ENERGY

Oil prices extended gains from yesterday afternoon's rebound, helped by a big draw at the Cushing Hub reported by API. Escalating risks in the Middle East are competing with IEA's forecast that the market will be well-supplied this year (the US is at record production and global economic activity slows), which is at odds with OPEC's forecast of a large shortfall.

The inventory/demand/supply data may give us an early glimpse at who will be right?

API

• Crude (more…)

Oil prices closed higher today, back inside their YTD range, following OPEC's forecast that global oil demand will continue to increase strongly next year and exceed growth in supplies.

OPEC is publishing estimates for the year ahead a few months earlier than normal “to offer more tra (more…)

Authored by Mike Shedlock via MishTalk.com,

The climate fear-mongers are pressuring Biden to ban natural gas exports. Let’s discuss the ramifications.

Climate Test for Natural Gas Exports

Politco notes Biden’s Aides Weigh Climate Test for Natural Gas Exports.

Climate Win For Biden?

“We know that the Biden administration really needs a climate win and in order for them to win.”

The public is more than a bit sick of the policies of this (more…)