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Bloomberg News<\/p>\n
Sophie Caronello<\/p>\n<\/div>\n<\/div>\n
Published Feb 04, 2024<\/span> \u00a0\u2022\u00a0 3 minute read<\/span><\/p>\n<\/p><\/div>\n<\/div>\nru}fqwtnmkz{kibg09gzuh08_media_dl_1.png<\/span> Bloomberg RSS<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n\nArticle content<\/h2>\n (Bloomberg) \u2014 It\u2019s another busy earnings period with reports coming from Big Oil firms BP Plc and TotalEnergies SE, as well as Caterpillar Inc., Tyson Foods Inc., Bunge Global SA, Orsted A\/S and ArcelorMittal SA. Crop traders will focus on the US Department of Agriculture\u2019s monthly report on global supply and demand, with particular attention to South America\u2019s soybean harvest. In the US, President Joe Biden\u2019s decision to freeze approvals of new liquefied natural gas export licenses is under fire.<\/p>\n<\/section>\n
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Here are five notable charts to consider in global commodity markets as the week gets underway.<\/p>\n<\/section>\n\nArticle content<\/p>\n
Natural Gas<\/p>\n
There are growing calls to reverse Biden\u2019s LNG decision, with moderate Democrats now urging the president to \u201crefocus\u201d his policy. On Tuesday, EQT Corp. Chief Executive Officer Toby Rice will testify at a House Energy and Commerce subcommittee hearing. The head of the largest US natural gas producer has been critical of the move, saying it will result in higher emissions and hurt global energy security. The Senate will hold a separate hearing on Thursday, led by West Virginia Democrat Joe Manchin. Meanwhile, Exxon Mobil Corp.\u2019s Chief Financial Officer Kathy Mikells called the halt a \u201cmistake.\u201d This moratorium affects LNG companies needing final US approval to export to countries without free trade agreements, a necessary permit to move forward with customers and financing. Wood Mackenzie estimates another group of projects will require extensions of their existing permits before 2027, totaling almost the same amount of capacity as projects waiting for non-FTA approval.<\/p>\n<\/section>\n