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December 21 – According to sources, another oil tanker has been seized by the United States in waters near Venezuela as President Trump intensifies his oil blockade against the government of Venezuelan President Maduro. The seized tanker, the "Bella 1," is a Panamanian-flagged vessel under U.S. sanctions and was en route to Venezuela to load cargo. This interception follows the seizure of the "Century" supertanker early Saturday morning and the seizure of the "Skipper" tanker on December 10. The White House did not immediately respond to a request for comment.On December 21, local time, the Israel Defense Forces (IDF) issued a statement saying that during operations in northern Gaza that day, several suspicious individuals were spotted gathering near the Yellow Line, the ceasefire line. IDF fired warning shots, but three armed men crossed the Yellow Line and approached IDF forces, posing a "direct threat." IDF airstrikes subsequently killed them. The statement also noted that in two other separate incidents in northern Gaza, IDF forces also discovered two armed men crossing the Yellow Line and approaching soldiers. IDF airstrikes subsequently killed them.On December 21, the French presidential palace stated that it would determine the "best way" for French President Macron to hold dialogue with Russian President Putin "in the coming days." The French presidential palace welcomed Russias statement that Putin was willing to engage in dialogue with Macron, and that France believed the aim of such dialogue was to achieve a "stable and lasting peace," and that the content would be "transparent" to Ukraine and Europe.December 21 - According to a report released by the Indonesian Meteorology, Climatology and Geophysics Agency, a 5.6-magnitude earthquake struck off the coast of North Maluku province, Indonesia, at 19:21 local time on December 21. The epicenter was located at 1.47 degrees north latitude and 126.34 degrees east longitude, with a focal depth of 27 kilometers.December 21 - On December 21, MiniMax, a general artificial intelligence company, published its post-hearing information set prospectus for the first time.

Warm Weather And Ample Supply Keep European Gas Prices Low

Charlie Brooks

Oct 25, 2022 14:18

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Due to forecasts of warmer-than-normal weather for the majority of the continent over the next week, European natural gas contracts fell further in early trading on Monday.


At 04:45 ET (08:45 GMT), the benchmark for northwest Europe, front-month Dutch TTF futures, were down more than 10% to 101.39 euros per megawatt-hour after starting at a four-month low of 100 EUR/MWh.


Meteorological forecasts indicate that continental Europe will enjoy temperatures 4 to 8 degrees Celsius above average this week, indicating decreased demand and permitting importers to continue injecting excess gas into storage.


A mild start to the winter heating season and strong purchases of liquefied natural gas on spot markets have allowed Europe to fill its storage facilities ahead of schedule, relieving the pressure generated by Russia's effective supply stop.


As of Sunday, EU storage facilities were filled to a level of 93,4 percent, with the continent's two major markets, Germany and Italy, displaying even greater levels.


As a result of the paucity of available storage, Saxo Bank analyst Ole Hansen cautioned on Twitter that a "short-term price fall" was possible.


Nevertheless, longer-term contracts indicate that the markets believe the current downturn to be temporary. The TTF price for the first quarter of the next year remains at 144.64 EUR/MWh, while the annual price for 2023 is 142.43 EUR/MWh. This reflects the risk that, if the situation in Ukraine continues, Europe will be without Russian gas for a full year in 2023, forcing it to make greater and more frequent spot market imports.


In addition, Alexander Stahel of the Swiss consultancy firm Burggraben noted, "LNG cargo owners are aware that winter is approaching." As a result, he noted, they are keeping LNG ships offshore, as opposed to routing them to other markets, as they wait for milder weather to improve demand and free up storage capacity. According to Stahel, this is substantially limiting the global market.

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