September 27, 2022 • Posted in Daily Bulletin

MH Daily Bulletin: September 27

News relevant to the plastics industry:

At M. Holland


  • Oil fell 2.5% Monday, settling at the lowest level in nine months after central banks around the world hiked interest rates, threatening demand.
  • In mid-morning trading today, WTI futures were up 2.7% at $78.78/bbl, Brent was up 2.8% at $86.42/bbl, and U.S. natural gas was down 0.6% at $6.87/MMBtu.
  • The average U.S. gasoline price rose 3.2 cents to $3.67 a gallon Monday, the first increase in 14 weeks.
  • At 12.1 million bpd, U.S. oil production remains nearly 1 million bpd below the monthly record set in November 2019. 
  • U.S. exports of petroleum products jumped 11% to a record 6 million bpd in the first half of 2022, the fastest growth in five years.
The United States exported record amounts of petroleum products in the first half of 2022
  • China’s solar capacity rose 1.9% in August, putting it on track to overtake the nation’s wind power generation by the end of this year.
  • Britain’s new government says it will review the country’s 2050 net-zero plan amid recent challenges to energy security.
  • Australia’s new government is setting the nation up to be the next big market for offshore wind developers, with recent investment interest coming from Shell, Orsted and Equinor. 
  • Skyrocketing LNG cargo prices have squeezed out smaller traders, concentrating business in a handful of energy majors and top global trading houses in a trend that could last until 2026.
  • More oil news related to the war in Europe:
    • European gas prices have fallen 50% from record highs last month as the continent builds gas inventories ahead of schedule.
EU Natural Gas

Supply Chain

United States Dallas Fed Manufacturing Index

Domestic Markets

International Markets

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