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Download Full Report Here:: https://media.marketnews.com/MNI_Oil_Weekly_Oil_Pressured_on_Russia_Ukraine_Opt imism_f6a8de4098.pdf Executive Summary: * Oil Pressured on Russia/Ukraine Optimism: U.S. officials have pushed a positive narrative around a Ukraine peace deal this week, a move which adds further pressure for oil. European leaders meanwhile have voiced significant discontent and poured cold water on a swift positive outcome following numerous false starts this year and Russia's maximalist demands. * Oil Markets: Brent crude remains under bearish pressure as Ukraine-Russia peace talks continue and with concern for oversupply rising into next year, ahead of an OPEC+ meeting this weekend. Diesel and gasoline cracks have steadied in recent days after a pull back from highs in mid-November, although tight supply concern persist. * Analyst Views: See oil market views and outlooks from key analyst names.
Nov-26 12:34Download Full Document Here:: https://media.marketnews.com/MNI_Oil_Weekly_U_S_Sanctions_on_Rosneft_Lukoil_Nea r_edbb0611f3.pdf Executive Summary: * U.S. Sanctions on Rosneft/Lukoil Near: The fallout of U.S. sanctions on Lukoil/Rosneft will become clearer from next week as they come into force November 21. Near term disruption from main buyers India and China remains but the market still expects workarounds to emerge as significant discounts eventually temp buyers. * Oil Markets: Brent has softened from a high last week to remain within a $62.3/bbl and $65.3/bbl range weighing uncertainty over Russian output against ongoing oversupply risks and recent rise in oil volumes at sea. Diesel and gasoline cracks remain strong amid tight supplies from refinery disruption and US sanctions on Russia's Lukoil and Rosneft. * Analyst Views: See oil market views and outlooks from key industry names.
Nov-19 16:03Download Full Document Here: : https://media.marketnews.com/MNI_Oil_Weekly_China_Reluctance_Pressures_Crude_a0 0d213c9d.pdf Executive Summary: * China Reluctance Pressures Crude: Chinese refiners have shown reluctance towards Russian barrels, Iranian floating is building, and Saudi allocations are slipping as Chinese refiners await import quota allocations. * Oil Market: Brent comes under midweek pressure but remains within a $62.8/bbl to $65.3/bbl range this month, weighing excess oil supply against uncertainty over the impact of the latest sanctions on Russia. Oil products crack spreads are seeing support from ongoing Ukrainian attacks on Russian refineries, amid already tight markets, taking diesel spreads to the highest since 2023. * Analyst Views: See oil market outlooks and views by key names in industry.
Nov-12 16:23Download Full Report Here:: https://media.marketnews.com/MNI_Oil_Weekly_Diesel_Markets_Remain_Heated_189df4 a68e.pdf Executive Summary: * Diesel Markets Remain Heated: A slew of factors keeps diesel markets heated against a backdrop of crude weakness heading into a northern hemisphere winter. * Oil Markets: Brent crude is holding within the $63.8/bbl to $65.4/bbl range, weighing OPEC+ policy, elevated levels of oil at sea, Russia sanctions and China stockpiling. Oil product crack spreads have risen over the last week with strikes on Russian energy infrastructure and sanctions impacts adding to seasonal maintenance. * Analyst Views: See oil market views and outlooks from key market names.
Nov-05 16:31Research
Download Full Report Here: https://media.marketnews.com/MNI_2025_11_LNG_Risks_with_Russia_Ukraine_Peace_De al_b34e12ea05.pdf Executive Summary * The 28-point peace plan to end the Russia-Ukraine War has been launched by the US, with Trump setting a Nov. 27 deadline. * While there is no guarantee that it will end the war, it could have wide implications for energy markets. * The plan gives no guarantees for sanctions relief; however, Russia will likely push for an easing of restrictions on Arctic LNG 2. * US LNG demand could face lower utilization rates and delayed facility FID's, but impacts are likely to be limited in the very near term.
Nov-21 19:50See Summaries here: MNI_Major US LNG Exporters Q3 Guidance.pdf: https://media.marketnews.com/MNI_Major_US_LNG_Exporters_Q3_Guidance_5bcece3288. pdf This quarter saw the three major US LNG exporters delivering roughly 309 cargoes with steady growth in the global LNG market. * Cheniere maintained steady output across Sabine Pass and Corpus Christi while advancing CCL Stage 3 and preparing for future expansions. * Venture Global posted the fastest growth, exporting a record 100 cargoes and driving most of the new global LNG capacity added this year, while progressing Plaquemines and CP2 despite ongoing arbitration disputes. * Sempra focused less on current exports in its earnings call and more on construction progress at Port Arthur Phases 1 and 2 and ECA LNG, reflecting its broader strategic pivot toward utility investments after selling 45% of its LNG arm to KKR.
