oil prices at a four-year low; US oil supplies at a 37 week high; first March net natural gas storage injection on record

US oil prices fell to a four year low after Trump imposed a new round of steep tariffs on all our trading partners, leading to a ​sharp global market selloff….after rising 1.6% to $69.36 a barrel last week on an across the board withdrawal from oil and fuel inventories ​a​nd on Trump​'s threat​s​ of new tariffs on those who bought Venezuelan oil, the contract price for the benchmark US light sweet crude for May delivery inched up on global markets on Monday, as traders turned cautious after Trump threatened to impose secondary tariffs on buyers of Russian oil and warned Iran of possible military action if it did not agree to a deal over its nuclear program, then rallied sharply in New York after Trump suggested that the U.S. could​ impose further tariffs on buyers of Russian oil due to a lack of progress in ending the Ukraine war, and settled $2.12 or 3.1% higher at a five week high of $71.48 a barrel​, on worries that supplies would decline if Trump followed through on threats to impose more tariffs on Russia and to attack Iran…oil prices continued their upward momentum on global markets on Tuesday, as geopolitical tensions and potential supply disruptions took center stage, then inched down slightly on Tuesday morning in New York as OPEC+ began adding suppl​i​es amid U.S. threats of secondary tariffs on buyers of Russian and Iranian oil​,​ and persistent concerns about U.S. tariffs weakening economic growth, and settled 28 cents lower at $71.20 a barrel as traders awaited Trump's reciprocal tariffs announcement the next day​, hoping to assess its impact on fuel demand….oil prices edged higher in Asia on Wednesday as traders braced for new U.S. tariffs set to be announced at 2000 GMT, raising concerns over a potential escalation in global trade tensions and its impact on crude demand, then held steady near a five week high in early New York trading after the EIA reported the largest total crude inventory build since the last week of January, and settled the session 51 cents higher at $71.71 a barrel as the market braced for sweeping reciprocal tariffs from the US later on Wednesday afternoon, but fell to negative territory in post-settlement trading after Trump announced ​larger than expected reciprocal tariffs on trading partners, stoking concerns that a global trade war m​i​ght dampen demand for crude…oil prices tumbled more than 5% on Asian markets Thursday, as traders eyed weaker demand following Trump's sweeping tariffs, then added to those losses after OPEC+ announced plans to accelerate ​oil production increases starting in May, and settled the New York session down $4.76 at $66.95 a barrel, the largest ​single-day plunge since July 2022, after suffering a twin hit from Trump’s tariffs and an OPEC+ decision to increase output faster than previously announced…oil prices plunged nearly 8% in Asian trading on Friday, reaching their lowest levels since the pandemic-era slump ​in April of 2021, as China escalated its trade war with the United States by imposing its own sweeping new tariffs, heightening fears of a global economic slowdown, and triggering a broad selloff in financial markets and a sharp drop in crude demand expectations, then sunk 7% to a four-year low in New York trading on Friday, amid concerns economic fallout of President Trump’s wide-reaching tariffs could put a drag on demand, and settled the session $4.96 lower at $61.99 per barrel amid an escalating a trade war that led traders to believe a recession is near, leaving oil prices 10.6% lower for the week, the largest drop in two years…

meanwhile, natural gas prices finished lower for the third time in four weeks, as they also got swept up in the broad market selloff following Trump’s tariff announcement…after rising 3.4% to $4.065 per mmBTU last week on record flows to LNG plants and late forecasts for greater demand over the next two weeks than had been expected, the price of the benchmark natural gas contract for May delivery opened 15.1 cents higher on Monday, as near-term weather conditions and steady LNG demand provided support, but trended lower throughout the session to settle 5.4 cents higher at $4.119 per mmBTU, on record LNG flows and on cooler forecasts for the eastern US, which would boost demand for gas heating…natural gas prices started higher again on Tuesday, but again trended gradually lower through the session as forecasts called for mild temperatures, and settled down 16.8 cents at $3.951 per mmBTU, on weaker LNG exports due to pipeline maintenance, as milder weather forecasts brought soft shoulder season dynamics back into focus…natural gas prices rallied overnight and opened 6 cents higher on Wednesday, supported by a decline in production and uncertainty surrounding impending tariffs, and settled 10.4 cents, or 2.6% higher at $4.055 per mmBTU, on a drop in output over the prior few days, and on forecasts for higher than expected demand over the next two weeks… natural gas prices opened 7 cent higher on Thursday and rose to an intraday high of $4.201 by 9:45 AM, with tariff-related uncertainty and weather forecasts providing support, but gave back half of th​ose early gains to settle 8.3 cents higher at $4.138 per mmBTU, despite sweeping U.S. tariffs and a storage build that landed at the high end of expectations…natural gas prices steadied early Friday, as forecasts for mild spring weather were countered by ongoing export demand strength and flattish production to keep natural gas forward prices in check, but faltered midday as a stock market rout in the wake of the Trump administration’s tariff policies also cast a shadow over commodities, and natural gas prices settled 30.1 cents lower at $3.837 per mm BTU as near-term fundamentals showed slight signs of loosening and the market began to factor in uncertainties over the Trump administration’s tariff policies. and thus ended down 5.6% for the week..

The EIA’s natural gas storage report for the week ending March 28th indicated that the amount of working natural gas held in underground storage rose by 29 billion cubic feet to 1,773 billion cubic feet by the end of the week, the third unseasonal increase in a row, which still left our natural gas supplies 491 billion cubic feet, or 21.7% below the 2,264 billion cubic feet of gas that were in storage on March 28th of last year, and 80 billion cubic feet, or 4.3% less than the five-year average of 1,853 billion cubic feet of natural gas that had typically been in working storage as of the 28th of March over the most recent five years….the 29 billion cubic foot injection into US natural gas storage for the cited week was slightly higher than the average 25 billion cubic foot addition to storage that analysts in a Reuters' poll were expecting, and contrasts with the 37 billion cubic foot that was pulled out of natural gas storage during the corresponding week in March of 2024, and also the average 13 billion cubic foot withdrawal from natural gas storage that has been typical for the same late March week over the past five years…​with this week's 29 billion cubic foot injection into US natural gas storage, we finish March with more natural gas in storage than when the month started, which is the first time that has happened in the modern era...

The Latest US Oil Supply and Disposition Data from the EIA

US oil data from the US Energy Information Administration for the week ending March 28th indicated that after an increase in our oil imports and a sizeable decrease in our oil exports, we had surplus oil left to add to our stored crude supplies for the eighth time in ten weeks and the for the 16th time in thirty-nine weeks, as refinery demand was also lower...Our imports of crude oil rose by an average of 271,000 barrels per day to average 6,466,000 barrels per day, after rising by an average 810,000 barrels per day over the prior week, while our exports of crude oil fell by an average of 728,000 barrels per day to average 3,881,000 barrels per day, which, when used to offset our imports, meant that the net of our trade of oil worked out to a net import average of 2,585,000 barrels of oil per day during the week ending March 28th, an average of 999,000 more barrels per day than the net of our imports minus our exports during the prior week. At the same time, transfers to our oil supplies from Alaskan gas liquids, from natural gasoline, from condensate, and from unfinished oils averaged 588,000 barrels per day, while during the same week, production of crude from US wells was 6,000 barrels per day higher at 13,580,000 barrels per day. Hence, our daily supply of oil from the net of our international trade in oil, from transfers, and from domestic well production appears to have averaged a total of 16,753,000 barrels per day during the March 28th reporting week…

Meanwhile, US oil refineries reported they were processing an average of 15,558,000 barrels of crude per day during the week ending March 28th, an average of 192,000 fewer barrels per day than the amount of oil that our refineries reported they were processing during the prior week, while over the same period the EIA’s surveys indicated that an average of 921,000 barrels of oil per day were being added to the supplies of oil stored in the US… So, based on that reported & estimated data, the crude oil figures provided by the EIA appear to indicate that our total working supply of oil net imports, from transfers, and from oilfield production during the week ending March 28th averaged a rounded 273,000 barrels per day more than what what was added to storage plus our oil refineries reported they used during the week. To account for that difference between the apparent supply of oil and the apparent disposition of it, the EIA just plugged a [ -273,000 ] barrel per day figure onto line 16 of the weekly U.S. Petroleum Balance Sheet, in order to make the reported data for the supply of oil and for the consumption of it balance out, a fudge factor that they label in their footnotes as “unaccounted for crude oil”, thus indicating there must have been an error or omission of that magnitude in the week’s oil supply & demand figures that we have just transcribed….However, since most oil traders react to these weekly EIA reports as if they were gospel, and since these weekly figures therefore often drive oil pricing and hence decisions to drill or complete oil wells, we’ll continue to report this data just as it’s published, and just as it’s watched & believed to be reasonably reliable by most everyone in the industry…(for more on how this weekly oil data is gathered, and the possible reasons for that “unaccounted for” oil supply, see this EIA explainer….also see this old twitter thread from an EIA administrator addressing these ongoing weekly errors, and what they had once hoped to do about it)

This week’s rounded 921,000 barrel per day average increase in our overall crude oil inventories came as an average of 881,000 barrels per day were being added to our commercially available stocks of crude oil, while 41,000 barrels per day were being added to our Strategic Petroleum Reserve, the sixty-fifth SPR increase in the past seventy-five weeks, following nearly continuous SPR withdrawals over the 39 months prior to that… Further details from the weekly Petroleum Status Report (pdf) indicate that the 4 week average of our oil imports rose to 5,879,000 barrels per day last week, which was still 6.3% less than the 6,272,000 barrel per day average that we were importing over the same four-week period last year. This week’s crude oil production was reported to be 6,000 barrels per day higher at 13,580,000 barrels per day as the EIA’s estimate of the output from wells in the lower 48 states was 1,000 barrels per day higher at 13,138,000 barrels per day, while Alaska’s oil production was 5,000 barrels per day higher at 441,000 barrels per day.….US crude oil production had reached a pre-pandemic high of 13,100,000 barrels per day during the week ending March 13th 2020, so this week’s reported oil production figure was 3.7% higher than that of our pre-pandemic production peak, and was also 40.0% above the pandemic low of 9,700,000 barrels per day that US oil production had fallen to during the third week of February of 2021.

US oil refineries were operating at 86.0% of their capacity while processing those 15,558,000 barrels of crude per day during the week ending March 28th, down from their 87.0% utilization rate of a week earlier, and down from the 91.7% utilization rate of ten weeks earlier, initially reflecting the impact of January's below freezing weather on Gulf Coast refineries, and then the onset of US refinery’s usual Spring maintenance…. the 15,558,000 barrels of oil per day that were refined this week were 2.1% less than the 15,897,000 barrels of crude that were being processed daily during the week ending March 29th of 2024, and were 1.8% less than the 15,849,000 barrels that were being refined during the prepandemic week ending March 29th, 2019, when our refinery utilization rate was at 86.4%, also somewhat low for this time of year…

Even with the decrease in the amount of oil being refined this week, gasoline output from our refineries was somewhat higher, increasing by 62,000 barrels per day to 9,284,000 barrels per day during the week ending March 28th, after our refineries’ gasoline output had decreased by 401,000 barrels per day during the prior week.. This week’s gasoline production was 7.0% less than the 9,980,000 barrels of gasoline that were being produced daily over the week ending March 29th of last year, and was 5.4% less than the gasoline production of 9,813,000 barrels per day during the prepandemic week ending March 29th, 2019….at the same time, our refineries’ production of distillate fuels (diesel fuel and heat oil) increased by 164,000 barrels per day to 4,677,000 barrels per day, after our distillates output had decreased by 100,000 barrels per day during the prior week. With that production increase, our distillates output was 1.5% more than the 4,606,000 barrels of distillates that were being produced daily during the week ending March 29th of 2024, but was 4.0% less than the 4,870,000 barrels of distillates that were being produced daily during the pre-pandemic week ending March 29th, 2019…

Even with this week’s increase in our gasoline production, our supplies of gasoline in storage at the end of the week fell for the seventh time in eight weeks, decreasing by 1,551,000 barrels to 239,128,000 barrels during the week ending March 28th, after our gasoline inventories had decreased by 1,446,000 barrels during the prior week. Our gasoline supplies fell again this week even though the amount of gasoline supplied to US users fell by 148,000 barrels per day to 8,495,000 barrels per day, as our exports of gasoline rose by 188,000 barrels per day to 853,000 barrels per day, while our imports of gasoline rose by 159,000 barrels per day to 748,000 barrels per day.…Even after thirty-four gasoline inventory withdrawals over the past sixty-one weeks, our gasoline supplies were 4.3% higher than last March 29th’s gasoline inventories of 227,816,000 barrels, and were about 2% above the five year average of our gasoline supplies for this time of the year…

With the increase in this week’s distillates production, our supplies of distillate fuels rose for the tenth time in twenty-eight weeks, increasing by 264,000 barrels to 114,626,000 barrels during the week ending March 28th, after our distillates supplies had decreased by 421,000 barrels during the prior week.. Our distillates supplies increased this week even though the amount of distillates supplied to US markets, an indicator of domestic demand, rose by 43,000 to 3,679,000 barrels per day, and even though our exports of distillates rose by 52,000 barrels per day to 1,109,000 barrels per day, while our imports of distillates rose by 29,000 barrels per day to 149,000 barrels per day...But after 37 inventory withdrawals over the past 63 weeks, our distillates supplies at the end of the week were 1.2% below the 116,069,000 barrels of distillates that we had in storage on March 29th of 2024, and were about 6% below the five year average of our distillates inventories for this time of the year…

Finally, with the increase in our oil imports and the decrease in our oil exports, our commercial supplies of crude oil in storage rose for the 14th time in twenty-six weeks, and for the 25th time over the past year, increasing by 6,165,000 barrels over the week, from 433,627,000 barrels on March 21st to a 37 month high of 439,792,000 barrels on March 28th, after our commercial crude supplies had decreased by 3,341,000 barrels over the prior week… After that increase, our commercial crude oil inventories were still about 4% below the most recent five-year average of commercial oil supplies for this time of year, but were about 33% above the average of our available crude oil stocks as of the last weekend of March over the 5 years at the beginning of the past decade, with the big difference between those comparisons arising because it wasn’t until early 2015 that our oil inventories had first topped 400 million barrels. After our commercial crude oil inventories had jumped to record highs during the Covid lockdowns in the Spring of 2020, then jumped again after February 2021’s winter storm Uri froze off US Gulf Coast refining, but then fell sharply due to increased exports to Europe following the onset of the Ukraine war, only to jump again following the Christmas 2022 refinery freeze-offs, our commercial crude supplies have somewhat leveled off since, and as of this March 28th were 2.6% less than the 451,417,000 barrels of oil left in commercial storage on March 29th of 2024, and 6.4% less than the 469,952,000 barrels of oil that we had in storage on March 31st of 2023, but were 7.3% more than the 409,950,000 barrels of oil we had left in commercial storage on March 25th of 2022…

This Week’s Rig Count

The US rig count decreased by two during the week ending April 4th, as rigs targeting natural gas fell by seven nationally, despite the addition of two natural gas rigs in the Marcellus shale, while oil directed rigs were up by 5....for a quick snapshot of this week's rig count, we are again including below a screenshot of the rig count summary pdf from Baker Hughes…in the table below, the first column shows the active rig count as of April 4th, the second column shows the change in the number of working rigs between last week’s count (March 28th) and this week’s (April 4th) count, the third column shows last week’s March 28th active rig count, the 4th column shows the change between the number of rigs running on Friday and the number running on the Friday before the same weekend of a year ago, and the 5th column shows the number of rigs that were drilling at the end of that reporting period a year ago, which in this week’s case was the 5th of April, 2024…

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Encino Selected to Frack Under 62 Acres in Leesville Wildlife Area -- GREAT news! The Ohio Oil and Gas Land Management Commission (OGLMC) met for about 15 minutes on Friday and voted to award Encino Energy the right to drill under (not on) 62.5 acres of Leesville Wildlife Area located in Carroll County. Encino will pay a $218,715 signing bonus and 18% royalties on any oil and gas produced. Landowners in Carroll County, pay attention: That works out to be a hefty $3,500 per acre for a signing bonus.

Williams Subsidiary Unveils Plans for Gas-Fired Power Plant in Ohio - Marcellus Drilling News - Last week, MDN told you about three (so far) proposed Utica/Marcellus gas-fired power plants proposed for the New Albany International Business Park in Licking County, Ohio (seeMultiple Utica-Fired Power Plants Planned for New Albany, Ohio). In that post, we mentioned proposals are coming for two projects that are somehow connected to Williams—the Socrates North and South power plants. Little did we know then, but the company that aims to build those projects, Will-Power, is a subsidiary of Williams! Get it? Will (iams) Power…Will-Power. We now have much more information about the proposed Socrates North project, including details shared during an information session.

