8/02: (6:30 am) WTI Pulls Back Below $94, Lowest Since April; Market Looks to OPEC+ Meeting Tomorrow

Prices of crude oil retreated on Monday, with fears of recession dampening the sense that energy demand is recovering.  Reports out yesterday showed weak manufacturing data from China, Japan and other countries.  WTI moved down by $4.73/bbl to settle at $93.89/bbl, the lowest close since April 11.  The market is looking to the next meeting of OPEC+, scheduled for tomorrow for a signal about what will happen next with crude supplies.  This morning WTI is off by about 70 cents/Bbl to the $93/bbl range.

8/1: Asia's LNG Demand Slipping as Europe Crisis Keeps Price Sky-High

Asia's LNG Demand Slipping as Europe Crisis Keeps Price Sky-High (Reuters)

The price of spot liquefied natural gas (LNG) in Asia climbed last week to the highest so far this year, but slipping demand in the top-consuming region shows the market is still being driven largely by Europe's Russian gas crisis.

The weekly spot price was assessed at $42.50 per million British thermal units (mmBtu) on July 29, exceeding the previous 2022 high of $40.50, reached on March 4 in the wake of Russia's Feb. 24 invasion of neighbouring Ukraine.

8/01: (6:30 am) WTI Pulls Back on Weak Asia Manufacturing Data; Market Looks to OPEC+ Meeting on Wednesday

Prices of crude oil retreated in early Monday trading, in part due to reports of weak manufacturing data from China and Japan. On Friday, the WTI September contract moved $2.20/bbl higher to settle at $98.62/bbl, but this morning WTI is off about $1.60/bbl to trade in the $97/bbl range.  The market is looking to the next meeting of OPEC+, scheduled for August 3rd for a signal about what will happen next with crude supplies.  Two months ago, the OPEC+ cap was increased by 648 Mb/d for July and August volumes.

7/29: Appalachia Outflows Recede as Northeast Balance Tightens

RBN Energy NATGAS Appalachia Report Key Highlights: