Don’t look now, but there could be danger ahead for U.S. crude. As we’ve said since the beginning of this crisis, demand is driving market outcomes, and COVID-19 is driving demand. As of this writing, COVID-19 infections are surging across the country (and globally), as new 7-day averages of U.S.

These are tough times for U.S. LNG exporters and Global LNG markets in general. Natural gas inflows to U.S. export terminals serve as a proxy for exports, but stand at only 3.9 Bcf/d, down from 9 Bcf/d in late March. Obviously, LNG exports are buffeted by the COVID-19 demand shock

Let’s rewind the clock by one year. WTI was nestled comfortably at $52/barrel, crude exports were booming, and there were over half a dozen projects intent on building export terminals capable of handling Very Large Crude Carriers (VLCCs). Today, WTI is on the wrong side of $40/barrel (and after considerable

Since we discussed NGL supply in the Permian basin last month, let’s deep dive into another key basin – the Appalachia. Covid-19 is hitting the oil and gas sector as rig counts are falling on reduced associated gas production from wet shale plays. Where does the Appalachia go? Where we’ve

With Liquefied Natural Gas (LNG) prices trading near historic lows, there’s been some chatter about whether or not a natural gas equivalent to the Organization of Petroleum Exporting Countries (OPEC) will form. Geopolitical factors alone render the formation of an Organization of Gas Exporting Countries (OGEC) extremely unlikely, while technical

Crude oil markets seem to have stabilized after oversupply in Spring, but the future appears uncertain. End-product demand has stabilized but is not recovering as quickly as some hoped, as inventories of crude products such as gasoline, jet fuel, and diesel saw builds in the week ending May 29th. Oil