U.S. natural gas futures dropped to $3.00/MMBtu on Tuesday, their lowest in over a week, after surging 20% in November. Gas prices have declined amid forecasts of milder weather in mid-December, following a brief cold spell that had driven earlier gains.
Crude prices fell on Tuesday ahead of official inventory data as traders continue to focus on demand risks in China.
The Guyana-Suriname Basin has emerged as the world’s hottest offshore oil play and with the changes occurring to the global energy mix after Russia’s invasion of Ukraine, the Caribbean is becoming an important player in world oil markets.