April 8, 2022 • Posted in Daily Bulletin

MH Daily Bulletin: April 8

News relevant to the plastics industry:

At M. Holland

  • M. Holland has launched a new Healthcare Packaging line card to meet the product needs of medical device and pharmaceutical packaging manufacturers.
  • M. Holland’s Color & Compounding experts shared insight on the current pigment shortage and how it’s impacting the industry.
  • M. Holland will be exhibiting at MD&M West in Anaheim, California, from April 12-14. MD&M West is the largest medtech conference in the U.S. If you’re attending, please stop by Booth #4111 to meet our Healthcare experts!
  • In case you missed it, watch M. Holland’s Plastics Reflections webinar about the current and future state of the North American plastics industry. Click here to access the recording.
  • M. Holland’s 3D Printing group offers a rapid response alternative for producing selected parts where resin availability is tight. For more information, email our 3D Printing team.
  • Market Expertise: M. Holland offers a host of resources to clients, prospects and suppliers across nine strategic markets.


  • Oil prices fell half a percent Thursday, extending weekly losses amid uncertainty that the eurozone will be able to effectively sanction Russian energy exports. 
  • In mid-morning trading today, WTI futures were up 0.3% at $96.32/bbl, Brent was up marginally at $100.60/bbl, and U.S. natural gas was off 0.7% at $6.32/MMBtu.
  • Global oil supply disruption from Russia’s invasion could reach 5 million bpd, on top of the 2.2 million bpd of pandemic output curbs that OPEC+ has yet to return to the market. 
  • Household electricity bills in the U.S. rose by $5 per month to average $122 in 2021:
  • The ramp-up of oil production in Canada’s Alberta province is being held back by a lack of skilled workers
  • British officials are asking the nation’s central bank to reverse a new push for green energy projects in favor of building more oil capacity in the North Sea. 
  • Canada’s federal government approved this week a $12 billion Equinor-backed plan to build a floating offshore oil project in the Atlantic’s Flemish Pass near the coast of Newfoundland. 
  • More oil news related to the war in Europe:
    • The EU agreed by a narrow margin last evening to ban Russian coal imports, a move projected to cost Russia $4.4 billion per year in lost revenue. The EU’s top diplomat said Thursday that discussions over an oil embargo will follow despite pushback from Germany, among other nations. 
    • Following Europe’s announcement, Japan said it would ban Russian coal imports
    • Russia said its oil production may decline up to 5% in April, the steepest drop since the beginning of the pandemic. Unable to sell their products and running out of storage space, some Russian refineries face imminent shutdowns
    • Cargoes of Russian Sokol crude from the Far East have sold out for next month on high demand from buyers in Asia amidst steep price discounting. 
    • The U.S. is preparing to process Jones Act waivers for crude transport as it releases oil from its strategic reserve. 
    • European energy officials met with top American industry executives in Texas yesterday to discuss boosting U.S. LNG shipments.  
    • Finland and Estonia are the latest European nations planning to cut Russian gas deliveries by jointly investing in a floating LNG terminal. 
    • Plans for a massive underwater gas pipeline from the Eastern Mediterranean to Europe could take more than a decade to build, providing little hoped-for relief for energy-starved Europe. 
    • It may now be impossible for Europe to reach its pandemic-era goal of replenishing gas stocks by 80% this year to ward off winter energy shortages.

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