Beef, pork, and chicken in US cold storage warehouses have yet to recover from pandemic lows and could continue to support higher prices.
New United States Department of Agriculture (USDA) data shows beef reserves dropped 7.7% from a year ago in August, poultry supplies fell 20%, and pork plunged 44% to their lowest levels since 2017, according to Bloomberg.
Oil giant BP said on Thursday it was having to temporarily close some petrol filling stations in Britain because of a lack of truck drivers, hours after a junior minister cautioned the public not to panic buy amid fears of food shortages.
Investors were left in the dark after troubled property giant Evergrande missed a deadline for a $83.5m (£61m) interest payment.
The Chinese firm is yet to make an announcement regarding the payment, which was due on Thursday. Earlier in the week, the company said it had struck a deal over another interest payment worth $35.9m. Global markets have been rocked by concerns over the firm’s ability to support its more than $300bn of debts.
Costco confirmed it will start limiting purchases on essential household products for what has become a perfect storm of supply chain delays for many retailers.
“We are putting some limitations on key items like bath tissues, roll towels, Kirkland Signature water, high demand cleaning-related skews related to the uptick in the delta-related demand,” Costco chief financial officer Richard Galanti said during the company’s fourth quarter earnings call.
People should carry on buying petrol as normal, despite supply problems that have closed some stations, the government has said.
A “handful” of BP stations, and a small number of Esso-owned Tesco Alliance stations, were closed on Thursday because of a lack of delivery drivers. But Transport Secretary Grant Shapps said refineries had “plenty of petrol”. He told the BBC that the government could bring in the army to drive fuel tankers if it would help. It is estimated that the UK is short of about 100,000 HGV drivers – with gaps made worse by the pandemic and Brexit.
The young boss of a collapsed energy company that has left more than 580,000 families fearing higher bills this winter is at the heart of a web of firms that appear to have led to his family earning millions of pounds.
State major PetroChina and private refiner Hengli Petrochemical (600346.SS) on Friday won four cargoes totalling about 4.43 million barrels, or 60% of the total oil offered in China’s first state reserves auction, industry sources said.
Police have arrested 17 people as Insulate Britain protesters sit in the road to block the Port of Dover – with demonstrators calling for a “Churchillian response” to the “urgent horror” of the climate crisis.
More than 40 people in two groups have blocked the A20 at the Eastern Docks roundabout and near the junction with Union Street for the Western Docks, Insulate Britain has said.
The Centers for Disease Control and Prevention on Thursday endorsed booster shots for millions of older or otherwise vulnerable Americans, opening a major new phase in the U.S vaccination drive against COVID-19.
CDC Director Dr. Rochelle Walensky signed off on a series of recommendations from a panel of advisers late Thursday.