Oak Harbor residents asked to evacuate after gas line struck - - Residents who were told to evacuate their homes Thursday afternoon due to a gas leak are now cleared to return home, according to the Ottawa County EMA. According to a Facebook Post from the Ottawa County EMA, all residents are cleared to return home. The fire department, Columbia Gas and law enforcement will be monitoring the area. According to the post, if you would like your property monitored, you should inform one of those departments. State Route 19 from Portage River South to Mill Street in Oak Harbor is closed. A message from the Ohio Department of Transportation said a road closure on SR-19 south of Oak Harbor was scheduled to begin on Monday, April 7 for a known gas leak, but the situation escalated, prompting the emergency response. The agency said there will be a road closure for at least 10 days. The line that gave way was a high-pressure natural gas supply line for the village. Officials said about 129 households were evacuated as a result of the gas leak. According to the Oak Harbor Police Department, Columbia Gas employees will be going house to house to shut meters off and that could go as late as midnight. Employees will also continue Friday. Before gas is restores, employees will go back to every house and purge air out of the lines before the gas is restored. According to a Facebook post from the Oak Harbor Police Department, gas will most likely not be restored until at least Sunday. Toledo Edison previously had to cut off power to the village to make repairs to the gas line, but it has since been restored. Fred Petersen, the director of the Ottawa County EMA spoke to the media after 6:30 p.m. Thursday. He said the gas should be shut off soon and the fire department will be monitoring. “So, that gas should be shut off and isolated very soon. The fire department will verify with their gas monitors that things are safe to return for people. We’re hopeful that that happens this afternoon, this evening at this point and we won’t have to deal with any overnight evacuees,” Petersen said. Petersen said the line was scheduled to be repaired/replaced on April 7. But the leak has prompted crews to begin work sooner. According to Petersen, it could be repaired as soon as Saturday or Sunday. According to Petersen, crews were preparing to put a temporary line around the existing line and during preparation, the leak began. Authorities did contact the American Red Cross for housing people overnight if it becomes necessary. TC Energy released the following statement on the incident. “TC Energy responded to a natural gas release on our pipeline system near Oak Harbor, Ohio, reported at approximately 3 p.m. EDT on April 3, 2025. Upon learning of the incident, we immediately initiated our emergency management and response procedures. We coordinated with local authorities who evacuated the area. By 6:41 p.m. EDT, the incident was isolated, and repairs are ongoing. There are no reported injuries.

6th Circuit Upholds OH Landowner Claims Against Antero re Deductions - Marcellus Drilling News - An important decision was recently issued in a federal court case (in Ohio) that potentially affects landowners and drillers with shale leases throughout the Marcellus/Utica. At least, we believe it has broader implications. The case, The Grissoms, LLC v. Antero Resources Corporation, was decided by the United States Court of Appeals for the Sixth Circuit (6th Circuit) on April 2, 2025. The case involves a dispute between a certified class of 370 Ohio landowners and Antero. The landowners alleged that Antero underpaid them $10 million in natural gas royalties by improperly deducting certain processing and fractionation costs from their royalty payments, violating their lease agreements. In 2023, the landowners won against Antero in the U.S. District Court for the Southern District of Ohio, Eastern Division (see OH Fed Court Ruling Further Clarifies Post-Production Deductions). Antero appealed the case to the 6th Circuit. Now, the 6th Circuit has also ruled in favor of the landowners.

Largest Gas-Fired Power Plant in the U.S. Coming in Western Pa. This is VERY exciting news. The former Homer City Generating Station, previously the largest coal-fired power plant in Pennsylvania (Indiana County, 50 miles east of Pittsburgh), will be transformed into a more than 3,200-acre natural gas-powered data center campus, designed to meet the growing demand for artificial intelligence (AI) and high-performance computing (HPC). The new gas-fired plant will be THE LARGEST gas-fired power plant in the country, capable of producing up to 4.5 gigawatts (4,500 MW) of electricity. And yummy Marcellus gas will feed it! Put another way, it will use roughly 750 million cubic feet per day (MMcf/d) of Marcellus gas—some three-quarters of a Bcf every single day. Massive!

Largest natural gas power plant in the country, data center coming to former Homer City coal plant - The owners of a recently demolished coal-fired power plant announced the site will become a data center powered by the largest natural gas plant in the country. The Homer City Generating Station in Indiana County was decommissioned in 2023 and parts of it were imploded last month. It had been at one time the largest coal-fired power plant in Pennsylvania. The plant’s owners, Homer City Redevelopment, announced the site will become a 3,200-acre data center campus for artificial intelligence and other computing needs. “We always hoped something would be big here, but this is monumental. This is putting us on the map,” said Robin Gorman, vice president for government affairs for Homer City Redevelopment. Gorman said the campus will be powered by a 4.5 gigawatt natural gas power plant, more than twice the capacity as the former coal plant once generated. “Eventually the future vision is to create a business park and to attract data centers, [and] all kinds of information technology companies,” Gorman said. Local business and labor leaders lauded the project. Homer City Redevelopment says it will create 10,000 construction jobs in quote “the largest capital investment in the history of Pennsylvania.” “You’re talking about roughly 3,000 to 3,500 construction jobs initially just to build the power plant,” Gorman said. “Our hope right now, and it’s a low estimate, would be about 1,000 total direct and indirect permanent high paying jobs.” The site could begin generating power by 2027, the company said.

WhiteHawk Energy Doubles Marcellus Gas Royalties with $118 Million Deal — WhiteHawk Energy has closed a $118 million acquisition that doubles its mineral and royalty interests across 475,000 gross unit acres in Pennsylvania’s Marcellus Shale. The newly acquired assets, located in Washington and Greene counties, are 95% operated by leading natural gas producers EQT, Range Resources, and CNX Resources. The deal brings cash flow from over 1,400 producing wells and is effective as of Jan. 1, 2025. “The 2025 Marcellus Acquisition provides WhiteHawk additional production, line-of-site development, undeveloped inventory and cash flow from our core Appalachia position,” said WhiteHawk CEO Daniel C. Herz. “Today’s transaction marks our sixth acquisition over the last three years and the third acquisition of royalty interests on these assets, which have continuously outperformed our expectations and fully consolidates these positions into WhiteHawk.”WhiteHawk’s Marcellus Shale portfolio now covers 675,000 gross unit acres with production from about 2,068 horizontal shale wells. It also includes interests in 141 wells-in-progress, 66 permitted wells, and 1,713 undeveloped locations, along with potential from the underlying Utica Shale. The company also holds mineral and royalty interests in the Haynesville Shale, where it owns assets across 375,000 gross unit acres, with 1,371 producing horizontal wells, plus 127 wells-in-progress, 189 permitted wells, and 966 undeveloped locations. Haynesville operators include Expand Energy, Aethon Energy Management, and Comstock Resources.

WhiteHawk Energy secures mineral and royalty rights across a massive 475,000-acre footprint in the Marcellus Shale's prime region - - WhiteHawk Energy, LLC announced an acquisition that increased its interest in its existing Marcellus Shale minerals and royalties position.This $118 million transaction doubles the company’s present ownership interest in a portion of its Marcellus Shale royalties position (across 475,000 gross unit acres), primarily focused in Washington and Greene counties, Pennsylvania. The transaction has an effective date of January 1, 2025. The assets are 95% operated by best-in-class natural gas operators EQT, Range Resources, and CNX Resources and have continued to perform above expectations since WhiteHawk’s initial acquisition of this position in March 2022.“The 2025 Marcellus Acquisition provides WhiteHawk additional production, line-of-site development, undeveloped inventory and cash flow from our core Appalachia position. Today’s transaction marks our sixth acquisition over the last three years and the third acquisition of royalty interests on these assets, which have continuously outperformed our expectations and fully consolidates these positions into WhiteHawk,” stated Daniel C. Herz, CEO of WhiteHawk. “This Marcellus Shale acquisition is the ideal natural gas minerals position, combining best-in-class natural gas operators, proven and predictable production, and the lowest break-even drilling costs in the U.S.”WhiteHawk’s consolidated Marcellus Shale assets cover approximately 675,000 gross unit acres, with production from approximately 2,068 horizontal shale wells. Additionally, WhiteHawk owns mineral and royalty interests in 141 wells-in-progress, 66 permitted wells, and 1,713 undeveloped Marcellus locations, with additional potential from the underlying Utica Shale. Approximately 95% of the production, cash flow and present value associated with the Marcellus assets are operated by EQT, Range Resources, CNX Resources, and Antero Resources.WhiteHawk also owns natural gas mineral and royalty assets in the Haynesville Shale, covering approximately 375,000 gross unit acres and approximately 1,371 producing horizontal shale wells. Additionally, WhiteHawk owns mineral and royalty interests in 127 wells-in-progress, 189 permitted wells, and 966 undeveloped Haynesville locations. The company’s Haynesville Shale assets are actively being developed by Expand Energy, Aethon Energy Management and Comstock Resources.

EHB Denies EQT Motion to Exclude Medical Evidence in PFAS Case - Marcellus Drilling News - A Washington County, PA, man and his anti-fossil fuel lawyer won a victory with the Pennsylvania Environmental Hearing Board (EHB), a special court in PA set up to hear appeals of Department of Environmental Protection (DEP) decisions. The man, Bryan Latkanich, alleges Chevron used PFAS “forever chemicals” in fracking fluids in 2011-2012 when Chevron drilled two wells some 500 feet from his home. Latkanich claims his water well was damaged, as well as his health and the health of family members who drank the “contaminated” water. EQT now owns the wells.

Driller Wins Briggs v SWN Rule of Capture/Trespass Resurrected Case - In January 2020, the Pennsylvania Supreme Court ruled in THE most consequential lawsuit for Marcellus Shale drilling we’ve seen, a case called Briggs v Southwestern Energy (see HUGE NEWS: PA Supreme Court Keeps ‘Rule of Capture’ for Fracking). The PA Supreme Court ruled in favor of Southwestern, retaining the “rule of capture” in the Keystone State. In 2022, the Briggs family filed a new lawsuit, call it “Briggs 2,” along the same lines, alleging that Southwestern’s drilling and fracking on a neighboring property had intruded (“trespassed”) under the property line, draining gas from the Briggs property and injecting PFAS “forever chemicals” under their land (see Briggs v SWN Rule of Capture/Trespass Court Case Resurrected). The United States District Court for the Middle District of Pennsylvania recently ruled in favor of Southwestern (now Expand Energy) and against the landowner’s claims

PA Oil & Gas Weekly Compliance Dashboard - March 29 to April 4 - Failed To Restore 3MG Water Impoundment; Failed To Get Pipeline Permits; Nearly 7 Years Without Conventional Well Spill Cleanup --From March 29 to April 4, DEP’s Oil and Gas Compliance Database shows oil and gas inspectors filed 699 inspection entries. Follow these links to spreadsheets showing the violations and inspections occurring between March 29 to April 4--

• Click Here for violations issued.
• Click Here for inspection entries.

So far this year, DEP took these actions as of March 28--

• -- NOVs Issued In Last Week: 100 conventional, 28 unconventional
• -- Year To Date - NOVs Issued: 1,201 conventional and 323 unconventional
• -- Enforcements 2025: 114 conventional and 45 unconventional (orders, agreements)
• -- Inspections Last Week: 364 conventional and 417 unconventional
• -- Year To Date - Inspections: 4,898 conventional and 7,012 unconventional

On April 1, 2025, the Department of Environmental Protection inspected the Winner 6 shale gas well pad and 3 million gallon water impoundment in East Keating Township, Clinton County owned by Frontier Natural Resources and found the pad and impoundment had not been restored. DEP issued the original violations for failure to restore the well pad and the water impoundment on July 14, 2017. Read more here.Among the DEP Oil and Gas inspection reports this week was an April 3 inspection of the Buhl Farm 1 conventional oil well owned by Edward W. Benko in Economy Borough, Beaver County. For nearly seven years-- since July 18, 2018 when the spills were first discovered-- DEP has been trying to work with Benko to get the multiple spills at the site cleaned up. Read more here.DEP has a new initiative underway in 2025 to inspect conventional oil and gas wells that have never been inspected before to “ensure the safest oil and gas production possible.” The Pecan Explorations, Inc. and Larry A. Shaffer Jr. well inspections on State Game Lands are the first in this new series. - Violations: 6 Abandoned Conventional WellsMarch 7, 2025 inspections of 6 conventional wells on State Game Lands in Cranberry Township, Venango County found them abandoned and not plugged. DEP’s reports note “This report is part of a 2025 Department initiative to record the current status of never-inspected wells in Pennsylvania and ensure the safest oil and gas production possible.” The wells include-- State Game Lands 45M6, State Game Lands 45WJ3, State Game Lands 45WJ8, State Game Lands TRM9, SGL 45 George Myers Tract M8; State Game Lands 45M5. Violations issued for abandonment and failure to submit annual production, waste generation and well integrity reports. Response requested by April 15. Pencan holds 60 permits. Larry A. Shaffer Jr. - Violations: 3 Abandoned Conventional Wells March 7, 2025 inspections of three conventional wells on State Game Lands in Cranberry Township, Venango County found the wells abandoned and not plugged. DEP’s reports note “This report is part of a 2025 Department initiative to record the current status of never-inspected wells in Pennsylvania and ensure the safest oil and gas production possible.” The wells include-- SGL 45WJ4; SGL 45WJ5; and SGL 45WJ9. Violations issued for abandonment and failure to submit annual production, waste generation and well integrity reports. Response requested by April 30. Shaffer holds 3 permits. Ows Acquisition Co. LLC - Violations: 2 Abandoned Conventional WellsOn April 1, 2025 DEP inspected the R&F Thompson 3 and R&F Thompson 4 conventional gas wells in Springfield Township, Mercer County in response to a complaint and found #4 was abandoned and not plugged and #3 has a rapid, steady, bubbling gas leak.For well #4 - violations were issued for well abandonment, failure to submit annual production, waste generation and well integrity reports. DEP inspection report.For well #3- a violation was continued from April 19, 2021 for failing to submit a well integrity report. No violations were issued for leaking gas. The owner made arrangements to have the leak repaired. DEP inspection report. Fortress Energy Corp. - Violations: Well Plugging Erosion Violations, No Waste Disposal PlanMarch 31, 2025 inspection of the Sara Gorley 963 conventional well plugging site and access road in Luzerne Township, Fayette County found significant erosion and sedimentation violations and failure to comply with permit requirements. DEP also requested a Waste Control and Disposal Plan for the site. Violations issued. Response requested by April 9. DEP inspection report. Fortress Energy holds 23 permits.

19 New Shale Well Permits Issued for PA-OH-WV Mar 24 – 30 - Marcellus Drilling News - For the week of Mar 24 – 30, the number of permits issued in the Marcellus/Utica to drill new shale wells dropped by three from the previous week. Last week, 19 new permits were issued, with 15 going to the Keystone State (PA). Seneca Resources received the lion’s share, 13 of the 15 permits, all in Tioga County spread across three different pads. One permit was issued to EQT (Rice Drilling) in Greene County, and one was issued to Campbell Oil & Gas in Westmoreland County. ASCENT RESOURCES | BELMONT COUNTY | CAMPBELL OIL & GAS | EQT CORP | GREENE COUNTY (PA) | HARRISON COUNTY | SENECA RESOURCES | TIOGA COUNTY (PA) | WESTMORELAND COUNTY

Texas Gas Gauging Support to Move More Appalachian Natural Gas to Midwest, Gulf Coast Markets- Boardwalk Pipelines LP is testing support for a 2 Bcf/d pipeline that would transport natural gas from Appalachia’s prolific fields to supply growing consumption from electric utilities, data centers and LNG exporters. Map showing the proposed Borealis natgas pipeline in the U.S. northeast. If enough support is warranted, the Borealis Project, led by subsidiary Texas Gas Transmission LLC, would enhance the company’s existing 5,975-mile natural gas pipeline system. Borealis as designed would connect Marcellus and Utica shale gas from the Midwest to the Gulf Coast, according to Texas Gas.

Boardwalk Project to Grow Southern Access for Appalachian NatGas -Boardwalk Pipeline’s proposed Borealis Project could add 2 Bcf/d of natural gas to a network stretching from Ohio to Louisiana, providing plays in the Appalachian Basin with an expanded egress pathway.On April 1, the midstream company called a non-binding open season on a proposed capacity expansion on the company’s 5,975-mile Texas Gas Transmission pipeline network. Texas Gas Transmission is a Boardwalk subsidiary.The network provides Boardwalk near-access in Ohio to the Utica and Marcellus shales, then travels on the western side of the Appalachia region.Building a pipeline on the eastern side of the Appalachians has been a challenging task over the past decade, despite the area boasting some of the largest natural gas reserves in the Lower 48. EQT’s Mountain Valley Pipeline was completed in 2024, only after the U.S. Congress voted to close the multiple legal challenges that had stalled progress on the line.In a February interview with Hart Energy, Boardwalk CEO Scott Hallam indicated the company’s interest in further developing the network on the other side of the Appalachian Mountain range. “Today, the Marcellus production profile is capped because it doesn't have takeaway capacity. Boardwalk is studying that issue and evaluating how we can help the Marcellus continue to grow through creating new and different takeaway options that don't exist today,” Hallam said.The states along the Texas Gas network are generally more friendly to midstream development, the CEO said.“It's a geography that is more inclined to see the economic benefit of natural gas, versus the other negative views that other parts of the country associate with natural gas.”According to Boardwalk’s release on April 1, the Borealis Project also has the advantage of being minimally invasive and efficient, as construction will happen along the network’s current pathway. East Daley analyst Alex Gafford said Appalachia producers would likely welcome the project’s additional takeaway capacity.“The key is to keep state-level permitting to a minimum in order to prevent an MVP 2.0,” Gafford said in an email to Hart Energy.The project also enhances the prospects for midstream companies in the area that operate gathering and processing in the basin, such asWilliams Cos., DT Midstream, MPLX and Antero Midstream.Gafford also noted that the Borealis became public three months after Boardwalk announced the Kosci Junction project, which adds capacity to the company’s facilities in Mississippi. “The quick succession of project announcements speaks to the strong strategic position of the BWPL asset footprint,” Gafford said. The company’s Borealis announcement did not give many details other than noting that about 2 Bcf/d of capacity would be added to the pipeline. The project will serve all types of customers along the network, including energy providers, data centers and LNG exporters. The midstream company will also consider proposals to extend the pipeline about 180 miles to the east for a direct connection to the Utica and Marcellus, according to the press release.

