Market Expertise: M. Holland offers a host of resources to clients, prospects and suppliers across nine strategic markets.
Supply
Oil rose 3% Thursday after the EU floated a $60/bbl price cap on Russian crude, a move that could prompt Russia to cut production, tightening global supply.
In mid-day trading today, crude futures were marginally lower, with WTI at $79.89/bbl and Brent at $85.29/bbl. U.S. natural gas was down 4.8% at $6.41/MMBtu.
U.S. LNG exports were flat in November as the arrival of colder weather led utilities to build up inventories for domestic use.
On Thursday the EPA proposed an overhaul of decades-old rules that would force refiners to blend more biofuels into their products and, for the first time, incorporate electricity generated from biomass into blending calculations.
More oil news related to the war in Europe:
The EU executive body’s recommended $60/bbl price cap on Russian oil is well below international benchmarks and will need signoff from all 27 member states as well as G7 nations ahead of Monday’s deadline for implementation.
Hurricane Ian and other natural disasters caused some $115 billion of insured losses so far this year, well above the 10-year average.
Average U.S. diesel prices dropped to $5.14 per gallon last week, the lowest in two months.
Congress on Thursday passed legislation to force a labor deal and avert a crippling U.S. rail strike, with the measure now sent to the president for approval ahead of next week’s strike deadline.
FedEx will begin a voluntary furlough program Sunday, offering drivers a $300 weekly stipend and a guaranteed return to work in March.
The U.S. administration is open to tweaking its latest incentive laws in a bid to give European firms more access to domestic semiconductor and renewables markets.
The U.S. reported 116,258 new COVID-19 infections and 611 virus fatalities Thursday.
The U.S. added a greater-than-expected 263,000 jobs in November, leaving the unemployment rate at a low 3.7% and causing concern the Federal Reserve will extend its historic pace of interest rate increases.
First-time jobless claims fell by 16,000 to a total of 225,000 last week, indicating continuing strength in labor markets. Recurring applications, meanwhile, hit their highest level since February, suggesting out-of-work Americans are having more trouble finding jobs.
Prices of U.S. services excluding housing and energy — a key indicator of future inflation — rose just 0.3% in October, the smallest increase in months.
The Institute of Supply Management’s manufacturing index fell below 50 in November, indicating manufacturing activity shrank for the first month in 2.5 years.
At the same time, a measure of input prices paid by factories fell for a second month, supporting views that inflation is cooling.
Chinese cities are running out of funding to support mass testing and quarantine enforcement under the nation’s zero-Covid policy.
New data suggests China’s COVID-19 vaccine drive stalled as officials directed more resources to mass testing and quarantine programs in a bid to keep cases at absolute zero.
Global economic growth could fall below 2% next year due to continued impacts from the war in Ukraine, the IMF says.
The collective debt service of the world’s low-income nations rose 35% the past year, increasing the risk of defaults, according to the World Bank.
A five-month downturn in euro-zone manufacturing activity eased in November, with S&P Global’s purchasing managers’ index rising from 46.4 to 47.1. A reading below 50 indicates industry contraction.
British manufacturing activity fell for a fourth month in November as businesses faced the weakest overseas demand in 2.5 years.
British businesses said they raised prices by 7.2% on average in the 12 months to November, the smallest amount since April in a positive sign for inflation.
South Korea’s consumer prices rose 5% in November from a year earlier, the slowest pace since April.
Mexico will raise its minimum wage by 20% to $10.50 a day beginning in 2023, the fifth annual double-digit hike in as many years.
Brazil’s economy rose by just 0.4% in the third quarter as higher interest rates impacted household spending. The nation’s trade with China is beginning to ramp up.
Executives say European budget airlines are set for strong bookings this winter as travelers prepare to fly with zero COVID-19 restrictions for the first time in three years.
We and selected third-parties use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL third-party cookies. For more details about cookies and how we use them, read the full Data Privacy Policy.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience. For more details about cookies and how we use them, read the full Data Privacy Policy.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checkbox-advertisement
1 year
Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category .
cookielawinfo-checkbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Cookie
Duration
Description
__cf_bm
30 minutes
This cookie, set by Cloudflare, is used to support Cloudflare Bot Management.
bcookie
1 year
LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID.
bscookie
1 year
LinkedIn sets this cookie to store performed actions on the website.
lang
session
LinkedIn sets this cookie to remember a user's language setting.
lidc
1 day
LinkedIn sets the lidc cookie to facilitate data center selection.
UserMatchHistory
1 month
LinkedIn sets this cookie for LinkedIn Ads ID syncing.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Cookie
Duration
Description
_ga
2 years
The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors.
_ga_S6SF7JZ2WY
2 years
This cookie is installed by Google Analytics.
_gat_UA-7828007-1
1 minute
A variation of the _gat cookie set by Google Analytics and Google Tag Manager to allow website owners to track visitor behaviour and measure site performance. The pattern element in the name contains the unique identity number of the account or website it relates to.
_gcl_au
3 months
Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services.
_gid
1 day
Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously.
CONSENT
2 years
YouTube sets this cookie via embedded youtube-videos and registers anonymous statistical data.
vuid
2 years
Vimeo installs this cookie to collect tracking information by setting a unique ID to embed videos to the website.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Cookie
Duration
Description
_fbp
3 months
This cookie is set by Facebook to display advertisements when either on Facebook or on a digital platform powered by Facebook advertising, after visiting the website.
fr
3 months
Facebook sets this cookie to show relevant advertisements to users by tracking user behaviour across the web, on sites that have Facebook pixel or Facebook social plugin.
IDE
1 year 24 days
Google DoubleClick IDE cookies are used to store information about how the user uses the website to present them with relevant ads and according to the user profile.
personalization_id
2 years
Twitter sets this cookie to integrate and share features for social media and also store information about how the user uses the website, for tracking and targeting.
test_cookie
15 minutes
The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies.
VISITOR_INFO1_LIVE
5 months 27 days
A cookie set by YouTube to measure bandwidth that determines whether the user gets the new or old player interface.
YSC
session
YSC cookie is set by Youtube and is used to track the views of embedded videos on Youtube pages.
yt-remote-connected-devices
never
YouTube sets this cookie to store the video preferences of the user using embedded YouTube video.
yt-remote-device-id
never
YouTube sets this cookie to store the video preferences of the user using embedded YouTube video.
yt.innertube::nextId
never
This cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen.
yt.innertube::requests
never
This cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen.