Car Sales Slump As Chip Shortage Continues
The Automotive Monthly Metals Index (MMI) fell by 1.4% for August’s MMI reading. US auto sales Ford Motor Co. reported its August retail sales increased by 6.5% from the previous Continue Reading
1.607 million b/d of oil production offline in US Gulf of Mexico: BSEE
Highlights 88% of oil, 83% of gas still offline: BSEE Port Fourchon tenants given access to facilities Marathon, ExxonMobil restarting plants A week after Hurricane Ida made landfall, 1.607 million Continue Reading
What Are Biden’s Real Priorities For U.S. Oil?
Americans are paying the most expensive Labor Day weekend gasoline prices since 2014 amid constrained stock levels and high benchmark crude oil prices. The end of the U.S. driving season Continue Reading
U.S. employers added 235,000 jobs in August, a marked slowdown.
The American economy slowed abruptly last month, adding 235,000 jobs, a sharp drop from the huge gains recorded earlier in the summer and an indication that the Delta variant of Continue Reading
Louisianans scramble to find fuel for generators after Ida
Storm-battered Louisiana residents and area businesses, who have endured almost a week without electricity, are having trouble finding generators or fuel to power them, making it difficult for residents to Continue Reading
U.S. Hiring Slowed Sharply in August
U.S. hiring slowed sharply in August as the surging Delta variant dented the pace of the economic recovery. The U.S. economy added 235,000 jobs last month, the Labor Department said Friday, falling Continue Reading
Chip Shortage Curtails Heavy-Duty Truck Production
The semiconductor shortage is short-circuiting heavy-duty truck production as supply-chain disruptions hamper efforts to meet robust demand for new big rigs. North American production of Class 8 trucks, the big Continue Reading
U.S. job growth takes giant step back as Delta variant hits restaurants
The U.S. economy created the fewest jobs in seven months in August as hiring in the leisure and hospitality sector stalled amid a resurgence in COVID-19 infections, which weighed on Continue Reading
Biden Could Give Rare Earth Miners A Major Boost
A global shortage in semiconductor chips has been wreaking havoc on diverse sectors, including the tech, automotive, consumer electronics industries, and everything in between. After years of tepid demand, the Continue Reading
U.S. loans Exxon refinery oil from emergency reserve in Ida’s wake
WASHINGTON, Sept 2 (Reuters) – U.S. Energy Secretary Jennifer Granholm on Thursday authorized the country’s emergency oil reserve to loan 1.5 million barrels of crude to an Exxon Mobil (XOM.N) Continue Reading