WTI crude oil reverses in $1.40 jump

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China headlines help to turn the corner

China headlines help to turn the corner

I haven’t tracked down the details about China panic buying on energy but if they’re that desperate for natural gas, they will have no problem burning fuel oil for heat or switching to diesel for power.

Sweden recently closed two nuclear reactors and now there’s problems with the electricity supply.

So Sweden has been forced to fire up a oil power plant that burns 20,000 barrels of oil per day. But Sweden is only a country of 10 million — there are 1.3 billion in China and as many in India and Europe who could be facing the same problem.

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