The queue of container ships waiting to berth at the Los Angeles/Long Beach port complex grew to a record 60 vessels as the ports remain inundated with import volumes during Continue Reading
The price of Russia’s flagship Urals grade slumped this week as Russian supply and exports are set to grow and as Iraq cuts the price of its crude for Europe. Continue Reading
The sooner Nord Stream 2 is commissioned and launched, the better chance the Russia-led gas pipeline to Germany will have to balance surging gas prices in Europe, including on the Continue Reading
The Kremlin today said that a rapid start-up of the controversial Nord Stream 2 pipeline would help to correct sky-high gas prices across Europe amid a squeeze in supply. Spokesman Continue Reading
WATCH: Natural gas and energy prices in Europe have been continuing their record-breaking run. Europe’s energy crunch has forced a major fertilizer maker to shut down two U.K. plants, the Continue Reading
Italy will introduce short-term measures to offset the expected rise in retail power prices and is working on a longer-term reform of power bills, energy transition minister Roberto Cingolani said Continue Reading
Montagne Says Economy Needs to Plan Ahead Central bankers worldwide are weighing the probability of higher inflation. Consumers around the world say they are already feeling the pinch. About 40% Continue Reading
COVID-19 deaths and cases in the U.S. have climbed back to where they were over the winter, wiping out months of progress and potentially bolstering President Joe Biden’s case for Continue Reading
Saudi Arabia’s state-owned oil giant Aramco may soon open up a massive upstream asset to foreign investment. It would be a rare move for OPEC’s top oil producer and the Continue Reading
For a long time, China’s energy policy has centered around one primary and pressing goal: to establish energy security. As the biggest importer and second-biggest consumer of oil in the Continue Reading
China’s crude oil throughput continued to fall in August, with daily runs hitting the lowest since May 2020, as a resurgence in coronavirus cases and a drastic cut in fuel Continue Reading
China’s economy weakened further last month after government measures to contain the virus curbed consumer spending. Singapore said the treatment plan for most people with breakthrough infections will be home Continue Reading
China’s first auction of oil from its strategic reserves looks relatively paltry, but the possibility of further releases is still likely to exert a powerful influence on global crude prices. Continue Reading
Nearly three-quarters of residents of countries with some of the world’s most advanced economies worry that climate change will one day create suffering in their own lives, according to a Continue Reading
China’s economic slowdown worsened in August as coronavirus outbreaks exposed lingering weakness in consumer spending and cast greater doubts over the country’s growth prospects. Retail sales rose just 2.5 percent Continue Reading
Oil prices were choppy last week, but as of this writing, have so far failed to break out of last week’s trading range. Further to that end, the oil market Continue Reading
New local COVID-19 infections more than doubled in China’s southeastern province of Fujian, health authorities said on Tuesday, prompting officials to quickly roll out measures including travel restrictions to halt Continue Reading
Senior Senate Republicans on Monday threatened to indefinitely hold up the nominations of five top Treasury Department officials if the Biden administration doesn’t blacklist the firm managing Russia’s Nord Stream Continue Reading
Germany’s federal networks regulator BNA said on Monday it would decide no later than January 8, 2022 whether it will certify Nord Stream 2 and issue an operating license for Continue Reading
Supply Lines is a daily newsletter that tracks trade and supply chains disrupted by the pandemic. Sign up here . The global shipping industry is getting its biggest payday since Continue Reading
Weaning the world off hydrocarbons to fight climate change is this generation’s biggest challenge. It is a challenge that has pushed major OECD members to adopt far-reaching strategies, such as Continue Reading
Chinese data this week will show the damage done from a widespread Covid outbreak last month that partially shut the world’s third-busiest container port and sent parts of the country Continue Reading
The furnaces and cooling towers on Capital Steel Campus in west Beijing used to spew toxic smoke. Today they’re nothing more than quaint paraphernalia decorating an 860-hectare park, which has Continue Reading
A senior U.S. envoy said on Saturday he had delivered reassurances to Ukraine and Poland on mitigating any threat posed by Russia’s Nord Stream 2 gas pipeline, but that the Continue Reading
The failure by the US to bring Covid-19 cases under control is scrambling business expectations of a rapid economic revival, forcing companies to reset plans and revise forecasts as they Continue Reading
