Establishing corporate sustainability goals and using reporting platforms are quickly becoming an expectation from every stakeholder in the plastics industry. Click here to read how M. Holland is working with more and more customers every year to incorporate sustainable materials into plastic products and further environmentally friendly practices.
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Oil rose 2% Tuesday on hopes that the Federal Reserve might ease up on rate hikes at its next meeting in May.
In mid-morning trading today, WTI futures were up 1.4% at $82.68/bbl, Brent was up 1.5% at $86.85/bbl, and U.S. natural gas was down 2.1% at $2.14/MMBtu.
U.S. crude stocks unexpectedly rose by 377,000 barrels last week, according to estimates from the American Petroleum Institute. Government data is due today.
The Energy Information Administration expects crude supply to outstrip demand this year and next, despite production cuts by OPEC+.
Exxon Mobil’s reported interest in acquiring Pioneer Natural Resources signals that producers in the Permian Basin, the hottest U.S. oilfield, are set to bulk up through acquisitions.
Global demand for oil could see a small boost as France restarts the last of four refineries shuttered by a month-long worker strike.
Russia’s current-account surplus plunged by an annual $51 billion in the first quarter amid slowing oil revenues. Separate data showed the nation’s crude exports falling to a multi-month low last week.
U.S. utility Dominion Energy plans to buy Longroad Energy’s 108 MW solar project in Virginia, which could power up to 17,000 households.
Longshore workers at the ports of Los Angeles and Long Beach staged a work slowdown that delayed the opening of cargo terminals early this week. A strike at the West Coast ports would cost the nation $500 million per day, according to the National Association of Manufacturers.
The U.S. retail price for diesel fuel fell below $4.10 per gallon, less than the price before the Ukraine war.
U.S. spending on nonresidential construction was up 17% year over year in February as a building boom in industrial plants and infrastructure helps offset weakening home construction.
BMW says it is still on track for slightly higher sales this year even after a dip in demand in the first quarter. In a bright spot, the automaker’s electric-vehicle sales rose 83.2% the past three months.
A major U.S. transport union is opposing a request by autonomous-vehicle makers for self-driving semis to be exempted from rules requiring warning devices to be placed near trucks stopped along roadways.
The Consumer Price Index rose just 0.1% in March compared with February, better than economists expected, and was up 5.0% year over year.
Tighter bank lending, a reaction to the U.S.’s recent banking crisis, will probably slow the nation’s economic growth this year, the International Monetary Fund says.
Companies are responding to lingering labor shortages and rising wages by sending more jobs overseas that can be performed remotely.
Chinese consumer inflation rose 0.7% in March, the slowest pace since September 2021, while a decline in factory-gate prices accelerated amid persistently weak demand.
China will likely be forced to raise its retirement age in coming years as local governments run out of money just as a wave of retirements hits.
Mexico added over 420,000 jobs in the first quarter, a record for the period.
Britain is set for a shallower economic hit this year than previously thought, economists say, but is still on course to suffer the sharpest contraction among the world’s big economies at -0.3%. Economic complications are rising from continued strikes among thousands of the nation’s doctors and healthcare workers.
Airbus’ deliveries were down 11% in the first quarter, new data shows.
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