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February Non-OPEC production increased by 303 kb/d to 49,926 kb/d. February’s world oil production increased by 971 kb/d to 80,621 kb/d according to the EIA. For the past few months, the growth in frac spreads has not been keeping up with the growth in rigs. EIA pr...
The energy sector (XLE) clung to gains Wednesday and ended as the only winner in the S&P 500, with crude oil rising to a 13-week high on Wednesday as U.S. demand for gasoline keeps climbing despite record high pump prices. WTI futures (CL1:COM) settled +2.3% at $122.11/bbl after trading a...
One of the ways to make portfolios more resilient to inflation right now is owning the currencies of large commodity exporters, both in developed and in emerging markets. One other expression of the theme is by directly trading commodity curves, especially the longer end of the oil fu...
Gasoline continues to surge despite crude prices trading substantially under levels seen in the last decade. The record-high diesel and petrol prices have a lot to do with increased refining premiums. Eventually, continued high prices will result in demand destruction. But for now...
Namibia's government is focusing on value addition from the hydrocarbon sector to solve domestic economic challenges. The country's middle-income status, political stability, and relatively generous E&P terms make it one of Sub-Saharan Africa's most attractive upstream investment ...
Amid the current market environment, a key question has emerged around how existing conditions could alter low-carbon spending plans of upstream oil and gas companies. IHS Markit believes that these current low-carbon spending estimates for several members of the peer group are likely...
Prior to Russia’s invasion of Ukraine, U.S. defense spending was already elevated for an environment without active conflict. Green or sustainable metals, such as copper, are poised to benefit as the backbone of the decarbonization story. The human suffering brought on by t...
High energy prices will be a major political problem in both the European Union and the United States, especially if we get to $150 this summer. Any move in bond yields above 3.20% will be a major problem for the stock market. A slowdown in construction and improved supply to the ...
The European Union has decided not to accept any oil imports from Russia via ship, which allows Hungary to still receive Russian oil via pipelines. While not at full capacity, OPEC does not have that much more room to increase supply, so it is sticking with its slow pace of rebuilding...
The good news is that President Biden said that tackling inflation is his “top domestic policy.” The bad news is that the burden of fighting inflation falls mostly on the Fed raising key interest rates, which could depreciate asset values like homes and stock prices. Eur...
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Barclays Bank PLC ZC SP ETN REDEEM 18/04/2041 USD 50 - 06740P221 Company Name:
OLEM Stock Symbol:
NYSE Market:
Barclays Bank PLC (“Barclays”) announced today that it plans to change the ticker for its iPath ® Pure Beta Crude Oil ETNs (the “ETNs”) which are currently listed on the New York Stock Exchange under the ticker symbol “OLEM”. The current and...
Barclays Bank PLC (“Barclays” or the “Issuer”) announced a temporary reduction of the minimum early redemption size of certain series of ETNs as specified in the table below (together, the “ETNs”). Currently holders of the ETNs are required to redeem...