Japanese #LNG buying continues to track below 5-year lows and far below what the country has under contract as a whole. Both Japan and China, the largest importers in the world, continue to lift well below contract levels, even after netting out Qatari losses.
Source: Ira Joseph (X)
The warmest month on average in a super nino in relation to average is December. The European weather model ensemble shows a pattern not seen before.
Source: BuffaloWeather (X)
Revenue per worker is moving up for tech but not so much for the rest of the economy
Source: Bob Elliott (X)
How people feel about AI - Only 6% of Chinese adults are skeptical. In the US, it's 26%
Source: Rand Group (X)
ADNOC’s 2nd crude line to Fujairah is expected early next year, according to a senior Inpex executive (Reuters). Capacity goes from about 1.8m b/d to about 3.6m b/d, and a 3rd line is planned for around 2029. 🇮🇶 Iraq, 🇰🇼 Kuwait and 🇶🇦 Qatar still depend almost entirely on the Strait.
Source: Jack Prandelli (X)
Global oil supplies surpassing demand as oil market recovers, says IEA
The International Energy Agency (IEA) says the world oil market will return to a surplus in the fourth quarter of this year as Middle East exports recover faster than global oil demand, despite continued attacks on shipping. “The oil market is showing tentative signs of rebalancing, with global oil supplies surpassing demand for the first time since the outbreak of the war in Iran,” the agency, which advises industrialised countries, said in its monthly oil report.
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Trading: TTF Natural Gas Hits 103, Gaining Nearly 5% on Tight Supply
The European gas benchmark extends its rally into critical pre-winter delivery periods as structural storage deficits materialize.
Gnosly Live Signals | AI is getting cheaper
At a given level of performance, cost has fallen ~47%/quarter since 2023.