WTI (Aug) $80.76 -$1.15, Brent (Sep) $83.73 -$1.12, Diff -$2.97 +3c
USNG (Aug) $2.19 +3c, UKNG (Aug) 76.35p +3.14p, TTF (Aug) €32.595 +€0.77

Oil price

Another down day as commodities watch other asset classes around the world which include markets and currencies that are being affected by, at present mainly politics in particular in the USA. There the spotlight is on Donald Trump fresh at the Republican conference after his assassination attempt with his new deputy JD Vance who is allegedly a climate change denier and apparently strongly supported continued fossil fuel production. 

In the Middle East it should be noted that the Houthis have stepped up their attacks maybe safe in the knowledge that Sleepy Joe is too preoccupied with the Israel situation.

And the API stats showed a decent draw of 4.44m barrels of crude but gasoline built slightly and unsurprisingly distillates added 4.92m barrels at this time of the year. According to industry experts refining margins are at a six month low.

Angus Energy

Angus has announced that the planned annual maintenance shutdown at our Saltfleetby site completed on the 13th of July. Maintenance and improvement project work scopes, including the installation of compressor acoustic hoods, were delivered successfully within the scheduled five-day outage with no safety incidents and with no harm to the environment.

Dual compressor operation resumed during the afternoon of the 13th of July with a first day sales gas export rate of 6.75mmscfd.

As reported previously, Angus is showing very good operational performance and this clearly extends to its scheduled summer maintenance which has been completed in less than five days with no problems in either safety and environmental harm. With a good and immediate return to higher gas exports I remain confident that Angus is set fair for the future at Saltfleetby and maybe more in dues course.

KeyFacts Energy Industry Directory: Malcy's Blog