Nov-18 16:48Download full report here: https://media.marketnews.com/MNI_Winter_25_26_Preview_af0459492c.pdf Executive Summary: * L48 Natgas market is trending long heading into winter requiring additional demand to work off excess gas in storage ahead of next summer. * Without a colder-than-normal winter, this demand is unlikely to be realized, and the latest weather outlooks suggest the season could trend warm. * As a result, there may be downside Henry Hub risk as forward prices are currently above historical average settlements.
Oct-29 13:31Download Full Report Here: https://media.marketnews.com/Russian_Oil_Sanctions_Overview_and_Implications_25 da5fbd88.pdf * Executive Summary: The U.S. has initiated new sanctions on leading Russian crude exporters Rosneft and Lukoil. * China and India are most affected by the new measures, with importers suspending purchases in the near-term * In the longer-term, India's imports are expected to be more impacted than Russia-China flows. * Download Full Report Here: https://media.marketnews.com/Russian_Oil_Sanctions_Overview_and_Implications_ 25da5fbd88.pdf
Oct-23 17:13Natgas & LNG Analysis
Download Full Report Here: : https://media.marketnews.com/MNI_Gas_Weekly_Bearish_Pressures_Mount_on_European _Gas_21241cc3a8.pdf Executive Summary: * European Gas Benchmarks fell on hopes of a Russia-Ukraine peace deal, mild weather and stable supply. * Asia's LNG market remains relatively muted amid subdued demand from Japan and China. * In the Middle East & Africa, Egypt is considering purchasing further cargoes for December. * Henry Hub has oscillated on mixed weather forecasts, high production and strong feedgas demand. * In the Americas, US shale drillers are taking their expertise to Argentina's Vaca Muerta.
Nov-26 10:49Download Full Report Here: : https://media.marketnews.com/MNI_Gas_Weekly_Freight_Rates_Drive_Up_LNG_Prices_0 65fa2db6b.pdf Executive Summary: * European Gas Benchmarks continue to hinge on weather forecast revisions. * Asia's LNG market is on the rise amid climbing freight rates. * In the Middle East & Africa, cargoes are seen diverting from NWE to Egypt and Jordan. * Henry Hub has softened from an eight month high as colder weather abates. * In the Americas, the US DoE is pressuring Mexico Pacific to reveal its investors.
Nov-19 12:07MNI Gas Weekly - Market Tamed by Healthy Supply.pdf: https://media.marketnews.com/MNI_Gas_Weekly_Market_Tamed_by_Healthy_Supply_dec7 f2155c.pdf Executive Summary: * European Gas Benchmarks see some upside on colder weather forecasts. * Asia's LNG market is struggling for upside support as the region remains well supplied. * In the Middle East & Africa, Egypt is looking to buy additional LNG cargoes. * Henry Hub had a turbulent week amid moves in underlying fundamentals. * In the Americas, Pemex is planning to assign hydrocarbon projects to private sector partners.
Nov-12 12:38Download Full Report Here:: https://media.marketnews.com/MNI_Gas_Weekly_Market_Takes_Stock_Ahead_of_Winter_ 7e2d7dc76c.pdf Executive Summary: * European Gas Benchmarks remain rangebound overall with wind/temperature forecasts in focus. * Asia's LNG market continues to see soft demand pressure prices. * In the Middle East & Africa, an Israel-Egypt gas deal is being held up by the former's government. * Henry Hub is finding a boost from short-term heating demand and record LNG feedgas flows. * In the Americas, Eni and YPF signed a deal to include ADNOC's XRG in the Argentina LNG project.
Nov-05 12:24Refinery Maintenance
corrected *MARATHON CARSON REFINERY REPORTS FLARING GASES NOV. 22 *MARATHON CARSON REFINERY HAS A UNPLANNED FLARE EVENT - bbg
Nov-24 13:04Download Full Report Here: https://media.marketnews.com/Ukrainian_Drone_Strike_Tracker_Nov_18_4e1f0819b8.p df Executive Summary * Bloomberg estimates that Russia's crude processing rates declined to about 5.04m b/d over Nov. 6-12 as Ukraine stepped up drone attack * The document lists reported Ukrainian drone attacks on Russian refining facilities since October. * Given the frequency of attempted strikes, the list may not be exhaustive. * Download Full Report Here: https://media.marketnews.com/Ukrainian_Drone_Strike_Tracker_Nov_18_4e1f0819b8 .pdf
Nov-18 16:43Download Full Report Here: https://media.marketnews.com/Ukrainian_Drone_Strike_Tracker_7095b02cda.pdf Executive Summary * The document lists reported Ukrainian drone attacks on Russian refining facilities since October. * Download Full Report Here: https://media.marketnews.com/Ukrainian_Drone_Strike_Tracker_7095b02cda.pdf
Nov-11 15:22Download Full Document Here:: https://media.marketnews.com/MNI_European_Refining_Oct_Nov_2025_65c5b7738b.pdf See key refinery maintenance highlights across Europe through October/November 2025. All entries were covered in greater detail with follow ups on the MNI real-time service.
