Latest news with #TTF
Business Recorder
3 hours ago
- Business
- Business Recorder
Global LNG: Asian spot LNG prices at 4-month high on supply concerns
LONDON: Asian spot liquefied natural gas (LNG) prices rose to their highest level in four months this week on concerns over disruptions to supply due to the Israel-Iran conflict. The average LNG price for August delivery into north-east Asia was at $14.00 per million British thermal units (mmBtu), up 11% from $12.60/mmBtu last week and the highest level since February 21, industry sources estimated. Israel began attacking Iran last Friday, saying Tehran was on the verge of developing nuclear weapons. Iran, which says its nuclear programme is only for peaceful purposes, retaliated with missile and drone strikes on Israel. 'Prices have risen sharply over the last few days. We're pricing in potential supply disruptions in the Middle East andwar premiums are going up as the conflict carries on,' said Toby Copson, chairman at Davenport Energy Partners. 'While demand really isn't there in Asia, it's likely some will bid on cargoes to cover any eventual tightening of supply,' he added. Chinese demand was around 12% lower in June compared to the same month last year, according to Alex Froley, senior LNG analyst at data intelligence firm ICIS. Global LNG: Asian spot LNG prices rise to two-week high amid renewed demand 'Geopolitics will continue to drive volatility but if physical supplies continue to be steady the market could eventually ease,' Froley said. There has not been any significant disruption to physical LNG cargoes so far. QatarEnergy has instructed tankers to remain outside the Strait of Hormuz until only the day before loading. Martin Senior, head of LNG pricing at Argus, said that some buyers could bid higher relative to European buyers to attract Atlantic basin cargoes due to disruption at Hormuz. But a full Strait of Hormuz closure still seems unlikely in the long term, said Rabobank energy strategist Florence Schmit. 'The fundamental risk for markets lies in energy infrastructure from Qatar being caught in the crossfire of any escalation. Damages to its gas production sites or even LNG export infrastructure, as well as shipping operations, will have the most bullish and long-term impact on gas prices,' she added. In Europe, gas prices at the Dutch TTF hub eased on Friday after hitting a fresh 11-week high on Thursday but remain volatile. S&P Global Commodity Insights assessed its daily North West Europe LNG Marker (NWM) price benchmark for cargoes delivered in August on an ex-ship (DES) basis at $13.739/mmBtu on June 19, a $0.385/mmBtu discount to the July futures price at the TTF hub. This 15.5% weekly increase is the highest in almost four months. Argus assessed the price for July delivery at $13.825/mmBtu, while Spark Commodities assessed the June price at $13.587/mmBtu. The U.S. arbitrage to north-east Asia via the Cape of Good Hope is now more strongly pointing to Europe, while the arbitrage via Panama continues to point to Asia, said Spark Commodities analyst Qasim Afghan. In the LNG freight market, Atlantic rates recorded its largest week-on-week increase since October 2023 at $49,750/day on Friday, while Pacific rates remained steady at $32,000/day, Afghan added.
