Natural gas prices jumped Thursday following a multiweek swoon, providing a lift to shares of Club holding Coterra Energy (CTRA), which lately has relied on the commodity for more than half its operating revenues. U.S. natural gas prices rose nearly 4% Thursday to roughly $3.81 per million British thermal units (MMBtu). Coterra shares climbed nearly 3% to over $25 apiece. Thursday’s natural gas gains — on top of a 0.88% jump on Wednesday — reverse some of its recent losses. But only partially. As recently as Dec. 15, U.S. natural gas prices settled at nearly $7 per million British thermal units. So far in 2023, natural gas remains down around 12%. Unusually warm winter weather across the U.S. and Europe is a major culprit for the falling prices. Demand for natural gas fell in response, with less of it is needed to heat homes. Proof is in the data. The amount of working gas in storage actually rose 11 billion cubic feet in the week ended Jan. 6, the U.S. Energy Information Administration said Thursday. That’s the first weekly inventory build in January on record, according to FactSet. Of course, the price of natural gas matters to consumers and their energy bills. It also matters greatly to investors in Houston-based Coterra, the product of a 2021 merger between Cabot Oil & Gas and Cimarex Energy. Coterra has the most natural gas exposure of the three exploration and production (E & P) firms in the Club portfolio, with the commodity accounting for nearly 58% of its operating revenue through the first three quarters of 2022; fourth-quarter results aren’t out yet. Pioneer Natural Resources (PXD), by contrast, has generated 11% of its operating revenue from natural gas over the same span. That figure is roughly 14% for Devon Energy (DVN). Oil and natural gas liquids are the other major products all three E & P companies sell. In a very basic sense, the higher the price of natural gas, the more money Coterra can make from its operations — which ultimately influences the company’s free cash flow and, by extension, its dividend payment. But the company’s realized price in a quarter can be different than the average market prices over that same timeframe. This is because companies like Coterra will enter into agreements to sell natural gas or oil at a predetermined price at a future date. Sometimes, that agreed-upon price will be higher than the market price on that day. Other times, it will be lower. This is what determines the difference between a company’s realized price and the spot price of the commodity in question. Coterra investors still pay attention to the swings in natural gas prices. The company’s sales are not fully hedged, so what happens to market prices does impact the amount of revenue it generates. In an interview with Jim Cramer earlier this week, Coterra CEO Tom Jorden sought to downplay worries about natural gas price declines. “Prices are constructive on both oil and gas, and our returns are really extraordinary at current conditions,” he said Tuesday night. The Club and other shareholders care a great deal about those returns. Coterra employs a fixed-plus-variable dividend, so the payout changes quarterly based on the company’s free cash flow in the trailing three months. The company has committed to returning at least 50% of its free cash flow each quarter to shareholders. Including dividends and stock buybacks, Coterra returned 74% of free cash flow in the third quarter and 80% in the second quarter. At Wednesday’s closing price of $24.69 per share, Coterra’s dividend yield stood at roughly 11%, based on its most recent payout of 68 cents on Nov. 30 . “We can never predict the price going forward, but we can control being good at the business, being disciplined in our investments and managing a prudent, healthy balance sheet,” Jorden told Jim. No doubt, predicting the price of volatile commodities is a tough task. But agencies and research firms still do so. In its short-term outlook issued Tuesday, the U.S. EIA forecasted natural gas prices to average $4.90 per MMBtu this year, down nearly 10% from its prior projection of $5.43. Through the first nine months of 2022, Coterra’s realized natural gas price was $4.79 per MMBtu. This is notable because even though natural gas soared to over $9 per MMBtu at times in the spring and summer of last year, Coterra’s realized sale price wasn’t nearly as high as market prices. This helps explain why the Club hasn’t run for the hills as natural gas prices fell in recent weeks. Volatility is to be expected, and we know Coterra is able to maintain a very attractive dividend even if commodity prices are a bit lower than where they were in 2022. In a very uncertain market environment, being invested in companies that return significant capital to shareholders is a good place to be. Jim said Wednesday morning he believed Coterra was worth buying at current levels, due in part to reassurances Jorden provided on recent reserve write-downs at the company. Elsewhere in energy, the Club trimmed its position in oilfield services Halliburton (HAL) on Thursday. While we still like the stock overall, we wanted to be disciplined due to its recent strength and book some profits. (Jim Cramer’s Charitable Trust is long CTRA, DVN, PXD and HAL . See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Pipes at the landfall facilities of the ‘Nord Stream 1’ gas pipeline are pictured in Lubmin, Germany, March 8, 2022.
