Australian LNG

The robber barons aren’t sparing the horses now.

Make of it what you will. Overnight: Despite seriously escalating rhetorical (“blowing the shit out of Iran” and take over Kharg Island) and kinetic action once again overnight, oil prices only managed modest gains as traders now seem reassured by reports (Trump) that an increasing number of oil tankers are sneaking through the Strait (with US help).

The Iran War is back on.

The overnight headlines are of continued war.

Yes, the gas cartel has discovered extra volumes, but only through a miracle that coincidentally matched the timing of the gas reservation and the debate!

It’s been a night of war.

JPM has had the best oil coverage of the Iran war coverage that I have followed.

KOGAS is having a good old whinge at LNG robber baron HQ.

The US bombed Queshm Island and attacked an Iranian oil tanker overnight. In retalian, Iran attacked a US ship. And is bombing Kuwait and Bahrain (probably US bases).

The latest Gulf headlines are a rolling joke.

The Israeli veto on Gulf peace nearly derailed everything last night as talks threatened to collapse owing to Israel’s invasion of Lebanon.

From cartel HQ.

Let’s begin with Art Bermin, one of the best oil analysts in the world.

Two of Australia’s richest people are very unimpressed with your coming cheaper utility bills.

Yesterday we saw an increase in the monthly CPI of 0.4%mth (4.2%yr), undershooting expectations.

Santos is lying again, which is what it does best.

A draft framework for the reservation system released by the government on Monday confirms it will require producers to sell the equivalent of 20% of their LNG exports into the local market.

These numbers are the latest but are a week old.

In flying, the most elastic demand is in Asia, then Europe, LATAM, with the US barely affected despite having the largest price rises.

According to Pauline Hanson’s One Nation gas policy, “a minimum 15% of all gas extracted from Australian sources” should be set aside for the domestic market.

This is what the fog of war looks like.

More gas cartel whinging today at Cartel Headquarters.

So far, it has only happened in private. Will it happen officially? ANZ explores. Australia is heavily dependent on refined fuel (diesel, petrol and jet fuel), with over 90% of these fuels imported.