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• Energy Sector Commentary for Wednesday
  The energy sector is set for a higher start, supported...

  The energy sector is set for a higher start, supported by strength in the underlying commodities and the major market futures. U.S. stock futures edged up after Salesforce released earnings better than analysts had expected and as investors await to digest private jobs and factory activity data.

  
  

  WTI and Brent crude oil are up in early trading as European Union leaders agreed to a partial ban on Russian energy and as China ended its prolonged COVID-19 lockdown in Shanghai. The European Union’s decision on Monday to cut 90% of oil imports from Russia by the end of the year has supported oil prices on both sides of the Atlantic.

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• Russian Gas Producer Gazprom Cuts Supply to Ørsted, Shell Energy
  Russian gas producer Gazprom has cut off gas supplies to Denmark’s Ørsted and to Shell Energy for...
  Russian gas producer Gazprom has cut off gas supplies to Denmark’s Ørsted and to Shell Energy for its contract to supply gas to Germany, it said on June 1, citing the companies’ failure to make payments in rubles.
  
  Gazprom has already halted supplies to Dutch gas trader GasTerra, as well as to Bulgaria, Poland and Finland after their refusal to pay for gas in Russian rubles, as demanded by Moscow in response to Western sanctions over the Russia-Ukraine conflict.
  
  German, Italian and French companies, however, have said they would engage with Moscow’s payment scheme to ensure they can maintain supplies.
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• Tullow Oil to Buy Capricorn Energy in $827 Million All-share Deal
  Tullow Oil will acquire Capricorn Energy in an all-stock deal worth...
  Tullow Oil will acquire Capricorn Energy in an all-stock deal worth 656.9 million pounds (US$826.7 million), keeping a focus on African reserves amid soaring energy prices.
  
  Investors in Capricorn, formerly known as Cairn Energy, will receive 3.8068 Tullow shares for each share they hold, the companies said on June 1. Reuters calculated the value.
  
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• What else is brewing Wednesday morning
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  • Rafael Nadal, the undisputed King of the Clay, defeated top-seeded Novak Djokovic in an epic quarterfinal match at the French Open.
  
  
  • Shanghai authorities began lifting a two-monthslong Covid lockdown on the city.
  
  
  • Inflation in the eurozone hit 8.1%, its highest annual level since the euro was created in 1999.
  
  
  • DeLorean released new info (and photos) around its new gull-winged EV.
  
  
  • The owner of Salt Bae’s steakhouse is reportedly in talks to sell a stake at a valuation of $1.5 billion.
  
  

  
  
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• US stock futures traded mixed early on Wednesday
  US stock futures traded mixed early on Wednesday, amid concerns about central-bank...
  US stock futures traded mixed early on Wednesday, amid concerns about central-bank rate hikes. After losing Tuesday's gains, oil prices rose again on Wednesday. Here are the latest market moves.
  
  Markets: The curtain has dropped on May and, after dizzying falls and equally dramatic gains, stocks closed the month mostly where they started. Salesforce’s bullish earnings report showed that even with all the economic uncertainty, demand has remained strong for business software.
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