Gas crisis seen to worsen after Europe burns through winter stocks

European gas storage tanks around 90% full Gazprom resumes exports to Italy Kremlin wants to join Nord Stream leaks inquiry EU divided over proposals for gas price cap HELSINKI/BRUSSELS, Oct 5 (Reuters) – Europe may face an even more acute energy crunch next year after draining its natural gas tanks to get through the cold … Read more

OPEC+ agrees deep oil production cuts, Biden calls it shortsighted

OPEC+ to cut output by 2 million bpd Real cuts estimated at 1 million bpd due to under-production Biden criticizes decision, calls it shortsighted Saudi says West’s criticism driven by wealth arrogance Saudi says cuts necessary due to rising interest rates VIENNA/LONDON, Oct 5 (Reuters) – OPEC+ agreed steep oil production cuts on Wednesday, curbing … Read more

Morning Bid: Not so fast – Reuters

Morning Bid: Not so fastReuters Stocks making the biggest moves in the premarket: Tesla, Ford Motor, Goldman Sachs and moreCNBC Dow Jones Futures Fall After Market Rally On Fed Hopes; Musk-Twitter Saga Isn’t Over Yet | Investor’s Business DailyInvestor’s Business Daily Morning Bid: Retweet or like?Reuters Top stocks trending after hours: Twitter, Amylyx Pharmaceuticals, AutoZone, … Read more

German exports beat expectations despite cooling global economy

BERLIN, Oct 5 (Reuters) – German exports rose slightly more than expected in August despite a cooling global economy, rising interest rates and material shortages, the statistics office said on Wednesday. Stronger demand from the United States and China helped push exports to 133.1 billion euros ($132.59 billion) in August, up 1.6% from the previous … Read more

OPEC+ supply cuts loom over tight oil market

LONDON/GENEVA/VIENNA, Oct 4 (Reuters) – OPEC+ looks set to cut output when it meets on Wednesday, curbing supply in an oil market that energy company executives and analysts say is under strain from robust demand, lack of investment and production problems . The potential OPEC+ cut could spur a recovery in oil prices that have … Read more

London’s Battersea Power Station reborn as an office and shopping hub

LONDON, Oct 4 (Reuters) – London’s Battersea Power Station reopens next week as a glitzy hub of offices, flats, restaurants and shops after decades of failed attempts to reinvigorate one of the capital’s most iconic buildings, often described as the “Everest of real estate”. The 1930s power station once supplied a fifth of London’s electricity, … Read more

Morning Bit: Stress buster | Reuters

A look at the day ahead in US and global markets from Mike Dolan The new quarter seems to have defused some of the tension in world markets over recent weeks, helped by something of a rethink on just how hard central banks are willing to squeeze credit into mounting financial and economic stress. Futures … Read more

Analysis: Tesla could face its toughest challenge yet as the economy cools

SAN FRANCISCO, Oct 4 (Reuters) – As recently as July, Tesla (TSLA.O) Chief Executive Elon Musk said the electric-car maker did not have a problem with customer demand, simply a problem making and shipping all the Model Ys and Model 3s consumers were ready to buy. That may no longer be true. Analysts see early … Read more

Exclusive: White House rules out ban on natural gas exports this winter

WASHINGTON, Oct 4 (Reuters) – The White House has ruled out any ban or curbs on natural-gas exports this winter, in a bid to help alleviate energy shortages in Europe, according to two people directly involved in the discussions. In March, US President Joe Biden committed to deliver 15 trillion cubic meters (bcm) more of … Read more