those prices are surging at $110 a barrel for oil nat crossing the $9 mark pippa stevens is here with impact on the energy stocks >> good morning, dom moves are high popping for natural gas. it hit $9.40 btu which is highest since august of 2008 at the beginning of the year, it was around $3.60 it is up more than 160% for 2022 much of the surge came after russia invaded ukraine which roiled global energy markets also more expensive for the energy market. it is up 24% putting it on track for the third straight month with the more than 20% gain. turning to oil wti is holding above $110 per barrel and on track for the sixth positive month since 2011. the top group this week and month and year rising 54% for 2022 occidental and marathon and halliburton among the top import impot performers in the meantime, dom, this commodity price surge is a big part of the inflation we're seeing around us >> pippa, we know how strong the momentum has been. it is impossible to miss the surge of the gas prices. is there any relief coming for people at the pump i drive nearly 100 miles a day and fill up mu

let's turn to energy oil closing with a gain today of about 2% what does it mean for gas prices >> pippa stevens> we did see a late morning reversal for oil with crude climbing into the close and now on track for a fourth positive week and this comes after two negative sessions which richard bush attributed to broader market action on anything on the fundamental side and the firm pointed on margin selling and other commodities and assets as sparking those declines as well as harscher russian sanctions still support the bull case. wti and brent are around a gain of 2.5%. sticking with energy, we do want to see broad gains across energy stocks and the clean energy fund and the invesco solar fund with 5% and max onsolar among the top gabers all of those still well below their recent highs and the lithium fund ticker also advancing. back to you. >> pippa, you just showed brent and wti. yesterday brent closed higher. why is it -- i'm sorry, wti closed higher, brent closed at a premium, why is it that wti has the higher price tag >> the one for july delivery is a little bit lower here, but also some o

it's up almost 12%, but persistent inflation could actually derail that run pippa stevens has the storyenewable energy since it makes wind and solar more competitive with fossil fuel power. but now costs are rising, in part because of the jump in raw materials reversing years of declines, and things are only getting more spexpensive. not a surprise given surging demand alongside supply chain disruption polysilicon has tripled in the last 18 months, up more than 700% since january 2021. cobalt has jumped 66%, and nickel has nearly doubled. for most minerals and metals vital to the energy transition, the price increases during the first few months of 2022 have exceeded by a wide margin the largest annual increases during the last decade. now, looking forward, analysts are split on whether costs will keep on rising at this rate. bank of america said markets may not loosen much, while goldman believes the battery metals bull market is over four now. morgan bazillion from the colorado school of mines says rising costs are a fundamental change for the industry and will impact deployment. thes

pippa stevens is here. >> stocks are higher in a week in what's been a turbulent time for the overallost is thanks to the eu announcing a new plan to move away from russian energy. they say solar will be the kingpin of this effort with capacity doubling by 2025. a number of european countries including germany and denmark also pledging to quadruple offshore wind by 2030. the region represents a huge expansion opportunity for u.s. companies and the ceo is telling me that they're tripling down on europe now turning to specific stocks, max onsolar and tpi composites among the big winners this week and this is a big but, a week does not a trend make and these stocks are still down big for 2022 they face headwinds including inflationary pressures and rotation out of growth and the department of commerce's ongoing tariff investigation, kelly. >> pippa, if people missed it they should catch jeremy grantham this week he's bearish on the stock market and on the economy right now, but he's very bullish on resource names and on climate change so he called out lithium and a few other areas of opp

pippa stevens.re, the consumer is still spending and that's according to mastercard spending pulse and showing a slight shift on spending on services and travel and experiences. does that mean what we heard from the retailers is not so much of a disaster brickland wire is head of the economics institute. brickland, this is an important big picture data point is this a shift that we're witnessing more into services? >> yeah. you know, it's fantastic to look at how the consume has evolved here they spent a whole bunch of money in discretionary services when they couldn't get out and experience the world as we've shifted back as restrictions have been removed and people have gotten back out there, we've seen the travel come back in force and people have shifted their spending toward the travel and the experience economy which has been quite remarkable. >> to what extend t are they dog so does it offset the spending on goods and what do you say to those in walmart and target and conclude that the low-in

pippa stevens. as crude oil prices continue to surge, the uk taking bold steps.dfall tax in oil and gas companies in a last-ditch effort to ease soaring energy prices and they're easing the fund-raising to pay for low-income subsidies for consumers. will it work and be counter effective? let's ask francisco blond at b of a securities. good to see you again. kyle bass this morning told us, he thought it would raise prices and harming consumers in the long run what's your take >> hey, kelly. i can't disagree with that certainly, when you tax excess profits that companies are making at times like this, you're going tos for a reduction in investment which is the only thing that will get us out of this hole and get us into a better position in the long term remember he has a huge supply shortfall going up and into very, very low levels and if you adjust for consumption we had in decades meaning that we didn't have a buffer to accommodate the next energy supply shock, so i don't know the uk government is using that to appease consumers which are obviously getting hit v

