RE: Wider market...24 Feb 2022 12:00
Oil price...Malcys view
In the above only European gas has taken into account the Russian invasion of the Ukraine overnight, this morning WTI is $98.01 and Brent is $103.57.
My hero Daniel Yergin has said this morning that ‘Washington is just catching up and recognising that American LNG- and the shale revolution- is a geopolitical asset. Without US LNG exports the situation would look very different in the tense stand-off over Ukraine’.
And he is of course right and it would do UK politicians a power of good to realise that upping the game in domestic hydrocarbon production, both onshore and offshore wouldn’t be a loss of green credibility but more a way to ensure that domestic needs are catered for. No surprise that UKNG is up nearly a pound a therm, look and learn and shame on those who needed to see that start of a war for it to sink in.