December is the end of a turbulent year for the PVF sector of our economy: supply-chain constraints, rising costs of material, labor shortages, escalating energy costs, international conflicts and a political environment hostile to fossil-fuel energy sources.
We are midway through the fourth quarter of the calendar year 2022. The months of November and December are not only impacted by the holidays, limiting the number of shipping days — we all will be impacted by rising fuel costs.
Oil and gas prices continue to stay high because of low inventory, low production and high demand. This summer, the United States consumed larger amounts of natural gas to meet electricity demand. Read on to discover what else is happening in the energy sector.
The month of August is the midpoint in the third quarter of 2022, with oil pricing as of this writing (mid-July) at $103.88 for WTI and $105.77 for Brent — still in the $100 range but down from record highs.