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Agricultura | Gás natural | Petróleo | Metais | Produtos petroquímicos

Market Movers Americas, Aug 15-19: New budget bill causes a stir in energy sector, as economic slowdowns impact plastics

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Assistir: Market Movers Americas, Aug 15-19: New budget bill causes a stir in energy sector, as economic slowdowns impact plastics

  • Apresentando
  • Maria Marfani
  • Commodity
  • Agricultura Gás natural Petróleo Metais Produtos petroquímicos
  • Comprimento
  • 01:35

In this week's Market Movers Americas, presented by Maria Marfani:

• Congress pushes through historic climate investment

• Global HSFO market adjusting to additional Russian sanctions in Europe

• R-PET market keeps eyes on falling bales

• US steel market monitors labor talks

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This week,

US clean energy industries are setting their sights on maximizing benefits from a historic budget reconciliation bill that will allow for a $370 million budget for climate and energy spending. The US oil and gas industry has slammed the Inflation Reduction Act, saying the taxes and further regulation would undermine global energy security and domestic production. Refiners are particularly interested in the sustainable aviation fuel credit, which is expected to close the price gap between SAF and renewable diesel.

US high sulfur fuel oil is seeing increased volatility due to new EU sanctions on Russia. With Europe no longer accepting Russian HSFO, value of the product has jumped in Europe and is expected to do the same in the US.

The recycled plastics market is watching drops in bottle bale pricing as supply lengthens and offtake declines. Buyers in the fiber industry are said to be in wait-and-see mode as bale prices fall and as the construction and housing sectors appear to be slowing down.

The US steel market is continuing to monitor ongoing discussions between the United Steelworkers Union and various North American steelmakers. Contract negotiations with Canadian producers Stelco and Algoma remain at an impasse, while talks are ongoing with US companies Cleveland-Cliffs and US Steel.

I'm Maria Marfani. Thank you for kicking off your Monday with S&P Global Commodity Insights.