The UP World LNG Shipping Index (UPI) rose 0.67% to 168.40 points, while markets remained quiet despite geopolitical shifts made by the new U.S. administration, reports UPI analyst Tomas Novotny. “This can potentially increase LNG market competition, leading to lower prices but higher sales.”The UPI saw moderate growth, with Awilco LNG (+9.1%), BP (+8.5%), and Cool Company (+6.
U.S. energy firms this week cut the number of oil and natural gas rigs operating for a third week in a row to the lowest since December 2021, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday.The oil and gas rig count, an early indicator of future output, fell by four to 576 in the week to Jan. 24.