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☆ Refilling next summer will be difficult, Greek national gas operator CEO says
▼ + stars: | 2022-11-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRefilling next summer will be difficult, Greek national gas operator CEO saysDESFA CEO Maria Rita Galli discusses Greek gas supply and storage levels heading into the first winter since the start of the war in Ukraine.

LONDON, Nov 18 (Reuters) - Europe’s gas storage probably peaked this week ahead of the winter after a refill season that shattered records for its length and the volume of gas injected into storage sites across the region. Inventories in the European Union and the United Kingdom reached 1,079 terawatt-hours (TWh) on Nov. 13, according to Gas Infrastructure Europe (“Aggregated gas storage inventory”, GIE, Nov. 18). Chartbook: European gas inventoriesEuropean inventories have been boosted by record high prices, government storage mandates, reduced consumption by households and industries, and unusually mild temperatures through October and early November. As a result, Europe’s record refill and plentiful inventories have left consumers in countries such as Pakistan and Bangladesh at risk of gas shortages, rationing and power cuts this winter. Related columns:- Europe’s gas prices retreat as storage almost full (Reuters, Oct. 13)- Mission accomplished?

The worst-kept secret in U.S. politics is finally out: Donald Trump is running for president. But, of course, the GOP itself crashed, with many of Trump’s hand-picked candidates headlining the disaster. He was the political black hole from which so few GOP candidates escaped. “The question is: What happens when he goes head-to-head with the guy he’s imitating?”Well, with Trump’s official 2024 bid, we are one step closer to seeing what will happen. A Trump party in all but name.

☆ These 5 side-hustles could help bolster your finances before a likely downturn in 2023
▼ + stars: | 2022-11-12 | by ( Kiera Fields | Ryan Hogg | ) www.businessinsider.com time to read: +5 min

Side-hustles could help bolster your finances ahead of a likely downturn. Vending machines have emerged as a popular side-hustle given their appeal as a passive income source. The business has a fairly steep entry cost but once up and running, vending machines require minimal time commitment other than refilling. He made another $100,000 in revenue running a YouTube channel linked to his vending machines business. Carlos OchoaLike vending machines, laundromats have a high cost of entry but can ultimately provide a solid stream of passive income.

☆ United Airlines opens a new grab-and-go lounge in Denver for time-crunched travelers
▼ + stars: | 2022-11-04 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

United Airlines is opening a new kind of lounge at Denver International Airport, and it's not designed for travelers to linger. The roughly 1,600-square-foot lounge, called United Club Fly, is a "grab-and-go" facility with complimentary food options like sandwiches, wraps and salads as well as smaller items like Noosa yogurt cups and treats like Milk Bar Birthday Cake Truffles. A barista will offer made-to-order coffee drinks like cappuccinos, but there is also a self-serve coffee machine and a water bottle refilling station. Seating is limited: 16 seats and standing room for eight people at a bar. Travelers scan their boarding pass to enter and can't bring guests, like they can at standard United Clubs.

The oil price jump helped push U.S. inflation to the highest level in 40 years. But the sale also bled the SPR, meant to be a protection against shocks in energy markets, to the lowest level since May 1984. And it helped to sour U.S. relations with Saudi Arabia which sided with Russia in early October in a deep oil production cut. Biden said on Oct. 19 the United States is ready to tap the SPR again early next year to rein in prices. Reporting by Katharine Jackson, Timothy Gardner and Ismail Shakil; Editing by Tim Ahmann, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Centrica reopens UK's Rough gas storage site in time for winter
▼ + stars: | 2022-10-28 | by ( Nora Buli | ) www.reuters.com time to read: +2 min

Oct 28 (Reuters) - British Gas owner Centrica (CNA.L) has reopened its Rough gas storage site off England's east coast at about 20% of its previous capacity, enough to heat 1 million homes for 100 days this winter, the company said on Friday. Before it was closed, Rough represented more than 70% of UK storage and supplied 10% of peak winter demand. However, after Russia’s invasion of Ukraine and growing concerns over gas supplies this winter, Centrica upgraded the facility and started refilling the site in early autumn. Even at 20% of previous capacity, Rough is the UK's largest gas storage site and adds 50% to the UK's gas storage capacity, though this lags behind European countries, Centrica said. The long-term aim is to turn the Rough gas field into the largest long-range energy storage facility in Europe, capable of storing both natural gas and hydrogen, Centrica said.