Supply Lines is a daily newsletter that tracks trade and supply chains disrupted by the pandemic. Sign up here . The number of container ships waiting to enter the largest Continue Reading
Depleted natural gas inventories and low wind speeds have led to a surge in electricity prices across Europe, putting pressure on governments as consumers protest against surging power bills ahead Continue Reading
China to sell state crude reserves in phases via public auction Top oil importer’s producer price inflation at 13-yr high in Aug Auctions could sell off 10-15 mln bbl of Continue Reading
The world’s third-largest container carrier said it’s capping spot rates for ocean freight for the next five months, yielding to pressure from some customers and regulators concerned that global trade Continue Reading
Airlines warned Thursday of another pandemic-driven hit to profits in the months ahead, as the Delta variant interrupts a rebound in air travel. Major carriers said new travel bookings have slowed in Continue Reading
Russian energy giant Gazprom (GAZP.MM) said on Friday it had finished construction of the Nord Stream 2 gas subsea pipeline to Germany, completing Moscow’s project to increase its gas exporting Continue Reading
Remember when China vowed last year to hit peak carbon emissions in 2030 and to reach carbon neutrality in 2060? Maybe it will (spoiler alert: it won’t)… … but long Continue Reading
The U.S. economy “downshifted slightly” in August as the renewed surge of the coronavirus hit dining, travel and tourism, the Federal Reserve reported Wednesday, but the economy overall remained in Continue Reading
In this Aug. 17, 2021, file photo, patient with COVID-19 on breathing support lies in a bed in an intensive care unit at the Willis-Knighton Medical Center in Shreveport, La. Continue Reading
As Europe looks to lead the world in electric vehicle (EV) uptake, many governments are incentivizing the switch from traditionally-fuelled cars to electric alternatives, hoping to end the sale of Continue Reading
Goldman Sachs Group Inc. economists revised down their forecast for growth in the U.S. economy this year, pointing to a “harder path” ahead for the American consumer than previously anticipated. Continue Reading
When construction began on the second Nord Stream pipeline that was going to double the volume of natural gas ships to Europe—most of it to Germany—the European Union wasted no Continue Reading
European energy prices might be at record levels, but there is still room for prices to run, according to a Bloomberg analysis. Of course, natural gas prices are soaring everywhere—not Continue Reading
The Nord Stream 2 natural gas pipeline from Russia to Germany is set to be completed within days and come on stream, Russia’s Foreign Minister Sergey Lavrov said on Monday. Continue Reading
Investor confidence in the German economy declined for a fourth month in September after global supply disruptions worsened and infection rates surged, threatening to disrupt Europe’s strong recovery. The ZEW Continue Reading
European energy prices might be at record levels, but there is still room for prices to run, according to a Bloomberg analysis. Of course, natural gas prices are soaring everywhere—not Continue Reading
Business activity in Saudi Arabia last month grew at the weakest pace in 10 months as lower export demand weighed on the kingdom’s non-oil economy. A Purchasing Managers’ Index compiled Continue Reading
Sydney, the epicentre of Australia’s biggest coronavirus outbreak, is expected to see daily infections peak next week, authorities said on Monday, as they look to speed up immunisations before easing Continue Reading
Japanese automakers Honda Motor (7267.T) , Nissan Motor (7201.T) and Toyota Motor (7203.T) saw their sales in China tumble in August as a chip shortage hit vehicle production in the Continue Reading
Back in the spring, a shortage of computer chips that had sent auto prices soaring appeared, finally, to be easing. Some relief for consumers seemed to be in sight. That Continue Reading
Leaders of some of the busiest U.S. ports expect congestion snarling maritime gateways to continue deep into next year, as the crush of goods from manufacturers and retailers looking to Continue Reading
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
A consortium of Indian energy companies—including state major ONGC—is in early talks with Rosneft for the acquisition of a stake in the Russian state company’s massive Vostok oil project, the Continue Reading
U.S. climate envoy John Kerry said political tensions with China affect the outlook for climate cooperation, as top Chinese officials pushed Washington to commit to improvements in their broader relationship. Continue Reading
Australia, struggling to quell its worst wave of COVID-19, reported 1,756 infections on Saturday, another record high, and officials warned that worse is yet to come, urging people to get Continue Reading
