LME’s persistently problematic nickel contract
Nickel’s big short doesn’t want to close ($BBG)
Europe braces for intensifying diesel shortage
OPEC/U.S. shale find objectives align at dinner
China’s energy strategy still relies heavily on coal
U.S./Iran nuclear talks need top political decisions
EU considers emergency power price limit ($WSJ)
White House hunts for more sources of oil ($WSJ)
China reports 1,100 new coronavirus cases ($BBG)
U.S. distillate prices rise on low inventories
U.S. CONSUMER price inflation accelerated in February even before the main impact was felt of rising energy prices and other supply chain disruptions stemming from Russia’s invasion of Ukraine. Inflation has run at more than double the Federal Reserve’s flexible average target of +2.0% per year over the last two years. In the last three months, prices have been rising four times faster than the target, a sign the economy is overheating, with too much consumption and investment spending overwhelming limited production capacity and struggling supply chains. The chartbook contains a full set of long-term and short-term inflation indicators:
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