Brent Crude Hovers Near $105 as Hormuz Tanker Attacks Persist
Brent eased toward $105 on Oct. 13 as Russian diesel hopes and a Ukraine energy pause offset Iranian tanker attacks; US gasoline sits near $4.36.
Liquefied natural gas (LNG) export terminals are large industrial facilities that cool natural gas to roughly -162°C (-260°F). At that temperature the gas becomes a liquid that takes up a tiny fraction of its original volume, so it can be loaded onto specialized tankers and shipped to buyers overseas. A terminal typically includes liquefaction trains, storage tanks, marine berths, and pipeline connections to producing regions. These complexes cost billions of dollars, take years to permit and build, and often run for decades once operating.
LNG has become a central part of global energy security. Geopolitical tension, sanctions, and conflict affecting oil and gas producers have pushed importing countries to seek more diverse supplies. That raises the strategic value of export capacity, particularly along the U.S. Gulf Coast. Governments are paying closer attention to how quickly new capacity can be approved. Emergency orders and accelerated permit reviews are becoming part of the policy toolkit, and they are drawing debate over environmental review and long-term climate commitments.
Terminals also sit in places exposed to physical risk. Hurricanes and severe weather can force offshore production shut-ins and disrupt coastal operations, and these interruptions ripple quickly through natural gas and crude prices.
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Brent eased toward $105 on Oct. 13 as Russian diesel hopes and a Ukraine energy pause offset Iranian tanker attacks; US gasoline sits near $4.36.
Natural gas futures fell 2% on Oct 12 as Hurricane Isaias Gulf shut-ins began unwinding, while oil above $100 and record gasoline prices persist.
Hurricane Isaias shut in about 25% of US Gulf oil output as Brent topped $100, yet GasBuddy says average gas slipped 0.4 cents to $4.29.
Brent fell toward $103 on Oct. 9 after Trump ruled out Iran strikes before the midterms and China restarted fuel exports. Hurricane Isaias cut Gulf output.
US natural gas futures settled at $3.22/mmBtu, a two-week high, as Hurricane Isaias shut in 59% of Gulf gas output and LNG feedgas dipped on outages.
Brent fell about 1% to near $103 on Oct. 9 after Trump cited productive Iran talks and paused strikes until the midterms, while a hurricane cut Gulf oil output.
Venture Global seeks to more than double Plaquemines LNG capacity under Trump's fast-tracked energy emergency permitting, raising price and wetland concerns.
Qatar shipped just 18 LNG cargoes in six months of the US-Iran war, down 96% from 509, pushing European and Asian gas prices to multiyear highs.
Russia's crude output fell 160,000 bpd to 8.718M bpd in August as Ukrainian drones hit refineries and export ports, even with Brent above $104.
Army Corps fast-tracked Venture Global's $18B Plaquemines LNG expansion under Trump's energy emergency, cutting public comment to 10 days.