EQT CEO says more gas pipelines are coming to West Virginia - EQT chief Toby Rice took part in a presentation by natural gas industry leaders at the West Virginia’s state Capitol last week, briefly joined by Gov. Patrick Morrisey. Morrisey wants to expand microgrids in the state to power data centers and is pushing the legislature to enact House Bill 2014 to do that. It was one of the priorities he laid out in his first State of the State address. Rice said that would mean building more pipelines.“So we’ve got to get serious about this, and these data center opportunities in our state are they’re the reasons for us to get started and start building back and capturing some of the lost time that we had,” he said.Rice was referring to the eight years and $10 billion it took to complete the Mountain Valley Pipeline, which entered service last summer and now transports 2 billion cubic feet of gas a day from north-central West Virginia to southern Virginia.Lawsuits and protests slowed the pipeline’s construction. But a push from Sens. Joe Manchin and Shelley Moore Capito got it over the finish line.Pittsburgh-based EQT now owns the pipeline, and Rice said more are needed not just for data centers, but for gas-burning power plants to replace aging coal units.“These power plants are not brand new pieces of equipment when you look and you realize that the reliable power generators that are on our grid, average life is close to 30 years old,” he said. “We got to turn these things over, get back to building things.”Gas has largely displaced coal generation in the past 10 to 15 years because of hydraulic fracturing, or fracking, a gas production technique Rice’s company developed with great success.Now, though, Rice said the mantra has gone from “drill, baby, drill,” to “build, baby build.”“Absolutely,” he said. “I think it’s inevitable.”

Federal regulators green-light Tennessee gas pipeline - Federal regulators approved a new natural gas pipeline Wednesday that will feed a planned natural gas-fired power plant in eastern Tennessee.In a 45-page order, the Federal Energy Regulatory Commission gave a green light to the Ridgeline expansion project, a 30-inch-diameter pipeline proposed by Enbridge as an add-on to its East Tennessee Natural Gas system. The $1.1 billion project comprises around 122 miles of pipe and a new compressor station, among other components.“We find on balance that the record before us supports a determination that the benefits of the proposed Ridgeline Expansion Project outweigh its adverse effects,” the order said. The pipeline is critical to plans by the Tennessee Valley Authority — the country’s largest public utility — to build a 1,500-megawatt natural gas combined cycle power plant near Kingston, roughly 40 miles west of Knoxville. TVA has entered into an agreement with East Tennessee “for 100% of the project’s capacity,” FERC said in its order Wednesday.

A Pipeline of Problems – SACE - Southern Alliance for Clean Energy - Oil and gas pipelines are everywhere and nowhere. They hide in plain sight, buried and marked above ground only by a mown right-of-way and the periodic yellow post or mile marker. Because they are not highly visible like transmission lines or power plants, they typically aren’t given much thought — unless a pipeline easement touches your own property. Pipeline accidents — leaks, spills, and explosions — hold attention for a few news cycles and then fade away. The claims by pipeline operators are usually along the lines of “this was a rare event, and we have safeguards to keep it from happening again.” But according to a FracTrackeranalysis of oil and gas pipeline incidents reported between 2010 and 2023, a fire erupts every 4.2 days, an explosion occurs every 12.2 days, a person is killed in one of these incidents every 29 days, and an injury is reported every 6.5 days. During this time period, there were 2,955 incidents reported just along methane gas gathering, transmission, and distribution lines, resulting in 149 fatalities and 697 injuries.So, these events truly are not so rare after all. Yet, we continue to add more and more miles of dangerous new pipelines every year.Below is an overview of a few of the new and proposed pipeline projects in North Carolina, Tennessee, and South Carolina. SACE’s new paper “A Pipeline of Problems” goes deeper into the topics of pipeline risk classifications, proximity to homes and daycares, pipeline construction failures, pipeline exposure above ground, geologic risk such as earthquakes and landslides, and the impact climate change is having on East Coast rain events and pipeline safety. All of these issues lead us to the question: Why are we still building pipelines?

Bookended by Transco and Northwest, Opportunities Powering Up for Data Centers, Says Williams Exec - Tulsa-based Williams is working to stay 10 steps ahead of the competition by aligning its natural gas infrastructure with low-carbon options, both to improve efficiencies and to gain an advantage with new customers, including data center hyperscalers and overseas markets. Williams natural gas pipeline footprint in the United States. (map) To delve into what’s next, Williams executive Jaclyn Presnal, vice president of New Energy Ventures, sat down with NGI at the recent CERAWeek conference by S&P Global. The 20-year Williams veteran took over the New Energy Ventures business about a year ago. New Energy Ventures basically hunts for commercial opportunities across Williams’ footprint in two business units, NextGen Gas and Power Innovation. NextGen provides lower-carbon products, including differentiated gas. The power unit delivers turnkey generation solutions, including for data centers.

Tokyo Gas Affiliate Expanding Haynesville Natural Gas Footprint as Chevron Pares Portfolio -- TG Natural Resources LLC (TGNR), majority owned by Tokyo Gas Co. Ltd., is snapping up most of Chevron Corp.’s natural gas-heavy portfolio in East Texas, a deal likely to increase its production, now estimated at 1 Bcfe/d. None The $525 million transaction provides a 70% stake in the Chevron U.S.A. asset, including 71,000 net acres in Panola County. Chevron agreed to receive $75 million cash upfront with another $450 million paid as a capital carry to fund more Haynesville Shale development. Chevron, which has been marketing the asset for about a year, is retaining a 30% nonoperated working interest in a joint venture with TGNR. It also would hold an overriding royalty stake in the assets.

Uncertainty Clouds U.S. LNG FID Outlook as Trade War Expands, Other Challenges Persist -Fast action by the Trump administration to clear regulatory roadblocks for U.S. LNG projects has brought final investment decisions (FID) closer for some, but other aspects of the president’s agenda combined with typical hurdles are creating uncertainty and clouding the outlook for more development. In less than three months since taking office, the Trump administration has lifted former President Biden’s pause on new authorizations for exports to non-free trade agreement countries (NFTA) and granted licenses to the Commonwealth LNG and CP2 LNG projects. It has also extended deadlines for the Golden Pass and Delfin LNG projects to start exporting the super-chilled fuel and ended a restrictive policy requiring developers to meet stringent criteria before being granted similar extensions. “The relaxation of the Biden administration’s pause on new NFTA export permits and expected ease on constraints for extensions provide a more positive outlook” for the sector, said Wood Mackenzie analyst Mark Bononi.

Natural Gas, Oil Generally Excluded from Trump Tariffs, but Retaliation (on LNG?) Concerns Rattle Markets -President Trump has announced higher-than-expected tariffs starting at 10% on more than 100 nations, but Mexico and Canada, along with oil and natural gas, were given lighter treatment. Natural Gas Intelligence's (NGI) Canada Border Tracker displaying a map and key natural gas hubs with prices. Depicts flow data key for market analyses. Dubbed ‘Liberation Day,’ the president called Wednesday “the day American industry was reborn.” He promised that “jobs and factories will come roaring back” as a result of the newly imposed tariffs. Tudor, Pickering, Holt & Co. analyst Matt Portillo said “our high level takeaway for the energy complex is that this is negative for crude oil given the adverse impact tariffs could have on Chinese demand.” For natural gas, “products like U.S. LNG may be the target for reciprocal tariffs.”

Sempra Eyeing Sale of Mexico Natural Gas Assets, LNG Subsidiary Stake to Bolster U.S. Utilities -- San Diego-based Sempra is selling its Mexico natural gas distribution assets as well as a share of its LNG infrastructure subsidiary, Sempra Infrastructure Partners. The move is part of an “ongoing commitment to simplify the company's portfolio and recycle capital in support of strong growth in its Texas and California utilities,” management said. Sempra has previously said that it would heavily invest in its core distribution and utilities amid expected booming power demand. Earlier this year, Sempra raised the guidance for its five-year capital plan by 16% to $56 billion between 2025 and 2029. More than $29 billion of that capital is expected to be put toward its Texas utility’s operations during that period.

Calcasieu Pass LNG Given Green Light as Venture Global Prepares to Fulfill Contracts -Venture Global LNG Inc. can meet its April 15 target to deliver Calcasieu Pass LNG cargoes to long-term contract holders after receiving final FERC authorization on Thursday. The Federal Energy Regulatory Commission granted Venture’s request to place the remaining equipment at the Louisiana facility online after more than three years of repairs. The plant has been producing commissioning cargoes since 2022, but Venture has cited problems with equipment, chiefly its heat steam recovery generators (HSRG), as preventing it from shipping cargoes to contract holders. Those delays have drawn public criticism and arbitration cases from nine long-term contract holders.

Houston Ship Channel Gaining Significance as ‘De Facto’ Mexico Export Point -- As the discount to Henry Hub continues to shrink at Houston Ship Channel (HSC), the natural gas price index remains key to Mexico trades as North American LNG exports grow. Natural Gas Intelligence's (NGI) spot Houston Ship Channel daily natural gas price graph and flows South of Texas into Mexico showing historical market volatility. In 2022, the differential between Henry Hub and HSC ballooned after the Freeport LNG export terminal south of Houston shut down, leading to an excess of supply in the area. Henry Hub in Louisiana, the official delivery point for futures contracts on the New York Mercantile Exchange, was trading at around $4.045/MMBtu on Wednesday afternoon, basically where it had been for the past month, according to NGI’s MidDay Price Alert data. HSC in Texas was about 50.0 cents lower at $3.575.

Trump Administration Fully Reverses Policy on LNG Export Project Extensions -- The U.S. Department of Energy (DOE) has rescinded a Biden-era policy on LNG export authorizations in an effort to further accelerate permitting. DOE officials Tuesday disclosed in a Federal Register filing that the agency would no longer enforce a 2023 policy statement that prevented most worldwide export permits from being extended beyond their seven-year time frame. “Henceforth, DOE will consider applications to extend an authorization holder’s export commencement deadline and grant such extensions for good cause shown on a case-by-case basis, an approach consistent with DOE’s practice prior to the issuance of the policy statement,” agency staff wrote in the filing.

New LNG Export Startups Affect EIA NatGas Forecasting Models -- Marcellus Drilling News -- According to the U.S. Energy Information Administration (EIA), U.S. exports of liquefied natural gas (LNG) represent the largest source of natural gas demand growth this year. LNG gross exports are expected to increase by 19% to 14.2 billion cubic feet per day (Bcf/d) in 2025 and by 15% to 16.4 Bcf/d in 2026. The start-up timing of two new LNG export facilities—Plaquemines LNG Phase 2 (consisting of 18 midscale trains) and Golden Pass LNG—could significantly affect EIA’s forecasting because these facilities represent 19% of incremental U.S. LNG export capacity in 2025–26

U.S. LNG Exports Reach New Monthly High as More Capacity Comes Online — A look at the global natural gas and LNG markets by the numbers

• 9.09 Mt: U.S. LNG exports reached a new monthly high in March, propelled by commissioning cargoes from Cheniere Energy Inc.’s Corpus Christi LNG Stage 3 expansion and Venture Global LNG Inc.’s Plaquemines LNG. In total, U.S. exports reached 9.09 million tons (Mt) during the month, 1.75 Mt more than March 2024, according to preliminary Kpler data.
• 1.03 Mt: Monthly U.S. LNG export data also showed cargoes from Plaquemines LNG nearly doubled in March compared to February as the facility continued to ramp up. Around 1.03 Mt left the facility during the month versus 0.67 Mt in February. All but one cargo was sold on the spot market to European buyers. One cargo was resold by Mitsubishi Corp. to Egypt’s state-owned energy firm and delivered to the Ain Sokhna terminal, according to Kpler data.
• 14.4 Bcf/d: LNG feed gas demand trended lower this week, with nominations dropping to 14.4 Bcf/d on Wednesday, according to Wood Mackenzie. Retreating nominations were partially attributed to maintenance at Corpus Christi LNG. The pipeline intake point for Corpus Christi LNG was 58% utilized on Wednesday, according to afternoon nomination cycle data.
• 63 Bcm: The Europe Union (EU) would have to inject 63 Bcm of natural gas into storage facilities across the bloc in order to meet the 90% threshold by Nov. 1, according to the latest estimate from Jefferies Group LLC. Gas storage levels were reported as 34% full at the end of March, about 42% lower than the same period last year.
• $25.439/MMBtu: Filling EU storage to 90% would require importers to bring in 25 Mt more LNG than the bloc imported between April-October of last year, according to Bank of America. Some member countries are lobbying for the European Commission to reduce the storage requirements for their countries to 80% to avoid price spikes. Bank of America researchers estimated a 90% fill would drive Title Transfer Facility prices to a range of $19.079-25.439/MMBtu in the second half of 2025.

U.S. LNG Demand Bolsters Domestic Prices as International Buyers React to Supply Tensions — International natural gas markets are holding level as traders weigh the risks for next winter’s storage filling session, but demand for U.S. LNG continues to push Henry Hub upward. Chart and map of Lower 48 LNG export facilities tracking daily natural gas feedstock flows to sites for market intelligence. The Dutch Title Transfer Facility (TTF) contract for May mostly declined in Monday morning trading before rising back to the high $12/MMBtu range at close. The June and July contracts also stagnated, with most upward activity concentrated on the August through October delivery periods. East Asian LNG prices saw a similarly cool trading day, with the prompt price staying slightly above TTF.

Is North American LNG on Cusp of New Construction Boom? — Listen Now to NGI’s Hub & Flow --Click here to listen to the latest episode of NGI’s Hub & Flow. NGI’s Christopher Lenton, managing editor of Mexico, speaks to Sergio Chapa, senior energy analyst at Poten & Partners, on the latest trends in North American LNG and natural gas markets.

Court Rejects Activists' Protest of Woodside LNG Pipeline Project - -A federal appeals court denied a protest brought against the government’s approval of a project meant to supply natural gas toWoodside Energy’s Louisiana LNG export facility.The Federal Energy Regulatory Commission (FERC) performed the required work for the project, the court said in ruling against the claims an environmental impact study was insufficient.The case goes back to April 2023, before Australian-based Woodside bought the project from Tellurian.Last spring, the FERC permitted Tellurian’s Driftwood Pipeline company to build and operate lines 200 and 300—two 30-mile parallel natural gas pipelines. The project was to expand Driftwood LNG’s connections with pipeline networks in southwestern Louisiana.Environmental groups Healthy Gulf and Sierra Club filed a protest against the pipelines with the Court of Appeals, D.C. Circuit, which typically hears cases that involve the FERC.A three-judge panel heard arguments in September 2024.Woodside acquired Tellurian for $900 million in October 2024 and renamed the Driftwood project to Louisiana LNG. In February, the company was exploring partnerships for the project, according to a Reuters report. The project remains under development. A Woodside spokesman said the company "welcomes the decision of the D.C. circuit court," in an email to Hart Energy. The company is targeting the project to be ready for a final investment decision before the second half of 2025. Lines 200 and 300 would connect Louisiana LNG to existing pipeline networks north of Lake Charles. The two lines would work in tandem with the proposed Driftwood Mainline project, the primary line of supply for the export facility.As in several previous cases, the environmental groups claimed the FERC did not take into account the market demand for the project and the total impact an LNG facility would have on upstream and downstream greenhouse-gas emissions.The court ruled the FERC fulfilled its obligations according to the law.“‘Our role is not to flyspeck an agency’s environmental analysis’” but instead to “‘ensure that the agency has adequately considered and disclosed the environmental impact of its actions,’” Circuit Judge Bradley Garcia wrote, referring to the current judicial standard.

US LNG Exports Hit New Monthly High in March, Smashing Old Record - Marcellus Drilling News - Another record bites the dust. According to data from LSEG, the U.S. exported a record high amount of liquefied natural gas (LNG) in March, selling 9.3 million metric tons (MT). The previous record was 8.6 MT in December 2023. March’s record “smashed” the old record, and there’s no sign that the higher volumes will retreat. There’s no going back!

