Physical oil prices soften in recent weeks
Chile’s troubled lithium industry ($WSJ)
Yield curve inversion slows bank lending
EIA’s weekly petroleum reporting system
INDIA’s coal-fired power plants have 11 days of fuel on hand, an improvement on just 7 days at the end of August 2021, but still slightly below the 13 days at the same point in 2019. The central government has prioritised replenishing fuel stocks to avert a repeat of the power shortages and blackouts that hit the country in October 2021:
U.S. FREIGHT SHIPMENTS accelerated in June after slowing slightly in May. Freight volumes were up +4.6% in June compared with the same month a year earlier. Volumes advanced at the same annualised rate of +4.6% in the most recent three months from March to June. The strong growth was surprising since other manufacturing indicators pointed to a slowdown in activity during the second quarter:
U.S. PETROLEUM INVENTORIES including the strategic reserve rose by +8 million bbl last week, one of the largest weekly increases in the last two years. There were increases in stocks of commercial crude (+5 million bbl), distillate fuel oil (+2 million), propane (+2 million) and other oils (+8 million) partially offset by reductions in jet fuel (-1 million), gasoline (-5 million) and strategic crude stocks (-5 million):
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