EklipX Research

🚨News: The Sudzha gas metering station in Russia's Kursk Oblast is on fire after a series of explosions Explosions struck the Sudzha gas metering station in Russia's Kursk Oblast on the night of March 21, followed by a large fire, according to Russian media and Telegram channels. Footage allegedly showing the station in flames after the attack has been circulating online. Russian sources explains the fire was visible from the border between the Kursk and Sumy regions. Read More: https://lnkd.in/eJQfezbi

🚨Asia LNG Weekly Briefing Northeast Asia’s LNG market remains under pressure as weak Asian demand and robust global supply keep prices subdued at $13.40/MMBtu. ✔️ While Japan’s LNG imports stay within the historical range, a recent decline signals slower procurement, and gas-for-power storage has fallen to its lowest level this year, increasing the likelihood of additional spot purchases. ✔️ Meanwhile, South Korea’s LNG imports have dipped, though they remain within typical seasonal patterns, with colder-than-expected weather prompting short-term demand. Find the full Market Analysis & Outlook: https://lnkd.in/e6hrrUzM Written by InHedge

🚨Second Edition of the EUA Option Analytics - March 19th, 2025 This is an options position market analysis on the EUA Carbon market aimed at understanding current market dynamics and providing insights to market participants. By examining the traded strategies, we assess sentiment shifts, positioning, and what traders are anticipating in the EUA options market 🪄 To know what the options on EUA are telling us - check out the report below - it's free: https://lnkd.in/gvKqJJ9y

🚨U.S. Natural Gas Weekly - Focus on Supply & Demand The U.S. natural gas market continues to experience tightening conditions as inventories remain below historical levels. ✔️ Storage utilization stands at 40%, reflecting persistent deficits despite slowing withdrawals due to milder weather. ✔️ Production remains stable at 104.72 Bcf/d, while LNG exports hit record highs at 439.80 Mcm/d, reinforcing strong global demand, particularly from Europe. With 74 LNG vessel departures recorded so far in March, the U.S. remains a critical player in the global energy supply chain. As the injection season approaches, storage replenishment rates and supply dynamics will play a key role in shaping price movements. Read More: https://lnkd.in/ebVcttAk Written by InHedge What are your thoughts on the US Nat Gas market? 👇

COLUMN: A tactical retreat: Mark Carney axes Canada's consumer carbon tax In a decisive first act as Prime Minister, Mark Carney has scrapped Canada’s consumer carbon tax, a policy that had become a political battleground despite its minimal impact on inflation. While this move eliminates a key election issue, it now shifts the pressure onto other climate policies like the Large-Emitter Trading System (LETS) and potential new measures such as a carbon border levy. Will Carney’s strategy strengthen Canada’s climate approach, or will it leave gaps in emissions reductions? And what lessons does this hold for Europe as it prepares for its own carbon pricing reforms? Dive in to explore the implications of this bold policy shift 👇 Read More: https://lnkd.in/eJaK8myB Written by Peter Sainsbury 🏭

🚨 End Of Day - European Gas Mar18, 2025 - Our analysis of the Putin-Trump talks and the anticipated market impact for tomorrow 👇 ✔️ The announcement of a temporary pause in attacks on Ukrainian energy assets reduces immediate geopolitical risk premiums in European gas markets. ✔️ Traders who had been pricing in the risk of further disruptions to Ukrainian transit flows may unwind some of those risk premiums - however, it is our view that this has been priced in already in recent weeks. ✔️ Given that this is not a full ceasefire, the reaction may be measured. We are still far from a broader peace agreement, so the market will remain cautious. It is, however, clear that in the very short term, we will not see more Russian Gas in Europe - before a full and comprehensive peace agreement. Other News: State energy company Naftogaz has signed an agreement with Poland’s Orlen to purchase 100 million cubic meters of LNG from the United States. Read More (Free access): https://lnkd.in/en5kQRHi What's your market view? Comment below👇

