With market participants expecting US inflation to remain subdued for a long time, moments ago the BLS poured cold water of disinflationary expectations when June Producer Prices came blistering hot, rising 0.5% over the prior month, well above the 0.3% expected, and the highest sequential jump since September of 2012.
S&P 500 futures are set to open at new all time highs, with global stocks rallying as the yen weakened and the Nikkei soared on speculation Japan is about to unveil the first instance of "helicopter money"-lite, as well as due to a continuation of better-than-expected U.S. jobs data. Further speculation that Italy's (and Europe's) insolvent banks will be bailed out has further boosted sentiment.
Robert Murray, the controlling owner of Murray Energy - America's largest private coal miner - said the potential layoffs were "due to the ongoing destruction of the United States coal industry by President Barack Obama," adding that electing "friends of coal" like Mr. Trump were the only hope the industry has.
Europe just lost a big chunk of production from one of its most critical natural gas fields, and not for any of the usual reasons - technical problems, pipeline constraints, or terrorist disruptions. These cuts are due to earthquakes.
Mozambique has a broad swath of problems within its governing councils. Back in December of 2005, Management Systems International based out of Washington issued a report titled CORRUPTION ASSESSMENT: MOZAMBIQUE which said point blank: "The scale and scope of corruption in Mozambique are cause for alarm".
All customers, including homes, hospitals, oil refineries and airports are at risk of losing power at some point this summer because a majority of electric generating stations in California use gas as their primary fuel. In April, millions of electric customers in Southern California were warned they could suffer power outages on up to 14 days this summer due to the closure.
The war on Coal for Power Generation, the cutback in active Natural Gas Rigs, lower production growth, trending nature of natural gas, and changing weather patterns are going to drive Natural Gas prices much higher over the next two years.