WTI ‘Steady’ Near 5-Week Highs As ‘Drill Baby Drill’ Lifts US Crude Production | ZeroHedge

Crude prices continue to tread water above $70 (WTI) this morning (holding Monday's gains on potential sanctions on Russian oil), drifting modestly lower aftr API reported a large crude build overnight ahead of new supply coming this month as OPEC+ begins to unwind 2.2-million barrels per day of production cuts.

However the new supply is being offset with tightened U.S. sanctions on Iran and Venezuela, while Trump this week threatened to impose secondary tariffs on U.S. imports (more…)

Continue ReadingWTI ‘Steady’ Near 5-Week Highs As ‘Drill Baby Drill’ Lifts US Crude Production | ZeroHedge

Top German Politicians Are Calling For Resumption Of Russian Gas | ZeroHedge

In Europe, the lure of a return to cheap energy is ever-present, and that conversation is becoming easier as the Trump administration in Washington pushes hard for ceasefire negotiations with Moscow.

Senior German politicians are already calling for a resumption of ties with Russia. For example Michael Kretschmer, a senior member of Friedrich Merz’s centre-right Christian Democrats, is now arguing that EU sanctions on Russia are "completely out of date" as they (more…)

Continue ReadingTop German Politicians Are Calling For Resumption Of Russian Gas | ZeroHedge