A discussion about the energy cliff and its implications on the future economy and asset values.

New Covid-19 variant spreads fear over the markets. With crude oil being one of the worst hit ones.

It is likely the transition away from fossil fuels will proceed more slowly. The US EIA crude inventory data reveal the US working inventory growth rate is 3.5% from a combination of domestic consumption and exports of refined products.

The crude oil market is taking a sell-off today as it’s worried about the Fed tapering from today’s Fed meeting and fears about the White House threat of an oil release.

British businesses reported faster growth in October, helped by fewer curbs on foreign travel, but the Bank of England is likely to be worried about record rises in the costs faced by businesses, which are being passed on to consumers.

On the natural gas front, the market is in correction mode but the rally is far from over.