US natgas prices fell 4% on record output, mild weather forecasts — Gas futures for May delivery on the New York Mercantile Exchange fell 16.8 cents, or 4.1%, to settle at $3.951 per million British thermal units (mmBtu). Energy traders said mild weather and low demand likely allowed utilities to add gas to storage in March for the first time since 2012 and only the second time in history. But gas stockpiles were still about 5% below normal levels for this time of year after extremely cold weather in January and February forced energy firms to pull large amounts of gas out of storage, including record amounts in January. In the spot market, gas prices at the Waha Hub in the Permian shale in West Texas turned negative for the third time this year as pipeline maintenance trapped gas associated with oil production in the basin. In the past, pipeline constraints also caused next-day Waha prices to turn negative a record 49 times in 2024, once in 2023, six times in 2020 and 17 times in 2019. With Permian oil production hitting record highs every year since at least 2016, according to data from the U.S. Energy Information Administration and the Federal Reserve Bank of Dallas, energy firms have had a hard time building gas pipes fast enough to keep up with soaring associated gas output. Permian gas production has also hit record highs every year since at least 2018. Financial firm LSEG said average gas output in the Lower 48 U.S. states rose to a record 106.1 billion cubic feet per day (bcfd) in March, up from the prior all-time high of 105.1 bcfd in February. Meteorologists projected temperatures in the Lower 48 states would remain mostly warmer than normal through April 16. LSEG forecast average gas demand in the Lower 48, including exports, will rise from 102.9 bcfd this week to 105.0 bcfd next week. The forecast for next week was lower than LSEG's outlook on Monday. The average amount of gas flowing to the eight big operating U.S. LNG export plants rose to a record 15.8 bcfd in March, up from the prior all-time high of 15.6 bcfd in February, as new units at Venture Global's V VG 3.2-bcfd Plaquemines LNG plant under construction in Louisiana entered service. The U.S. became the world's biggest LNG supplier in 2023, surpassing Australia and Qatar, as surging global prices fed demand for more exports due in part to supply disruptions and sanctions linked to Russia's 2022 invasion of Ukraine. Gas traded around $13 per mmBtu at both the Dutch Title Transfer Facility benchmark in Europe and the Japan Korea Marker (JKM) (JKMc1) benchmark in Asia.

US natgas prices climb 2% to two-week high on lower output, higher demand forecasts — U.S. natural gas futures climbed about 2% to a two-week high on Thursday on a drop in output over the last few days and forecasts for more demand over the next two weeks than previously expected. The gas price increased despite a roughly 7% drop in oil futures on worries U.S. President Donald Trump's tariffs could reduce global economic growth and oil demand, while the Organization of the Petroleum Exporting Countries (OPEC) and their allies including Russia, a group known as OPEC+, plan to keep increasing world oil supplies. Gas futures for May delivery on the New York Mercantile Exchange rose 8.3 cents, or 2.0%, to $4.138 per million British thermal units, their highest close since March 19. Gas prices also increased despite a bigger-than-expected storage build last week when mild weather kept heating demand low. The U.S. Energy Information Administration (EIA) said energy firms added 29 billion cubic feet of gas into storage during the week ended March 28. That was slightly bigger than the 25-bcf build analysts forecast in a Reuters poll and compares with a decrease of 37 bcf during the same week last year and a five-year average draw of 13 bcf for this time of year. Energy traders said mild weather and low demand last month likely allowed utilities to add gas to storage in March for the first time since 2012 and only the second time in history. Gas stockpiles, however, were still about 4% below normal levels for this time of year after cold weather in January and February forced energy firms to pull large amounts of gas out of storage, including record amounts in January. Financial firm LSEG said average gas output in the Lower 48 U.S. states fell to 105.1 billion cubic feet per day so far in April, down from a record 106.2 bcfd in March. On a daily basis, output was on track to drop by about 2.4 bcfd over the last four days to a preliminary five-week low of 104.6 bcfd on Thursday. Analysts noted preliminary data is often revised later in the day. Meteorologists projected temperatures in the Lower 48 states would remain mostly near normal through April 18. LSEG forecast average gas demand in the Lower 48, including exports, will rise from 103.7 bcfd this week to 106.4 bcfd next week. Those forecasts were higher than LSEG's outlook on Wednesday. The average amount of gas flowing to the eight big operating U.S. LNG export plants fell to 15.4 bcfd so far in April, down from a record 15.8 bcfd in March.

U.S. Natural Gas Prices Drop 6% as WTI Oil Craters by Nearly 9% - U.S. natural gas prices fell by 6% on Friday morning amid the overall panic market selling, but the benchmark Henry Hub price was declining less than the WTI Crude prices, which sank by more than 8% to hit a low of $61 per barrel. The benchmark price for U.S. natural gas delivered at Henry Hub was plunging by 6.26% to $3.877 per million British thermal units (MMBtu) as of 10:35 a.m. EDT. At the same time, the WTI Crude futures were tumbling by as much as 8.59% to $61.14. This WTI price is now below the average $65 per barrel price U.S. producers need to profitably drill a new well, as they indicated in the Dallas Fed Energy Survey for the first quarter. Both Brent Crude and WTI Crude prices were set on Friday for their lowest close in four years—since April 2021. The tariff announcement from the U.S. on Wednesday afternoon rekindled concerns about the global economy and all markets tanked on Thursday. The main indexes on Wall Street crashed and registered the worst one-day drop since 2020. The S&P 500 index slipped into correction, falling by more than 10% from its February all-time high, as the prospect of a global trade war terrified many investors that a recession could be in the cards. Oil prices were not spared, either. Oil continued to reel from the double whammy of recession fears fueled by the U.S. tariffs and the OPEC+ decision to add in May triple the expected oil supply volumes. Oil prices tanked 7% on Thursday, and Brent Crude prices fell below $70 per barrel. On Friday morning, the mega selloff continued and Brent slipped below $65 per barrel while WTI Crude could soon be testing the $60 a barrel threshold. The trade war intensified on Friday as China retaliated with additional tariffs of 34% on U.S. goods.

Sable Offshore could face $15 million fine for unauthorized work on Refugio oil spill pipeline - Sable Offshore could face a nearly $15 million fine for unauthorized pipeline work along the Gaviota Coast– including repairs on the pipeline that caused the 2015 Refugio oil spill. The California Coastal Commission will vote on the penalty next month. A March 28 staff report from the California Coastal Commission said Sable has been repairing the pipeline without permits since last September, despite multiple cease-and-desist orders. Sable disputed this in a statement to KCBX, claiming its work is fully authorized and accused the Commission of overreaching its authority. The Coastal Commission will vote on the proposed fine at its April 10 meeting at the Hilton Beachfront Hotel in Santa Barbara. If approved, Sable must pay the fine within 180 days, restore affected areas and apply for necessary permits. A 10% reduction of the fine is possible if it complies with all conditions. Sable sued the Coastal Commission in February– after the Commission sent a second cease-and-desist order– for allegedly overstepping its jurisdiction. Both sides are set for a case management conference in Santa Barbara County Superior Court on April 23.

Glenfarne Finalizes 75% Interest in Alaska LNG Project as Offtake Talks Accelerate -- Glenfarne Group LLC has finalized a deal with the state of Alaska to take a majority ownership stake in the proposed Alaska LNG export project. Under the agreement disclosed Thursday, New York-based Glenfarne received 75% of 8 Star Alaska LLC, a holding company created by the Alaska Gasline Development Corp. (AGDC), after private partners left the project in 2018. Glenfarne now manages development efforts for a long-proposed 20 million ton/year capacity export terminal and 807-mile pipeline, as well as a carbon capture project. Related Tags

Exxon Sees Higher Prices and Refining Boosting Q1 Profit by Up to $2 Billion -- ExxonMobil expects its first-quarter earnings to be higher than in Q4 by up to $2 billion, thanks to higher oil and gas prices and rising refining margins.Exxon’s earnings in the upstream segment could be up to $900 million higher in the first quarter compared to the fourth quarter of 2024, due to higher oil and gas prices and timing effects, the supermajor said in an SEC filing.Oil prices in Q1 were lower than in the same period of 2024, but they were higher than in the fourth quarter of 2024. U.S. natural gas prices, on the other hand, jumped by 30% in the first quarter this year compared to the fourth quarter of 2024, amid fast depleting U.S. inventories in the coldest winter for six years.Exxon could see another up to $1.2 billion gain to its earnings for Q1, from its energy products division, where higher industry margins are expected to generate up to $700 million higher profits and timing effects – another up to $500 million.Following significant declines at the end of 2024, U.S. oil refining margins recovered in the first quarter and jumped by about 20% sequentially.The results teaser “is not comprehensive of all changes between 4Q 2024 and 1Q 2025 results and is not an estimate of 1Q 2025 earnings for the Corporation,” noted Exxon, which will report first-quarter earnings before market open on May 2, 2025.Analysts in The Wall Street Journal consensus forecast expect Exxon to book earnings per share of $1.72 for the first quarter, up from $1.67 EPS for the fourth quarter of 2024. For Q4, Exxon booked consensus-beating earnings $7.6 billion on the back of record Permian and Guyana production despite a widely expected profit decline amid lower commodity prices and weaker refining margins. Earnings in the refining and chemicals divisions slumped in Q4 from the previous quarter, pushed lower by weaker North American refining and chemicals margins.

LNG Canada Nearing Mid-Year Startup Target With Cooldown Cargo Delivery -LNG Canada has received a cooldown cargo at the British Columbia (BC) facility ahead of its expected startup of commercial operations this summer. Map of Natural Gas Intelligence's (NGI) 2023 North America Pipelines & Infrastructure zoomed in to the British Columbia portion to show Canadian LNG infrastructure and market hubs. The Western Canada export project disclosed Tuesday that a vessel arrived at the LNG Canada site in Kitimat in the first natural gas import to arrive on Canada’s west coast. The Shell plc-chartered Maran Gas Roxana vessel loaded at the Queensland Curtis LNG plant in Australia in mid-March, according to Kpler data. Representatives for the joint venture said the cargo would be used to test and cooldown equipment ahead of first LNG production. BC communities were alerted at the end of March that there could be consistent flaring events through April as equipment is commissioned.

MOE now says about 700 litres of crude spilled in St. Clair -- Ministry of the Environment, Conservation and Parks officials the spill at Suncor was smaller than first reported and the clean up of a crude oil spill into the St. Clair River will likely take until the end of this week. March 27, Suncor in Sarnia notified the ministry that up to 5,000 litres of crude oil spilled into the St. Clair River from the company’s cooling system. Emergency crews from Suncor and Shell, downriver from the Suncor dock, placed booms in the water to contain the crude oil. Booms were also deployed at the Shell docks as surveillance boats circled in the area around 2:30 pm that day. The spill sparked concern in St. Clair Township. Officials there warned residents not to use water from the river, but that led to some confusion. Most of the township’s residents use the municipal system which was not affected. Late Thursday afternoon, Lambton Public Health issued a Do Not Use warning for water from St. Clair River saying the crude flow has been stopped but there may be issues downstream. Public health said people should not use the water from the river under any circumstance and avoid skin contact. Public health told residents to use municipal water for things like bathing, drinking and brushing teeth. Public health wasn’t aware of anyone who had become sick from the crude spill. The Town of Petrolia also issued a notice to confirm its water was not affected since its water is drawn from Lake Huron, not the St. Clair River. Clean up of the spill continues, likely until the end of the week according to ministry officials. Gary Wheeler, in a statement to The Independent, says officials believe the amount of oil which entered the river is far less than first reported. “It was later determined that the spilled hydrocarbon consisted of 500 to 700 litres of crude oil. Impacts were primarily identified in the areas around the Suncor south dock and Shell boat dock. Cleanup efforts are focused in this area,” he wrote adding investigators are monitoring the progress of the clean up. “The ministry’s role is to ensure that those responsible for any discharges to the environment take all necessary measures to restore it to its original state.” Wheeler added the ministry is not aware of any wildlife affected by the spill.

US sanctions and “secondary tariffs” begin to shut down Venezuela’s oil sector --Starting on April 2, according to a White House directive, any country that produces or buys Venezuelan oil directly or through third parties will face 25 percent tariffs on all goods imported into the United States, potentially for a year after the last recorded purchase. The secondary tariffs are part of an executive order signed by US President Donald Trump on March 24. Only four days after the Wall Street Journal reported that officials were considering lobbying efforts by US oil giant Chevron to extend its license to operate in Venezuela, the order came as a shock to analysts, with global oil prices increasing about 1 percent after the announcement. The most drastic consequences will be for China, which is currently the largest buyer of Venezuelan oil. Existing US tariffs on China—the world’s two largest economies—would increase from 20 to 45 percent, which could further destabilize supply chains globally. The stated aim of the order is to “sever the financial lifelines” to the government of President Nicolás Maduro to provoke its downfall. But the executive order claims in the most unambiguous terms to date that the United States is fighting an armed invasion launched by the Venezuelan government itself. “The Maduro regime aided and facilitated the influx of Tren de Aragua members into the United States during the prior administration by failing to control its borders, permitting the gang’s operations to flourish within Venezuela, and refusing to take action against its members, thereby exacerbating the illegal immigration crisis,” the order says. Trump had designated the Venezuelan gang Tren de Aragua as a “foreign terrorist organization” and used it as a pretext to invoke the Alien Enemies Act, destroying any semblance of legality in its mass deportation campaign. Secretary of State Marco Rubio, who will be in charge of selecting the countries targeted for tariffs, summed up the order on X: “Any country that allows its companies to produce, extract, or export from Venezuela will be subject to new tariffs, and any companies will be subject to sanctions.” The economic war against the Venezuelan government carries with it a direct threat of military aggression. Last Thursday, Rubio traveled to Guyana, a tiny country half of whose claimed territory has been historically disputed by Venezuela. There, Rubio threatened: “It would be a very bad day for the Venezuelan regime if it attacked Guayana [sic] or ExxonMobil.” This follows the announcement by Caracas that it will organize local elections within the disputed territory of Esequibo. In early March, a Venezuelan Navy ship reportedly sailed near the major offshore oil rigs managed by ExxonMobil in the disputed waters. The threat of tariffs comes after the removal of all licenses granted to specific foreign firms to produce and trade Venezuelan oil. The deadline for Chevron, the company with the largest operation in Venezuela, to leave the country was extended to May 27. The Maduro government has denounced the sanctions as “illegal” for violating international trade rules and a “desperate” attempt to underpin theVenezuelan fascistic right. Maduro has made the case that Tren de Aragua is essentially defunct and was in the past used by the right-wing opposition. Today it is being invoked as a pretext for the mass deportation of Venezuelan migrants. The Maduro administration has also denounced the deportation of about 238 Venezuelan migrants to the so-called Terrorism Containment Center in El Salvador, a concentration camp overseen by fascistic President Nayib Bukele. A Chinese Foreign Ministry spokesperson said: “We urge the United States to cease its interference in Venezuela’s internal affairs and to abolish the unlawful unilateral sanctions on the country.” The announcement of the renewed sanctions and tariffs is immediately worsening Venezuela’s already devastating humanitarian catastrophe. More than seven million Venezuelans, nearly a third of the population, has left, and tens of thousands have died due to the social crisis caused chiefly by US sanctions.

22 dead in Ecuador floods, water crisis continues due to Esmeraldas oil spill - At least 22 people have died across Ecuador as of Monday, March 31, 2025, due to ongoing floods, and multiple landslides that have damaged tens of thousands of homes across the country, affecting nearly 145 000 people. Meanwhile, the oil spill in Esmeraldas continues to affect the province, with an ongoing water crisis worsening the conditions amidst floods. Persistent rains since January have caused widespread flooding and landslides across Ecuador, affecting nearly 145 000 people, many of whom have been displaced. As of Monday, March 31, at least 22 people have died, while at least 98 have been injured across the country. 168 homes have been destroyed and over 36 000 damaged. The conditions have worsened for the Esmeraldas Province, where a major oil spill occurred on March 13 after a part of the Trans-Ecuadorian Pipeline System (SOTE) got ruptured by a landslide. The region continues to be under a State of Emergency, with the oil spill affecting over 11 000 people. Local authorities have been testing water samples across the province to assess the effects of the oil spill on the environment. Authorities have continued to supply fresh water to communities in need, urging citizens to ration it. The government stated that they had distributed 1 515 hygiene kits, 900 cleaning kits, and 9 815 food rations as of March 31. Affected families were also provided with $470 in compensation.

Global Power Needs, Asian LNG Imports Drive Natural Gas Demand to Decade High, IEA Says --Demand for power and energy security is boosting natural gas demand to the highest rate in years and reversing previous energy consumption trends, according to International Energy Agency (IEA) research.Graph and three charts showing global LNG futures settles with historical market volatility.In the latest global energy report, IEA researchers noted that energy demand growth in 2024 accelerated above average as global economies used more of almost every energy source.IEA Executive Director Faith Birol said a renewed need for electricity to power growing data and artificial intelligence projects had reversed a downward trend in overall energy consumption.

