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WTI Holds Gains Despite Huge Crude Build; Production Hits Record High As Cushing ‘Tank Bottoms’ Loom | ZeroHedge

Oil prices are rebounding this morning, having perfectly filled the gap from Sunday's post-Israel-attack jump, after OPEC data continue to point to a record supply deficit this quarter, as demand climbs to an all-time high and group leader Saudi Arabia curbs output.

As Bloomberg reports, global oil inventories are on track to decline by about 3 million barrels a day in the final three months of the year, according to figures in the latest report from the Organization of Petroleum (more…)

Continue ReadingWTI Holds Gains Despite Huge Crude Build; Production Hits Record High As Cushing ‘Tank Bottoms’ Loom | ZeroHedge
Read more about the article Where Does The EU’s Gas Come From? | ZeroHedge

Where Does The EU’s Gas Come From? | ZeroHedge

Russia's invasion of Ukraine and Moscow's "weaponization" of energy have placed the diversification of energy supplies high on the agenda of European countries.

However, as Statista's Martin Armstrong reports, although this remains a long and costly process, requiring investment in infrastructure (new pipelines, LNG terminals, etc.), the results are already (more…)

Continue ReadingWhere Does The EU’s Gas Come From? | ZeroHedge

EU’s Full Gas Storage Doesn’t Eliminate Supply Risks | ZeroHedge

Authored by Irina Slav via OilPrice.com,

  • EU storage facilities are filled near capacity levels.

  • Demand for gas in the European Union has declined by between 10% and 15% over the past 12 months.

  • Interestingly, gas prices in Europe are currently higher than they were when the Chevron workers started striking in September.

The European Union has accumulated record amounts of natural gas in its storage facilities and has done so ahead of its own schedule. (more…)

Continue ReadingEU’s Full Gas Storage Doesn’t Eliminate Supply Risks | ZeroHedge