Market Expertise: M. Holland offers a host of resources to clients, prospects and suppliers across nine strategic markets.
Supply
Oil prices settled lower Friday but notched their first weekly gain in three weeks on fears that new European sanctions will tighten global supplies.
In mid-morning trading today, WTI futures were down 0.9% at $79.26/bbl, Brent was off 0.7% at $84.97/bbl, and U.S. natural gas was down 7.2% at $5.83/MMBtu.
Average U.S. gasoline prices have fallen 30% from record highs to $3.43 per gallon last week. Prices are below $3 per gallon in seven states.
Active U.S. oil and gas rigs, an indicator of future output, were flat last week, according to Baker Hughes.
New data shows U.S. shale output gains are slowing while executives from some of the largest shale companies warn of future declines from overworked oilfields and less productive wells.
European power prices are rising as cold weather sets in and normally abundant supplies from French nuclear reactors decline.
Japan is targeting imports of at least 840,000 tons of LNG per year to create a strategic buffer against an energy crunch.
Norwegian producer Aker raised its spending targets by 20% to a total of $19 billion for developing new projects offshore Norway by 2028.
Canada’s TC Energy, which once spearheaded the effort to build the Keystone oil pipeline, is preparing to unload $3.7 billion of assets next year outside of its core gas business.
Shipping companies have snapped up dozens of used oil tankers this year that some experts fear will become part of a “shadow fleet” of ships attempting to carry Russian crude and evade sanctions.
The first round of negotiations on a global plastics treaty ended last week without agreement on key enforcement measures. Over 2,000 delegates from 160 countries will continue meeting to craft the first legally binding agreement on plastic pollution by the end of 2024.
Supply Chain
Container volume from China to the U.S. is down 21% since August due to a collapse in factory orders, which could prompt Chinese manufacturers to shut down early for the Chinese New Year.
Trucking jobs in the U.S. rose modestly in November, while warehouse jobs shrank and are now 63,500 below their June peak and lower than the level of January.
Three years of pandemic disruptions and Russia’s war in Ukraine are completely revamping global supply chains and potentially making them more reliable, experts say.
In the latest news from the auto industry:
Ford’s electric vehicle sales more than doubled year over year in November, while its overall unit sales were down 7.8%.
GM and LG Energy will invest another $275 million in their Tennessee battery-cell joint venture to boost production by more than 40%.
Renault and Nissan scrapped this week’s planned announcement of a deal to restructure their auto alliance.
The U.S. daily average of new COVID-19 infections was up 22% last Thursday from two weeks earlier, while hospitalizations were up 21% and 40 states reported rising case counts.
Delta Air Lines reached a tentative deal to boost pilot wages by 34% over the next four years, setting a bar for other carriers negotiating with pilots.
Boeing could lose up to $50 billion in orders if it fails to persuade lawmakers to lift a Dec. 27 deadline to upgrade cockpit-alerting systems.
Euro zone producer prices fell by a larger-than-expected 2.9% from September to October, bolstering predictions that inflation may have peaked. Prices were up 30.8% year over year:
The euro zone’s unemployment rate dropped to a record-low 6.5% in October, holding up well despite forecasts for a bloc-wide recession.
The European Central Bank is expected to start offloading some of its $5.3 trillion of bond holdings next year as part of quantitative tightening used to cool credit and investment.
German exports fell a larger-than-expected 0.6% in October as inflation and supply-chain snags hit demand in its key trading partners.
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.