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US oil under threat

US oil under threat

Bank of Japan warns of global impact from chip shortage, Asian factory closures.

  • Hurricane Ida made landfall near Port Fourchon, land base for the Louisiana Offshore Oil Port (LOOP), the largest privately-owned crude terminal in the United States.
  • Bank of Japan: the #semiconductor shortage may persist for the rest of 2021 if lockdowns keep Southeast Asian factories shut
  • China's #FX market jumped to 21.32 trillion yuan or $3.29 trillion in July, up from 20.33 trillion yuan in June.

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