The US called Iran’s response to the latest effort to revive the 2015 nuclear accord “not constructive,” raising questions about whether the two sides can reach a deal that would free more oil for global markets. Vedant Patel, a department spokesperson, didn’t elaborate on the remarks Thursday night, but added that US officials were still …
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Californians were told Wednesday not to charge their electric vehicles during peak hours, just days after the state said it would stop selling gas-powered cars, as the aging electricity grid struggles with a fearsome heatwave. Temperatures as high as 112 degrees Fahrenheit (44 degrees Celsius) were forecast in some Los Angeles suburbs as a huge …
https://youtu.be/v5UCmsXpngA Charlie Munger warns about the biggest inflationary bubble in world history bursting and shares his thoughts on how it is going to unfold. He elaborates on the difficulty of building wealth for the young generation of today compared to his. Charlie says that we’re flirting with serious trouble and the consequences may be worse …
BRUSSELS (Reuters) -The European Union is drafting emergency plans to intervene in its energy market, as pressure grows from member states to put a lid on the surging price of electricity. European Commission chief Ursula von der Leyen said on Monday Brussels was preparing an intervention to separate power prices from the soaring cost of …
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The prices of oil futures fell on Tuesday as rising concerns over the global economy going into a recession seemingly clouded the demand outlook. Namely, traders are bracing for another possibly abnormally high interest rate hike in September, as Federal Reserve Chair Jerome Powell warned that getting inflation down to the target 2% will “require …
Oil futures prices rose on Monday amid growing supply concerns ahead of the coming winter and the Ukraine crisis, which continues to add extra pressure to international crude oil trading. Most recently, Shell Chief Executive Officer Ben Van Beurden warned about the current energy crisis and that this one could last more than one winter. …
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Concern about the potential for a radiation leak at Zaporizhzhia nuclear power plant is persisting. Ukraine’s state energy operator has warned that there are “risks of hydrogen leakage and sputtering of radioactive substances” at the Russian-occupied plant. Authorities were distributing iodine tablets to residents who live near the plant in case of radiation exposure. Russia …
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U.K. residents will see an 80% increase in their annual household energy bills, the country’s energy regulator announced Friday, following a record 54% spike in April. That will bring costs for the average customer from 1,971 pounds ($2,332) a year to 3,549 pounds. The latest price cap — the maximum amount that gas suppliers can …
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The flaring first came to light a few weeks ago when Finnish people noticed a large flame on the horizon at the Russian border. Analysis suggests around 4.34 million cubic metres of gas is being burned every day – an estimated $10m worth. Russia is burning off large amounts of natural gas that it previously …
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JACKSON HOLE, Wyo., Aug 27 (Reuters) – Cleveland Federal Reserve Bank President Loretta Mester on Saturday said she would base her decision on whether to back a third straight 75-basis point interest rate hike next month on U.S. inflation data, not the closely-watched jobs report. Fed Chair Jerome Powell on Friday said the Fed will …
Continue reading “Fed’s Mester: Not convinced inflation peaked”