WTI’s negative price – inside story ($BBG)
India faces coal and electricity shortage
OPEC/IEA tensions break into the open
OPEC reduces oil consumption forecast
German economists downgrade outlook
CNOOC to exit U.S./U.K./Canada assets
India’s refiners buy Russian oil ($BBG)
Jet fuel supplies are tightening ($BBG)
Energy crisis ousts climate policy ($FT)
U.S. petroleum product exports in 2021
U.S CONSUMER PRICES are increasing between two and four times faster than the central bank’s target of a little over 2%. Core prices for items other than food and energy have increased at a compound annual rate of 4.0% over the last two years and were advancing at an annualised rate of 5.8% in the three months from December to March. Services prices, which are normally more stable but also more labour-intensive, increased at a compound rate of 3.4% over the last two years and were rising at an annualised rate 7.1% between December and March. The rapidly rising cost of energy, raw materials, manufactured products, freight and labour is becoming more deeply entrenched in the rest of the economy:
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