Best in Energy – 27 July 2022

[MUST READ] Germany cuts ammonia production to save gas

[MUST READ] Critical minerals recovery from waste streams

Japan strikes benchmark coal deal at $375/tonne ($BBG)

Germany to subsidise energy efficiency renovations

IMF downgrades global economy forecasts

Pakistan raises electricity prices

U.S./Russia oil price cap ($FT)

U.S. uranium import reliance

CYCLICAL INDICATORS: three of the top five stories featured on the front page of the Wall Street Journal on Wednesday are about slower sales, slower corporate earnings and slower hiring:

CATERPILLAR’s share price in the three months from May to July was down by -13% compared with the same period a year ago. The heavy equipment manufacturer’s share price has been closely correlated with the OECD’s leading economic indicator. The slump is consistent with the onset of a business cycle slowdown:

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