The Dutch Title Transfer Facility (TTF) is Europe's main benchmark for natural gas prices. In addition, intraday European gas prices even went negative at the start of the week — meaning that holders of natural gas paid buyers to take the cargo off their hands. Nikoline Bromander, analyst at consultancy Rystad Energy, said high output from wind power and political agreement within the EU on cooperative measures to reduce gas prices and consumption have contributed to lowering gas prices. Before Russia's invasion of Ukraine, the EU was obtaining about 40% of all its natural gas from Moscow. Several experts have warned that Europe's high storage levels were to a large extent achieved with Russian gas.

☆ Oil volatility could get more intense as Europe's December deadline approaches
▼ + stars: | 2022-10-26 | by ( Patti Domm | In | ) www.cnbc.com time to read: +9 min

Singh notes there could be a significant drop in Russian oil in coming months as European restrictions on imports of oil and refined products, like diesel, take hold. Barclays expects about 1 million barrels of Russian oil to come off the market, but Singh said his estimate is low compared with others. He noted that China and India have increased their purchases of Russian oil, but so have other countries, like Turkey. We also believed the government in the U.S. was going to put a floor under oil prices by refilling the SPR," said Blanch. There's going to be a very large spread between European energy prices and U.S. energy prices."

LONDON, Oct 26 (Reuters) - European benchmark gas prices have been steadily declining over the past few months to near their levels before war broke out in Ukraine. WHY HAVE GAS PRICES BEEN FALLING RECENTLY? The European Union as a whole also met a target for refilling gas storage sites to 80% by Nov. 1 ahead of time. Liquefied natural gas (LNG) supply and Norwegian pipeline supply have been strong. Added to that, wind power output has been quite high, which reduces demand for gas from power plants.

☆ Amazon workers in California withdraw petition for union vote after defeat in New York
▼ + stars: | 2022-10-25 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

Workers at a California Amazon facility withdrew their petition late last week to unionize with the ALU, just days after the labor group failed to win enough votes to unionize an Amazon facility in upstate New York. The move to withdraw comes roughly two weeks after the petition was submitted, per the NLRB’s docket of the case. In an email to CNN Business, ALU President Chris Smalls played down the significance of the withdrawn petition. Since the watershed union win at JFK8, the ALU hasn’t seen success with organizing efforts at other Amazon facilities. Moreover, Amazon has refused to recognize or meet with the union at JFK8 — and continues to challenge the union’s election win.

☆ Oil climbs on expectations of tight supply as Russia sanctions loom
▼ + stars: | 2022-10-24 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

SINGAPORE, Oct 24 (Reuters) - Oil rose in early Asian trade on Monday as expectations of tighter supplies globally ahead of European Union sanctions on Russian oil underpinned prices. Register now for FREE unlimited access to Reuters.com RegisterDisruptions to global oil supplies are expected when the EU's ban on Russian imports goes into effect on Dec. 5. The group also plans to block imports of Russian oil products in February. "Biden's comments that the U.S. will only buy crude once prices hit USD70/bbl provides a strong support level." Last week, U.S. energy firms added oil and natural gas rigs for the second week in a row as relatively high oil prices encourage firms to drill more, energy services firm Baker Hughes Co said in a report on Friday.

Brent crude futures fell 3 cents to settle at $92.38 a barrel. read moreThe U.S. dollar index pared losses after the comments, weighing on oil prices. A stronger dollar reduces demand for oil by making the fuel more expensive for buyers using other currencies. "Harker is saying that the war on inflation has just begun," said Phil Flynn, analyst at Price Futures Group in Chicago. The announcement, however failed to ease oil prices, as official U.S. data showed that the SPR last week dropped to their lowest since mid-1984, while commercial oil stocks fell unexpectedly.

Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File PhotoSummary China mulls cutting quarantine time for visitors - reportLooming EU ban on Russian oil, OPEC+ cuts supportiveU.S. oil reserve sales plan fails to dampen pricesNEW YORK, Oct 20 (Reuters) - Oil prices edged higher on Thursday on news China is considering easing COVID-19 quarantine measures for visitors, boosting hopes for increased energy demand in the world's top oil importer. Brent crude futures rose 6 cents to $92.47 a barrel by 12:58 p.m. EDT (1658 GMT). China, the world's largest crude importer, has stuck to strict COVID curbs this year, which weighed heavily on business and economic activity, lowering demand for fuel. The announcement, however failed to ease oil prices, as official U.S. data showed that the SPR last week dropped to their lowest since mid-1984, while commercial oil stocks fell unexpectedly.

☆ Factbox: Europe's alternatives if Russia shuts off gas supply
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +7 min

Germany halted certification of the new Nord Stream 2 gas pipeline from Russia because of the Ukraine war so it never went into operation. Germany, Europe's biggest consumer of Russian gas, can import gas from Britain, Denmark, Norway and the Netherlands via pipelines. Southern Europe can receive Azeri gas via the Trans Adriatic Pipeline to Italy and the Trans-Anatolian Natural Gas Pipeline (TANAP) through Turkey. Liquefied natural gas (LNG) imports to Europe have increased from producers such as the United States, Qatar and other countries. OTHER OPTIONS TO COPE WITH A GAS SUPPLY CRUNCH?

☆ Oil prices rise on possible easing in China COVID quarantine measure
▼ + stars: | 2022-10-20 | by ( Emily Chow | ) www.reuters.com time to read: +4 min

Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. U.S. West Texas Intermediate crude for November delivery (WTI) , which expires on Thursday, rose $1.29, or 1.5%, to $86.84 per barrel. Bloomberg news reported on Thursday that China is considering cutting the quarantine period for inbound visitors to seven days from 10 days, citing people familiar with the matter. "Short of an unlikely shale oil revival, there are few lasting policy measures the Biden administration can use to effective push oil much lower." "EU sanctions on Russian oil imports will likely become the focus of the oil market in coming weeks... We expect Brent oil futures to average $100 per barrel in Q4 2022 on the back of supply disruption from the EU sanctions," Dhar added.

☆ Oil prices mixed amid uncertain demand, supply concerns
▼ + stars: | 2022-10-20 | by ( Emily Chow | ) www.reuters.com time to read: +3 min

REUTERS/Nick Oxford/File PhotoSINGAPORE, Oct 20 (Reuters) - Oil prices were mixed on Thursday as investors balanced caution over tightening supply against concerns that a global slowdown could curb demand. "Oil prices are being whipsawed by a number of drivers in Q4 2022," said Commonwealth Bank commodities analyst Vivek Dhar in a note. Upward pressure though is coming from OPEC+ supply cuts and imminent EU sanctions on seaborne imports of Russian oil and refined production." Global recession concerns and the potential for another aggressive U.S. rate hike were clouding the outlook for oil prices, said CMC Markets analyst Leon Li. "Therefore, oil prices would return to a downtrend after a short-term rebound," he said.

Biden blamed Russian President Vladimir Putin’s invasion of Ukraine for higher crude and gasoline prices, while noting prices had fallen 30% from their peak earlier this year. “Families are hurting,” and gasoline prices are squeezing their budgets, he added. Retail gasoline prices have fallen from a high in June, but remain above historical averages, and are a major contributor to inflation. Biden said oil companies should feel more confident about investing in production with the new SPR repurchase pledge, and stop pushing stock buybacks. So you can act now to increase oil production," he said.

☆ Biden tries again to lower gas prices — and slams oil companies for raking in record profits 'while a war is raging'
▼ + stars: | 2022-10-19 | by ( Juliana Kaplan | Ben Winck | ) www.businessinsider.com time to read: +4 min

President Joe Biden will release 15 million more barrels of oil from the country's reserves to lower gas prices. Biden also urged oil companies to invest in more production, and not their own stocks. "Gas prices hit almost every family in this country and they squeeze their family budgets. The president also castigated oil companies for pocketing larger profits instead of tamping down prices for consumers. Replenishing the SPR should provide security for the oil companies sitting on their profit windfalls.

