.6 billion loss on derivatives for 2022, and net cash settlements of $5.9 billion. These transactions have a producer buy an agreement to sell natural gas at one price, called a put, while also selling a put at a lower price in hopes of pocketing the premium from its buyer. Were gas prices to average $2.36 per mmcf, the company would pay out 14 cents per mmcf, reducing the gains from the hedge.

☆ Natural Gas: Fasten Your Seat Belts
▼ + stars: | 2023-02-11 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

Last year, natural-gas prices were—by some measures—the most volatile since the U.S. shale boom began about a decade earlier. Despite the recent plunge in prices, it could be just a preview of coming attractions. Here is one way to quantify the wild swings: There were 18 days last year when the benchmark Henry Hub futures contract’s daily closing prices moved by more than 10%, the most since the Nymex natural-gas contract made its debut more than three decades ago, according to Eli Rubin , senior energy analyst at EBW Analytics Group. Historical volatility—measured as the standard deviation for the previous 20 days of daily changes in the Henry Hub—averaged 81.6% on an annualized percentage basis last year, well above the 10-year average of 48.6%.

☆ Elon Musk Meets With White House Officials, Congressional Republicans
▼ + stars: | 2023-01-28 | by ( Natalie Andrews | Alexa Corse | ) www.wsj.com time to read: 1 min

WASHINGTON—Elon Musk, the billionaire CEO of Tesla Inc. and Twitter Inc., met Friday with White House officials as well as top Republicans, amid deep interest on Capitol Hill in both electric-vehicle subsidies and social-media rules. Mr. Musk spoke Friday with John Podesta , a senior energy adviser to President Biden, and Mitch Landrieu, the White House’s infrastructure law coordinator to discuss electric vehicles, according to a White House official. The meeting was held at Tesla’s Washington, D.C., office.

☆ Babin: A lot of traders got sucked into the "Jedi mind trick" of being long crude in 2022
▼ + stars: | 2022-12-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBabin: A lot of traders got sucked into the "Jedi mind trick" of being long crude in 2022Rebecca Babin, senior energy trader at CIBC Private Wealth, discusses the wild ride oil prices went on in 2022, and where crude may head in 2023, with China, Russia and the U.S. SPR playing potential factors again next year.

☆ White House weighs future release of emergency heating, crude oil reserves as winter nears
▼ + stars: | 2022-11-30 | by ( Kayla Tausche | ) www.cnbc.com time to read: +3 min

An aerial of the Strategic Petroleum Reserve storage at the Bryan Mound site seen on October 19, 2022 in Freeport, Texas. The Biden administration is considering tapping additional reserves of heating and crude oil as winter nears and uncertainty over market prices worsens, according to four people familiar with the matter. But with a 54% jump in heating oil prices in the last year, any hiccup in supply could mean a headache for consumers. The White House could face additional pressure from a Republican-led House of Representatives to replenish the Strategic Petroleum Reserve when the new Congress begins its session in January. In June, the leading Republicans on the House Energy & Commerce Committee suggested the Strategic Petroleum Reserve's falling level was becoming a national security risk.

☆ Oil prices lower as outlook grows bearish. Traders fear weak China demand more than impact of Russian sanctions
▼ + stars: | 2022-11-21 | by ( Patti Domm | In | ) www.cnbc.com time to read: +4 min

Oil prices were volatile Monday as traders considered the possibility of weakening Chinese demand and a growing view that world could have sufficient supplies even with a European ban on Russian oil. The firm cited China's Covid restrictions and a lack of clarity on G-7 price caps on Russian crude for the new outlook. The European Union's ban on seaborne Russian oil starts Dec. 5. "Every fundamental signal in the crude market right now is bearish," she said. At least for now, the market expects there will be sufficient supplies even with Russian sanctions, Babin said.

☆ Ex-Obama advisor says global events are overshadowing climate change efforts: 'We are not acting swiftly enough'
▼ + stars: | 2022-11-08 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +1 min

COP27, which is being held in Sharm el-Sheikh, Egypt, is taking place at a time of significant global volatility. During her interview with CNBC, it was put to Hill that climate change often slipped down the pecking order compared to other global challenges and events. "Climate change has suffered from the problem that I learned in the White House," she said. "When I worked in the White House, [it] quickly became apparent that the urgent would overtake the important," she added. "Of course, climate change is now urgent."

☆ We are not acting swiftly enough on climate change, former Obama advisor says
▼ + stars: | 2022-11-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are not acting swiftly enough on climate change, former Obama advisor saysAlice Hill, senior energy fellow at the Council on Foreign Relations, discusses the outlook ahead of COP27 and the impact of geopolitical tensions on addressing climate change.

