U.S. job openings fell in April, but remained at significantly high levels, suggesting that wages would continue to rise as companies scramble for workers, and contribute to inflation staying uncomfortably Continue Reading
Fed Beige Book Shows Growth Slowing in Some Areas US economic growth looks to have downshifted in recent weeks in the face of headwinds that include rising interest rates and Continue Reading
Gas Prices Hit Record Average of $4.59 New York is temporarily lifting the 16 cents-a-gallon fuel tax for six months as the summer driving season kicks off with record-high pump Continue Reading
A surge in battery metal prices means it could take several years longer for electric vehicles to become as affordable as conventional cars, according to BloombergNEF. Prices of lithium, cobalt Continue Reading
The monthly jobs report reveals key indicators about the labor market and the overall state of the economy, but it doesn’t show the entire picture. WSJ explains how to read Continue Reading
JPMorgan Chase & Co. Chief Executive Jamie Dimon said U.S. consumers still have some six to nine months of spending power left in their bank accounts but warned of an Continue Reading
There appears to be no end in sight for the current fuel supply crisis, with summer demand set to spike while refineries run at an unsustainable rate. While refineries have Continue Reading
Biden administration officials are divided over how much further the US can push sanctions against Russia without sparking global economic instability and fracturing transatlantic unity. Biden administration officials are divided Continue Reading
The Biden administration is likely to raise ethanol blending mandates for 2021 above the figure it proposed in December to align with actual U.S. consumption levels, according to two sources Continue Reading
Good morning and welcome to The Climate 202! ICYMI, yesterday we reported on how Democratic state lawmakers are promoting bills targeting the fossil fuel industry for climate damage. Today we’re looking Continue Reading
A steep discount in Russian diesel prices compared with fuel produced by other countries has spread to the European barge market in two-tier trading that is likely to continue as Continue Reading
U.S. President Joe Biden announced on Wednesday a new $700 million weapons package for Ukraine that will include high mobility artillery rocket systems, which can accurately hit targets as far Continue Reading
Russia’s factories suffered a sharp fall in output in April, with auto production leading the way down, falling 61% from last year as Western sanctions in response to the invasion Continue Reading
Northern European countries are discussing plans to create a common power grid under the North Sea to connect future offshore wind farms as they seek to strengthen energy security, but Continue Reading
Russian gas flows to Europe dipped slightly on Thursday morning, with reverse flows on the Yamal-Europe pipeline also easing, all in line with customer requests, operator data showed. Physical flows Continue Reading
The damage inflicted on Russia by sanctions was on full display in April as the economy swung into a contraction, with industrial production dropping and retail sales suffering their worst Continue Reading
Russia’s failure to pay $1.9 million in accrued interest on a dollar bond will trigger payouts potentially worth billions of dollars, a panel of investors determined on Wednesday, as the Continue Reading
The Biden administration plans to sell Ukraine four MQ-1C Gray Eagle drones that can be armed with Hellfire missiles for battlefield use against Russia, three people familiar with the situation Continue Reading
The old nuclear order, rooted in the Cold War’s unthinkable outcomes, was fraying before Russia invaded Ukraine. Now, it is giving way to a looming era of disorder unlike any Continue Reading
EU Leaders Back Partial Russian Oil Ban: Von Der Leyen Oil headed for its longest run of monthly gains in more than a decade as European Union leaders agreed to Continue Reading
Oil prices extended a bull run on Tuesday after the EU agreed to a partial ban on Russian oil and China decided to lift some coronavirus restrictions amid rising demand Continue Reading
IEA Chief Birol: The world faces a “much bigger” energy crisis than the one of the 1970s. Back in the 1970s, the crisis was just about oil. Birol: The world, Continue Reading
Rising energy prices and boxing Russian crude oil out of the global market risks a global recession, Bank of America’s head of global commodities and derivatives research Francisco Blanch warned Continue Reading
Electric vehicle sales are poised to more than triple by 2025, and yet governments and manufacturers need to lean even harder into eliminating emissions from road transportation by the middle Continue Reading
The displacement of oil as a road fuel will accelerate through 2025 as the uptake of electric vehicles ramps up, according to a new report. Electric passenger car numbers are Continue Reading
