Energy Prices (Daily Change)
| Up/Down | Price | Change | |
|---|---|---|---|
| Crude Oil | ↑ | 83.63 | +4.14 |
| Heating Oil | ↑ | 3.3691 | +.1475 |
| RBOB Gasoline | ↑ | 2.5129 | +.1431 |
| Natural Gas | ↓ | 6.470 | -.296 |
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.
Energy Macro is brought to you by:
+Oil jumps about $4 as OPEC+ weighs biggest output cut since 2020 – Reuters
Macro Energy
+China is rerouting US gas to Europe at a big profit – WSJ
+Energy crisis sends US coal price above $200 for first time – FT
Macro Economy
+US manufacturing nearly brakes; price pressures abating – Reuters
+Dow surges more than 750 points in broad rally – WSJ
+Truss finally admits defeat on tax benefit for the wealthy – FT
+Turkish inflation tops 83% as Erdogan promises more rate cuts – FT
Energy Transition
+BlackRock reshapes top team to boost firepower against critics – FT
+Iron and steel industry will buy $250B in carbon credits for net zero – CarbonCredits.com
+Ammonia: carbon-free fuel for the shipping industry – CarbonCredits.com
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
+Brazil election goes to second round after Bolsonaro closes gap on Lula – FT
+Ukrainian forces break through Kherson frontline – FT
+Biden administration urges Congress to speed up crypto rules – FT
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