Hannibal Hanschke | Reuters
Natural gas prices jumped Thursday following a multiweek swoon, providing a lift to shares of Club holding Coterra Energy (CTRA), which lately has relied on the commodity for more than half its operating revenues.
In a concerning series of poor decisions, Switzerland’s Federal Office of Energy (SFOE) decided to bury a study it had ordered and paid $120,000 for, as it confirmed that upgrading an internal combustion engine (ICE) car to an electric vehicle is beneficial for the environment.
Back in 2022, SFOE commissioned Infras, a reputable research firm, to answer a straightforward question: When does it make sense, from a climate perspective, to replace a gasoline car with an electric one?
It’s not a bad question.
If you are considering buying a new car, it is better for the environment to opt for an electric one. Countless studies have confirmed this over the years. The degree to which it is more beneficial varies based on how much you drive and if it is charged with renewable energy, but it is significantly better.
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But due to the high environmental impact of manufacturing a new vehicle, some are debating whether it’s possibly better to drive your old beater until it completely falls apart rather than buying a new EV.
The Federal Office of Energy decided to answer that question by ordering a study worth 100,000 Swiss francs.
When the report landed in fall 2024, the verdict was clear: replacing over 90% of existing petrol/diesel cars with an equal-sized EV would save CO₂ immediately, except for vehicles that hardly ever leave the driveway.
However, the only reason we are aware of it now is that Republik, a Swiss online investigative journalism magazine, managed to obtain a copy through freedom of information requests.
Instead of publishing the study, the Federal Office of Energy decided to bury it.
Why? It’s unclear.
When asked now, they say that they have doubts about the results, but Republik followed with more freedom of information requests for emails discussing the study after Infras delivered it, and it tells a different story.
The publication reports on the communications from the SFOE staff:
The topic is “potentially sensitive,” the project manager wrote to various employees at the beginning of December 2024 after internal discussions, noting that the recommendations “could be misinterpreted” at a time when the federal administration “tends to be perceived rather negatively.” The study is “simply academic,” replied the head of communications at the Federal Office of Energy. In reality, no one will consider whether to replace their five-year-old combustion engine with an electric car “from a climate perspective.” One must be careful not to accuse the Federal Office of Energy of making “elitist recommendations” along the lines of “if there’s no bread, then eat cake.”
The conversation is particularly unusual, considering the study’s goal was to inform buyers of the potential environmental impact of upgrading to an electric car, and they now had the answer.
Now, they didn’t want them to have that information?
Switzerland had a goal of 50% of new cars sold in the country to be electric this year, but it is currently at about 30%.
Electrek’s Take
Great journalism work by Republik, but terrible work by the Swiss government and bureaucrats.
The science is clear: they are a net positive for the environment compared to vehicles that burn fossil fuel.
I have been reporting on and promoting electric vehicles for over a decade now. I didn’t think that in 2025 we would still be fighting against propaganda against that simple fact, but here we are.
There’s clearly still a lot of work to do.
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The 2026 Chevy Silverado EV has officially arrived. With a range of up to 493 miles, the electric pickup is built for the long haul. It can tow up to 12,500 lbs, sprint from 0 to 60 mph in under 4.5 seconds, and now features a rugged new Trail Boss trim with 775 hp and more off-road capability than ever.
Thanks to the new Silverado, Equinox, and Blazer EVs, it’s actually closing the gap with Tesla. With the new and improved 2026 models now available, Chevy could gain even more ground into the end of the year.
Last month, Chevrolet introduced a new Trail Boss trim for the 2026 Silverado EV, boasting 725 horsepower and several off-road upgrades.
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The new Silverado EV Trail Boss “gives customers an option that builds on our strong truck pedigree, high electric range and off-road capability,” according to Scott Bell, Chevy’s vice president.
With a 2″ lift, the new trim offers 24% higher ground clearance than the base version. It also gains new features, like Terrain Mode and a fine-tuned suspension for added capability.
2026 Chevy Silverado EV Trail Boss trim (Source: Chevrolet)
Adding to the Silverado EV’s already sleek look, the flagship model gains trim-exclusive design elements, including Trail Boss badging inside and out, 35″ all-terrain tires, a high-angle front end design, and red tow hooks.