Russian Oil and Gas Revenues Slumped by 17% in March - Russian revenues from oil and gas plunged by 17% in March from a year earlier, according to data from Russia’s finance ministry.Oil and gas revenues for the Kremlin fell to $13.1 billion (1.1 trillion Russian rubles) last month, while revenues for the first quarter dipped by nearly 10% on the year to $31.4 billion (2.64 trillion rubles), the official Russian data showed.Much of the decline was likely attributable to the lower oil prices in February and March, as well as the initial chaos with Russian oil trade after the U.S. sanctions from early January—the most aggressive sanctions on Russian oil yet.Proceeds from oil and gas sales are the most important cash stream for Russia’s federal budget.Going forward, Russia’s revenues from oil are set to be volatile due to heightened geopolitical uncertainty.The impasse in the U.S.-brokered talks on ending the war in Ukraine adds uncertainty for Russia’s ability to sell its oil should U.S. President Donald Trump becomes more “pissed off” at Putin.This weekend, President Trump threatenedsecondary sanctions on Russia’s energy industry if Washington and Moscow fail to seal a ceasefire deal for Ukraine.Meanwhile, a bipartisan group of 50 U.S. Senators has prepared a plan to slap a 500% tariff on imported goods from countries that buy Russian oil, gas, and uranium if Russia refuses to engage in good-faith negotiations for a lasting peace with Ukraine.The hard-hitting sanctions on Russia “are at the ready and will receive overwhelming bipartisan, bicameral support if presented to the Senate and House for a vote,” the Senators said earlier this week.“We share President Trump’s frustration with Russia when it comes to obtaining a ceasefire, and support President Trump’s desire to achieve a lasting, just and honorable peace,” they added. Russia signaled on Tuesday that it cannot accept the U.S. plan to end the war in Ukraine in the “current form.”

Russian Arctic LNG 2 Project Resumes Gas Processing -Arctic LNG 2, the processing and export facility that was billed as Russia’s flagship LNG project, has gradually resumed gas processing after months of hiatus, Reuters reported on Tuesday, citing industry sources and satellite images. Arctic LNG 2 has been under U.S. and EU sanctions since last year, and the project hasn’t been able to sell any cargo because of the sanctions.The first production train at the plant was shut in early October over the project developers’ inability to secure buyers amid the Western sanctions on Arctic LNG 2, according to one of Reuters’ sources.The plant continues has now slowly resumed gas processing and keeps it at low rates as Russia expects what the Trump Administration would do with the sanctions.Russian LNG developer and exporter Novatek, the majority owner of Arctic LNG 2, is looking to rebuild relations with the U.S. with the help of lobbyists, sources with knowledge of the matter told Reuters in December.Hit heavily by sanctions, Arctic LNG 2 was put on ice last year and Novatek has struggled to sell any cargo to a buyer.Located in the Gydan Peninsula, Arctic LNG 2 was considered key to Russia’s efforts to boost its global LNG market share from 8% to 20% by 2030-2035.But the project has come under intensifying sanctions from the United States, which have put off any buyers that were previously considering buying cargoes from Arctic LNG 2.The project has seen months of delays after the initial U.S. sanctions in November 2023 upended the company’s plans for production start-up and export timelines.In August 2024, the U.S. State Department intensified efforts to derail Arctic LNG 2 exports by targeting companies involved in the development of the project and vessels found to have loaded LNG from the facility. The U.S. designated multiple companies related to Arctic LNG 2 to further disrupt the project’s ability to produce and export LNG, as well as the project’s ability to procure critical LNG carriers.

Top German Politicians Are Calling For Resumption Of Russian Gas - In Europe, the lure of a return to cheap energy is ever-present, and that conversation is becoming easier as the Trump administration in Washington pushes hard for ceasefire negotiations with Moscow. Senior German politicians are already calling for a resumption of ties with Russia. For example Michael Kretschmer, a senior member of Friedrich Merz’s centre-right Christian Democrats, is now arguing that EU sanctions on Russia are "completely out of date" as they increasingly openly contradict "what the Americans are doing." Financial Times in a fresh report quoted Kretschmer's words to the German press agency DPA as follows: "When you realize that you’re weakening yourself more than your opponent, then you have to think about whether all of this is right."The same publication has observed the expected immediate backlash to the statements as follows:Kretschmer, who is also a long-standing opponent of weapons deliveries to Ukraine, is the latest in a string of figures from both Merz’s centre-right CDU and the centre-left Social Democrats to have gone public in recent weeks with calls to resume economic or energy ties with Russia.That has created a problem for Merz — who is all but certain to be Germany’s next chancellor — as well as for his likely coalition partners in the SPD at a time when he is trying to cast himself as a strong partner for Ukraine and for Europe. Germany’s Green party, which is strongly pro-Kyiv, called on Sunday for Merz to clamp down on “friends of Putin” in his party. But Merz hasn't himself actively tried to silence this growing desire in some political circles for rapprochement with Russia.But Bloomberg reported Monday, "The co-head of Germany’s Social Democrats party and frontrunner to become the next finance minister Lars Klingbeil dismissed swirling speculation over reviving pipeline gas deliveries from Russia after a potential peace deal for Ukraine."And as we highlighted, TotalEnergies’ chief executive Patrick Pouyanne said last week:“I would not be surprised if two out of the four (came) back to stream, not four out of the four,” Patrick Pouyanne said at an industry event in Germany’s capital city, Berlin, as carried by Reuters.“There is no way to be competitive against Russian gas with LNG coming from wherever it is,” the executive added.

A fireball from a burst gas pipeline in Malaysia injures 145 people -(AP) — A fireball that erupted from a burst gas pipeline soared into the sky outside Malaysia's largest city and injured 145 people as it burned for several hours before being put out, authorities said Tuesday. National oil company Petronas said the fire started at one of its gas pipelines outside Kuala Lumpur. The inferno caused 20-story flames and a huge crater in an empty area near a residential neighborhood. Health Minister Dzulkefly Ahmad was quoted by the New Straits Times daily as saying 145 people including three children were injured. He said 67 people were still being treated at public hospitals, mostly for second and third-degree burns, while 37 others sought treatment from clinics and private hospitals. The fire department said the fire damaged 190 houses and 148 cars. Investigations were underway into the cause of the fire. Authorities said homes within 290 meters (yards) of the site will remain off-limits for now. “There is a lot of damage across housing areas,” said Prime Minister Anwar Ibrahim, who visited affected residents and announced financial aid for victims. He told them the government and Petronas will be responsible for repairing affected homes, which could take months. Some residents said they felt a strong tremor, and homes shook. Lee Weng Ken, whose left leg was burned, said the ceiling of his house collapsed. “I rushed out of my house but fell and suffered burns due to the heat from the blaze,” he told Bernama. Another victim who only wanted to be known as Andy told Bernama he ran out of his home with his children when they felt tremors and saw the fire about 100 meters away. “My 18-year-old daughter injured her foot when she fell while climbing the fence due to the heat," he said.

MPA deploys patrol and oil spill response craft after oil patch spotted off Pulau Ubin | The Straits Times– The Maritime and Port Authority of Singapore (MPA) has deployed three patrol craft after an oil patch was sighted in the eastern Johor Strait off the north-eastern coast of Pulau Ubin. The oil patch was sighted at 7.10pm, said MPA in a statement on April 3, adding that an oil spill response craft was also deployed. The team on board will survey the area and carry out mitigation efforts, said MPA. “Relevant government agencies have been informed and they are taking necessary precautionary measures and are monitoring the situation closely,” it said. The Johor Port Authority, which MPA said it is liaising with, has confirmed an oil spill incident within the Langsat Terminal, located near the mouth of the Johor River. MPA added that navigational traffic in the area remains unaffected and that it will provide updates of significant developments. In a Facebook post that followed MPA’s announcement, the National Environment Agency (NEA) advised the public against swimming and other primary contact water activities at Changi Beach and Pasir Ris Beach until further notice. Primary contact activities are those where a person’s whole body or face and trunk are frequently immersed, and it is likely that some water will be swallowed. They include wakeboarding, windsurfing and water immersion training. NEA added that parts of Changi Beach will be cordoned off to facilitate clean-up operations.

One in Five Refineries Faces Shutdown Despite Rising Fuel Demand - Refineries are switching to biofuels or shutting down due to hostile regulations—but demand for oil products is growing. This could result in either a market imbalance that will make these products more expensive or a geographical imbalance, which those who care about supply security wouldn’t like.A total of 101 out of 410 refineries around the world are at risk of getting shut down over the next decade, Wood Mackenzie analysts estimated recently, noting that this number represented 21% of global refining capacity. The reasons for this estimate include peak oil demand that would reduce demand for the output of refineries and high operating costs in places such as Europe, which collect carbon taxes from their energy industry.Indeed, Wood Mac considers the inflated operating costs of refineries an especially important risk factor for their future prospects, as well as their investments in decarbonization. “Refineries without committed investments in low-carbon technologies, such as carbon capture, energy efficiency upgrades, or alternative fuels, are especially exposed,” the analysts wrote. “Those located in regions with established or escalating carbon pricing costs, including the EU, UK, and Canada, are under the greatest pressure.”The carbon prices in these jurisdictions are scheduled to rise to three times above the global average by 2035, the analysts also noted, which will likely make the continuation of the life of some refineries in the EU, the UK, and Canada economically nonsensical—unless policies change.At the end of last year, analysts and traders told Reuters they expected higher diesel prices this year because of refinery closures. At the time the report came out, refiners were experiencing depressed margins across geographies. But with several refineries slated for shutdown this year, things were going to change—which suggests demand for fuel remained stable if not actively growing.Yet some have forecast demand will grow this year, even as three large refining facilities close: the Grangemouth refinery, Scotland’s only crude processing facility, which is set to close in the second quarter of 2025; LyondellBasell’s Houston oil refinery, and the Los Angeles refinery of Phillips 66, scheduled for closure by the end of next year.These three represent refining capacity of some 1 million barrels daily. Meanwhile, however, around 800,000 bpd in new refining capacity is set to launch in Asia, strengthening the argument that operating costs are a crucial factor, and so are carbon taxes: Asian countries have nowhere near the stringent carbon tax legislation that the UK, the European Union, and California have. So, these 800,000 bpd in fresh capacity would certainly compensate for the closures, but they are capacity abroad, not at home, and many have come to view this as a potential problem for supply security—hence the EU’s intention to invest directly in LNG production across the world, for instance.In this context, it is interesting that the Wood Mac analysis points to Europe and China as homes to most refineries that are at risk of closure. While in Europe the top reason seems to be the carbon tax and its effect on operating costs, for China, the chief factor is decarbonization and more specifically the electrification of transport.Many observers have argued that China’s concerted electrification push and the diversification into LNG-powered trucks would kill a lot of oil demand. Indeed, consumption data suggests there has been an impact. Yet a new refinery just started operating in China a few months ago, and more recently, its second unit started up, adding a fresh 400,000 bpd to the country’s total capacity. It seems demand is not quite dead yet and will not be for some time—especially for those who make their refineries petrochemical complexes, too.The refining and petrochemical facilities have the best chances of survival, according to Wood Mackenzie. This is because most forecasts for fuel demand, albeit based on policies that are not as immutable as most assume, see a drop in that over the medium term. Most forecasts for plastics, on the other hand, are rather brighter, regardless of climate policies.If closures proceed as predicted, which is quite likely in the current political context in places such as Europe, the EU, and Canada, there is a risk of fuel shortages emerging, as reported by the U.S. Energy Information Administration in the March edition of its Short-Term Energy Outlook. The reason: while refineries are shutting down, demand for fuels, notably diesel, has repeatedly surprised to the upside. To tackle the potential shortage, the EIA said the U.S. might have to curb fuel exports—because energy supply security is important. It appears, then, that demand is not the primary reason for refinery closures. With EV sales disappointing and a “revolution” in the electrification of transport never quite really happening, demand for fuels looks rather stable—and still growing despite the unquestionable rise in EVs on roads. So, refinery closures appear motivated by other factors, notably operating costs. These are rising due to openly hostile policies to the energy industry—and the resulting closures are threatening the security of fuel supply and significantly increasing the risk of boosting reliance on imported fuels.

Indian Refiners Seek Alternatives To Russian Oil After Trump Tariff Threat --Indian oil refiners have started looking for alternative supplies of crude after President Trump threatened secondary sanctions on Russian energy exports if Moscow refuses to sign a ceasefire deal for the Ukraine. Bloomberg reported that companies such as Bharat Petroleum Corp. and Hindustan Petroleum Corp. were looking for oil cargoes from the Middle East, the North Sea, and the Mediterranean for May delivery in anticipation of tariff action.India has emerged as one of the biggest buyers of Russian crude since the start of the war in Ukraine, with grades including Urals accounting for almost 40% of the nation’s imports last year. Refiners have enjoyed elevated profits due to the cheaper supplies, although that advantage has waned in recent months. China has also purchased bigger volumes since the invasion. President Trump threatened a 25% tariff on all Russian oil, saying “If Russia and I are unable to make a deal on stopping the bloodshed in Ukraine, and if I think it was Russia’s fault — which it might not be — but if I think it was Russia’s fault, I am going to put secondary tariffs on oil, on all oil coming out of Russia,” in an interview for NBC.“That would be that if you buy oil from Russia, you can’t do business in the United States. There will be a 25% tariff on all oil, a 25- to 50-point tariff on all oil,” Trump elaborated.The mechanism would be the same as the one Trump applied to Venezuela, slapping a 25% tariff on all imports from countries that continue buying crude from the South American nation.Since the US is India’s top trading partner, under a scenario of “secondary tariffs” for buyers of Russian oil, it’s likely that the South Asian nation would look for alternative supplies, said Warren Patterson, the head of commodities strategy for ING Groep NV in Singapore.“Traditional sanctions have created enough uncertainty,” he said. “The idea of secondary tariffs only intensifies this uncertainty, given that it is a new tool. Buyers need to decide whether the advantages of picking up discounted crude outweigh the potential hit on its economy from additional tariffs.”“The big question is, will these repeated shocks end up structurally reducing Indian appetite for Russian crude? I have my doubts, as long as the economics works,” said Vandana Hari, founder of Vanda Insights in Singapore. “It’s a bluff, a bargaining ploy on the part of Trump. But refiners need to prepare, they can’t rely on hunches, no matter how bizarre and unlikely a supply threat.”

Russia Halts Large Chunk Of Kazakhstan's Oil Export Capacity -- Russia has ordered shut two of the three moorings of the main oil export terminal on the Black Sea handling Kazakhstan’s oil exports, which could seriously disrupt Kazakh crude shipments if the suspension lasts more than a few days. Following snap safety inspections by Russia’s Federal Agency for Transport Supervision, prompted by the Kerch Strait oil spill in December 2024, Russia ordered on Monday that the SPM-1 and SPM-2 moorings of the terminal of the Caspian Pipeline Consortium (CPC) be shut immediately, CPC said in a statement. The consortium operates the pipeline from the Caspian coast in northwest Kazakhstan to the Novorossiysk port on Russia’s Black Sea coast. The port handles most of Kazakhstan’s crude exports from giant oilfields in Kazakhstan operated by international oil firms, including U.S. supermajor Chevron. Affiliates of Chevron and ExxonMobil are also minority shareholders in CPC, whose biggest shareholder is the Russian Federation with a 24% stake. CPC complied with the order for a temporary ban of operations at the SPM-1 and SPM-2 moorings and took them out of service “until the identified deficiencies have been addressed.” Until then, all transshipment operations at the CPC Marine Terminal will be delivered using the SPM-3 mooring commissioned in 2014, the consortium said.The suspension of part of the export capacity could more than halve the crude oil exports of Kazakhstan if it drags on for more than a week, trading sources told Reuters on Tuesday. The potential disruption to Kazakhstan’s oil exports comes as the country part of the OPEC+ pact saw its crude production hit a record high in March despite continued pledges to start complying with its OPEC+ quota that it has been exceeding for years.

OPEC+ to raise crude oil output by 411,000 b/d in May - Eight key members of the OPEC+ grouping on Thursday announced a cumulative crude oil output ramp up of 411,000 barrels per day (b/d). The eight OPEC+ countries — which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman — met virtually on April 3, 2025, to review global market conditions and outlook, OPEC said. The development comes on a day the US slapped reciprocal tariffs on trading partners sending the global economy in a tailspin stoking fears of a recession in several countries. Both these developments have impacted international crude oil prices with Brent slipping below $70 a barrel by evening (India time), while the WTI fell to $66.53 a barrel. “In view of the continuing healthy market fundamentals and the positive market outlook, and in accordance with the decision agreed upon on December 5, 2024, subsequently reaffirmed on March 3, 2025, to start a gradual and flexible return of the 2.2 million barrels per day (mb/d) voluntary adjustments starting from April 1, 2025, the eight participating countries will implement a production adjustment of 411,000 b/d, equivalent to three monthly increments, in May 2025,” OPEC said. This comprises the increment originally planned for May in addition to two monthly increments. The gradual increases may be paused or reversed subject to evolving market conditions, it added. This flexibility will allow the group to continue to support oil market stability. The eight OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation. “The eight countries reaffirmed their commitment to the voluntary production adjustments agreed at the 53rd JMMC meeting on April 3, 2024. They also confirmed their intention to fully compensate any overproduced volume since January 2024 and to submit updated front-loaded compensation plans to the OPEC Secretariat by April 15, 2025 which will be posted on the Secretariat’s website,” it said. The eight OPEC+ countries will hold monthly meetings to review market conditions, conformity, and compensation. The eight countries will meet on the 5th of May to decide on June production levels.

