Oil prices rose more than 1% Wednesday to their highest levels in a month. Futures extended gains in late morning trading, with WTI up 2.7% at $79.94/bbl and Brent up 2.1% at $82.47/bbl. U.S. natural gas was 0.4% lower at $3.87/MMBtu.
U.S. crude stockpiles fell 2.14 million barrels last week, the sixth straight week of declines, according to the Energy Information Administration.
The $3.01/gallon U.S. retail price for gasoline last year was the highest since 2014, new data shows, the result of a steady rise for most of the year:
With resin supply improving and most 2021 force majeures lifted, we are ending our force majeure link. Please contact your M. Holland account manager if you have questions concerning availability of specific products.
Freight hubs in the Northeast could see further disruptions from winter weather in coming days after a storm slammed the region and mid-Atlantic earlier this week. Supply chain managers should expect ongoing disruption from severe weather events in the years ahead due to climate change.
One of California’s largest utilities has been found responsible for the state’s second largest wildfire last summer, regulators said. It is unclear whether criminal charges will be filed.
Activity in the transportation, logistics and warehousing sectors remained strong in December despite a modest slowdown from the previous month, an index of logistics managers shows.
The Shanghai Containerized Freight Index for shipping rates out of Shanghai hit 5,046.66 for the week ending Dec. 31, the first time the pricing measure has surpassed 5,000.
One in three people who test for COVID-19 in Tennessee are positive, the state’s highest rate of the pandemic.
Massachusetts’ COVID-19 positivity rate rose to 21.6% Tuesday, the highest since April 2020, as the state saw more than 45,000 breakthrough infections the past week. The state’s hospitals are nearing full ICU bed capacity, officials report.
Canadian auto supplier Magna International will set up a new electric vehicle center at its U.S. headquarters in Michigan in preparation for the launch of its electric powertrain system for trucks in 2025.
BlackBerry cut the network capabilities of its cell phones earlier this week, the final step in the demise of a once-ubiquitous business device as the company completes its pivot to making security software for corporations and governments.
France and Italy reported record new COVID-19 infections Wednesday, pushing new daily cases across the EU over 1 million for the first time.
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