Tom Whipple and Steve Andrews, Editors
Quote of the Week
Commodities have room to soar by another 40 percent on top of the gains in recent months, as investors could pour more money into raw materials as a hedge against the highest inflation in 40 years. JPMorgan Chase & Co
Graphic of the Week
Headlines for the week of April 4 -10
The Global Energy Situation
Money Pouring Into Fossil Fuels Risks Climate Disaster, UN Report Warns
Oil Supply, Demand, and Prices Become Clear; oil anchored above $100
OPEC+ crude production falls as sanctions take a bite out of Russia:
Russia
Who is buying Russian crude oil and who has stopped
Russia Sidesteps Sanctions to Supply Energy to Willing World
Russian, Belarus refiners cut runs on mounting stocks, sanctions
Germany could end Russian oil imports this year – Scholz
The case for and against EU sanctions on Russian oil
Russia Coal and Oil Paid for in Yuan Starts Heading to China
Discounted Urals crude finds a growing outlet in Turkey: sources
Threat of EU coal embargo leaves Russia miners pinning hopes on shift to Asia
U.S. Congress Bans Imports Of Russian Crude Oil
Tanker Rates Are Soaring As Traders Shun Russian Oil Cargoes
Europe
EU agrees to adopt a fifth sanctions package, including a ban on Russian coal imports
Germany faces a steep recession if Russian oil and gas halted
Slovakia will stay united with EU against Russian gas payment demands, PM says
Germany Seizes Control of Gazprom Unit to Secure Gas Supply
EU’s full ban on Russian coal to be pushed back to mid-August -sources
U.K. Bets Big on Nuclear, Wind in Energy Security Strategy
Breaking ranks with EU, Hungary says ready to pay for Russian gas in rubles
Shell Warns of Up to $5 Billion Hit from Russia Exit
U.S. Doesn’t See EastMed Pipeline As Viable Alternative To Russian Gas
Algeria to Expand Natural Gas Exports to Italy by Almost Half
North America
NYMEX Henry Hub May remains near 13-year highs on supply concerns
U.S. Drilling Activity Has Risen 60% In One Year
Permian Takes the Lead As U.S. Drillers Add 16 Rigs
U.S. East Coast jet fuel costs soar on shortage fears
Yellen says full ban on Russian oil exports likely to cause ‘skyrocketing’ prices
New York jet fuel hits $7.59/gal, or $318.62/b, likely a refined products market record
U.S. LNG Exporter Signs Another Long-Term Deal With China
New York set to ban natural gas in new buildings -environmental groups
Middle East-North Africa-Central Asia
Saudi’s record crude oil price for Asia shows Russia’s war impact
Record Iraqi oil revenues top $11 billion in March
Rockets fall near oil field in Iraq’s Kurdistan as infrastructure attacks intensify
Asia
Asian LNG Demand Takes a Hit As Europe Pushes Up Prices
Latin America
Cuba struggles to buy fuel as imports from Venezuela dwindle -data
The Global Economy
Agriculture
Food Prices Jump Most on Record, 13% last month, as War Sparks Supply Chaos
The $120 Billion Global Grain Trade Is Being Redrawn by Russia’s War in Ukraine
Half of Harvests in Crop Giant Ukraine Could Be Wiped Out by War
Russia
Russia’s First Default in a Century Looks All But Inevitable Now
Russia Business Activity Falls into Contraction as Sanctions Hit
Ukraine War Sanctions Hit Home for Everyday Russians
Treasury Stops Russia From Paying Debt Through U.S. Accounts
Some of the Biggest Brands Are Leaving Russia. Others Just Can’t Quit Putin. Here’s a list.
Mocked as ‘Rubble’ by Biden, Russia’s Ruble Comes Roaring Back
North America
JP Morgan: Commodities Could Surge By Another 40%
U.S. Supply-Chain Pressures Soar to a Record, Index Shows
Why GM and Ford Stocks Have Driven Off Course
Europe
Ukraine War Reverberates in Europe’s Factories and Warehouses
German Factory Orders Fall as Economy Faces Ukraine War Fallout
U.K. Launches New Body to Manage Future Energy System Security
China
Manufacturers Grind to a Halt in China as Covid Lockdowns Expand
Shunned Oil Piling Up Off China as Virus Outbreak Worsens
Shanghai: Residents ‘running out of food’ in Covid lockdown
Shanghai Covid lockdown ‘will have a global effect on almost every trade’
China Covid Outbreak Hits Spending With More Damage to Come
China’s Services Sector Posts Steepest Decline Since Pandemic’s Start
Shanghai Avoided Covid Disaster for Two Years. Now We’re Locked Down.
World Bank says war shocks to drag on Asian economies
China Oil Demand Outlook Darkens
Shanghai’s Omicron Outbreak Corners Chinese Leader
India
India condemns killings in Ukraine’s Bucha in apparent hardening of stance
India to boost arms output, fearing shortfall from Russia
Latin America
One Of the Most Gas-Rich Countries In The World Is Facing An Energy Crisis: Argentina
Africa
Gasoline Subsidy To Cost Nigeria 10 Times More Than Budgeted
Nigeria’s electricity grid collapses for the second time in a month
Global Warming
UN Warns World Is on Course for Catastrophic Warming of 2.7°C
2021 Among Earth’s Hottest Years, UN Says as Climate Meetings Start
US
Climate change could cost the U.S. budget $2 trillion a year by the end of the century, the White House says
Alaska oil field gas leak estimated at 7.2 mln cubic feet
The World’s Electric Vehicle Fleet Will Soon Surpass 20 Million, from 1 million in 2016
New satellite-driven methane calculations could add visibility into US natural gas emissions
Europe
Poland Wants Coal Use Beyond EU Net-Zero Date in Security Push
