The Daily Chase: Oil stalls, natural gas whipsawed; Trudeau expected to detail vaccine mandates
BNN Bloomberg
West Texas Intermediate crude has gone flat this morning after rallying to fresh seven-year highs in recent days. It’s incredible to think that just two years ago, Eric Nuttall was telling us the job of being an energy portfolio manager had become “a game of survivor.”
West Texas Intermediate crude has gone flat this morning after rallying to fresh seven-year highs in recent days. It’s incredible to think that just two years ago, Eric Nuttall was telling us the job of being an energy portfolio manager had become “a game of survivor.” Now, the energy subgroup is Bay Street’s star, with a gain of 39 per cent so far this year. One nugget that really caught my eye yesterday: Canadian Natural Resources has strung together 11 straight gains – its longest winning streak in half a century. Putting aside crude, how about natural gas? It’s been all over the place today: U.K. futures were up as much as 39 per cent this morning. By shortly after 10 a.m., the major nat gas futures tracked by Bloomberg had turned red after Russia President Vladimir Putin signaled a willingness to ramp up the flow of gas to Europe.
VACCINE MANDATES
Prime Minister Justin Trudeau and Deputy Prime Minister/Finance Minister Chrystia Freeland are holding a news conference this morning, where they’ll reportedly announce details about the government’s plan to mandate COVID-19 vaccines in the federal public service and for travelers. We may also learn more about the Liberals’ expectations for employers and staff in federally regulated industries more broadly.
ZUCKERBERG FIRES BACK
After three days of being in the news for all the wrong reasons, Facebook Founder and Chief Executive Mark Zuckerberg late yesterday addressed the outage (saying he’s not consumed by worries about people switching to other platforms or “how much money we lose") and the upbraiding he and his company faced by whistleblower Frances Haugen. He said many of the claims “don’t make any sense” and argued any thought that Facebook deliberately pushes content that makes people angry is “deeply illogical.” He also refuted the theory that Facebook prioritizes profit over safety and well-being. Plenty here to consider in the context of regulatory risk for Big Tech and Zuckerberg’s iron grip on Facebook.
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