07/08/2026 – Hormuz: the draft agreement fails to reassure the market; crude oil and gas prices are rising again – Read More News
GAS & POWER: High volatility on the gas markets: over the last twenty-four hours, losses recorded earlier in the week have been fully recouped, with front-month prices once again approaching the €60/MWh mark. Traders are pricing in uncertainty over the draft agreement between Oman and Iran to reopen the Strait of Hormuz – the only agreed navigable route would be the central one, under tight control by Tehran; furthermore, according to Qatar, the extremist faction within the country could soon call the agreement into question – with the United States reportedly involved in the negotiations, a situation which has, however, once again been denied by Iranian representatives. Despite the apparent progress, new incidents in the Strait have been reported in the last few hours.
The US company Cheniere announced yesterday that liquefied natural gas production from Train 7 – the seventh and final train of the ‘Stage 3’ phase at Corpus Christi – is now imminent, having obtained authorisation in recent weeks to feed gas into the plant’s cold section. Cheniere has also revised its production guidance for the current year upwards to 53–54 million tonnes, thanks to progress being made ahead of schedule.
The US company Cheniere announced yesterday that liquefied natural gas production from Train 7 – the seventh and final train of the ‘Stage 3’ phase at Corpus Christi – is now imminent, having obtained authorisation in recent weeks to feed gas into the plant’s cold section. Cheniere has also revised its production guidance for the current year upwards to 53–54 million tonnes, thanks to progress being made ahead of schedule.
