EU softens oil-trading related sanctions on Russia
China’s biggest coal miner boosts output (trans.)
U.K. transmission grid hits capacity limit ($BBG)
Dark tanker market grows competitive
Urban centres and heatwaves ($FT)
Oil exploration accelerates ($BBG)
China’s lessons from Russia’s war
U.S. INITIAL CLAIMS for unemployment insurance benefits have been trending upwards since the start of April, albeit from an exceptionally low base, indicating the labour market may be starting to cool:
BRENT futures for September delivery are showing characteristics of a squeeze, trading in a backwardation of almost $5 per barrel compared with October. But further forward, spreads have softened significantly in recent weeks, as traders anticipate an increased probability a recession will dampen oil consumption:
IF YOU would like to receive best in energy plus my research notes every day, you can add your email to the circulation list here: https://eepurl.com/dxTcl1
JKempEnergy.com 