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I asked the chairman of the White House Council on Environmental Quality for the George W. Bush Administration whether Trump has done anything that will save the coal industry. "No," he said.
Natural gas prices whipsawed initially attempting to move higher, but unable to push through resistance levels. While demand was down in the latest weak which weighed on natural gas prices, colder than normal weather is moving east, which will drive up natural gas demand. Supply of natural gas is flat, and LNG exports eased in the latest week.Technicals
Dwindling Cushing inventories and a lower export volume from Canada have pushed up WTI prices, but the Brent benchmark fell as European refiners enter maintenance season
Investing.com - Crude oil prices were mixed on Tuesday, as reduced supplies from Canada boosted demand for U.S. oil futures, while the Brent contract remained lower although optimism over the rebalancing of the market persisted.
Sea levels will rise between 0.7 and 1.2 metres (27-47 inches) in the next two centuries even if governments end the fossil fuel era as promised under the Paris climate agreement, scientists said on Tuesday. Early action to cut greenhouse gas emissions would limit the long-term rise, driven by a thaw of ice from Greenland to Antarctica that will re-draw global coastlines, a German-led team wrote in the journal Nature Communications. Sea level rise is a threat to cities from Shanghai to London, to low-lying swathes of Florida or Bangladesh, and to entire nations such as the Maldives in the Indian Ocean or Kiribati in the Pacific.
Based on the early price action, the direction of the index today is likely to be determined by trader reaction to the 50% level at 2703.75.
Natural gas markets drifted a bit lower during the day on Monday, as we continue to see a lot of volatility in this commodity. I believe that we are trying to form some type of base here near the $2.65 level, and a bounce would make a lot of sense as we have been oversold.
Independent oil producers in Nigeria are ramping up production at a time that the Nigerian government has pledged to participate in the OPEC output cut deal
For the first time in Ukraine's history, U.S. anthracite is helping to keep the lights on and the heating going this winter following a deal that has also helped to warm Kiev's relations with President Donald Trump. On Trump's side it provided much-needed orders for a coal-producing region of the United States which was a vital constituency in his 2016 presidential election victory. On the Ukrainian side the deal helped to win favour with the White House, whose support Kiev needs in its conflict with Russia, as well as opening up a new source of coal at a time when its traditional supplies are disrupted.
Based on last week’s close at $61.55, the direction of the crude oil market this week will be determined by trader reaction to the short-term 50% level at $62.15.
Oil and gas producer Energean plans to raise $500m (£357m) with a listing on the London Stock Exchange as it looks to capitalise on increasing demand for energy supplies from the eastern Mediterranean. The firm plans to use $395m of the money raised to develop its offshore Israel Karish and Tanin gas fields and a further $10m would repay a bridge investment made by the company’s founders. The remaining $95m would be spent on fees, capital expenditure and other costs. Mathios Rigas, chief executive of Energean, said that the listing would help the firm to grow its pipeline of “attractive exploration projects". Energean's largest shareholders are its management team, who have a 30pc stake in the company, and US hedge fund Third Point, which has a 45pc holding. Mr Rigas said that the initial public offering funds would be used for growth, rather than to pay existing shareholders, despite their holdings being diluted by the float. Energean, which was founded in 2007, operates five projects in Greece, as well as others in Motenegro and Israel. The EU has been attempting to diversify its gas sources after supplies to European countries were disrupted amid tensions between Russia and Ukraine in 2014. It has a strategy to use more easily transported liquified natural gas as well as tapping Mediterranean supplies. Russian gas exports to EU countries - D The eastern Mediterranean region has become an increasingly active exploration and production region, with recent discoveries such as the Zohr gas field in Egypt and the Leviathan site in Israel attracting investment. In December, Italy, Cyprus, Greece and Israel agreed to back the construction of a 2,000km pipeline linking reserves in the Levantine Basin to the shores of Greece and Italy. "The drive to link the east Med with Europe will open up a huge market for east Med gas," said Mr Rigas. Chairman Simon Heale, who previously served as chair of copper miner Kaz Minerals, said that the eastern Mediterranean was attracting interest from oil and gas majors. Exxon Mobil, Total, Edison and Repsol have already acquired or expressed interest in acquiring hydrocarbon interests in Greek exploration areas. These would help Greece to reduce its reliance on Russia, which currently provides about 60pc of its oil supplies. While competition from the majors is a concern, Mr Rigas said he welcomed them "coming into this space because the majors have deep funding capabilities and they can fund major projects [for] infrastructure that is needed and will also open up routes for us". Energean is currently the only gas operator with a base in Greece and, while it faces competition from Noble Energy in Israel, the company already has contracts agreed to supply gas to the major Israeli power companies. Israel is attempting to move away from imported coal to domestic gas to meet its energy needs.
The USD/JPY has been rejecting the POC zone 106.16-30 and the price formed a V-shaped bottom. The recent USD recovery aims for 106.60 and if the price makes a 4h close above 106.60 we could see 107.20. At this point the pair is supported but for bulls to dominate 106.60 must be broken. A steep retracement trend line break suggest further up, but if the price breaks below 106.00, we could see bears dominating again and the price might turn down to 105.40 zone.
Investing.com - Crude oil prices were higher on Monday, supported by tensions in the Middle East and global supply cut efforts, although concerns over rising U.S. production lingered.
This week, investors could get some indications on the direction of inflation when the U.S. Federal Reserve releases its Federal Open Market Committee meeting minutes on Wednesday. A hawkish Fed could drive gold prices lower.
Australian Dollar traders will get a chance to react to the latest Monetary Policy Meeting Minutes from the Reserve Bank of Australia. New Zealand will release its latest data on retail sales.
All eyes are on China as traders guess whether or not the world’s second-largest importer of LNG will repeat last year’s import surge
This week, investors are likely to continue to monitor global stock markets, the U.S. Dollar and U.S. production figures. These three factors were largely responsible for last week’s price action. Activity is likely to be below average due to the Lunar New Year holiday.
Saudi Arabia’s oil production has remained relatively flat for nearly 13 months, though OPEC wildcard Iran continues to boost output despite production cut agreement
Gazprom’s Power Of Siberia pipeline is expected to be completed by the end of 2018, and the project could have a lasting impact on world energy markets