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• What Else is Brewing
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  • WNBA star Brittney Griner’s detention in Russia was extended for another 2.5 weeks.
  
  
  • Leading tampon manufacturers in the US said they’re ramping up production to make up for shortages.
  
  
  • Layoffs hit real estate: Compass and Redfin said they were cutting 10% and 8% of their workforces, respectively.
  
  
  • Mortgage rates spiked to 6.28% yesterday, up from 5.55% a week ago.
  
  
  • Serena Williams will make her return to tennis at Wimbledon after a one-year absence from playing any matches. Elsewhere in the tennis world, the US Open said it’s allowing players from Russia and Belarus to compete in the tournament this fall; Wimbledon has banned them.
  
  

  
  
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• $6.4B LNG terminal proposed in Pa.
  Penn LNG has targeted a 60-acre waterfront site in Chester, Pa., to build a proposed $6.4 billion export...
  Penn LNG has targeted a 60-acre waterfront site in Chester, Pa., to build a proposed $6.4 billion export terminal for liquefied natural gas amid rising global demand. The project is supported by local officials and labor leaders but has drawn objections from environmentalists and community advocates citing climate change and safety concerns.
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• Hydrogen could be the future of natural gas pipelines
  Energy executives at the Reuters Global Energy Transition conference envision a new role for existing...
  Energy executives at the Reuters Global Energy Transition conference envision a new role for existing natural gas pipelines in the clean energy future as conduits for hydrogen and renewable natural gas. For example, Southern California Gas, the US' largest gas utility, wants to produce hydrogen using excess renewable power and transport it via existing gas pipes as well as its proposed Angeles Link green hydrogen pipeline.
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• API urges Biden to unlock American energy
  American Petroleum Institute President and CEO Mike Sommers...
  American Petroleum Institute President and CEO Mike Sommers wrote a letter asking President Joe Biden to encourage more fossil fuel development and outlined 10 policy recommendations to accelerate domestic energy production, including streamlining project permitting and removing federal oil and natural gas leasing curbs. "These 10 in '22 policies are a framework for new energy leadership for our nation, unleashing investment in America and creating new energy access while avoiding harmful government policies and duplicative regulation," Sommers said.
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• Energy Sector Commentary for Wednesday
  The energy sector is off to a mix to a higher start, supported by strength...

  The energy sector is off to a mix to a higher start, supported by strength in the major equity futures despite losses in the oil markets. U.S. stocks are poised to rebound ahead of an expected interest rate hike by the Federal Reserve.

  
  

  WTI and Brent crude oil futures are trading down on concerns about fuel demand and the possibility of a recession ahead of an expected interest rate hike by the U.S. Federal Reserve. Global macro continues to drive the oil markets as new inflation reports mixed with fast-changing views in the financial markets have increased the possibility the Fed will be more hawkish than investors had anticipated. This has opened the door to a 75-basis-point interest rate hike, in an attempt to curb inflation. China’s latest COVID-19 outbreak has lent some support to oil futures as investors are worried about a new phase of lockdowns. The EIA said in its monthly report that world oil demand will rise more than 2% to a record high in 2023, although soaring oil prices and weakening economic forecasts dimmed the future outlook.

  
  

  Natural gas futures have gained followed yesterday’s sharp losses buoyed by intense heat, forecasts for more demand and higher global gas prices.

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