Topic
supply risk
Commodities Jackdaw boss warns of winter fuel shortages if gas field not approved
Adura chief executive Neil McCulloch warns that the UK faces winter fuel shortages if the Jackdaw gas field is not approved. The field, a joint venture between Shell and Equinor, could meet 6% of UK gas needs from 1 October. Environmental campaigners oppose the project, citing climate concerns, but McCulloch highlights the UK's limited gas storage and risks from weather or geopolitical threats.
Commodities India Plans 30-Day LPG Storage Buffer After Iran War Exposes Hormuz Supply Risk
State-run OMCs in India are developing a 30-day strategic LPG reserve to mitigate supply risks highlighted by the Iran conflict, with BPCL investing roughly Rs 5,000 crore to nearly double its storage capacity. The plan includes expanded onshore, underground, and floating storage, alongside import diversification from the US, Europe, and Russia. India imports nearly 60% of its LPG, with about 90% of those imports passing through the Strait of Hormuz.
Commodities Oil Prices Jump After Iran Missile Strikes Test Fragile Ceasefire with Israel
Oil prices climbed on Monday morning after Iran fired missiles at Israel for the first time since a fragile ceasefire was agreed in April. Brent crude jumped 2.6% to $95.50 a barrel, while US crude rose 2.5% to $92.75. The strikes threaten to further disrupt oil and gas shipments through the Strait of Hormuz.