Oil inches up as investors await Trump's actions on Russian oil, Iran – (Reuters) – Oil edged up on Monday, with investors cautious after U.S. President Donald Trump threatened to impose secondary tariffs on buyers of Russian oil and warned Iran of possible military action if it did not agree to a deal over its nuclear program. The more active June Brent crude futures was up 43 cents, or 0.59%, at $73.19 a barrel by 1322 GMT, while U.S. West Texas Intermediate crude was 47 cents, or 0.68%, higher at $69.83 a barrel. Front-month Brent, trading at $74.27, expires later on Monday. Oil prices dropped earlier in the session before recovering and stabilizing at current levels. “(Trump’s) threat on secondary tariffs on Russia and Iranian oil is a factor oil market participants are tracking, although he has indicated he is not planning to introduce them for now,” said UBS analyst Giovanni Staunovo. “But, there is a rising risk of larger supply risks down the road.” Trump said on Sunday he was “pissed off” at Russian President Vladimir Putin and will impose 25%-50% secondary tariffs on buyers of Russian oil if he feels Moscow is hindering his efforts to end the war in Ukraine. China and India are major buyers of Russian crude and their acquiescence would be crucial to making any secondary sanctions package seriously hurt exports from the world’s second largest oil exporter. Trump also threatened Iran on Sunday with bombing and secondary tariffs if Tehran did not come to an agreement with Washington over its nuclear program. Some analysts believe that Trump may not act on his threats, a view that is putting a cap on oil prices. IG analyst Tony Sycamore said the market felt Trump would not follow through. If enacted, he said, the tariffs would be another step toward a trade war that would weigh on global growth and demand for crude oil. On Monday several Chinese traders were unfazed by the latest threat. Three who spoke with Reuters all said Trump’s constant brinkmanship meant they discounted what he said. “We expect WTI to stay in a range of $65 to $75 for now as the market assesses the impact of Trump tariffs on oil supply and global economy, as well as the supply situation from the U.S. and OPEC+,” said Yuki Takashima, an economist at Nomura Securities. Elsewhere, talks to restart Kurdish oil exports through the Iraq-Turkey pipeline have hit a snag as a lack of clarity over payments and contracts persists, two sources with direct knowledge of the matter told Reuters.

WTI Soars Nearly 3% on Trump’s Russia, Iran Threats - U.S. benchmark crude oil prices soared 2.65% on Monday, with West Texas Intermediate (WTI) hitting $71.20, up $1.84 at 11:47 a.m. ET on fears Trump will follow through on more tariff threats for buyers of Russian oil, combined with the prospect of a military response to Iran. Brent crude was also climbing on Monday, up 1.47% to $74.71. Two geopolitical deals are in play here. The first is a ceasefire deal over Russia-Ukraine, and the second focuses on a new deal over Iran’s nuclear program. Late on Sunday, Trump warned that he could impose secondary sanctions on Russia’s energy sector if the U.S. and Russia are unable to reach a ceasefire agreement regarding the war in Ukraine. “If Russia and I are unable to come to an agreement to stop the violence in Ukraine, and if I believe Russia is responsible — which may not be the case — but if I believe they are to blame, I will impose secondary tariffs on all Russian oil exports,” Trump told NBC. Trump lashed out at remarks made by Putin, who questioned the legitimacy of Ukrainian President Volodymyr Zelensky’s government and suggested that a change in leadership may be necessary for a peace deal to be valid. Putin has consistently emphasized that elections in Ukraine will have to precede any ceasefire deal. Even more worrying to markets, Trump earlier on Monday threatened to bomb Iran if a new nuclear deal is not agreed. “If they don't make a deal, there will be bombing,” Trump said in a telephone interview with NBC. “It will be bombing the likes of which they have never seen before.” The U.S. president said, however, the two sides were engaged in negotiations, which did not prevent him from extending a 25% indirect tariff threat to Tehran. Trump’s remarks follow Iran's official refusal to engage in direct negotiations with the U.S. Tehran emphasized that its willingness to negotiate would depend on the actions of the U.S. In the meantime, oil and gas executives in the Dallas Fed Energy Survey published last week said they expected WTI to average $68 per barrel for the six-month forecast, $70 per barrel for 12 months and $74 for the two-year forecast, reaching $80 in five years.

Oil prices climb 2% to five-week high on Russia, Iran supply worries (Reuters) - Oil prices climbed about 2% to a five-week high on Monday on worries supplies could decline if U.S. President Donald Trump follows through on threats to impose more tariffs on Russia and to possibly attack Iran.Brent futures were up $1.11, or 1.5%, to settle at $74.74 a barrel, while U.S. West Texas Intermediate crude rose $2.12, or 3.1%, to settle at $71.48. That was the highest close for Brent since February 24 and the highest close for WTI since February 20.Brent's premium over WTI fell to $3.02 a barrel, its lowest since July 2024. Analysts have said when Brent's premium over WTI falls below $4 a barrel, it does not make much economic sense for energy firms to send ships across the ocean to pick up U.S. crude, which should result in lower U.S. exports.Trump said on Sunday he was "pissed off" at Russian President Vladimir Putin and will impose 25%-50% secondary tariffs on buyers of Russian oil if he feels Moscow is hindering Trump's efforts to end the war in Ukraine."(Trump's) threat on secondary tariffs on Russia and Iranian oil is a factor oil market participants are tracking, although he has indicated he is not planning to introduce them for now," said UBS analyst Giovanni Staunovo. "But, there is a rising risk of larger supply risks down the road."The Kremlin said on Monday that Russia and the U.S. were working on ideas for a possible peace settlement in Ukraine.China and India are major buyers of Russian crude and their acquiescence would be crucial to making any secondary sanctions package seriously hurt exports from the world's second-largest oil exporter.Trump also threatened Iran on Sunday with bombing and secondary tariffs if Tehran did not come to an agreement with Washington over its nuclear program. Iran's Supreme Leader Ayatollah Ali Khamenei said on Monday the U.S. would receive a strong blow if it acts on Trump's threat. Iran'sRevolutionary Guards, meanwhile, seized two foreign tankers in the Persian Gulf carrying over 3 million litres (792,516 U.S. gallons) of allegedly smuggled diesel fuel.Some analysts believe that Trump may not act on his threats, a view that is putting a cap on oil prices.IG analyst Tony Sycamore said the market felt Trump would not follow through. If enacted, he said, the tariffs would be another step toward a trade war that would weigh on global growth and demand for crude oil.On Monday, several Chinese traders were unfazed by the latest threat. Three who spoke with Reuters all said Trump's constant brinkmanship meant they discounted what he said.Elsewhere, talks to restart Kurdish oil exports through the Iraq-Turkey pipeline have hit a snag as a lack of clarity over payments and contracts persists, two sources with direct knowledge of the matter told Reuters.In another move that could limit world oil supplies, U.S. authorities notified Spanish oil company Repsol that its license to export oil from Venezuela is to be revoked. Repsol said it is talking with U.S. authorities on ways the company can keep operating in Venezuela.In the U.S., crude oil production fell by 305,000 barrels per day to 13.15 million bpd in January, theIn China, the world's second-biggest economy, manufacturing activity expanded at the fastest pace in a year in March, a factory survey showed on Monday, with new orders boosting production, giving the economy some reprieve as it deals with an intensifying U.S. trade war. In Germany, Europe's biggest economy, inflation fell more than expected in March, bolstering the case for policymakers seeking further interest rate cuts from the European Central Bank. Lower interest rates reduce consumer borrowing costs, which can spur economic growth and demand for oil.

Oil Prices Climb Amid Supply Fears and Geopolitical Tensions – Oil prices continued their upward momentum on Tuesday as geopolitical tensions and potential supply disruptions took center stage. The market reacted strongly to U.S. President Donald Trump’s threats to impose secondary sanctions on Russian crude and take aggressive action against Iran. However, lingering concerns over the impact of trade disputes on global economic growth kept gains in check. Oil Prices Edge Higher on Geopolitical Uncertainty As of 06:45 GMT, Brent crude futures climbed 21 cents (0.3%) to $74.98 per barrel, while West Texas Intermediate (WTI) crude rose 22 cents (0.3%) to $71.70 per barrel. The modest price increase reflects a complex tug-of-war between supply risks and demand-side pressures. According to Yeap Jun Rong, market strategist at IG, the near-term risks favor higher prices, with U.S. threats of sanctions on Russian and Iranian oil prompting market participants to brace for a potential tightening of global oil supplies. The U.S. stance on Russia and Iran has added uncertainty to an already fragile oil market. Secondary sanctions could significantly restrict the ability of countries and companies to trade Russian crude, reducing global oil availability. Additionally, heightened hostilities with Iran could lead to disruptions in the Strait of Hormuz, a vital waterway through which about 20% of the world’s oil passes daily. Any instability in this region could send oil prices soaring as supply concerns escalate. Despite these bullish factors, broader economic concerns continue to cap oil price gains. The ongoing trade tensions between the U.S. and major economies, particularly China and the European Union, have raised fears of a slowdown in global growth. A weaker economic outlook could dampen oil demand, offsetting some of the upward pressure on prices. Additionally, potential increases in supply from OPEC+ and U.S. shale producers could counterbalance supply constraints caused by geopolitical tensions. OPEC+ nations have signaled a willingness to ramp up production if necessary, while U.S. shale output remains robust. Market Outlook: Uncertain but Volatile With oil prices caught between geopolitical risks and economic concerns, volatility is expected to persist. Traders will closely monitor further developments in U.S. foreign policy, OPEC+ decisions, and global economic data for clues on the future direction of crude markets. For now, oil remains on an upward trajectory, but a delicate balance between supply threats and demand concerns will dictate the next moves in the market.

Oil Prices Flat As OPEC+ Starts Easing Production Cuts Oil prices inched down slightly on Tuesday morning as OPEC+ begins adding supply from April 1, amid U.S. threats of secondary tariffs on buyers of Russian and Iranian oil and persistent concerns about U.S. tariffs weakening economic growth. As of 8:40 a.m. EDT on Tuesday, the front-month futures of the U.S. benchmark, WTI Crude, were trading down 0.07% at $71.43.Brent Crude, the international benchmark, was down by 0.08% at $74.65. On Monday, oil jumped by $2 per barrel from Friday’s close - to a five-week high - after U.S. President Donald Trump threatened secondary sanctions on Russia’s energy industry if Washington and Moscow fail to seal a ceasefire deal for Ukraine.“If Russia and I are unable to make a deal on stopping the bloodshed in Ukraine, and if I think it was Russia’s fault — which it might not be — but if I think it was Russia’s fault, I am going to put secondary tariffs on oil, on all oil coming out of Russia,” Trump told NBC in an interview on Sunday.In the same interview, President Trump also threatened Iran with bombings and sanctions if the two fail to reach an agreement on a new nuclear deal that would see Iran pledge not to build nuclear weapons.By Tuesday, oil prices had eased from the five-week high as OPEC+ began unwinding the production cuts by adding about 138,000 barrels per day (bpd) to the group’s supply as of today.The next key OPEC+ catalyst for oil prices would be Saturday’s meeting of the Joint Ministerial Monitoring Committee (JMMC) of the group, which will review market developments and potentially recommend production levels for May. The alliance will have to decide whether to push forward with further easing of the cuts or pause the increase in supply.Until then, oil prices will react to any geopolitical development—rise in case of more threats of secondary tariffs on oil buyers or fall if economic data disappoint and suggest that the trade and tariff wars are undermining growth.

Oil eases off five-week highs as traders weigh impact of imminent Trump tariffs (Reuters) - Oil prices edged lower on Tuesday as traders braced for reciprocal tariffs that U.S. President Donald Trump is due to announce on Wednesday, which could intensify a global trade war. However, Trump's threats to impose secondary tariffs on Russian oil and to attack Iran fueled supply worries, limiting losses. Brent futures settled down 28 cents, or 0.37%, at $74.49 a barrel. The session high was above $75 a barrel. U.S. West Texas Intermediate crude futures fell 28 cents, or 0.39%, to $71.20. On Monday, the contracts settled at five-week highs. The White House provided no details about the size and scope of tariffs that it confirmed Trump will impose on Wednesday. "The market is getting a little jittery with less than 24 hours to go," . "We may lose some Mexican, Venezuela and Canadian supplies, but there is definitely a chance that demand destruction could outpace those barrels," he added. A Reuters poll of 49 economists and analysts in March projected that oil prices would remain under pressure this year from U.S. tariffs and economic slowdowns in India and China, while OPEC+ increases supply. Slower global growth would dent fuel demand, which might offset any reduction in supply due to Trump's threats. "While stricter sanctions on Iran, Venezuela and Russia could constrain global supply, the U.S. tariffs are likely to dampen global energy demand and slow economic growth, which in turn will affect oil demand further out on the curve," "As a result, betting on a clear direction for the market has been – and remains – challenging." Trump on Sunday said he would impose secondary tariffs of 25% to 50% on Russian oil buyers if Moscow tried to block efforts to end the war in Ukraine. Tariffs on buyers of oil from Russia, the world's second largest oil exporter, would disrupt global supply and hurt Moscow's biggest customers, China and India. Trump threatened Iran with similar tariffs and also with bombings if Tehran did not reach an agreement with the White House over its nuclear program. Prices found some support after Russia ordered Kazakhstan's main oil export terminal to close two of its three moorings amid a standoff between Kazakhstan and OPEC+ - the Organization of the Petroleum Exporting Countries, plus allies led by Russia - over excess production. Kazakhstan will have to start cutting oil output as a result, two industry sources told Reuters. Another source said repair work at the Caspian Pipeline Consortium terminal will take more than a month. The market will watch an April 5 OPEC+ ministerial committee meeting to review policy. Sources told Reuters OPEC+ was on track to proceed with a production hike of 135,000 barrels per day in May. OPEC+ had agreed to a similar hike in production for April. Meanwhile, five analysts surveyed by Reuters estimated on average that U.S. crude inventories fell by about 2.1 million barrels in the week to March 28.

Oil Prices Stabilize Amid Awaited New Tariffs. -- Oil prices stabilized on Wednesday amid weak trading after falling in the previous session due to concerns that new U.S. tariffs could escalate a global trade war, potentially reducing demand for crude oil. Brent crude futures settled at $74.49 per barrel after a 0.4% drop on Tuesday. U.S. West Texas Intermediate (WTI) crude futures rose by 3 cents to $71.23 after also falling by 0.4%. Prices had reached their highest levels in five weeks on Monday at settlement. The White House confirmed on Tuesday, without going into details, that President Donald Trump would impose new tariffs on Wednesday. Priyanka Sachdeva, Senior Market Analyst at Philip Nova, stated, "Oil prices rose by about 2% in March, but have remained stable since then, as markets await clarity on Trump's plans for comprehensive tariffs. The low trading volumes in the oil market indicate growing concerns about those tariffs, despite some positive demand signals from China." According to Intercontinental Exchange data shown on the London Stock Exchange Group's platform, the trading volume for June Brent contracts reached 13,936 contracts, compared to open contracts for the same month, which totaled 672,617 contracts. Trump dubbed April 2 as "Liberation Day," during which he is expected to announce a package of tariffs that could destabilize the global trade system. The recent drop in oil prices has been limited by Trump's threat to impose secondary tariffs on Russian oil and tighten sanctions on Iran as part of his administration's "maximum pressure" policy to reduce Tehran's exports. Janif Shah, Vice President of Commodity Markets at Rystad Energy, said, "If Trump's tariff pressure succeeds and leads to a ceasefire between Russia and Ukraine, there is a scenario where these punitive measures could be short-term." He added, "Oil prices have remained calm so far, waiting for an official response from major importing countries regarding the newly proposed tariffs." U.S. oil and fuel inventories showed a mixed picture of supply and demand in the world's largest oil producer and consumer. The American Petroleum Institute (API) reported, citing sources, that U.S. crude oil inventories increased by 6 million barrels in the week ending March 28, while gasoline stocks fell by 1.6 million barrels and distillate inventories dropped by 11,000 barrels. Official U.S. crude oil inventory data from the Energy Information Administration (EIA) is scheduled to be released later on Wednesday.

WTI 'Steady' Near 5-Week Highs As 'Drill Baby Drill' Lifts US Crude Production -Crude prices continue to tread water above $70 (WTI) this morning (holding Monday's gains on potential sanctions on Russian oil), drifting modestly lower aftr API reported a large crude build overnight ahead of new supply coming this month as OPEC+ begins to unwind 2.2-million barrels per day of production cuts. However the new supply is being offset with tightened U.S. sanctions on Iran and Venezuela, while Trump this week threatened to impose secondary tariffs on U.S. imports from countries buying Russian oil. "Crude prices paused last month's rally, with Brent finding some resistance above USD 75, with the focus-for now-turning from a sanctions-led reduction in supply to Trump's tariff announcement and its potential negative impact on growth and demand," Saxo Bank noted. DOE:

• Crude +6.165mm
• Cushing +2.373mm - biggest build since Jan 2023
• Gasoline -1.551mm
• Distillates +264k

The official data confirmed API's report that Crude inventories saw a large build last week. Stocks at the Cushing hub also soared (most since Jan 2023) as Gasoline stocks fell for the 5th straight week... Source: Bloomberg Including a 285k barrel addition to the SPR, last week saw the largest total crude inventory build since the last week of January... US Crude production was steady at record highs as Trump's 'drill baby drill' plan appears to be working with the rig count rising notably... WTI is holding above $71 for now (near 5-week highs)...

