United States natural gas futures jumped over 7% on Thursday, ahead of the publication of the latest gas inventories report by the Energy Information Administration (EIA). Namely, the current tensions in the Middle East have sparked worries about potential disruptions in the supply of the commodity.
In addition, The New York Times reported earlier that the Biden administration is delaying the approval of the project Calcasieu Pass 2 (CP2), developed by Venture Global LNG, which would be the largest in the US with an export capacity of around 20 million metric tonnes per year. Seemingly, the White House is instructing the Department of Energy (DOE) to conduct a more extensive evaluation of the project, taking into account its potential impact on climate change, national economy, and security.
Diversified Energy Company plc (LON:DEC) is an independent energy company engaged in the production, marketing, transportation and retirement of primarily natural gas and natural gas liquids related to its U.S. onshore upstream and midstream assets.
