“Energy markets in turmoil” is a podcast I recorded earlier this week with Cardiff Garcia for The New Bazaar, covering developments in oil and gas prices, OPEC and U.S. shale, the energy transition, and why my current reading is a history of Britain’s coal industry before 1700. Cardiff is one of the best interviewers in the business and the long format allowed us to explore ideas in greater depth. I hope you enjoy listening as much as I enjoyed recording
U.S./Saudi relations complicated by oil spike
Saudi Arabia’s crown prince gives interview
IEA’s plan to cut EU reliance on Russian gas
Germany rapidly rethinks energy policy
China to move into Russian oil and gas ($EF)
Russia/Ukraine war hits automakers ($WSJ)
U.S. energy consumption to rise through 2050
Sanctions – do they change behaviour? ($WSJ)
U.S. DISTILLATE inventories fell to 119 million bbl last week. Stocks are at the lowest for the time of year since 2014. On the current trajectory they are expected to hit a low of 106 million during the second quarter, also the lowest since 2014. But the slower rate of inventory depletion in recent weeks has reduced the likelihood they will drop even further to critically low levels:
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