Page 9 - Commodity Intelligence Services News Today

SINGAPORE (ICIS) --Spot LNG prices in Asia and gas prices in Europe remain high on tight supply. The ICIS TTF September ’22 contract price reached $61.02/MMBtu on 2 August, the second highest on record after 8 March.

LONDON (ICIS) -- Russia stepped up its curtailment of gas flows to Europe this week, in a move designed to be the dominating factor in the market. The impact was palpable as the ICIS TTF front-month gas price, the global benchmark, rose by 30% over the last seven days, with little indication of a significant fall back as long as current market conditions persist.

There is a good chance that Russian gas supplies will be severed in the coming weeks. Europe will pay a very high price if it seeks to buy off Vladimir Putin.

European gas prices remained high this week, supported by supply tightness due to low Norwegian flows caused by unplanned outages at the Sleipner field and Nyhamna plant, and maintenance work on Nord Stream 1 set to last until 21 July.

A fight is brewing over who gets first dibs on the plastic drinks bottles that consumers throw away.

The rising price of fertilizer is threatening rice production in many parts of Asia at a time when demand for rice is increasing. Rice harvests in Asia have been generally plentiful for the past [...]

The cost of key chemicals is skyrocketing as refiners prioritize gasoline production to meet rising demand

LONDON (ICIS) -- European gas supply uncertainty has continued to push the TTF benchmark to new highs, with the ICIS TTF August ’22 contract surging to the fourth highest level ever on 6 July.

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

Norway has intervened to end a strike by oil and gas workers, the country's government said in a statement late Tuesday, citing concerns about Europe's energy crisis amid Russia's war in Ukraine. Natural gas prices spiked after Norwegian oil and...