tyler, back to you. >> thanks very much, pippa stevens.at's behind today's massive move in nat gas and what does it mean for consumers let's bring in francisco blanch at b of a global research. this is like our weekly date we get together once a week fail or not while why today? why the move what can you tell us >> hey, tyler, thanks for having me the market in natural gas is getting very nervous as you know, we have a global energy crisis going on it's just they haven't impacted the u.s. yet, and what's been going on is there's been a big rally in the global price of thermal coal, which is essentially the basis of generation for all our countries, and we've seen coal prices in the u.s. rallying, so natural gas has been getting closer and closer to that coal price rally, and that's been the main trend in the last few weeks. that's really been the main driver of gas, the rallying global power prices and global coal prices. >> so as europe tries to wean itself off of russian natural gas, which it appears it is going to try to do, the pressur

pippa stevens here as well on the strength today in energy, very notable best performing sector and markey on tech's rough week and which stocksto buy now. stocks are extending losses after yesterday's massive sell-off but off the worst levels of the day and we've seen a little comeback here the dow is down 523 at session lows now down 110, mike energy and utilities are doing all right. it looks like -- i was looking for a reason yields are still a little higher but everything in moderation compared to yesterday. >> yeah. i don't know that it was so much a specific reason as it was we came into this day with what seemed near washout conditions yesterday and people very apprehensive about whether some investors are trapped or there's ongoing big liquidation. and the reaction to the jobs number was relatively mixed. yields going up. people very fixated on labor force participation. and so far you haven't really found additional sellers near the lows for the week. it's very, very faint praise, i would admit, but that's where we are right now. still held hostage by where treasury yields go,

the villain, unless you're an energy investor the commodities complex has oil in the green but pippa stevensne prices just keep going up. >> yeah, today's gain is pushing u.s. oil into the green for the week, the third straight week of gains. now, the eu is still mulling a ban on russian energy, but starting sunday there are some new restrictions traders will no longer be permitted to purchase state-owned russian oil unless strictly necessary so let's check on prices wti at 110.33, brent crude at 111.42, both up around 4%. i do want to focus on gasoline futures which are up 4%, hitting a record high today, and that does not bode well for prices at the pump with just two weeks before the busy summer driving season begins. the national average for a gallon of gas hit a new high in each of the last four days and now stands at $4.43 according to aaa. bob yeager noting that inventory has fallen over the last 13 weeks at a time when it's usually increasing ahead of driving season he said, kelly, that the national average could be heading towards six bucks. back to you. >> he said $6? >> yes and it

approached $9 on nat gas and of course on wti crude and we're looking at almost $100 a barrel pippa stevens cents this morning before giving back those gains and then some. the contract down now more than 8% and we do need to put this move in perspective and still up 11% on the week and holding above eight bucks. back in march we were at 450 that is a big move today's action is a combo of locking in profits as well as weakening weather-driven demand next week and moving over to oil which is higher and on track for a second week of gains the looming eu ban on oil remains in focus here. wti remaining at 109.78 and brent crude at $112.36 turning to energy stocks, the big outperformer today and up here almost 9% for the week. eog is leading the way following earnings that stock trading at a three and a half year high today and other notable movers include devin at a seven-year high >> it took these stocks a long time to break above previous levels pippa, thank you very much >> despite what we've seen in the markets all of the major averages are down 10% and 20% for the nasdaq my next guest says

energy complex closing for the day on nat gas and pippa stevens is all over it for us. eadily climbing higher throughout the day and it is up at $8.77 per mnbtu mizuho attributing it part to powergen rag since coal prices are also at record levels. more muted for oil, we have recession worries weigh despite an outlook for higher demand and the wti is flagged at 110.28 and at 113.31 and the sector is hovering around its highest level of 2014 and our performers include marathon petroleum which trade an all-time high as well at exxon which is at the highest in six years and btig noting that the sector is 30% above its 200-day moving average which is the widest it's been in the last two deid decades and they expect some reversion >> an interesting point to points to, pippa, thank you very much let's stick with energy as prices continue to rise across the u.s. with the national average above $4.06. the international energy has a warning unless we see big production increases the only hope we have to avoid big trouble in the oil markets this summer is weak chinese demand. with

