Energy

JPMorgan says $185 oil is in view if Russian supply hit persists | Markets – Gulf News

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JPMorgan says $185 oil is in view if Russian supply hit persists | Markets – Gulf News

Brent crude could end the year at $185 a barrel if Russian supply continue to be disrupted, JPMorgan Chase & Co wrote in a note Thursday.

Oil prices have skyrocketed, with Brent crude approaching $120 earlier Thursday as traders shun Russian oil after Moscow invaded Ukraine. U.S. President Joe Biden is facing calls to ban Russian imports of energy but so far has not imposed full blown sanctions on oil. VDO.AI

Currently, 66% of Russian oil is struggling to find buyers, JP Morgan analysts including Natasha Kaneva said in the note.

In the short term, the scale of the supply shock is so large that oil prices need to reach and stay at $120 a barrel for months to incentivize demand destruction, the analysts said, assuming there would be no immediate return of Iranian crude barrels.

"As sanctions have widened and the shift to energy security takes on an urgent priority, there will likely be ramifications for Russian oil sales into Europe and the US, potentially impacting up to 4.3 million barrels per day," the analysts wrote.

NPR

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Oil prices are surging toward $100 a barrel. Here’s what to know : NPR

Oil prices are swinging dramatically, with recent peaks pushing close to a major milestone: $100 a barrel.

The possibility of Russia invading Ukraine is the driving force, but there's more at play than the risk of war. And complicating predictions further, the possibility of a deal with Iran is hovering in the background.

Here's what to know as crude prices hover within striking distance of the triple digits last seen in 2014.

Germany halts Nord Stream 2 gas pipeline after Russia sends troops into eastern Ukraine | NPR

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Germany halts Nord Stream 2 gas pipeline after Russia sends troops into eastern Ukraine | NPR

Nord Stream 2: German Chancellor Olaf Scholz said that the pipeline "cannot go online" with Russian troops in eastern Ukraine and that Germany is assessing other ways to secure its energy needs. The U.S. has said that Europe would be too dependent on Russia for its energy needs should the project come to fruition.

Researchers Develop Poison Bait to Control Feral Pigs | Field & Stream

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Researchers Develop Poison Bait to Control Feral Pigs | Field & Stream

This is pretty cool science, building a safe pesticide for controlling feral pigs using sodium nitrates, the same thing used to cure bacon. Basically pigs are slightly more sensitive to sodium nitrate than humans, so they can be poisoned by it. But the sodium nitrates don't bioaccumulate. I do wonder though about the production of Nitroso compounds and if they could cause problems downstream.