Energy Prices (Daily Change)
| Up/Down | Price | Change | |
|---|---|---|---|
| Crude Oil | ↑ | 97.01 | +3.95 |
| Heating Oil | ↓ | 3.9099 | -.0977 |
| RBOB Gasoline | ↑ | 2.8776 | +.0263 |
| Natural Gas | ↑ | 9.353 | +.057 |
All prices updated at end of day using CME settlements.
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Crude continued higher to start the week as the market anticipates OPEC cuts. TTF gas saw some relief with prices pulling back almost 20%. Of course, even with the decline, European gas and electricity prices remain severely elevated.
+Oil settles up more than 4% on prospect of OPEC+ supply cut – Reuters
+Shell chief warns Europe’s energy crisis will last more than one winter – FT
+German economy minister says ‘bitter reality’ is Russia will not resume gas supply – Reuters
Macro Energy
+Crude in US emergency reserve falls to lowest since Dec 1984 – Reuters
+2020 inflation-adjusted US energy expenditures lowest since 2002 – EIA
+Russia confounds the west by recapturing its oil riches – WSJ
Macro Economy
+The dollar will get even stronger. Why that could slam the global economy – Barron’s
Other News
+Honda, LG Energy plan $4.4 billion EV battery factory in US – WSJ
