The new fund aims to create national leaders in energy and energy-related technologies
Jada Fund of Funds, wholly owned by the Public Investment Fund (PIF), has become the anchor investor of Saudi Arabia-based Energy Capital Group’s (ECG) new fund. The new fund has been formed with a merger between ECG and Cayan Holdings. ECG and Cayan Holdings led multiple private equity funds, which invested in regional & global […]
The company's net income rose 158% year-on-year in Q3 2021
Aramco’s net income for Q3 2021 rose 158% year-on-year (yoy) to $30.4 billion and the company declared a dividend of $18.8 billion to be paid in the fourth quarter. The increase in net income was primarily the result of higher crude oil prices and volumes sold and stronger refining and chemicals margins in Q3, which […]
Gas markets, which have been rising for weeks, are now entering a more balanced phase as a result of spot market cautiousness and tightening fundamentals
The marginal decline of Asian spot LNG prices since last week was caused by more cautious Chinese buyers, who have largely retreated from the spot market given forbiddingly high prices. However, prices didn’t have to dive deep as the decline in spot purchases was balanced by new reported supply disruptions – most recently from Bontang […]
Oil prices fell today on API’s report of a surprise build in US inventories last week
With OPEC+ reluctant to act and increase supply further amid the market tightness, the only downside to oil prices could come from inventory data this week – and that’s exactly what moved markets today. While it does not reverse the overall bullish momentum going forward, the latest forecast by the API on swelling US crude […]
Oil prices continue to gain this week as global fuel supply tightness seems to fail to meet the needs of the growing energy demand, with more upside anticipated going forward
The global energy supply crunch continues to show its teeth, as oil prices extend their upward march this week, a result of traders pricing in the ongoing rise in fuel demand – which amid limited supply response is depleting global stockpiles.  The relative calamity of Covid-19 and return to normalized mobility amid an energy […]
Oil prices returned to gains on Friday as profit taking gave turn to the reality of supply and storage market concerns
Yesterday may have been a day of  profit taking by the most impatient market participants but in tight market conditions that doesn’t last and supply tightness – in conjunction with falling storage levels – helped prices rise again. The upside risk to oil prices is real in the very near-term as there is little incentive […]
Oil prices rose in early trading hours as US stocks surprisingly fell further, but gains were overturned as traders seem to think it’s a good time to cash in
While the oil market expected crude inventories to finally rise, the EIA report of yet another draw last week helped prices rise even further in early trading, with Brent stunningly hitting a new high in years. The storage level of crude oil is the lowest in years in the largest US hub and that caused […]
The month-long run-up in commodity prices shows no sign of easing with the main engine continuing to be the global energy crisis and its direct impact on other sectors, not least the energy-intensive industrial metal sector. Shortages of fuel leading to record-high prices has forced reductions in metal production from China to Europe, thereby exacerbating […]
Oil prices declined today as traders are pricing in an expected build in US crude oil stocks and China’s intent to lower coal prices
Traders are today pricing in the first bearish developments for the oil market in a while, the expected build in US crude stocks and China’s intent to normalize coal prices – which in turn will limit coal to oil switch for power generation. Prices are declining today and the depth of the dive will very […]
Oil prices continue their ascent as the global energy supply crunch intensifies and cold weather starts to add weight on the market
The global energy supply crunch and cold weather in the Northern Hemisphere are helping oil prices continue their stunning rally for yet another week. The crunch is not only limited to main fuels for electricity production such as gas and coal, but also extends to oil supply. While it is still unsure just how transitory […]
