[MUST READ] U.S./China sanctions lessons
Russia’s crude is likely selling above quoted prices
Russia’s oil output unaffected by sanctions ($BBG)
U.S. SPR to sell 26 million barrels in second quarter
U.S. coal-fired generator retirements to accelerate
Russia’s gas exports in search of new markets
Global freight rates fall on excess capacity ($BBG)
High-altitude balloon monitoring systems ($WSJ)
Pakistan plans to shift from costly gas back to coal
Hedge funds cash in on coal investments ($FT)
Singapore slows new investment into China ($FT)
U.S. DURABLE GOODS orders for nondefense capital equipment excluding aircraft (a proxy for business investment) were up by +5 % in December 2022 compared with December 2021. Orders are reported in cash terms; with inflation running faster than 5%, the volume of new business was down in real terms. Even in nominal terms, however, orders have been flat since the middle of 2022, confirming the merchandise side of the economy has run out of momentum:
JKempEnergy.com 