Tag: supply

New Vehicle Supply to Australia Cannot Keep up With Demand

Australia’s peak body for the automotive industry has released new vehicle sales figures for June 2022, which, at 99,974 vehicles sold, show a 9.7 percent decline compared with June 2021. Federal Chamber of Automotive Industries (FCAI) chief executive Tony Weber said in a release on Tuesday that a combination of disrupted manufacturing due to the…


Oil Steady as Fuel Stocks Counter Supply Concerns

LONDON—Oil prices were largely steady in volatile trading on Thursday as the market weighed concerns over global supply against a build in U.S. fuel product inventories. Brent crude futures for September, the more actively traded contract, were up 28 cents, or 0.3 percent, at $112.73 a barrel by 0911 GMT. The August contract, which expires…


US Power Companies Face Supply-Chain Crisis This Summer

U.S. power companies are facing supply crunches that may hamper their ability to keep the lights on as the nation heads into the heat of summer and the peak hurricane season. Extreme weather events such as storms, wildfires, and drought are becoming more common in the United States. Consumer power use is expected to hit…


Boeing Expects Supply Chain Problems to Last Through Most of 2023

DOHA—Boeing expects supply chain problems to persist almost until the end of 2023, led by labor shortages at mid-tier and smaller suppliers, partly due to the faster-than-expected return of demand, its chief executive said on Wednesday. Boeing said last month that production of its 737 aircraft had been slowed by shortages of a single type…


Oil Prices Climb on Supply and Demand Fundamentals

LONDON—Oil prices rose on Tuesday on high summer fuel demand while supplies remain tight because of sanctions on Russian oil after its invasion of Ukraine. Brent crude rose $1.61, or 1.4 percent, to $115.74 a barrel by 0825 GMT. U.S. West Texas Intermediate (WTI) crude for July, which expires later on Tuesday, rose $2.29, or…


Russia’s Supply Ship Arrives at International Space Station

MOSCOW—A Russian cargo spacecraft docked Friday at the International Space Station, delivering nearly three tons of supplies to its crew. A Soyuz rocket carrying the uncrewed Progress MS-20 ship blasted off as scheduled from the Russia-leased Baikonur Cosmodrome in Kazakhstan. The spacecraft smoothly docked at the space outpost about 3.5 hours after the launch. It…


US Wheat Crop Hit by Dry Winter Then Soggy Spring, Adding to Global Tightness

North Dakota farmer Dwight Grotberg wanted to plant more wheat this spring to capitalize on soaring prices since Ukraine’s war cut grain exports and left the world short of millions of tons of wheat supply. Heavy rain has prevented Grotberg from planting as much wheat crop as he wanted and is hampering farmers across the…


Average Age of US Cars Hits Record High Due to Tight Supplies: Report

U.S. consumers are using their existing vehicles for longer as the inventory of new cars and light trucks remains constrained due to supply chain challenges, marking an all-time high for the average age, according to a report from S&P Global Mobility. The average age of light vehicles in operation (VIO) in the United States rose…


Oil Rebounds on China Demand Concerns in See-Saw Trading

LONDON—Oil prices rose modestly in volatile trading on Tuesday as the market weighed concerns over Russian supply and Chinese demand. Brent crude futures were up 41 cents, or 0.4 percent, at $102.73 a barrel at 1117 GMT, while U.S. West Texas Intermediate contracts were up 18 cents, or 0.2 percent, at $98.72 per barrel. Both…


Oil Rises as Investors Focus on Lower Supply From Russia, Libya

LONDON—Oil prices rose on Thursday amid concerns about supply as the European Union (EU) mulls a potential ban on Russian oil imports days after diminished supplies from Libya rocked the market. Brent crude futures rose $1.13, or 1.1 percent, to $107.93 a barrel at 1228 GMT. U.S. West Texas Intermediate (WTI) crude futures gained 81…