With WTI and Brent crude prices trading in the mid-80s and OPEC+ failing to deliver planned supply hikes, talk of a release from the U.S. Strategic Petroleum Reserve (SPR) is getting louder and louder. While we think triple-digit prices are a low probability event (not to mention highly unsustainable), and

The Permian basin has gone through a prolific growth period since the shale boom began last decade. Permian basin natural gas production has almost grown 400% from late 2012 to mid-2021, surging from 4.5 Bcf/d in 4Q12 to 18 Bcf/d in 2Q21. During that time, new entrants (in the upstream

Closure of ERCOT coal electricity generation capacity is only a matter of timing due to a confluence of economic and social trends. Despite a temporary recovery in 2021 coal generation (thanks to soaring gas prices), we expect the most polluting electricity generation source to become increasingly uncompetitive compared to natural

Tight U.S. natural gas supply-demand balances have generated renewed interest in natural gas storage assets among end-users, marketers/traders, operators, developers, and the financial community. After almost a decade of lackluster performance for natural gas assets, the midstream community is taking a second look at natural gas storage assets that thrive

With commodities and goods such as coal, LNG, and computer chips commanding eye-popping prices, Bank of America analysts are predicting a return to triple-digit crude oil prices this winter. While we do not rule out that crude prices will flirt with $100/barrel sometime this winter, we regard this development as

It’s boom times for LNG markets. The forward strip is showing JKM winter 2021/2022 spot prices exceeding $40/MMBtu, a more than 700% increase from the 2019/2020 winter. Indeed, global gas markets are currently experiencing a near-perfect storm: demand is rising; the sector has faced underinvestment for years; wind production disappointed