Devika Krishna Kumar

A new commodities boom is complicating central bankers' anti-inflation efforts and may help derail prospects for significant interest-rate cuts any time soon.

Shale-Oil ‘Fracklog' Resumes Expansion After a Year-Long Hiatus

Shale explorers are drilling wells faster than they're fracking them, a strong signal that US oil-production growth is slowing. Author of the article:

(Bloomberg) -- The combination of strong US growth and sticky inflation is raising the odds the Federal Reserve hikes rather than cuts interest rates, bringing borrowing costs to as high as 6.5% next year, according to UBS Group AG strategists.Most Read from BloombergIsrael Versus Iran — What All-Out War Could Look LikeApple Faces Worst iPhone Slump Since Covid as Rivals RiseIran's Attack on Israel Sparks Race to Avert a Full-Blown WarSingapore PM Lee to Hand Reins to Wong After Two DecadesGoldm

(Bloomberg) -- Shale explorers are drilling wells faster than they’re fracking them, a signal that US oil-production growth is slowing.Most Read from BloombergIsrael Versus Iran — What All-Out War Could Look LikeApple Faces Worst iPhone Slump Since Covid as Rivals RiseIran’s Attack on Israel Sparks Race to Avert a Full-Blown WarSingapore PM Lee to Hand Reins to Wong After Two DecadesGoldman Traders Deliver Surprise Profit SurgeOil companies added to the number of drilled-but-uncompleted wells, k

Overall, U.S. shale-oil production is expected to be steady at about 9.86 MMbpd in May, below the record 10 MMbpd seen in December, according to the report. Production from the Permian basin hasn’t completely returned to the December high and is expected to be roughly 6.17 MMbpd next month.

Oil traders piled into more than 3 million barrels worth of options contracts in a bet that prices would spike to $250 a barrel by June as geopolitical risks remain elevated.

(Bloomberg) -- Petroleos Mexicanos is offering more cargoes of oil to its customers after fires struck two of its refineries, hampering its plan to keep crude supplies to produce fuels domestically.

Fire damage to Pemex's refineries has hampered its plan to keep crude supplies to produce fuels domestically.

Petróleos Mexicanos está ofreciendo más cargamentos de petróleo a sus clientes después de que dos de sus refinerías se incendiaran, lo que obstaculizó su plan de mantener los suministros de crudo para producir combustibles a nivel nacional.