Energy Prices (Daily Change)
| Up/Down | Price | Change | |
|---|---|---|---|
| Crude Oil | ↓ | 81.94 | -4.94 |
| Heating Oil | ↑ | 3.5860 | +.0122 |
| RBOB Gasoline | ↓ | 2.3077 | -.1082 |
| Natural Gas | ↓ | 7.842 | -.303 |
All prices updated at end of day using CME settlements.
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You may have thought that markets were reacting to the most Onion-esque news headline I’ve seen in a while…
+Argentina pledges to ease global food and energy shortages – FT
But then come to find out that it was all just plain-old fundamentals.
The API crude oil inventory numbers showed a build of 3.65 million barrels versus expecation of a .7 million barrel draw.
+US API Crude Oil Stock Change – Trading Economics
+US natural gas production hits 9-month high as NYMEX futures rally falters – SPGlobal
Macro Energy
+Iran expands nuclear program as talks to revive 2015 deal falter – WSJ
+Europe considers windfall levies on electricity producers – WSJ
+Oil prices fall on global economic fears despite Opec+ cut – FT
+Deals pick up in US oil and gas patch among companies flush with cash – FT
Macro Economy
+Fed on path for another .75-point interest rate lift after Powell’s inflation pledge – WSJ
+Brainard calls for Federal Reserve to hold its nerve on inflation – FT
+Deutsche Bank CEO Sewing says Germany heading for recession – Bloomberg
Energy Transition
The power sector is the tail that’s waving the economic dog. Learn more about the critical power sector with our Power 101 courses.
+Carbon prices in Asia are too cheap to help curb emissions – Bloomberg
Other News
+The future of crypto is at stake in Etherium’s switch – Economist
