Dip in U.S. LNG Imports to EU Spells Trouble for Trade Deal
OPEC Oil Production Jumps, But Gulf Supply Is Still Far From Normal What I Cover Irina Slav has been writing about global energy markets since 2007, covering the oil and gas industry, energy security, commodities, and the… For two years, the European Union has been the biggest regional buyer of U.S.
Sanctions on Russia, including a ban on LNG purchased from 2027, have prompted the pivot, actively encouraged by the second Trump administration.
But last month, Europe shunned American liquefied gas because it was too expensive.
This will be a problem for the trade deal that just went into effect.
Last July, President Donald Trump and European Commission President Ursula von der Leyen signed a trade deal framework that would ensure preferential treatment for U.S.
goods sold in the EU, notably including energy commodities.
Indeed, Von der Leyen made a commitment on behalf of the 27 members of the EU for the purchase of $750 billion worth of American energy commodities over a period of three years.
It need not be said that most of these purchases would be made up of liquefied gas, which the European Union continues to need in considerable volumes despite politicians’ and climate activists’ best efforts.
That this would be quite a challenge was clear from the beginning: $750 billion, or $250 billion annually, is quite a large sum that would buy a lot of oil and gas—indeed, all of the oil, gas, and coal that the U.S.
has available for export, perReuters’s Clyde Russell.
Yet, leaving aside what is physically possible, the EU would also have a financial difficulty in meeting its trade deal obligations, as suggested by the latest import numbers.
SetOilPrice.comas a preferred source in Googlehere.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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