Oil:
WTI: $98.70. Up 7.2%; up $6.60. Later, 4:44 a.m, CT: $100.13. Up $8.00.
Brent: $104.09. Up 7.5%; up $7.25. Later, 4:44 a.m, CT: $105.83. Up $8.39.
The next SPR release can’t come soon enough. I’m sure the White House will announce the release this afternoon. Speaking of which, has anyone seen or heard from the US president lately?
EU proposes new law to force suppliers comply with ESG. Does this not suggest things are not as bad as they seem? Asking for a friend.
EU calling for more renewable energy.
At 9.45 EST WTI $99.14 and rising
ReplyDeleteGreat example of backwardation for those who don't understand the concept.
DeleteAnd that is the sum total of what I learned in high school econ class. Probably distracted by the girl(s) sitting next to me
ReplyDeleteIt only took me thirteen years to understand the concept of futures and backwardation.
Delete