Natural gas prices in Europe hit the equivalent of $600 oil
The price of natural gas in Europe hit an all-time high on March...
The price of natural gas in Europe hit an all-time high on March 7, briefly touching €345 per megawatt-hour. That’s equivalent, in terms of British thermal units of energy, to oil prices of $600 per barrel. Late in the day, the price had settled back to about €190, still a record.
Wheat continues surge toward all-time high as Russian invasion of Ukraine shuts down exports
Wheat futures surged by their daily price limit again Monday, extending a relentless surge towards all-time...
Wheat futures surged by their daily price limit again Monday, extending a relentless surge towards all-time highs and fanning fears of a global commodity shock as Russia’s invasion of Ukraine shuts off a crucial source of exports and threatens future production of the key food grain.
Expect wheat(and thereby corn & rice) prices to continue to rise - aside from price increases, this will cause geopolitical instability in emerging markets (e.g. the last time there was a spike in wheat prices, the Arab Springhappened).
U.S. stocks start the week lower with oil increasingly volatile
Stocks opened lower as investors continued to monitor developments around Russia's...
Stocks opened lower as investors continued to monitor developments around Russia's invasion of Ukraine, tracking volatile action in crude-oil prices. The Dow Jones Industrial Average DJIA, fell 132 points, or 0.4%, to 33,483, while the S&P 500SPX, fell 0.2% to 4,321 and the Nasdaq CompositeCOMP rose 0.3% to 13,349. Stock-index futures had fallen sharply in early activity as oil futures spiked, taking the U.S. benchmark briefly above $130 a barrel. Oil futures have since pulled back, with WTI futures CL.1 up 0.7% at $116.55 a barrel, with losses for stocks moderating.
A wildly unpredictable macroeconomic outlook on the back of the Russia-Ukraine war,...
A wildly unpredictable macroeconomic outlook on the back of the Russia-Ukraine war, coupled with spiking gas, coal, and power prices have triggered a mass exodus of speculators from EU ETS trading, sending European carbon prices into a tailspin, with the Dec ’22 currently assessed at €67 per metric tonne, down almost €30/mt week-on-week.
Whiting Petroleum and Oasis Petroleum announced they have entered...
Whiting Petroleum and Oasis Petroleum announced they have entered into an agreement to combine in a merger of equals transaction. The combined company will have a premier Williston Basin position with top tier assets across approximately 972K net acres, the combined production of 167.8 thousand boepd, significant scale and enhanced free cash flow generation to return capital to shareholders. Upon closing, Whiting’s President and CEO, Lynn Peterson, will serve as Executive Chair of the Board of Directors of the combined company. Oasis’ CEO, Danny Brown, will serve as President and Chief Executive Officer and as a member of the Board. The combined company will be headquartered in Houston upon closing but will retain the Denver office for the foreseeable future. The combined company will operate under a new name and is expected to trade on the NASDAQ under a new ticker to be announced prior to closing.