The Market Prepared for the U.S. to Impose Sweeping Reciprocal Tariffs --The crude oil market traded higher as the market prepared for the U.S. to impose sweeping reciprocal tariffs later on Wednesday afternoon. The market also seemed to have shrugged off the bearish weekly petroleum stocks reports, which showed unexpected builds in crude stocks. The oil market traded lower in overnight trading, breaching its previous low of $71.03 as it sold off to a low of $70.61 early in the morning. However, the market bounced off its low and retraced its losses as it traded to a high of $71.91. This was despite the EIA reporting a large build of over 6 million barrels in crude stocks, compared with market expectations of a draw. The market later settled in a sideways trading range as the market braced for tariff announcement. The May WTI contract settled up 51 cents at $71.71 and the June Brent contract settled up 46 cents at $74.95. The product markets ended in positive territory, with the heating oil market settling up 3.31 cents at $2.3220 and the RB market settling up 2.85 cents at $2.3310. Two delegates said eight OPEC+ countries meeting on Thursday will focus talks on how to convince Kazakhstan to stop exceeding its output quota and its plans to compensate for overproduction. OPEC+ is urging Kazakhstand, among other members, to make further cuts to compensate for excess production. Eight members of OPEC+ are expected to increase oil output by 135,000 bpd in May. The two delegates said the group is expected to proceed with this plan, following similar comments on Tuesday from other OPEC+ delegates. The May hike is the next increment of a plan agreed by Russia, Saudi Arabia, UAE, Kuwait, Iraq, Algeria, Kazakhstan and Oman to gradually unwind their most recent output cut of 2.2 million bpd, which came into effect this month. An OPEC+ ministerial committee was initially scheduled to meet on April 5th, although one source said this may also take place on Thursday. The Kremlin said Russian restrictions were imposed on Black Sea oil export infrastructure from the Caspian pipeline due to Ukrainian drone attacks on the pipeline’s infrastructure. Russia has accused Ukraine of striking a CPC Kropotkinskaya pumping station and a nearby oil depot in southern Russia. On Wednesday, Russia imposed restrictions on another major oil export route, suspending a mooring at the Black Sea port of Novorossiisk only a day after restricting loadings from a Caspian pipeline. Russia’s oil pipeline monopoly Transneft said it had suspended operations at a mooring at the Black Sea port of Novorossiisk for 90 days following an inspection by a transport watchdog. IIR Energy said U.S. oil refiners are expected to shut in about 1.8 million bpd of capacity in the week ending April 4th, cutting the available refining capacity by 166,000 bpd. Offline capacity is expected to fall to 1.5 million bpd in the week ending April 11th.

Oil prices fall into negative territory as Trump announces new tariffs (Reuters) - Oil prices fell to negative territory after rising by a dollar in post-settlement trade on Wednesday as U.S. President Donald Trump announced reciprocal tariffs on trading partners, stoking concerns that a global trade war may dampen demand for crude. Brent futures settled 46 cents higher, or 0.6%, at $74.95 a barrel, while U.S. West Texas Intermediate crude futures gained 51 cents, or 0.7%, to settle at $71.71. U.S. futures rose by a dollar and then turned negative, along with the Brent contract, over the course of Trump's press conference on Wednesday afternoon in which he announced tariffs on trading partners including the European Union, China and South Korea. For weeks Trump has touted April 2 as "Liberation Day," bringing new duties that could rattle the global trade system. A chart listing countries and tariffs that Trump showed during his announcement did not detail tariffs on Canada and Mexico. However, USMCA-compliant goods from Mexico and Canada, including oil, would remain exempt from the tariffs, a senior official told Reuters. Canada supplies some 4 million barrels per day of its crude oil to the United States. Trump's tariff policies could stoke inflation, slow economic growth and escalate trade disputes, possibilities that have limited oil price gains. "Crude prices have paused last month's rally, with Brent finding some resistance above $75, with the focus for now turning from a sanctions-led reduction in supply to Trump's tariff announcement and its potential negative impact on growth and demand," s Comments from Mexico eased some worries about a trade war between the two countries after Mexican President Claudia Sheinbaum said on Wednesday that Mexico does not plan to impose tit-for-tat tariffs on the United States. "Oil is selling off a little on the news, and it could introduce some additional trade and economic uncertainties, but I think people were worried it would be more extreme," said Josh Young, chief investment officer at Bison Interests following Trump's tariff announcement. Trump has also threatened to impose secondary tariffs on Russian oil, and on Monday he toughened sanctions on Iran as part of his administration's "maximum pressure" campaign to cut its exports. Adding to the complex global supply picture, Russia, the world's second-largest oil exporter, on Wednesday imposed restrictions on another major oil export route, suspending a mooring at the Black Sea port of Novorossiisk a day after restricting loadings from a key Caspian pipeline. Russia produces about 9 million barrels of oil a day, or just under a tenth of global production. Its ports also ship oil from neighbouring Kazakhstan. Meanwhile, investors on Wednesday shrugged off mostly bearish U.S. government crude inventory data. U.S. crude inventories posted a surprisingly large build of about 6.2 million barrels last week, Energy Information Administration data showed. "The report was bearish in my view, with larger crude inventories and total petroleum inventories rising," UBS analyst Giovanni Staunovo said. "But the market took it as neutral, as the crude build is driven by a sharp increase in Canadian crude imports, likely ahead of the fear of the introduction of new tariffs."

Oil Prices Crash 7% on Trump Tariffs, OPEC Ramp-Up -- The price of WTI crude oil dropped more than 7% on Thursday as President Donald Trump’s Liberation Day tariffs blitzed markets and OPEC+ threw an unexpected production curveball. At 10:38 a.m. in New York, Brent crude was trading at $70.21—a 6.32% slide—while WTI sat at $66.80, down nearly 7%. The double whammy came as OPEC+ dropped a surprise output hike and Trump lit a fresh round of tariffs aimed at leveling the playing field with other countries. Eight OPEC+ nations announced Thursday they’ll raise output by 411,000 bpd in May—triple the anticipated monthly increase. The move, described as a response to “healthy market fundamentals,” is part of a broader unwind of 2.2 million bpd in cuts that began this month. Still, traders weren’t expecting this much this soon, and prices show it. The production news alone may have dinged oil a couple of bucks, but it was Trump’s tariff fireworks that made the loudest bang. Markets reeled after the White House slapped new levies on foreign goods, with the S&P 500 down over 4% intraday. While billed as a push for fairer trade, investors worried it might knock global demand off balance—especially for crude. Still, this isn’t full-blown panic. OPEC+ reminded everyone that these hikes are subject to change, with the usual backdoor option to pause or reverse if the market sours. They also committed to offset any overproduction since January and will reconvene on May 5 to talk June levels. Crude oil prices are getting smacked around today, but given the market’s hair-trigger temperament lately, this may just be a temporary case of geopolitical whiplash rather than a full-blown reversal.

Eight OPEC+ producers accelerate crude oil output hikes, pushing oil prices 6% lower -- Eight key OPEC+ producers on Thursday agreed to raise combined crude oil output by 411,000 barrels per day, speeding up the pace of their scheduled hikes and pushing down oil prices. The Ice Brent contract with June delivery was trading at $70.50 per barrel at 1:32 p.m. London time (8:32 a.m. ET), down 5.94% from the Wednesday close. The front-month May Nymex WTI contract was at $67.11 per barrel, 6.41% lower. Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually to review global market conditions and decided to raise collective output by 411,000 barrels per day, starting in May. The group was widely expected to implement an increase of just under 140,000 barrels per day next month. The May hike agreed on Thursday is "equivalent to three monthly increments," OPEC said in a statement, adding that "the gradual increases may be paused or reversed subject to evolving market conditions." The eight OPEC+ producers this month started gradually unwinding 2.2 million barrels per day of voluntary cuts undertaken independently from the production strategy of the broader 22-member OPEC+ alliance, which has roughly 3.66 million barrels per day of separate cuts in place until the end of 2026. The Thursday meeting was the first one attended by Erlan Akkenzhenov, the new energy minister of Kazakhstan, which has struggled with producing above its assigned quota. Without referencing individual countries, OPEC said in its Thursday statement that the May output hike will "provide an opportunity for the participating countries to accelerate their compensation" by way of additional production cuts in line with overproduction. The Thursday decision was taken against the backdrop of broader market tumult triggered by sweeping tariffs on key trade partners unveiled on Wednesday by the administration of U.S. President Donald Trump, who has been simultaneously championing higher U.S. oil output.

Oil Prices Dive on Trump Tariffs and OPEC Surprise -Oil plunged the most since July 2022 after suffering a twin hit from President Donald Trump’s tariffs and an OPEC+ decision to increase output faster than previously announced. West Texas Intermediate futures plummeted 6.6% to settle below $67 a barrel, while global benchmark Brent dropped 6.4% to end the session near $70. Trump’s deluge of tariffs is creating fresh doubts about the outlook for the global economy, with levies against major crude importers such as China and India coming in more aggressive than feared. Although the administration steered away from actions that would directly affect oil markets — such as measures that would have curbed flows from Canada and Mexico — concerns that the trade war will sap global energy demand hammered prices. Hours later, the Organization of the Petroleum Exporting Countries and its allies unexpectedly said they would add more than 400,000 barrels of daily output back to the market next month. That was three times the amount the group had previously planned to revive, signaling a significant policy shift after years of supply constraints that had supported crude prices. The two moves sent shockwaves across oil markets, though potentially offer a win for Trump, who has repeatedly bemoaned high crude prices. While falling oil prices could ease inflationary pressures for central banks, they also underscore a wider concern about the outlook for growth that’s led firms across the industry to slash their forecasts in recent weeks. “The perfect bearish cocktail has been mixed in Washington and in Vienna,” . “The reciprocal tariffs on virtually every salient US trading partner justifiably raise the fears of recession and possibly stagflation. Economic and oil demand growth is adversely impacted.” The bumper output boost is a big change for OPEC+, which had previously emphasized that it could pause or reverse its planned supply hikes if needed. The group’s communications have made little reference to the idea of accelerating production increases. The policy shift follows a long period of tension within the group over certain members that have consistently flouted production limits. Kazakhstan has been a particular source of friction after it significantly exceeded its output ceiling during the startup of the expansion of its giant Tengiz oil field. Thursday’s decision is intended to put price pressure on quota cheats, while also providing them with the opportunity to make larger compensation cuts to atone for past overproduction, delegates said, asking not to be identified as the talks were private. In addition to internal issues, OPEC+ has also faced external pressure from Trump to cut the price of crude. The “OPEC news is adding insult to the injury of retaliatory tariffs,” . “Tariff news is decidedly net negative for growth, and excess supply announcement today is not helping.” The extra supply from OPEC+ could tie into another policy priority for Trump — tighter sanctions on Iran and Venezuela. The US president has pledged a maximum-pressure campaign to limit oil exports from both countries. He also threatened “secondary tariffs” on Russian shipments earlier this week. Higher supplies from other OPEC+ members could give him more leeway to restrict flows elsewhere. “We think this is to replace barrels lost from tighter US sanctions on Iran, and, possibly, also lower expectations than just recently of a Ukraine ceasefire and related western sanctions relief,”. Thursday’s huge price swings, the biggest in more than two years, are also a reminder of the type of volatility that has kept some traders on the sidelines in recent months. Some of the world’s biggest commodity trading houses last month said that while the market’s outlook was weaker, both Trump and OPEC+ were adding to the uncertainty. The eight OPEC+ countries participating in the group’s so-called voluntary cuts said they will hold monthly meetings to review market conditions, according to the group’s statement. Talks on May 5 will decide on June production levels. WTI for May delivery fell 6.6% to settle at $66.95 a barrel in New York. Brent for June settlement declined 6.4% to settle at $70.14 a barrel.

Oil prices plummet as trade war fears spark global selloff - Oil prices plunged nearly 8% on Friday, reaching their lowest levels since the pandemic-era slump of 2021, as China escalated its trade war with the United States by imposing sweeping new tariffs. The move has heightened fears of a global economic slowdown, triggering a broad selloff in financial markets and a sharp drop in crude demand expectations. The latest tariff announcement from Beijing, which includes a 34% levy on all U.S. goods starting April 10, comes in response to President Donald Trump’s aggressive trade policies. Trump had earlier raised tariffs to their highest levels in over a century, prompting retaliatory measures from multiple countries. The resulting uncertainty has sent markets into turmoil, with investors fearing that escalating trade barriers could tip the world economy into recession. Brent crude tumbled $5.55, or 7.9%, to $64.59 a barrel, while U.S. West Texas Intermediate (WTI) crude sank $5.87, or 8.8%, to $61.04. Both benchmarks hit four-year lows earlier in the session, and are on track for their largest weekly declines in over two years. With the oil market highly sensitive to global economic trends, concerns over falling demand have put further pressure on prices. The selloff was exacerbated by a decision from the Organization of the Petroleum Exporting Countries and its allies (OPEC+) to accelerate planned production increases. The cartel now aims to return 411,000 barrels per day to the market in May, significantly higher than the previously planned 135,000 barrels per day. Additionally, the Caspian Pipeline Consortium (CPC) secured a court ruling allowing its Black Sea export terminal to continue operations, reducing fears of a supply disruption from Kazakhstan. Major financial institutions are now bracing for a global economic downturn. JPMorgan has increased its estimated likelihood of a recession by year-end to 60% from 40%, citing heightened risks from trade tensions and falling oil demand. Goldman Sachs responded by cutting its December 2025 price targets for Brent and WTI by $5 each to $66 and $62 per barrel, respectively, while HSBC lowered its 2025 oil demand growth forecast from 1 million barrels per day to 0.9 million. Despite exempting oil and gas imports from the latest tariff measures, Trump’s policies are expected to fuel inflation and slow global growth, adding further uncertainty to energy markets. With recession fears mounting and OPEC+ ramping up production, analysts warn that the downward trend in oil prices could persist, placing additional strain on the broader economy.

Today’s Oil Prices Aren’t Survivable For US Producers -Oil continued its dive into Friday—Brent dropped below $66, WTI scraped $62—and if you’re thinking, hey, haven’t seen those levels since 2021, you’re not wrong. Today’s WTI prices are not sustainable for some US producers. A perfect storm began to brew late Wednesday. First came President Trump’s broadside tariff blitz—blanket duties slapped on all U.S. trading partners, sparking fears of a global trade war. Yes, energy was exempt from the tariffs. Still, investors didn’t need much convincing. Stocks plunged on Thursday, recession talk started buzzing, and oil got hammered in the crossfire. Suddenly, the demand side of the oil equation is looking very shaky. Then came the second punch: OPEC+. The cartel announced it would be adding three times the expected amount of supply starting in May. That’s not exactly what you want to hear when traders are already running scared over demand destruction. Thursday ended up being a sharp one-day drop. Friday brought even more pain. Brent crude was down 7.01% at 12:10 pm in New York, while WTI sank to $61.73—well below the breakeven point for many U.S. shale producers—$65 on average, according to the Dallas Fed’s latest survey. So, how long does this last? If tariffs stick around and slow the global economy, we could be looking at a “lower for longer” oil environment again—something the industry hasn’t had to contend with since COVID lockdowns. But it’s not all gloom. Some analysts think these tariffs are more bark than bite—an opening gambit to strong-arm trade partners into concessions. If that’s the case, oil prices may rebound quickly. Until then, buckle up. Crude is suddenly in crisis mode, and the usual safety nets—OPEC+ cuts, Asian demand, U.S. shale restraint—aren’t doing the job.

Crude Oil Prices Plunge 7% as China Imposes Tariffs on US Imports -- Crude oil prices plunged by 7 per cent on Friday as China ramped up tariffs on US imports, escalating a trade war that has led investors to believe a recession is near. This brought down the price of Brent crude by $4.56 or 6.5 per cent to sell at $65.58 per barrel and the US West Texas Intermediate (WTI) crude lost $4.96 or 7.4 per cent to end at $61.99 per barrel. For the week, Brent was down by 10.9 per cent, its biggest weekly loss in percentage terms in a year and a half, while WTI posted its biggest decline in two years with a drop of 10.6 per cent. As a result of this, prices slipped to their lowest level in almost four years Friday. China said on Friday that it will impose a 34 per cent tariff on all US imports from April 10, in a response to US President Donald Trump levying 34 per cent duties on Chinese imports as part of a wider spree on 180 countries. Retaliation from nations around the world could hurt economic growth and demand for key commodities such as crude oil and refined products. China, the world’s largest oil importer, also imposed export controls on several rare earth elements — crucial for advanced technologies and almost exclusively mined in China — and banned Chinese firms from selling components to an additional 11 American companies. Market analysts warned that China’s retaliatory measures have boosted fears of a global recession. JP Morgan raised the probability of a US and global recession by year end to 60 per cent on Friday, forecasting that the effects of President Trump’s levies are “likely to be magnified through retaliation, a slide in US business sentiment and supply chain disruptions.” On its part, Goldman Sachs analysts cuts their 2025 targets for Brent and WTI by $5 each to $66 and $62 respectively. Further pressuring oil prices, the Organisation of the Petroleum Exporting Countries and allies (OPEC+) decided to advance plans for output increases. The group now aims to return 411,000 barrels per day to the market in May, up from the previously planned 135,000 barrels per day.