Wall Street Journal
a day ago
- Business
- Wall Street Journal
European Gas Price Gains as Market Monitors Middle East Risks
0843 GMT – European natural-gas prices climb to 40 euros a megawatt hour in early trade as the market weighs the risk of supply disruptions in the Middle East. While LNG shipments through the Strait of Hormuz have so far remained unaffected, increased jamming of vessel signals has been reported following recent airstrikes. Meanwhile, Israel's Energy Minister Eli Cohen reportedly said some gas exports to Egypt and Jordan may soon resume, after the country shut down two gas fields for security reasons. The benchmark Dutch TTF contract rises 3.3% to 39.98 euros a megawatt hour, bringing weekly gains to nearly 11%. Last week, investment funds increased their net positioning in TTF by 27 terawatt hours, according to analysts at DNB Markets DNB -2.80%decrease; red down pointing triangle. (
Arabian Post
3 days ago
- Business
- Arabian Post
Gulf Precautions Prompt LNG Armada Off Hormuz Shores
Arabian Post Staff -Dubai Qatar has instructed LNG carriers to remain outside the Strait of Hormuz until one day prior to loading operations as regional security risks heighten, with officials emphasising that this measure is precautionary and unlikely to disrupt overall supply volumes. The directive from QatarEnergy affects vessels bound for the Ras Laffan terminal, one of the world's largest liquefied natural gas export facilities. Around a dozen carriers are idling in ballast outside the terminal, awaiting final instructions before undertaking brief, tightly scheduled transits through the strait. ADVERTISEMENT Market indicators reacted swiftly: European gas prices surged as much as 4.8%, while Asian benchmarks inched upward amid growing concern over potential delivery delays. Despite this, analysts and industry insiders maintain that the streamlined entry process—coupled with Qatar's steady production—should keep cargo volumes within normal parameters. This move aligns with contingency efforts by the world's third-largest LNG exporter. Industry sources confirm that the carriers will execute 'quick entry and speedy exits' across the Hormuz passage, necessitating precise scheduling and coordination with maritime authorities. Analysts acknowledge that about 20–25% of global LNG traffic transits the Strait, underscoring its significance as a logistical chokepoint. Instructing vessels to loiter offshore aims to reduce their vulnerable exposure time in the strait. Strategic analysts warn that escalating tensions—particularly after recent military exchanges involving Israel and Iran—increase risks for all Gulf shipping. Tehran has threatened to seal off the strait, which could strain Qatar's export pipelines and ripple through global energy markets. Despite geopolitical headwinds, Qatar's production at the South Pars/North Field complex remains steady. The foreign ministry emphasised that LNG output and shipments continue to follow their usual course, even as the country takes enhanced security measures. Operational insights from shipping analysts describe a familiar summer idling pattern, but note slight increases in loitering time and cautious routing. Vessels such as the tanker HLAITAN are reportedly waiting outside the strait in anticipation of load orders. Market response has been modest. European gas hubs such as TTF recorded price rises of around 4–5%, while the Asia‑Pacific's JKM benchmark reached nearly $14 per mmBtu, marking a $1.20 uptick since mid‑June. CNBC‑style commentary points out that the precautionary shift is 'unlikely to cause major disruption,' although insurers are adjusting premiums to reflect the heightened transit risks. For global exporters and importers, Qatar's stance underscores a renewed emphasis on maritime risk management. Shipping firms are increasingly factoring geopolitical volatility into their routing and scheduling protocols. International insurers have begun revising coverage for LNG carriers traversing the Gulf, citing increased premiums tied to potential missile or drone threats in the region. Qatar's approach enables more controlled maritime planning: by delaying vessel entry until close to the loading window, the country limits their exposure to strategic bottlenecks and regional flare‑ups. This calculated move underscores Doha's dual priorities of maintaining export reliability and protecting vital shipping assets.
Perth Now
4 days ago
- Entertainment
- Perth Now
Push the Feeling On hitmaker John Reid has died
Nightcrawlers star John Reid has died. The Scottish DJ-and-songwriter - who had a huge hit in the 1990s with house track Push the Feeling On - has passed away at the age of 61. TTF vocalist Mary Kiani, who was engaged to John for nine years, told her followers of his passing on her Facebook page. Mary - who now lives in Australia - wrote: "Just heard this morning that my first love John Reid died suddenly. 'We met in Glasgow but fell in love in London. 'He was recording his album with Roy Hay (Culture Club) for his new band 'This way up'. Myself and Danusia Danoosha Zaremba were on tour, and every night we met at the Columbian hotel. 'We bought our first flat in Dennistoun age 21 and 22. We were both doing great with our music. "The birth of The Nightcrawlers happened (Push the feeling on) . We toured, we recorded, we did our vocal sessions together. "We parted 9 years later. Last year, I got in touch with him. I said I'd love to say hello again before one of us dies. I saw him just last year in Glasgow. 'RIP John 'Love Bubbs xoXO.' The Nightcrawlers song Push the Feeling On originally came out in 1992 but was remixed by underground artists JCA and Rosabot and became an international hit. It has become synonymous with '90s dance culture and later remixes, including a 2017 garage version by Big Nastie, have ensured the song remains popular. Reid - who was born in Glasgow, Scotland - enjoyed a successful career as a songwriter. He co-wrote Tina Turner's 1999 hit single When the Heartache Is Over and he co-wrote the UK number one Unbreakable for Westlife as well as working with artists like Eternal, Gemini and Claire Richards. Since the news of his death tributes to Reid have flooded social media. Chris Judge - Susan Boyle's vocal coach - poignantly said: "RIP John Reid, an incredible Scottish singer with so much soul most famous for his vocals in the Nightcrawlers hit push the feeling on. "It's been sampled so many times Pitbull, the Friday song by Riton Mufasa and Hypeman etc he was also an extremely talented topline writer, who wrote "A moment like this" hit after hit for Tina Turner, Rod Stewart, Leona Lewis, Westlife sending love to my besty Mary Kiani you guys were the OG Session singers of the 90s l've loved hearing your story's Sjo Big hugs xxx. 'I remember him from doing road shows all over the country .. back when I was in the boy band days he was always such a nice guy very encouraging and supportive to all the new bands .. he had so much success as a writer but it was his voice I loved he was an incredible singer and well respected like Mary in the session scene doing all the backing vocals working for people like Ian Levine.' Songwriter Levine - a frequent collaborator with Reid - took to X to post: "I just learned that John Reid has died. I wrote over 100 songs with him and find it very hard to come to terms with."
