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Posted December 4, 2023 Today in Energy

Red Sea chokepoints are critical for international oil and natural gas flows ›

The Suez Canal, the SUMED pipeline, and the Bab el-Mandeb Strait are strategic routes for Persian Gulf oil and natural gas shipments to Europe and North America. Total oil shipments via these routes accounted for about 12% of total seaborne-traded oil in the first half of 2023, and liquefied natural gas (LNG) shipments accounted for about 8% of worldwide LNG trade. More

Arabian Peninsula maritime chokepoints

Data source: U.S. Energy Information Administration

Data Highlights

WTI crude oil futures price

12/1/2023: $74.07/barrel

down$1.47 from week earlier
down$7.15 from year earlier

Natural gas futures price

12/1/2023: $2.814/MMBtu

down$0.041 from week earlier
down$3.924 from year earlier

Weekly coal production

11/25/2023: 10.460 million tons

down1.408 million tons from week earlier
down0.914 million tons from year earlier

Natural gas inventories

11/24/2023: 3,836 Bcf

up10 Bcf from week earlier
up341 Bcf from year earlier

Crude oil inventories

11/24/2023: 449.7 million barrels

up1.6 million barrels from week earlier
up30.6 million barrels from year earlier