NEW YORK, Oct 19 (Reuters) - U.S. spot crude prices could weaken as the Biden Administration follows through with its plan to sell more barrels from emergency oil reserve by year end, market participants said. Certain oil refineries prefer certain grades of crude, so the mix of barrels sold out of the Strategic Petroleum Reserve (SPR) could have a knock-on effect on the U.S. and global refining market. The SPR barrels have ended up selling at a discount to West Texas Intermediate barrels for delivery at the Magellan East Houston terminal, as demand has increased for sour barrels to make lucrative diesel, Rathod said. The sour market has also been under pressure, due to increased supplies of Canadian heavy sour and lackluster export demand, said Elizabeth Brown at S&P Global Commodity Insights. Additional barrels of sour grades from the SPR could further weigh on prices.

Chartbook: Europe gas prices and storageMAXIMUM STORAGEInventories in the European Union and the United Kingdom (EU28) have climbed to 1,029 terawatt-hours (TWh), according to data from Gas Infrastructure Europe. Stocks are +110 TWh (+12% or +1.0 standard deviations) above the seasonal average for the previous ten years ("Aggregated gas storage inventory", GIE, Oct. 13). STILL NOT ENOUGHThe combination of falling nearby prices with firming prices later in the winter and the rest of 2023 highlights the limitations of Europe's storage system. In that case, the market will still need much higher prices or some form of physical rationing to conserve stocks later in the winter. Europe fills gas storage ahead of schedule (Reuters, Oct. 4)- Europe tops up gas stocks, but winter demand cuts essential (Reuters, Sept. 7)- EU prepares public opinion for winter gas siege (Reuters, July 27)- Europe forced to pay even higher prices to fill gas storage (Reuters, July 5)- Europe fills gas storage at record rate as Asia's buyers step aside (Reuters, May 17)- Europe makes rapid start on refilling gas storage (Reuters, May 4)John Kemp is a Reuters market analyst.

Any hope of the Nord Stream network resuming shipments to Germany was dashed last month by suspected sabotage. Even then, it is unlikely to make up for the missing Russian gas. A risk is that as energy supplies dwindle, energy demand will not shrink enough. European industrial gas demand has fallen as high gas prices have led factories in energy-intensive sectors such as aluminium, steel and ammonia, have shut production. Europe can't afford any surprises this winter without Russian gasA more comfortable energy supply situation could be many winters away.

☆ What the Club is watching Monday — yields and dollar way up, stocks down, we want to buy
▼ + stars: | 2022-09-26 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

So, after a period of aggressive selling, the Club wants to buy stocks back now. Citi raises its price target on Club holding Wynn Resorts (WYNN) to $91 per share from $87.50. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ What Cramer is watching Thursday — rail strike avoided, deluge of Club stock news, Putin-Xi meeting
▼ + stars: | 2022-09-15 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

Humana (HUM) investor update meeting Thursday: much better than expected price targets: Full-year earnings per share $23.08, up from $20.30. Club holding Starbucks (SBUX): Deutsche Bank and Morgan Stanley raise price targets. Mizuho cuts price targets for Club holdings Nvidia (NVDA) and Advanced Micro Devices (AMD), because of a pending hypercomputing slowdown. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. A pay dispute between rail workers and unions threatens a nationwide freight rail strike as early as September 16, 2022.

I asked a few financial advisors if they had any tips for creating a foolproof budget plan for 2022. Analyze the areas where you spend the mostOne of the very first things I'm going to do is run a full analysis on my spending habits. As for online shopping, Zigmont recommends getting a prepaid debit card for that one purpose and refilling it each month. "Building financial habits takes time, so start with commitment and stick to a routine," said Walsh. Advertisement"Start the year off right with a savings plan," said Ellis.

Persons: —, Jay Zigmont, Zigmont, Scott Hasting, Brian Walsh, you've, Walsh, Erin Ellis, Ellis Organizations: Service

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