There are clouds forming over the red-hot market for liquefied natural gas transport. The spot price for natural gas delivered to Europe has retrenched from summer highs but remains around $97. The higher prices have spurred a wave of commitments to build LNG liquefaction facilities.
But the buildup of LNG ships waiting in European waters to offload their cargo has already started to push prices down, showing how quickly the market can shift.
After Adidas canned its partnership with musician and fashion designer Ye, formerly Kanye West, Gap said it would pull apparel he helped design from its stores. Gap ended its partnership with Ye last month but was still selling items it had already produced. Now, it’s removing Yeezy Gap products from its stores and shutting down a website that was still selling hoodies and other merchandise from the partnership.
Futures are down after stocks closed sharply higher again yesterday. The Dow Industrials added another 337, the NASDAQ jumped 246 and the S&P 500 was up 61.