pippa stevens joins me now with why it might be a new age for big oil. a new era for energy companies. oil and gas prices are surging, which would usually lead to increased drilling activity. but this time around, executives are pledging to keep spending down, and this is having an immediate impact on balance sheets free cash flow across u.s. shell companies is forecast to hit a record $172 billion this year according to deloitte. now, capital spending is up from the last two years, but it's still far below pre-pandemic levels levels, and part of this increase is thanks to inflation rather than new production so with all of this cash on hand, companies are rewarding shareholders through buybacks and dividends. when combined, coe tara and apa are among the top returners with 2022's total annual yield forecast around 15% according to raymond james. devon energy, diamondback and eog at more than 8%. raymond james said they've reinvented their business models from growth focus to return oriented and a number of energy stocks are hitting multiyear highs indic

pippa stevens is at the cnbc commodity desk >> hey, tyler, a muted move with the eu still trying to hammernctions against russian crude. european commission president ursula von der leyen telling cnbc at davos, she hopes an agreement will be reached in the coming days, but any deal requires approval from all member states and hungary is among those still opposing an embargo. meantime, russian oil production has fallen but exports have been surprisingly resilient with supplies rerouted to countries like india that don't have sanction riskss. the firm tracked this by looking at suez canal traffic, which is up 47% this month compared to last year. this is a more expensive route, though, which is inflationary to oil prices the firm added these last resort trade patterns can portend bigger supply problems down the line let's check on prices, wti is at 110. just about flat on the session brent crude up half of 1% at 113.92 and nat gas up 4/10 of a percent. >> that gas keeps moving up. pippa, thank you, i guess. >>> turning back to the markets, our next guest continues to favor value over growths

the schlumbergers, and the halliburtons and the baker hughes >> what about the natural gas and pippa stevensd out that in some cases you see companies swapping out for coal and that's also moving higher in the price action can you make money off of that play, as well? >> yeah. as i mentioned, we love chesapeake and entero and formerly in canada are great plays because they are infrastructure constraint. so what we try to do is buy the names that don't have that problem and the name like chesapeake which is in the area of natural gas and they're at a btu and we're not seeing significant growth here from the producers outside and chesapeake is a great play and there are several companies that have come through bankruptcy and there's a trailing concern about the company because it's been previously been bankrupt and the fact of the matter is they have very free cash flow back to shareholders and everything that the nasdaq doesn't offer you. >> paul, we'll leave it there. thank you so much. he mentions he thinks energy could be 10% of the s&p and that could be because of the shriveling of techno

. >> wow, pippa, thank you very much pippa stevens.next for crude our next guest has a unique perspective on energy prices as the leader of the second largest fracking company in north america. chris wright is the chairman and ceo of liberty energy. chris, it's great to have you here let me ask something that came up earlier about who can fill the supply needed in the global market how much more could the u.s. do right now? >> well, kelly, u.s. production grow, and it certainly can continue to grow there's a limit at how fast we can grow right now with tightness in labor markets, equipment, supply chain, and, frankly, permitting and pipeline and infrastructure and all the things it takes to grow u.s. oil production >> well, that being said, we'd obviously prefer to see it come from here than from other sources that might be less friendly and more complicated. we also have seen the uk moving to do a windfall tax on producers trying to kind of carve out a way to still incentivize production and then giving the proceeds to low income hous

experiencing almost as much volatility lately as stocks, oil back down below $100 a barrel, and pippa stevenslosing under that key $100 level and adding to the 6% declines we saw yesterday, pbm attributing the slide to the stalled eu sanctions on russian energy, which is shifting the focus back to economic considerations, and wh what slowing global growth means for demand wti is at $99.69, brent crude at 102.38 both down about 3 1/3% nat na earlier if the session it traded at $6.43 also wanted to note that gasoline prices are surging yet again. the national average for a gallon hit a record $4.37 today according to the aaa retail diesel also hitting a record of $5.55. this is the 12th straight day it's hit a record, and part of this is because of the surge in oil but lack of refining capacity starting to play an even bigger role, which is sending diesel, jet fuel and other refined products surging >> pippa, thank you very much. our next guest has been pretty concerned about the energy markets and expecting the turmoil to remain well into the summer let's bring in francisco blanch, head of glo

. >> all right pippa, thank you pippa stevens. let's talk about opportunity in this sell-off.'s bring in nancy tengler laffer tengler investments ceo and cio. nancy, give us some sage advice here what strategies, approaches, price levels, stocks where should people be looking right now? >> well, thanks, kelly you know, as a young portfolio manager i cut my teeth on black monday when the market was down 22.5% in one day and we had a client meeting that afternoon. we'd already prepared the materials. we had to tell them their $10 million portfolio was now 8, if you could just cross that out and make note of it. but what i learned from that is it's rarely a good idea to bet against the u.s. stock market and the u.s. economy for a long period of time if you have a long-term time horizon this is an interesting time to be looking for the kind of names that are going to thrive in a slowing economic environment. because make no mavg, we knew we were going to slow this year the first quarter gdp number was a bit of a surprise but it was also influenced by massive imports, which goes to