Gatik becomes major oil tanker operator (FT)
Maersk warns about container slowdown (FT)
Oil tankers forewarned of seizure risk (Reuters)
Iran retaliates by seizing second oil tanker (FT)
China customs inspects crude imports (Reuters)
Russia tries to replicate LNG tech (Bloomberg)
U.S./China to resume climate talks (Reuters)
Gas market to remain tight in 2023 (Reuters)
Haynesville shale gas production rises (EIA)
EUROPE’s gas futures prices continue to slide and the market is moving deeper into contango to stimulate more consumption and limit the build up of inventories this summer. Front-month futures prices have fallen to less than €37 per megawatt-hour from €77 at the start of the year and €170 near the start of the last winter heating season on October 3, 2022. The summer-winter calendar spread from July 2023 to January 2024 is now in a contango of more than €21 up from just €4 at the start of the year and a backwardation of €2 at the start of last winter:
U.S. DISTILLATE fuel oil inventories stood at just 110 million barrels on April 28. Stocks were -20 million barrels (-15% or –1.21 standard deviations) below the prior ten-year seasonal average and the deficit has widened from -12 million barrels (-9% or -0.73 standard deviations) on March 3:
JKempEnergy.com 