ENERGY

By Tsvetana Paraskova of OilPrice.com

Denmark is dropping the investigation over what it described as a “deliberate sabotage” of the Nord Stream gas pipelines in 2022, due to insufficient grounds to pursue a criminal case, the Copenhagen police said on Monday.

Gas leaks in each of the Nord Stream 1 and 2 pipelines were discovered at the end of September 2022 from the infrastructure just outside Swedish and Danish territorial waters in the Baltic Sea.  

Nord (more…)

By Charles Kennedy of OilPrice.com

The Federal Energy Regulatory Commission (FERC) has granted Native American tribes more power to block hydropower projects on their lands if they oppose the plans.  

FERC has previously applied the general policy of granting permits to planned hydropower projects even where Tribes have raised issues over the impact of such projects, which require enormous amounts of water in areas such as the Southwest, where water is scarce.

However, (more…)

Oil prices dumped and pumped overnight but are holding gains for now ahead of the official inventory data as traders continue to weigh tightening physical supplies (Brent’s prompt spread strengthening to 95 cents in backwardation, hovering at three month highs) against pressure from higher for longer rates (weighing on the demand side).

Additionally, the ongoing tensions in the middle east are supporting prices.

After last week's huge surprise crude build (and product (more…)