09/04/2026 – Italian Storage Auctions: 59% of the space offered on seasonal auctions has been allocated – Read more news

GAS & POWER: Flows still limited to their lowest terms across the Strait of Hormuz support markets as the day opens. The many uncertainties regarding the presence of naval mines, the high costs of insurance and the actual stability of the situation severely limited the resumption of navigation in the region. Following Israel's massive bombing of Lebanon yesterday, the truce appears even more fragile, with the first negotiations now expected to begin on Saturday in Islamabad.

The Australian trade union Offshore Alliance yesterday submitted a request for a vote to initiate strike action for workers operating at the Ichthys LNG liquefaction terminal, operated by the Japanese company INPEX. The escalation comes after six months of stalled negotiations. If approved, the first strike actions could begin on May 3. The terminal has a liquefaction capacity of approximately 9.3 million tons per year – 13 billion cubic meters of gas – or 2% of global export capacity. In parallel Chevron announced this morning the resumption of half of production at the Wheatstone plant, the hardest hit by the passage of Tropical Cyclone Narelle, while repair operations continue at the second liquefaction train.