Wholesale natural gas prices in Europe and the UK rose on Wednesday, driven by critically low storage levels ahead of winter and warnings from the European Central Bank about energy-fueled inflation.
The Norwegian energy major plans to expand its liquefied natural gas portfolio to 10-15 million metric tons per year to meet growing demand in Europe and Asia, diversifying its supply sources with a significant focus on U.S. exports.
The head of the Japan Gas Association has voiced support for a new government agreement with Malaysia's Petronas to secure emergency liquefied natural gas supplies, calling it a valuable step for the nation's energy security.
U.S. crude oil inventories fell modestly for the week ending Sept. 11, missing analyst forecasts, while gasoline and distillate stockpiles posted surprise builds, according to the latest EIA data.
US Soybean futures are facing a critical test at the $1,293 support level, with a potential break threatening to confirm a short-term bearish reversal. Technical indicators show mounting pressure, though some longer-term signals offer potential support.
Iran's military warned it would retaliate against any new attack by the U.S. and its allies, escalating tensions after Iran-backed Houthi rebels claimed strikes on Saudi Arabian oil infrastructure.
Chicago wheat futures edged lower on Wednesday, pressured by technical selling linked to a downturn in crude oil prices, though losses were limited by ongoing global supply concerns.
Raw sugar futures edged lower as a drop in crude oil prices made ethanol production less profitable, incentivizing mills to produce more sugar. However, prices found support from forecasts of lower crop yields in key producing regions.
U.S.-based Continental Resources has entered a preliminary agreement with Venezuela's state-owned oil company, PDVSA, to jointly develop a block in the Orinoco Heavy Oil Belt estimated to hold 30 billion barrels of oil.
