Fossil fuel prices prepare for war; plus the Winter Olympics in 2050

Photo of Trey Thoelcke
By Trey Thoelcke Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Fossil fuel prices prepare for war; plus the Winter Olympics in 2050

© Pascal Le Segretain / Getty Images

By David Callaway, Callaway Climate Insights

Fossil fuel prices are preparing for war this week. What happens next will change the energy picture in Europe permanently.

Oil is poised at about $96 a barrel. Natural gas futures in Europe shot up 7% Monday, and carbon contract prices hovered at about €92, as investors also sold stocks and bought gold ahead of what Western intelligence sources are broadcasting could be a Wednesday invasion of Ukraine by Russia.

As frantic last-minute negotiations between Western leaders and Vladimir Putin continue, markets are looking at three scenarios. An invasion will send fossil fuel prices soaring, with some analysts saying $120 a barrel is likely. A withdrawal of troops or an agreement will send prices plunging. Oil was at $70 before Christmas, with most of the recent buildup attributed to the Ukraine situation. . . .

Plus: Read how France’s new plans to build up to 14 more nuclear reactors in the next few decades dramatically highlight how at least one country in Europe hopes to cut its reliance on foreign oil and gas. And, why there are only four places in the world that will be able to host future Winter Olympic Games. . . .

To read this column, all our insights, news and in-depth interviews, please subscribe and support our great climate finance journalism.

Callaway Climate Insights Newsletter

Photo of Trey Thoelcke
About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

Continue Reading

Top Gaining Stocks

CBOE Vol: 1,568,143
PSKY Vol: 12,285,993
STX Vol: 7,378,346
ORCL Vol: 26,317,675
DDOG Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ Vol: 4,367,433
CLX Vol: 13,260,523
SYK Vol: 4,519,455
MHK Vol: 1,859,865
AMGN Vol: 3,818,618