Like the base Silverado EV LT, the Trail Boss edition is available with Chevy’s Multi-Flex Midgate (shown below). The flexible bed provides up to 10 feet and 10 inches of total space to fit kayaks, camping gear, and more.
2026 Chevy Silverado EV Trail Boss trim (Source: Chevrolet)
With the extended-range battery, the 2026 Chevy Silverado EV Trail Boss edition can tow up to 12,500 lbs and has a maximum payload of 2,100 lbs. It also delivers an impressive up to 760 horsepower and 775 lb-ft of torque.
Using Wide Open Watts mode unlocks maximum horsepower and torque, enabling a 0 to 60 mph sprint in just 4.5 seconds.
The electric truck is just as impressive inside as it is on the outside. A 17.7″ touchscreen infotainment and an 11″ driver display come as standard with Google built-in.
You can also add a 14″ diagonal Head-Up Display (HUD) and GM’s Super Cruise driver assist tech. According to Chevy, Super Cruise is available when towing on the LT and Trail Boss trims.
Chevy slashed prices across the board with the 2026 Work Truck trim listed at a base price of just $54,895, $2,200 less than the outgoing model.
2026 Chevy Silverado EV Trim
Battery Pack
Range
Starting MSRP (includes $2,095 DFC)
Work Truck
Standard
286 miles (EPA-estimated)
$54,895
Extended
424 miles (EPA-estimated)
$68,295
Max
493 miles (EPA-estimated)
$76,295
LT
Standard
283 miles (EPA-estimated)
$62,995
Extended
410 miles (EPA-estimated)
$71,195
Max
478 miles (GM-estimated)
$91,295
Trail Boss
Extended
410 miles (EPA-estimated)
$72,095
Max
478 miles (GM-estimated)
$88,695
2026 Chevy Silverado EV prices and range by trim
The 2026 Chevy Silverado EV LT is about $10,000 cheaper than the outgoing version. It’s now available, starting at just $62,995 with up to 283 miles of range. The Extended and Max Range battery packs, with EPA-estimated ranges of 410 miles and 478 miles, respectively, start at $68,295 and $76,295.
You can snag the new Trail Boss trim for $72,095 with a range of 410 miles. Like the LT, the Max battery pack provides 478 miles range, starting at $88,695.
If you’re looking for something a little smaller, the Chevy Equinox EV, or “America’s most affordable 315+ mile range EV,” starts at just $34,995 with leases as low as $289 per month.
Looking to test one out for yourself? With the 2026 models rolling out, Chevy is offering big discounts, including 0% financing or a $3,000 cash bonus on 2025 model years. You can use our links below to find Chevy Silverado, Equinox, and Blazer EVs in your area.
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Smoke blankets the sky above Tehran, Iran, following explosions in the capital after the Israeli army hit Iranian targets, on June 18, 2025.
Anadolu | Anadolu | Getty Images
Crude oil futures rose more than 1% on Thursday, after Prime Minister Benjamin Netanyahu ordered Israel’s military to intensify attacks against Iran.
U.S. crude oil was last up $1.36, or 1.81%, to $76.50 per barrel by 9:38 a.m. ET, while global benchmark Brent added $1.10, or 1.43%, to $77.80 per barrel. Prices have gained more than 11% over the seven days since Israel began pounding Iran’s nuclear and missile programs.
Netanyahu ordered Israel’s military to intensify attacks on “strategic targets” in Iran and “government targets” in the country’s capital, Tehran, Israel Defense Minister Israel Katz said in a social media post. The goal of the strikes is to “undermine the ayatollah’s regime,” Katz said.
Israel’s decision to escalate its military operation against the Islamic Republic comes after an Iranian missile reportedly struck a major hospital in the southern city of Beersheba. Katz threatened Iran’s leader Ayatollah Ali Khamenei in the wake of the hospital strike.
Katz said Israel’s military “has been instructed and knows that in order to achieve all of its goals, this man absolutely should not continue to exist,” referring to Khamenei.
JPMorgan warned on Wednesday that regime change in a major oil producing country like Iran could have a profound impact on global oil prices. Iran is one of the top producers in OPEC.
“If history serves as a guide, further destabilization of Iran could lead to significantly higher oil prices sustained over extended periods,” Natasha Kaneva, head of global commodities research at JPMorgan, told clients in a note.
Supply losses in the wake of a regime change “are challenging to recover quickly, further supporting elevated prices,” Kaneva said.