U.S. natural gas futures surged 17.3% last week, the largest weekly gain since early May. Goldman Sachs analysts offered context for the rally, noting that the market narrative has shifted "from U.S. storage congestion fears to tightening 2026 supply." A team of Goldman analysts led by Samantha Dart, senior energy strategist, explained that the jump in NatGas prices last week to nearly $3.5/mmBtu was largely due to the roll into the November "winter" contract, which carries stronger heating demand and lower storage congestion risk.  $3.5/mmBtu…

Power prices in the top European economies, Germany and France, surged on Monday to the highest level since February amid expectations of an early-autumn cold snap and reduced renewable energy output. France’s month-ahead electricity price jumped by 4.1% to $89.13 (76.23 euros) per megawatt-hour (MWh) on Monday. The equivalent price in Germany rose by 3.6% to $116.69 (99.79 euros) per MWh, per data from EEX cited by Bloomberg. “German power prices have risen mainly due to fears about colder weather and lower-than-normal renewable generation,”…

A harsh winter awaits Kyrgyzstan. That was Kyrgyz Energy Minister Taalaibek Ibraev’s message to the country, as he recently revealed that the volume of water in the Toktogul Reservoir, which feeds many of the country’s hydroelectric plants, is at its lowest level for this time of year in more than a decade.  “With every year, we’re feeling the water shortage more and more acutely, and this trend is observed around the world,” the Ibraev said, adding that in mid-September, there were 10.8 cubic kilometers of water…

Iran claims a new natural gas discovery would add an estimated 10 trillion cubic feet to its gas reserves and could help offset an expected energy imbalance. Iran has discovered significant gas and oil reserves at the Pazan field in the southern part of the Fars province, Iranian Oil Minister Mohsen Paknejad said on Monday. “Exploration efforts in the Pazan field, in southern Fars Province and extending toward northern Bushehr, have led to this important discovery,” Shana, the news service of Iran’s oil ministry, quoted the minister…

Iraq’s 11 November parliamentary elections could mark the key turning point in the country’s history since the ousting of former president Saddam Hussein in April 2003. The nationwide ballot of around 21 million registered voters will determine the occupants of its 329-seat Council of Representatives (the de facto parliament), which will then elect a president. He will subsequently nominate a prime minister, who in turn will have to be approved by an absolute majority of the Council. Each step of this process is likely to be complicated…