Oil Prices Drop 7% To Four-Year Low As Tariff Fallout Sparks Recession Fears - Oil prices sunk 7% to a four-year low Friday, amid concerns economic fallout of President Donald Trump’s wide-reaching tariffs could put a drag on demand. Prices tumbled after China announced it would retaliate against the U.S. in a global trade war—imposing a 34% tariffs on U.S. goods, in line with Trump’s new 34% tariffs against China—with analysts saying traders were likely acting on the damage tariffs could do to global trade and economic growth.Concerns of a tariff-induced drop in demand comes as the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, announced it is increasing output to 411,000 barrels per day in May, up from the previously planned 135,000 barrels per day, the organization said in a statement. Brent crude, the benchmark for global oil prices, dropped $4.57 to $65.56 a barrel and U.S. West Texas Intermediate was down $5 to $62 a barrel as of Friday afternoon. Since Wednesday’s market close ahead of Trump’s tariff announcement, the price of Brent crude has dropped nearly 13% and WTI decreased 14%. While crude oil prices do impact how much drivers pay at the pump, gas prices are also influenced by refinery and distribution costs, taxes and corporate profits, so it’s unclear exactly how an oil sell-off will affect consumers. The national average price for a gallon of regular gasoline is $3.27, up from $3.10 a month ago but down from $3.57 last year, according to AAA data. Goldman Sachs lowered its crude oil price forecasts late Thursday night, citing weakened demand, tariff escalation, growing recession risks and increased supply. The firm downgraded its Dec. 25 price forecasts of Brent and WTI to $66 and $62, respectively. Fuel was exempt from the sweeping tariffs announced Wednesday, but Trump has touted higher energy production and lower prices as a way to lower the inflation rate, which remains above the Federal Reserve’s 2% target. "The trade war escalated, recession fears rise and consequently oil demand growth is to take a sizeable hit,” . “The fact that U.S. energy imports are exempted, and OPEC+ produced a bombshell by re-adding more oil in May than originally planned pours fuel to the bear's fire. Volatility will persist, risk is off, and currently it is impossible to foretell when appetite for oil and equities will return.”The drop in oil prices comes as global leaders are reacting to the wide array of “reciprocal tariffs” levied by Trump on more than 180 countries, which includes baseline 10% tariffs for all. On Friday, Chinese state media announced it will impose an additional 34% import duty on U.S. goods in retaliation against Trump’s 34% tariff on Chinese goods (on top of existing tariffs, bringing the actual rate to 54%).

Large Overnight Israeli Airstrike On Beirut Kills Hezbollah Official & Bystanders - Just before 4am local time, while much of the city was sleeping, Beirut was pounded by another large-scale Israeli airstrike, reportedly targeting a Hezbollah official who was among four killed in the attack. A woman was slain in the attack too, according to Lebanese health authorities. Top floors of a multi-story building were decimated in the strikes on a southern suburb of Beirut. It reportedly killed the following, identified in AFP: A source close to Hezbollah, requesting anonymity as they were not authorized to brief the media, told AFP the strike killed Hassan Bdair, Hezbollah's "deputy head for the Palestinian file" who was "at home with his family." While Al Mayadeen has described Bdair as a rank and file Hezbollah member, other regional sources have indicated he was a member of Hezbollah's Unit 3900 as well as the Quds Force of Iran's Islamic Revolutionary Guard Corps (IRGC). The Israeli army subsequently said Tuesday that fighter jets "attacked a Hezbollah terrorist in the Dahiye area of Beirut who had recently been directing Hamas operatives and had assisted them in attempting to carry out a serious attack against Israeli civilians in the immediate future." "We couldn't see each other because of all the dust," one eyewitness who lives across the street from the destroyed building told AFP, describing "a very big explosion," followed by another. "Not just one person is targeted — everyone in the country, from young to old has become the target," another nearby Lebanese resident said.

Growing Network of Israeli Outposts in Syria, Lebanon Suggest IDF Is Planning a Long Stay - Much was made about the five hilltop surveillance posts Israel hastily assembled before the deadline to withdraw from Lebanon, outposts which they ultimately retained to this day and which seem more or less permanent. Israel isn’t done expanding their military presence beyond their own border though.The “temporary” outposts are being thrown up around the frontierbetween the Israeli occupied Golan Heights and the also the currently Israeli occupied parts of southwestern Syria. Israel invaded Syria in December, after the regime change, and presented it at the time as a semi short-term measure for security’s sake.Earlier this month though DM Israel Katz indicated the intention is to remain inside Syria for “an unlimited time,” which came along with threats against Syrian forces if they attempt to resist the incursion, which so far they have not.The outposts in Syria, for instance, aren’t merely hilltop islands of Israeli control like in Lebanon, but are being surrounded by military infrastructure, including watchtowers, roads, and prefab housing suggesting this is far from a temporary stay.Israel has provided next to no transparency about what they’re doing in Syria, and the only reason so much is known is because satellite images are showing the intensive construction operations they are carrying out.

Israeli military kills and bulldozes 15 Palestinian aid workers in drive to finish ethnic cleansing of Gaza – Exposure of the barbarity of the US-backed Israeli genocide in Gaza reached a new level with the recovery of the bodies of 15 emergency and aid workers from the Palestinian Red Crescent Society (PRCS), Palestinian Civil Defense and the United Nations from a grave in the sand south of the Gaza Strip over the weekend. On Monday, Palestinians held funerals for the medics and emergency responders, who were hunted down and killed by Israeli troops and buried in a mass grave in a blatant violation of international law. The dead included eight PRCS workers, six members of Gaza’s Civil Defense emergency unit, and a staffer from the United Nations Relief and Works Agency for Palestinians (UNRWA). According to a report by the Associated Press, the dead bodies and ambulances of the aid workers were gathered, buried and then plowed over by Israeli military bulldozers. The AP report also said video footage released by the UN showed “workers from PRCS and Civil Defense, wearing masks and bright orange vests, digging through hills of dirt that appeared to have been piled up by Israeli bulldozers.” The AP report went on: The footage shows them digging out multiple bodies wearing orange emergency vests. Some of the bodies are found piled on top of each other. At one point, they pull out a body in a Civil Defense vest out of the dirt, and it is revealed to be a torso with no legs. Several ambulances and a UN vehicle, all heavily damaged or torn apart, are also buried in the dirt. Jonathan Whittall of the United Nations Office for the Coordination of Humanitarian Affairs (OCHA) said in a video: Their bodies were gathered and buried in this mass grave. We’re digging them out in their uniforms, with their gloves on. They were here to save lives. It’s absolute horror what has happened here. Another OCHA spokesperson responded to questions from Reuters about how the burial site resembled a large mound of sand, which was “clearly created by a bulldozer or similar machinery rather than the impact of a blast.” The spokesperson said: the available information indicates that the first team was killed by Israeli forces on March 23 and that other emergency and aid crews were struck one after another over several hours as they searched for their missing colleagues. The Palestinian rescue teams had been missing since March 23, when they departed around noon to retrieve casualties after Israeli forces launched an offensive into the Tel al-Sultan district of the southern city of Rafah. The Zionist military had demanded an evacuation of the area earlier that day, saying Hamas militants were operating there, while knowing full well that there was not enough time for civilians to leave and avoid the Israeli onslaught. Alerts at the time said displaced Palestinians sheltering in the area had been hit, and a team that went to rescue them was “surrounded by Israeli troops.” According to a UN statement on Sunday night, “The available information indicates that the first team was killed by Israeli forces on March 23.” Additional emergency teams that went to rescue the first team were “struck one after another over several hours,” the UN said. The murderous campaign against aid workers took place as the Israeli forces attacked the Tel al-Sultan neighborhood in Rafah, the southernmost city of Gaza. The sky over the area glowed red from Israeli shelling as tanks advanced from all directions, and warplanes rained down missiles without mercy. According to official Palestinian estimates, over 5,000 Palestinians were trapped beneath the air and ground assault.

Israeli Strikes on Gaza Kill More Than 100 in a Single Day - (Warning: Graphic footage below) US-backed Israeli attacks on Gaza on Thursday killed more than 100 Palestinians, medical sources told Al Jazeera, as relentless strikes pounded areas across the Strip.Attacks on Thursday included the bombing of a school-turned-shelter for displaced Palestinian civilians in Gaza City. According to the Anadolu Agency, at least 29 people were killed in the strike. Footage of the aftermath of the attack shows dead and wounded children. Footage of the aftermath of the Israeli strike on the Sar al-Arqam School in Gaza City (from the Anadolu Agency via Reuters Connect)Gaza’s Government Media Office said the dead included 18 children, women, and elderly people, and more than 100 were wounded. “The occupation has committed a new massacre against displaced persons by bombing Dar al-Arqam School in Gaza City,” the Media Office said in a statement.Al Jazeera reported later in the day that the same school was bombed again while rescue workers were still at the scene. “This new attack will likely increase the number of casualties. We are awaiting further updates from the scene,” said Al Jazeera reporter Hani Mahmoud.Other Israeli attacks on Thursday included the bombing of al-Mawasi, a tent camp that the Israeli military just ordered Palestinians in Rafah to flee to. Eyewitnesses told Middle East Eye that an Israeli strike targeted a building surrounded by tents in al-Mawasi in the middle of the night, killing at least seven people, including women and children.The day of ramped-up Israeli attacks came after Israeli officials announcedthe Israeli military would be expanding its ground assault to seize more territory in southern Gaza, although Thursday’s strikes were very heavy in northern Gaza, with 58 reported killed in Gaza City. The IDF is alsoconducting a ground assault on eastern Gaza City. Gaza’s Health Ministry said on Thursday that since Israel restarted its genocidal war on March 18, which it did with full US support, at least 1,163 Palestinians have been killed, and 2,735 have been wounded.

Israel Ramps Up Assault on Gaza To Seize 'Extensive Territory' and 'Divide' the Strip - The Israeli military on Wednesday ramped up its ground assault and strikes on Gaza as Israeli officials announced plans to take over more land in the Palestinian territory.Israeli Defense Minister Israel Katz said the IDF was expanding operationsin Gaza to clear “terrorists and infrastructure and capture extensive territory that will be added to the State of Israel’s security areas.”Later in the day, Israeli Prime Minister Benjamin Netanyahu said the Israeli military would seize the “Morag axis,” using the name of an Israeli settlement that once existed in the area to describe the territory between the southern Gaza cities of Rafah and Khan Younis. According to Haaretz, the Israeli military said the purpose of the operation is to encircle Rafah.Netanyahu said the territory would serve as a “second” Philadelphi Corridor, referring to the strip of land on the Gaza-Egypt border that Israel has occupied since May 2024. “Because we are currently dividing up the strip, we are adding pressure step by step so that our hostages will be given to us,” Netanyahu said.The ramped-up assault on southern Gaza comes two days after the Israeli military ordered the forced evacuation of the entire city of Rafah and nearby areas.Medical officials told Al Jazeera that at least 77 Palestinians were killed by Israeli attacks on Wednesday. One Israeli attack in Khan Younis killed 12 displaced Palestinians, all members of the same family. Another strike on a UN-run clinic in northern Gaza killed 22 people, including nine children.Before the latest Israeli escalations, Netanyahu warned he would increase the “pressure on Hamas” and said his long-term plan for Gaza was Hamas disarming, its leaders being expelled, Israel taking complete control of Gaza, and the implementation of President Trump’s ethnic cleansing plan, which he calls “voluntary migration.”Gaza remains under a total Israeli blockade, which was first implemented on March 2 and forced all bakeries in the Strip to close on Tuesday due to the lack of food supplies and fuel. The US has been fully supportive of Israel’s collective punishment of the civilian population of Gaza.

Israeli Official: Palestinians Will Be Removed From Gaza After Hamas Eliminated -An Israeli official made it clear that Tel Aviv plans to expel the Palestinians from Gaza after the hostages are freed and Hamas is eliminated. Throughout the conflict, the Israeli Prime Minister publicly claimed the goals of military operations in Gaza were returning Israeli captives and removing Hamas from power.According to Haaretz, a senior Israeli official who is traveling with Prime Minister Benjamin Netanyahu explained, “What we would like to see is that we rescue the hostages, eliminate Hamas, and that there is a large-scale opportunity for voluntary migration.”Israeli officials have used the phrase “voluntary migration” to describe Tel Aviv’s process of removing all Palestinians from Gaza. After President Donald Trump returned to office, he declared that all Palestinians should be removed from Gaza and resettled in other countries.Since October 7, 2023, Prime Minister Netanyahu has said his war aims were only to eliminate Hamas and return the hostages, denying that Israel’s objective was genocide.

"Free Gaza From Hamas" Really Means "Free Gaza From All Palestinians" Caitlin Johnstone - Israeli Prime Minister Benjamin Netanyahu continues to insist that Israel will carry out Trump’s ethnic cleansing plans for Gaza, saying the following on Sunday about “the final stage” of his agenda:“Hamas will lay down its weapons. Its leaders will be allowed to leave. We will see to the general security in the Gaza Strip and will allow the realization of the Trump plan for voluntary migration. This is the plan. We are not hiding this and are ready to discuss it at any time.” Netanyahu’s suggestion that Trump’s plan for the migration of Palestinians out of Gaza would be “voluntary” is misleading in two separate ways.Firstly, it is nonsensical to deliberately and systematically make a placeuninhabitable and then claim that anyone who leaves that place would be leaving voluntarily. Israeli spinmeisters have been pushing this narrative since the early days of the onslaught, and it’s transparently bogus; telling people they can leave or starve to death is exactly the same as forcing them out at gunpoint.Secondly, Trump’s plan for the ethnic cleansing of Gaza is not “voluntary” on its face. Trump has explicitly said “all” Palestinians are to be removed from the enclave and would not be allowed to return, which of course necessarily means that anyone who wants to stay will not be permitted to. Netanyahu says he wants to realize Trump’s plan, and Trump’s plan is forcible ethnic cleansing.A Knesset member from Netanyahu’s Likud party named Amit Halevi was just on Israeli radio saying that the plan is “to occupy the territory to cleanse it of the enemy,” adding that Israel needs “to return to Gaza permanently and control this space, because it is part of our homeland.”I mean, how much more explicit do they need to be?When Israel apologists respond to chants of “Free Gaza” with “Free Gaza from Hamas,” what they really mean is “Free Gaza from all Palestinians.” The agenda they are cheerleading has ultimately nothing to do with Hamas — it’s about purging a Palestinian territory of Palestinians and replacing them with Israeli Jews. It’s yet another Israeli land grab and yet another drive to eliminate Palestinians from their historic homeland.If this was really about freeing Palestinians from Hamas, then why is Israel also seizing on this political moment to advance ethnic cleansing agendas in the West Bank, where Hamas does not govern? Defense Minister Israel Katz is on record saying of the occupied West Bank that “We must deal with the threat just as we deal with the terrorist infrastructure in Gaza,” and the Gaza playbook is being increasingly utilized there. Tens of thousands have been displaced as the Jenin refugee camp has been made uninhabitable under an aggressive Israeli bombing campaign, with hundreds of homes actively destroyed — not to combat Hamas, but to get rid of the Palestinians. Because that’s all this has ever been about.

The King: The Region Will Not Enjoy Peace or Stability Without a Just Solution to the Palestinian Issue - His Majesty King Abdullah II discussed, during a phone call with Albanian Prime Minister Edi Rama on Tuesday, the latest developments in the region. His Majesty emphasized the importance of intensifying international efforts to push for an immediate halt to Israeli attacks on Gaza, restoring the ceasefire in all its stages, and resuming the delivery of humanitarian aid to those affected. The King reiterated that the region will not enjoy peace or stability without a just and comprehensive solution to the Palestinian issue, based on the two-state solution that fulfills the legitimate rights of the Palestinians. The phone call also addressed the bilateral relations between Jordan and Albania, and ways to enhance cooperation between the two countries in various fields.

Death toll in Russian missile strike in central Ukraine reaches 18 (AP) — The death toll from a Russian missile strike in the central Ukrainian city of Kryvyi Rih has risen to 18, including nine children, regional governor Serhii Lysak said Saturday. A further 61 people were injured in Friday’s attack, ranging from a 3-month-old baby to elderly residents. Forty remain hospitalized, including two children in critical condition and 17 in serious condition. “There can never be forgiveness for this,” said Oleksandr Vilkul, head of the city’s defense council. “Eternal memory to the victims.” Kryvyi Rih is the hometown of Ukrainian President Volodymyr Zelenskyy. “The missile struck an area right next to residential buildings — hitting a playground and ordinary streets,” Zelenskyy wrote on Telegram. Local authorities said the strike damaged about 20 apartment buildings, more than 30 vehicles, an educational building and a restaurant. The Russian Defense Ministry claimed Friday that it had carried out a high-precision missile strike with a high explosive warhead on a restaurant where a meeting with unit commanders and Western instructors was taking place. Russian military claimed that the strike killed 85 military personnel and foreign officers and destroyed 20 vehicles. The military’s claims could not be independently verified. The Ukrainian General Staff rejected the claims. A later drone strike on Kryvyi Rih killed one woman and wounded seven other people. Zelenskyy blamed the daily strikes on Russia’s unwillingness to end the war: “Every missile, every drone strike proves Russia wants only war," he said, urging Ukraine’s allies to increase pressure on Moscow and bolster Ukraine’s air defenses. “The United States, Europe, and the rest of the world have enough power to make Russia abandon terror and war,” he said. Russian forces launched 92 drones into Ukraine overnight, with 51 shot down by air defenses, the Ukrainian air force wrote on social media Saturday. A further 31 decoy drones also failed to reach their targets, it said.