The Irish Sun
4 days ago
- Entertainment
- The Irish Sun
Chart-topping Scots DJ dies suddenly as devastated music stars pay tributes
TRIBUTES were paid to Nightcrawlers dance DJ John Reid who has died at the age of 61. Glasgow born producer DJ and vocalist Reid had a successful career as a songwriter having co-written Tina Turner's 1999 hit-single When the Heartache Is Over, songs for Rod Stewart and a UK chart-topping single for Westlife ('Unbreakable'). Advertisement 2 Nighcrawlers Dance DJ John Reid has died aged 61 Credit: Alamy 2 John's ex-fiance and TTF vocalist Mary Kiani paid tribute to the late DJ The former Crookston Castle pupil also co-wrote Kelly Clarkson and Leona Lewis' hit 'A Moment Like This'. John who also worked with Simon Cowell and Ian Levine on Whenever You Need Someone' (Bad Boys Inc), and tracks for Eternal, Gemini, Claire Richards for 'My Heart Is Heading Home (This Christmas). His huge 90s hit with Nightcrawlers Push The Feeling On was later remixed by underground artists JCA and Rosabot and re-entered the U.S. Dance Chart, this time peaking at number 1. It has since received other successful remixes featuring people like Big Narstie and has become club classic, making his name synonymous with 90s dance music. Advertisement TTF vocalist Mary Kiani, who now lives in Australia, and was engaged to John for nine years, told her followers of his passing: 'Just heard this morning that my first love John Reid died suddenly. 'We met in Glasgow but fell in love in London. 'He was recording his album with Roy Hay (Culture Club) for his new band 'This way up'. Myself and Danusia DanooshaZaremba were on tour, and every night we met at the Columbian hotel. 'We bought our first flat in Dennistoun age 21 & 22. We were both doing great with our music. The birth of The Nightcrawlers happened (Push the feeling on) . We toured, we recorded, we did our vocal sessions together. We parted 9 years later. Last year, I got in touch with him. I said I'd love to say hello again before one of us dies. I saw him just last year in Glasgow. Advertisement Most read in Music 'RIP John 'Love Bubbs xoXO.' Bell ringers pay tribute to tragic DJ Avicii as his family prepare to bring his body home And Susan Boyle's vocal coach and Red Hot Chilli Pipers singer Chris Judge, who also used to be in boybands, added: ' RIP John Reid, an incredible Scottish singer with so much soul most famous for his vocals in the Nightcrawlers hit push the feeling on .. it's been sampled so many times Pitbull, the Friday song by Riton Mufasa & Hypeman etc he was also an extremely talented topline writer, who wrote 'A moment like this' hit after hit for Tina Turner, Rod Stewart, Leona Lewis, Westlife sending love to my besty Mary Kiani you guys were the OG Session singers of the 90s l've loved hearing your story's Sjo Big hugs xxx'' He added: ' I remember him from doing road shows all over the country .. back when I was in the boy band days he was always such a nice guy very encouraging and supportive to all the new bands .. he had so much success as a writer but it was his voice I loved he was an incredible singer and well respected like Mary in the session scene doing all the backing vocals working for people like Ian Levine. Advertisement
