ENERGY

Oil prices extended losses overnight from yesterday afternoon, but bounced back into the green this morning after WTI found support at $89 after Goldman upgraded its forecast.

After last week's big product builds, all eyes will be on any signs of demand-destruction. But, more ominously, the decline in Cushing stocks is top of mind for many…

API

• Crude -5.25mm (-1.00mm exp)

• Cushing -2.56mm

• Gasoline +732k (+500k exp)

• Distillates -258k (-200k (more…)

Oil prices ended unchanged today as early Azerbaijan angst sent WTI above $92 and some chatter from the Biden admin that draining the SPR was once again the table seemed to drag WTI back down (but $90 was support).

Investors have been looking past worries about China's economic growth and a sluggish economy in Europe to push the commodity higher amid ever-tightening supplies, as Russia and Saudi Arabia have each curbed production.

API

• Crude -5.25mm (-1.00mm exp (more…)

Authored by John Haughey via The Epoch Times (emphasis ours),

Despite 95 percent dependence on imports, including from Russia, uranium doesn’t meet new ‘criticality’ standards

Uranium ore. (Shutterstock)

President Joe Biden is guiding United States energy policy in directions designed to meet his stated goals of a “100-percent ‘clean electricity grid’” by 2035 and net-zero carbon emissions by 2050, a baseload bias that radiates across the entire federal (more…)