Some OPEC members are considering the idea of suspending Russia in an oil production deal as Western sanctions hurt the nation’s ability to produce more, the Wall Street Journal reported Continue Reading
Iran accused the International Atomic Energy Agency on Tuesday of publishing an unfair report on its investigation into Tehran’s nuclear activities, possibly setting up a fresh diplomatic clash with the Continue Reading
Some OPEC members are exploring the idea of suspending Russia’s participation in an oil-production deal as Western sanctions and a partial European ban begin to undercut Moscow’s ability to pump Continue Reading
Citi’s Morse: Oil in $70 Range a Fair Value by Year End Exempting Russia from the OPEC+ alliance’s oil-production agreements is being discussed by some members of the Organization of Continue Reading
‘It could leak, spill, or explode at any time, severely disrupting shipping routes’. A rapidly decaying supertanker in the Red Sea could explode at any time, a joint statement from Continue Reading
Turkey raised natural gas and power prices on Wednesday and its energy importer blamed a “perfect storm” in global markets, feeding into an inflationary surge in the country that likely Continue Reading
There’s a split emerging in India’s refining sector as private refiners tap cheap Russian crude and boost profits from exports just as domestically focused state refiners get squeezed by high Continue Reading
A shortage of oil refineries across sub-Saharan Africa coupled with soaring crude prices because of the war in Ukraine has left countries dangerously short of fuel supplies, disrupting airlines and Continue Reading
Sri Lanka wants farmers to plant more rice as part of plans to avert a severe food shortage, a top official said on Tuesday, as experts warned of a 50% Continue Reading
Pakistan aims to sign a long-term liquefied natural gas purchase deal in a bid to secure future supply and ease crippling blackouts. The South Asian nation intends to float a Continue Reading
Pakistan ’s headline inflation quickened to the highest level in more than two years in May on rising food and fuel prices amid a weakening currency. Consumer prices rose 13.8% Continue Reading
Brazil’s President Jair Bolsonaro speaks during a ceremony to announce new measures for Brasil Empreendedor (Entrepreneurial Brazil) credit program at the Planalto Palace in Brasilia, Brazil May 25, 2022. REUTERS/Adriano Continue Reading
Following two months of frustration, despair and economic loss, Shanghai’s draconian COVID-19 lockdown ended at midnight on Wednesday morning, prompting celebrations tempered with fear that an outbreak could return. Most Continue Reading
A severe slowdown for China’s economy during a year of acute political sensitivity for Chinese leader Xi Jinping is testing the credibility of Beijing’s official economic data. Figures this month Continue Reading
China’s purchasing managers’ index rose to 49.6 this month from 47.4 in April. Relaxing COVID measures in some of China’s industrial hubs may stimulate crude demand. For May, Russian seaborne Continue Reading
Highlights About 880,000 mt to arrive in June Arrivals dampen demand for other regular crudes China’s independent refineries in Shandong are set to resume taking Russian Urals, with the first Continue Reading
China will aim to ensure that its grids source about 33% of power from renewable sources by 2025, up from 28.8% in 2020, the state planning agency said on Wednesday Continue Reading
In 2020 and 2021, when the coronavirus pandemic forced much of the world’s population to spend more time at home, Chinese exports of laptops recorded double-digit percentage growth. The boom Continue Reading
A resurgence in LNG contracting is expected to result in many more deals being signed in the coming months as LNG importers in Asia and Europe, portfolio players and trading Continue Reading
U.S. consumer confidence eased modestly in May as persistently high inflation and rising interest rates force Americans to become more cautious about buying big ticket items, including motor vehicles and Continue Reading
Batten down the hatches for another nasty hurricane season. Nearly every natural force and a bunch of human-caused ones — more than just climate change — have turned the last Continue Reading
For the third year, Americans are greeting the unofficial start of summer shadowed by the specter of the coronavirus amid rising covid-19 cases and hospitalizations across the country. The United States is Continue Reading
All U.S. shale basins are expected to see growth this year. Permian is on track to account for about half of all U.S. output in 2023. The Permian has produced Continue Reading
NYMEX front-month natural gas futures May 31 picked up where they left off before the long holiday weekend by tumbling to start the abbreviated trading week. At the end of Continue Reading
Highlights Tight supplies in Europe, Asia buying interest seen Project FIDs, long-term commercial deals continue US FOB Gulf Coast cargo values rose to the highest level in almost four weeks Continue Reading
