Daily Energy Report
Crude Oil Futures for January 2020 settled up $1.57 @ $58.58/bbl trading in a $2.07 range including the overnight-RBOB settled up 4.81/cpg and Heating Oil settled up 5.26/cpg.
President Vladimir Putin said on Wednesday that both Russia and OPEC have ‘a common goal’ of keeping the world oil market balanced and predictable and Moscow will continue cooperation under the global supply deal. “Our goal is for the market to be balanced, acceptable for producers and consumers and the most important – and I want to underline this – predictable,” he said in a forum on Wednesday. According to sources close to the talks, Russia is unlikely to agree to including Russia followed by talks with a group of other exporters, the in Vienna, 5OPEC meets on Dec. 5th in Vienna, followed by talks with a group of other exporters, including Russia.
Natural Gas Futures for December settled up $0.008 @ $2.567/mmbtu trading in a ./2.567$@ 0.008
In a joint effort between North Sea Port and Titan LNG, the first ship-to-ship LNG bunkering in the port of Ghent has been completed. Titan LNG delivered approximately 150 t of LNG to the Fure Valo, an LNG powered tanker-built in 2018 and owned by the Swedish company Furetank. Titan LNG officials said, “this LNG bunkering marks the expansion of LNG delivery in the ports of Europe. We are very pleased with the support of North Sea Port to fulfill our mission to make LNG available everywhere. We are proud to have safely and efficiently delivered this STS bunkering for the first time in Ghent.” The EIA reported a draw of -94.0 bcf for the week.