Nov-11 14:29Political Drivers For Energy
Download Full Report Here: https://media.marketnews.com/Key_Political_Drivers_of_Energy_Markets_Nov_17_23_ 774470ae6f.pdf Executive Summary: * Saudi Arabia's Crown Prince MBS is due to meet with President Trump in Washington Nov. 18 * Trump has hinted that he is considering talks on Venezuela as military build-up continues * A US and Inda trade deal is in focus as Washington looks to stop India's Russian oil buying * Download Full Report Here: https://media.marketnews.com/Key_Political_Drivers_of_Energy_Markets_Nov_17_2 3_774470ae6f.pdf
Nov-17 13:16Download Full Report Here: https://media.marketnews.com/Key_Political_Drivers_of_Energy_Markets_Nov_10_16_ 3f0d8bfb4e.pdf Executive Summary: * After Trump granted Hungary a waiver to continue buying Russian oil, the market will watch for indicators around the US' willingness to enforce measures. * Mixed messages continue from the Trump administration towards Venezuela, as it hopes to drive Maduro out of power without military intervention. * Download Full Report Here: https://media.marketnews.com/Key_Political_Drivers_of_Energy_Markets_Nov_10_1 6_3f0d8bfb4e.pdf
Nov-10 13:15Download Full Report Here: https://media.marketnews.com/Key_Political_Drivers_of_Energy_Markets_Nov_3_9_f1 47f3c125.pdf Executive Summary: * Buyers of Russian oil continue to look for alternatives ahead of the sanctions on Rosneft and Lukoil from Nov. 21. * The market continues to see conflicting accounts towards the US military build-up around Venezuela. * Download Full Report Here: https://media.marketnews.com/Key_Political_Drivers_of_Energy_Markets_Nov_3_9_ f147f3c125.pdf
Nov-03 13:14Download Full Report Here: https://media.marketnews.com/Key_Political_Drivers_of_Energy_Markets_Oct_27_Nov _2_a9a7fb0bfc.pdf Executive Summary: * The U.S. announced sanctions on Russia's Lukoil and Rosneft last week, likely disrupting exports to India and China. * Key to watch will be the U.S' determination to enforce the sanctions, and the circumvention measures employed to overcome them. * U.S. and Chinese officials have sketched out a trade deal framework. * Download Full Report Here: https://media.marketnews.com/Key_Political_Drivers_of_Energy_Markets_Oct_27_N ov_2_a9a7fb0bfc.pdf
Oct-27 13:32US Commodities Research
See Summaries here: MNI_Major US LNG Exporters Q3 Guidance.pdf: https://media.marketnews.com/MNI_Major_US_LNG_Exporters_Q3_Guidance_5bcece3288. pdf This quarter saw the three major US LNG exporters delivering roughly 309 cargoes with steady growth in the global LNG market. * Cheniere maintained steady output across Sabine Pass and Corpus Christi while advancing CCL Stage 3 and preparing for future expansions. * Venture Global posted the fastest growth, exporting a record 100 cargoes and driving most of the new global LNG capacity added this year, while progressing Plaquemines and CP2 despite ongoing arbitration disputes. * Sempra focused less on current exports in its earnings call and more on construction progress at Port Arthur Phases 1 and 2 and ECA LNG, reflecting its broader strategic pivot toward utility investments after selling 45% of its LNG arm to KKR.
Nov-18 16:48See Summaries here: MNI_Major US LNG Exporters Q3 Guidance.pdf: https://media.marketnews.com/MNI_Major_US_LNG_Exporters_Q3_Guidance_5bcece3288. pdf This quarter saw the three major US LNG exporters delivering roughly 309 cargoes with steady growth in the global LNG market. * Cheniere maintained steady output across Sabine Pass and Corpus Christi while advancing CCL Stage 3 and preparing for future expansions. * Venture Global posted the fastest growth, exporting a record 100 cargoes and driving most of the new global LNG capacity added this year, while progressing Plaquemines and CP2 despite ongoing arbitration disputes. * Sempra focused less on current exports in its earnings call and more on construction progress at Port Arthur Phases 1 and 2 and ECA LNG, reflecting its broader strategic pivot toward utility investments after selling 45% of its LNG arm to KKR.
