Shell LNG Trading Provides Quarterly Boost Despite Output Drop - Doo Prime News
Doo Prime News > Industry Dynamics > Shell LNG Trading Provides Quarterly Boost Despite Output Drop

LONDON, Jan 6 (Reuters) – Earnings from Shell’s (SHEL.L) liquefied natural gas (LNG) trading operations are likely to have been significantly higher in the fourth quarter of last year despite a sharp output drop owing to plant outages, it said on Friday.

Europe’s largest oil and gas company’s update ahead of its full-year results on Feb. 2 also said it expects to pay about $2 billion in additional 2022 taxes related to the European Union and British windfall taxes imposed on the energy sector.

Full coverage: REUTERS

Oil Prices Edge Up On Optimism Over China’s Reopening

SINGAPORE, Jan 6 (Reuters) – Oil prices rose as much as $1 on Friday, extending gains from the previous session, supported by hopes of a China demand boost and after data showed lower U.S. fuel inventories following a winter storm that hit at the end of the year.

Brent crude futures were 75 cents, or 1%, higher at $79.44 a barrel at 0645 GMT, after settling 85 cents stronger at $78.69 on Thursday.

U.S. West Texas Intermediate crude futures were up 74 cents, or 1%, at $74.41 a barrel. They had settled 83 cents higher at $73.67 in the previous session.

Full coverage: REUTERS

Dollar Hits Four-Week Peak On Resilient U.S. Jobs Market

LONDON, Jan 6 (Reuters) – The dollar held near an almost one-month high on Friday, after U.S. economic data highlighted a still-tight labour market that could keep the Federal Reserve on its aggressive rate hike path.

The number of Americans filing new claims for jobless benefits dropped to a three-month low last week while layoffs fell 43% in December, data on Thursday showed.

A separate report also revealed that private employment increased by 235,000 jobs last month, far exceeding expectations for a 150,000 increase.

Full coverage: REUTERS

World Food Prices Hit Record High In 2022

PARIS, Jan 6 (Reuters) – A surge in the cost of most food commodities last year, as the disruption caused by Russia’s invasion of Ukraine raised concerns of shortages, sent the U.N. food agency’s average price index to the highest level on record.

The Food and Agriculture Organization’s (FAO) food price index, which tracks international prices of the most globally traded food commodities, averaged 143.7 points in 2022, up 14.3% from 2021, and the highest since records started in 1990, the agency said on Friday.

Full coverage: REUTERS

Morning Bid: Relentless

A look at the day ahead in European and global markets from Tom Westbrook.

Not yet the end of the first trading week of the year and festivity is giving way to now familiar tension.

Ukraine has rejected Russia’s order for a ceasefire over Orthodox Christmas as a trick. No compromise is forthcoming, either, on Capitol Hill, with 11 failed attempts at installing Kevin McCarthy as House speaker underscoring dysfunction there.

Full coverage: REUTERS

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