The market was supported by another decline in U.S. oil inventories as refineries picked up activity ahead of the winter heating season. The oil market held its rally even as stocks fell and the dollar rallied after Federal Reserve Chair Jerome Powell said it was premature to think about pausing rate increases. U.S. crude oil stocks fell about 3.1 million barrels on the week, according to federal data. Gasoline inventories while distillate stocks rose only marginally ahead of the key heating season, when demand is expected to pick up. The ban, a reaction to Russia's invasion of Ukraine, will be followed by a halt on oil product imports in February.

"That announcement was making it appear like he was throwing a bone to the oil industry," said Tricia Curtis, CEO of consultancy PetroNerds, who dismissed the offer. Register now for FREE unlimited access to Reuters.com Register"What if oil does not fall to that price: Do we just keep our reserves low?" U.S. oil prices hit $120 per barrel this year and did not trigger a production boom because of shortages and high costs for labor and equipment, said Hunter Kornfeind, oil market analyst at Rapidan Energy Group. Rebecca Babin, senior energy trader at CIBC Private Wealth, said tight oil supplies have pushed up price expectations into 2024. If the Biden administration wants to boost oil supplies, it "should change its policies around producing more oil and gas in the United States," said Frank Macchiarola, a senior vice president at trade group American Petroleum Institute.

Turkey Point sits on porous rock and underneath it is the Biscayne Aquifer – a primary source of drinking water. Nuclear plants have up to 60 years after they shut down to dispose of their nuclear waste. “FPL and the NRC regularly evaluate nuclear power plant operating conditions and physical infrastructure to ensure ongoing safe operations,” the company said. Electrical cables from Turkey Point Nuclear Power plant that power 1 million homes in South Florida. Alfonso Duran for NBC NewsNew homes under constructed near Turkey Point nuclear power plant in Miami in September.

☆ U.S. oil service firms' results to show impact of demand, inflation
▼ + stars: | 2022-10-18 | by ( Liz Hampton | ) www.reuters.com time to read: +3 min

Oct 18 (Reuters) - Oilfield service firms are poised to deliver the strongest third quarter results in years as demand for equipment and services has risen despite supply chain snags and higher costs from inflation, according to analyst forecasts. Oil prices remain near their highest levels in about eight years, spurring more producer demand for services. The international rig count rose to 879 last month, up from 787 a year ago, according to Baker Hughes. The Philadelphia Oil Service Index (.OSX) this summer hit its highest level since March 2020, trading around $90, but has dropped to about $68.50 on fears of a recession. The oilfield sector has faced capital constraints, "supply chain issues, workforce shortages and inflation impacts," said Leslie Beyer, CEO of the Energy Workforce & Technology Council, which represents oilfield service companies.

☆ Oil markets are facing a demand concern, says CIBC's Rebecca Babin
▼ + stars: | 2022-10-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOil markets are facing a demand concern, says CIBC's Rebecca BabinRob Thummel, Tortoise portfolio manager, and Rebecca Babin, CIBC Private Wealth senior energy trader, join CNBC's 'Squawk Box' to break down where investors can find opportunities in the energy sector.

Brent crude futures settled up $3.05, or 3.5%, at $89.32 per barrel. U.S. West Texas Intermediate (WTI) crude futures ended up $3.65, or 4.7%, to $82.15 a barrel. The dollar hit a fresh two-decade peak against a basket of currencies on Wednesday before pulling back. A strong dollar reduces demand for oil by making it more expensive for buyers using other currencies. "All raw material dominated currencies are up - crude is not just moving in isolation here."

☆ Crude oil bulls have 'lost their will to fight,' says CIBC senior energy trader
▼ + stars: | 2022-09-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCrude oil bulls have 'lost their will to fight,' says CIBC senior energy traderRebecca Babin, senior energy trader at CIBC Private Wealth U.S., joins CNBC's 'Squawk Box' to explain why she believes crude oil's break below $80 a barrel feels like the "stage of death" in a bullfight.

☆ Shorter showers, slower driving and an Eiffel Tower blackout: How Europe plans to cut gas usage this winter
▼ + stars: | 2022-09-21 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

"We're already there … savings this month have already surpassed the 15% target," said senior energy strategist from Goldman Sachs, Samantha Dart. Kenzo Tribouillard | Afp | Getty ImagesShe added that northwestern Europe's estimated August gas consumption was 13% below average. "We believe this is more than enough savings to go through winter without blackouts or a heating crisis," Dart said, assuming that the average winter weather scenario holds. "Achieving the 15% reduction target vs business as usual will be difficult, but not impossible," Gloystein told CNBC. A cold winter could make it difficult to achieve the demand reduction needed in Europe.

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