Day: February 16, 2022

Traders Turn To Oil And Commodities As Inflation Spikes

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After a torrid run, oil has barely managed to squeak out a second week of gains in a volatile session as risk-off sentiment spreads in broader markets. Predictably, the bears have started coming out of the woods, with Citigroup recently predicting an oil price crash to $65 this year. But luckily for the oil bulls, there’s no shortage of positive catalysts in this market. Stewart Glickman, energy equity analyst at CFRA Research in New York, says traders are now seeking refuge in commodities, including oil, as a hedge against inflation.…

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Threat of Russian Attack on Ukraine Looms Over Energy Markets – LNG Recap

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The growing threat of a Russian invasion of Ukraine had the energy market on edge Monday, when oil and natural gas prices again moved higher. The standoff has also upended metals markets, weighed on equities and is creating additional inflationary pressures. The U.S. warned Friday that an attack could be imminent, sending commodity prices up. German Chancellor Olaf Scholz was scheduled to speak with Russian President Vladimir Putin in Moscow on Tuesday in the latest diplomatic push to ease tensions. Spot liquefied natural gas (LNG)  prices in Asia followed European…

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Carrying the energy of the future

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Heinz-Jürgen Hiller, Business Development LNG at VTG Rail Europe, looks at LNG transportation by rail and the important role it could play in the future of the LNG industry. In April 2021, the European Parliament and the Council of the EU agreed on a new European climate law and substantially raised the EU’s greenhouse gas (GHG) reduction target for 2030. At the same time, GHG neutrality by 2050 – which is at the heart of the Green Deal – was for the first time anchored in law at an EU…

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Gas loss rates restored to pre-Aug 2020 levels

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The government has reinstated the rates of Unaccounted for Gas (UFG) losses on the distribution of RLNG (Regasified Liquid Natural Gas) to pre-August 2020 levels, which analysts said would help reduce buildup of circular debt in the days to come. According to Oil & Gas Regulatory Authority’s (OGRA) latest notified prices of RLNG for January and February 2022, the rates of UFG losses of gas companies i.e., Sui Northern Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) now stand at over 12 percent and 18 percent respectively. UFG rates…

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World oil price rise takes its toll on PSX

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A bloodbath session was witnessed on Pakistan Stock Exchange Monday as crude oil prices surged to a seven-year high in the international markets amid intensifying tensions between Ukraine and Russia Pakistan. The market opened on negative note and remained in red zone for most part of the day where selling pressure was seen in almost all sectors. The benchmark KSE-100 Index plunged by 435.28 points or 0.94 percent and closed at 45,644.09 points. During the session, the KSE-100 index hit 46,128.11 points intra-day high and 45,508.14 points intra-day low levels.…

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