🚨 The Impact of 🇺🇸U.S. Tariff Policy on 🇨🇦Canadian Heavy Crude Prices The pricing dynamics of 🇨🇦Canadian heavy crude have undergone a significant shift in recent months. Following initial threats of tariffs on Canadian crude imports, market participants reacted by widening the geographic price differential, reflecting heightened uncertainty. However, recent exemptions under the USMCA and indications of broader exclusions have reversed this trend, bringing Canadian crude pricing back in line with pre-tariff expectations. This analysis explores how tariff-related risks have influenced Western 🇨🇦Canadian Select (WCS) pricing, how the market has adjusted to evolving policy developments, and what factors—including pipeline capacity—will shape Canadian crude differentials moving forward. Read More 𝘊𝘢𝘯𝘢𝘥𝘪𝘢𝘯 𝘊𝘳𝘶𝘥𝘦 𝘋𝘳𝘰𝘱𝘴 𝘛𝘢𝘳𝘪𝘧𝘧 𝘋𝘪𝘴𝘤𝘰𝘶𝘯𝘵: https://lnkd.in/efP6cbG9 Written by Rory Johnston Commodity Context

🚨Russia’s Gas Outlook: Strategic LNG Expansion and the Asia Pivot The latest GECF Gas Outlook presents an optimistic view of Russia’s gas sector, reinforcing its dominant role in global markets while emphasizing LNG as a strategic priority. 🔹 Shift to Asia: Russia continues to expand its pipeline network, with Power of Siberia-2 (50 bcma) strengthening gas ties with China. 🔹 LNG Boom: Major projects like Arctic LNG 2 (20 Mtpa) and Ust-Luga LNG (13 Mtpa) could push Russia’s LNG capacity to 130 Mtpa by 2050, surpassing Australia. 🔹 Gas as a Pillar of Energy Strategy: The report aligns with Russia’s forthcoming Energy Strategy 2050, which prioritizes gas in both domestic and export markets. Full analysis here: https://lnkd.in/eua4dNe3 Written by Irina Mironova What are your thoughts on Russia’s long-term gas strategy?

🚨U.S. Natural Gas Market Weekly Summary & Outlook 𝗠𝗮𝗿𝗸𝗲𝘁 𝗢𝘃𝗲𝗿𝘃𝗶𝗲𝘄: ✔️Milder weather is slowing U.S. gas demand, leading to price stabilization after recent winter volatility. ✔️Henry Hub ($3.92/MMBtu) and Houston Ship Channel ($3.26/MMBtu) have settled within historical ranges but remain above 2024 levels. ✔️Waha gas prices (-$0.84/MMBtu) continue to struggle due to pipeline constraints and regional oversupply. 𝗗𝗲𝗺𝗮𝗻𝗱 & 𝗪𝗲𝗮𝘁𝗵𝗲𝗿 𝗧𝗿𝗲𝗻𝗱𝘀: ✔️Heating Degree Days (HDDs) remain elevated but show signs of seasonal decline. ✔️Short-term cooling may briefly support demand before transitioning to the injection season. 𝗪𝗲𝗮𝘁𝗵𝗲𝗿 & 𝗙𝗼𝗿𝗲𝗰𝗮𝘀𝘁𝘀: ✔️Accumulated HDDs reached 3,428°F, still at the upper end of the 2020-2024 range. ✔️Mixed heating demand forecasts: Some short-term revisions show stronger demand, but the overall trend aligns with seasonal decline. ✔️Temperature forecasts suggest early March warming, with a brief cooling trend around March 20-22. 𝗠𝗮𝗿𝗸𝗲𝘁 𝗢𝘂𝘁𝗹𝗼𝗼𝗸: 👇 To get access to the full market outlook, check out: https://lnkd.in/emYZQkCW Written by InHedge What is your view on US Natural Gas? Comment below 👇

🚨End Of Day - European Gas Mar17, 2025 Renewed selling pressure today, but a -2.50% drop could be considered a relatively quiet day in the current market. ✔️𝗕𝗲𝗮𝗿𝗶𝘀𝗵 𝗙𝗮𝗰𝘁𝗼𝗿𝘀 - Geopolitics: The market awaits key talks tomorrow. Trump will speak with Putin, who has hinted at resuming fuel shipments. Meanwhile, Germany’s economy minister firmly opposes reviving Nord Stream gas flows. ✔️𝗕𝘂𝗹𝗹𝗶𝘀𝗵 𝗙𝗮𝗰𝘁𝗼𝗿𝘀 - Storage: Ukraine’s gas reserves have hit a record low (~1 bcm). Restoring to 13 bcm before winter requires €2-2.5B in EU imports, tightening Europe's gas balance. ✔️𝗟𝗡𝗚 send out remains in line with targets, but price cuts may impact flows in the coming weeks. Tracking next month’s LNG send-out is critical as a moderate price increase may be needed to sustain required levels. .... for the rest of our analysis 👇 Check our full End of Day Report on European Gas (FREE): https://lnkd.in/ei4PBzvE