It's Feb. 22, 2017 and I am not wearing a coat to work! In Chicago for heaven sakes! Do I need to explain any further why natural gas prices got pummeled?! Temperatures that are more in line with spring or summer has save this market from what was a structural shortage. Now because Mother Natures has saved us, it is unclear whether lower natural gas prices will inspire the type of production we will need to meet demand.
Russia plans to meet with some OPEC and non-OPEC nations on Friday to discuss unresolved issues related to a planned oil-output cut before wider talks the following day in Vienna, a Russian government source told Reuters.
Royal Dutch Shell, the world's second-biggest publicly listed oil company, is studying acquisitions in the green energy sector, its CEO told Reuters, as it bows to shareholder demands for a strategy beyond fossil fuels.
Crude oil prices slid on Friday, dragged by a strong dollar and uncertainty over whether OPEC will agree to cut production at the group's meeting next week, but benchmark contracts were on track to close the week with gains close to 4%.
After the Brexit bash, global markets are trying to steady themselves as the historic shockwaves of the Brexit vote will continue to cause unease in global markets. The fact that Brexit will actually happen anytime soon is allowing the markets to try to act more normal even as everything in the world has changed.
Crude oil prices bounce around as the trade looks to a Brexit poll that suggests the “stay" campaign may be gaining momentum. It is becoming clear that if the UK votes to stay, then oil prices should move much higher.
The Federal Reserve failed to inspire confidence that they have a handle on what is happening in the global economy. Fed Chair Janet Yellen, in a press conference, seemed to be more defensive about misleading the market explaining why she and other officials said this meeting was a live meeting and then doubled down by saying a July interest rate increase is not “impossible.”