Tag: Shanghai

Best in Energy – 7 April 2022

EU proposes ban on Russian coal from August

China/Australia coal ban as awkward precedent

IEA countries to release further 60 million bbl

Russia/China switch payments to yuan ($BBG)

Shell writes off $5 billion for exit from Russia

Shanghai quarantine facilities expand (trans.)

U.S. ethane consumption is growing

U.S. jet fuel supplies tighten ($BBG)

U.S. PETROLEUM inventories including the SPR rose by +1 million bbl last week – the first increase for 13 weeks and the first increase this year:

U.S. DISTILLATE inventories have risen by a total of +2 million bbl over the two most recent weeks after declining in 9 of the 10 previous weeks by -17 million bbl, as exceptionally high fuel prices incentivise more production and discourage consumption:

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Best in Energy – 28 March 2022

Commodity traders keep Russian exports flowing

OPEC+ officials call for increased understanding

EU carbon market operations – regulator review

IEA defers decision on energy data subscriptions

Germany’s dependence on Russian oil ($BBG)

Japan nuclear restarts win more support ($BBG)

Russia sanctions threaten LNG ship orders ($FT)

U.S. shale output limited by supply chain ($FT)

Freight costs rise in response to diesel ($WSJ)

Middle East diplomatic negotiations ($WSJ)

Shanghai financial district in lockdown (trans.)

Shenzhen relaxes coronavirus controls (trans.)

Battery storage: grid-service and load-shifting

Hedge funds position for yield curve inversion

RECESSION signals are intensifying with the two-to-ten year segment of the U.S. Treasury yield curve within 12 basis points of inverting and in the 88th percentile for all months since 1990. The U.S. economy has been in a formal end-of-cycle recession as defined by the National Bureau for Economic Research for just over 9% of the time since 1990:

U.S. OIL producers have added drilling rigs at a rate of just over 4 per week since the start of the year, essentially the same rate since August 2020, but slower than during the previous recoveries after price slumps in 2015/16 and 2008/09:

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