Crude oil prices have unquestionably crashed through their two-year downtrend. The price of West Texas Intermediate bottomed out last April and has moved consistently higher since October, reaching $60.31 per barrel in the latest trading. This last push coincides with the reopening of more fracking ... READ MORE >
Industrials
3 things to know this week in energy: Suez Canal blockage, oil field deals, carbon pricing
This past week’s blockage of the Suez Canal registered briefly in the oil market before the ship was freed, several high-profile oil field deals are expected soon, and the Supreme Court of Canada recently ruled carbon pricing constitutional. Biweekly, we round up news and analysis about three things ... READ MORE >
CHART OF THE DAY: Rational exuberance and the RSM US Manufacturing Outlook Index
The manufacturing sector is signaling extreme confidence in a rapid end to the pandemic-induced economic shutdown and to the global manufacturing recession that preceded it. From our vantage point, this reaffirms our robust growth outlook of a 7.2% economic expansion for this year and our ... READ MORE >
CHART OF THE DAY: U.S. durable goods orders stall
Orders for long-lasting factory goods decreased for the first time in 10 months in February, according to U.S. Department of Commerce data released on Wednesday. New orders for durable goods fell 1.1% to a seasonally adjusted $254 billion in February, compared with January, while new orders for ... READ MORE >
CHART OF THE DAY: Rail deal is a sign of increasing North American economic integration
One of our major macroeconomic narratives for this year is the easing of trade tensions among major North American trading partners, and Canadian Pacific’s $25 billion deal to purchase Kansas City Southern marks a significant move in this direction. The deal would create the first railroad network ... READ MORE >
3 things to know in energy: OPEC+ cuts, U.S. oil exports to India rise, carbon trading in Canada
OPEC+ surprised some in the energy market with its recent decision to extend oil production cuts, the United States is now India’s No. 2 oil supplier, and Canada’s government is embarking on creating a federal carbon trading marketplace. Biweekly, we round up news and analysis about three things going ... READ MORE >
3 things to know this week in energy: Texas’ grid, oil prices and Canadian crude-by-rail exports
All eyes remain on Texas and the state’s energy grid operator in the aftermath of a devastating winter storm, oil prices responded positively to the U.S. House passing a new COVID-19 relief bill, and Canadian crude-by-rail exports are rebounding after a rough 2020. Biweekly, we round up news and ... READ MORE >
Top energy trends for oil and gas companies to watch in 2021
The energy industry faced unprecedented volatility in 2020 and operators were forced to react and adapt to a low-price environment. In 2021, many of those challenges remain as the pandemic continues and the years-long push toward the energy transition accelerates. Oil, gas and other energy companies will ... READ MORE >
The impact of Brexit on U.S. manufacturing companies
While Britain voted to leave the EU in 2016 and companies had about four years to prepare for the change, there was not much clarity on what Brexit would mean for companies until Dec. 24, 2020, when the post-Brexit trade deal—the UK-EU Trade and Cooperation Agreement—was finalized. Plenty of questions ... READ MORE >
U.S. industrial production growth continues
The Federal Reserve said on Wednesday that its index of industrial production, a measure of output at factories, mines and utilities, rose last month as output continued to recover from the depths of the economic shutdown last spring. Total production rose 0.9% in January, following an increase of 1.3% ... READ MORE >