Nov-18 16:37See Summaries here: MNI_US Producer 3Q25 Guidance.pdf: https://media.marketnews.com/MNI_US_Producer_3_Q25_Guidance_41ac98b507.pdf The latest quarter of earnings had a common theme of exceeding production guidance and being under budget across oil and gas focused producers. * Several oil producers noted they are watching commodity prices but plant to continue focusing on shareholder returns before production should oil prices fall further in 2026. * Gas producers are optimistic about the future natural gas demand, and expect the latter half of the decade to provide several bullish signals to support production growth. * Permian producers are looking to hold production flat, but express flexibility in their drilling programs to grow should the market call for incremental supply. * Northeast and Haynesville producers are focused on exploring all new opportunities for long-term contracts from data center demand growth and LNG growth, with some already ramping production for incoming LNG demand this winter.
Nov-12 14:15US LNG Weekly Summary - November 7th: https://media.marketnews.com/US_LNG_Weekly_2025_11_07_4857a32d2b.pdf MNI estimates US feedgas averaged 17.5 Bcf/d on November 7th, up 2.1 Bcf/d from last month and up 0.7 from the 30-day average. * Plaquemines LNG reached 3.95 Bcf/d today, which combine with a Non-FTA export approval for 3.4 Bcf/d, FERC feedgas approvals for all trains, and 15% feedgas:LNG ratio suggests all 18 trains are online. * Freeport feedgas started the week down due to a CenterPoint power outage, but has since returned to normal operating levels. * Corpus Christi volumes have been volatile intra-day the last few days. Flows were down substantially on at Wednesday's open, but EOD nominations show the facility recovered on Wednesday and closed down yesterday. As of today's nominations, the facility is running at about 75% of capacity. * If all facilities were operating at normal levels today, feedgas would be nearly 18.5 Bcf/d.
Nov-07 19:32Carbon Market Research
Download Full Report Here:: https://media.marketnews.com/MNI_Carbon_Monthly_Monitor_Nov_and_Dec_b3598b1dd4. pdf Executive Summary: * EU Automotive Package: The EU's 2035 combustion-engine ban faces growing pushback from member states and automakers, prompting a potential delay of the Commission's 10 December review. * UKA/EUA Dec25 Options Expiry: On the non-policy side, EUA Dec-25 options head into 10 December expiry with implied volatility inching up from record lows, skew turning more negative, and open interest thinning-highlighting steady volatility expectations but rising relative demand for downside protection. UKA Dec-25 options approach 10 December expiry with implied volatility at multi-month highs and a record put/call tilt, underscoring heightened demand for downside protection as overall open interest dwindles.
Nov-28 12:19Download Full Report Here:: https://media.marketnews.com/MNI_Power_Service_Market_Reaction_of_EU_Environmen t_Council_Meeting_e35e31ff69.pdf Executive Summary: * The European Environment Council on 5 November agreed on the 2040 Climate Target and the 2035 NDC, as well as the EU ETS2 delay by one year. * Reactions from market participants have been mixed especially on the delay of ETS2, with sharp criticism from pro-environmental groups, while some European parties are even pushing for further delays.
Nov-07 15:47Download Full Report Here:: https://media.marketnews.com/MNI_Carbon_Monthly_Review_and_Outlook_November_5e4 8328163.pdf Executive Summary: * EU Climate Target 2040/NDC 2035: The EU's Climate Target for 2040 and 2035 Nationally Determined Contribution (NDC) are still in limbo with a vote scheduled to take place at the next EU Environment Council meeting on 4 November. The EU faces a ticking clock, with the 4 November meeting as the final opportunity to officially submit its NDC ahead of COP30.
Oct-30 15:57Download Full Report Here: https://media.marketnews.com/MNI_Carbon_Monthly_Policy_Monitor_e1dbaa0887.pdf: Executive Summary: * EU Climate Target 2040: The EU's 2040 climate target remains undecided following the postponement of a European Parliament vote on Ondrej Knotek's proposal to reject the target, originally scheduled for 23 September. Environment Commissioner Teresa Ribera has said the bloc aims to finalise the target "in the coming weeks." * EU 2035 NDC: The EU Environment Council has approved a statement of intent outlining its indicative 2035 Nationally Determined Contribution (NDC) - a 66.25-72.5% GHG reduction vs 1990 levels. The final NDC is expected to be submitted ahead of COP30 in November.
Sep-29 13:03Commodities Macro
The FOMC is unanimously expected to cut the Fed funds rate by 25bp at the October meeting, per 31 previews seen by MNI.
October 27, 2025 21:36The Federal Reserve is overwhelmingly expected to cut the funds rate by 25bp for a 2nd consecutive meeting.
October 24, 2025 21:05All but 2 analysts expect a 25bp cut at the September FOMC.
September 15, 2025 16:52The Federal Reserve is set to resume its easing cycle at the September 16-17 meeting.
September 12, 2025 21:15
