Energy Prices (Daily Change)
| Up/Down | Price | Change | |
|---|---|---|---|
| Crude Oil | ↓ | 79.49 | -1.74 |
| Heating Oil | ↓ | 3.3690 | -.0456 |
| RBOB Gasoline | ↓ | 2.4726 | -.0350 |
| Natural Gas | ↓ | 6.766 | -.108 |
All prices updated at end of day using CME settlements.
Yesterday’s rally unfolded as markets are in more of a sell-the-rally mode than buy-the-dip.
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While eyes are on Putin as he annexes Ukrainian territory that he doesn’t own, sabotages Nord Stream, and buzzes Norwegian offshore oil platforms, let’s not forget that this weekend South America’s largest economy goes to elect a new president.
Polls have Lulu ahead of incumbent Bolsonaro, but anything goes in this election
+Bolsonaro brings Trump’s ‘Stop the Steal’ tactics to the Brazilian election – Time
+What you need to know about Brazil’s presidential election – NPR
+Brazil braces for ‘moment of truth’ – GZERO
+‘It cannot be the madness that it is today’: what’s next for Petrobras – FT
Macro Energy
+Exxon CEO warns Biden administration against limiting fuel exports – WSJ
+Advances in technology led to record new well productivity in Permian Basin in 2021 – EIA
+Norway will patrol its oil and gas platforms with help from allies, PM says – Reuters
Macro Economy
+Stocks log their third straight quarterly decline – WSJ
+Underlying inflation gained steam in August – WSJ
+Eurozone inflation hits 10% amid energy crunch – WSJ
+US consumers spurn cars, couches, and cruises, results show – Reuters
Energy Transition
+Drought in Western states leads US farmers to adapt – WSJ
+First wind assisted tanker delivered in China – gCaptain
The power sector is the tail that’s waving the economic dog. Learn more about the critical power sector with our Power 101 courses.
Other News
+Cheating accusation tips chess world into turmoil – FT
+Putin announces annexation of Ukrainian regions in defiance of international law – CNN
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