The U.S. reinstated the Superfund Excise Tax on July 1, 2022. It applies to chemicals and substances commonly used in the plastics industry. How is it impacting producers, distributors, importers and processors? Click here to read more.
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 about half a percent Monday on competing supply and demand pressures.
Saudi Arabia warned that OPEC could curb production to correct a recent drop in oil futures, sending prices higher in mid-morning trading today, with WTI up 3.5% at $93.49/bbl and Brent up 2.8% at $99.21/bbl.
U.S. natural gas was up 2.3% at $9.90/MMBtu in mid-morning trading, nearing its highest price in 14 years amid unceasing demand from Europe.
The average U.S. gasoline price has fallen for 70 days straight, the longest down streak since January 2015, hitting $3.892 a gallon on Tuesday, according to AAA.
The U.S. Strategic Petroleum Reserve is down to 453.1 million barrels, the lowest in 35 years, according to the Department of Energy.
Libya’s oil production rebounded to 1.211 million bpd, a level last seen before port blockades disrupted output for most of spring.
More oil news related to the war in Europe:
European gas prices surged 20% Monday after Russia unexpectedly said it would shut down the key Nord Stream pipeline for three days later this month. The news sent power prices in Germany to an all-time high above $696 per megawatt-hour.
A Kazakhstan pipeline system carrying 1% of the world’s oil through Russia partially shut down Monday due to alleged damage, adding to concerns over a plunge in European gas supplies.
China’s drought-stricken southwest extended curbs on power consumption Monday due to further losses in hydropower output and surging electricity demand. At least 62 localities saw record-high temperatures, while more firms announced cuts in output.
Unplantable farm acreage has tripled from a year ago as extreme weather, including heavy rains and record-setting drought, wreaks havoc on crops.
Over 9% of all containers were stuck on ships or terminals around the world in June, nearly five times higher than the monthly average from the prior decade, according to maritime data provider Sea-Intelligence.
The capacity size gap between the world’s largest shippers and the rest of the field is bigger than ever, according to Alphaliner. The top 10 carriers operate 21.8 million TEUs versus 2.5 million TEUs for the next 20 firms.
Over 50% of U.S. employers expect to cut jobs within the next six to 12 months, according to a survey. Meanwhile, Americans say the lowest pay level they would be willing to accept for a new job is $72,873, up 5.7% from last year.
U.S. companies borrowed 2% more in July to finance their equipment investments compared to a year earlier, a resilient sign despite higher interest rates, inflation and supply disruption.
The market for initial public offerings is on pace for its worst year in decades as stock market volatility forces more small companies to burn through cash. So far this year, IPOs have raised only $5.1 billion compared to a historical average of $33 billion and more than $100 billion in 2021.
U.S. imports from Asia by volume rose 2.5% year over year in July and were up 2.7% from June.
Total consumer spending fell 3.1% in June from a year earlier at restaurants, according to financial firm Rabobank.
Over 70% of homes for sale in Boise, Idaho, had their price cut in July, the highest share among a growing list of U.S. metros seeing housing markets cool.
Washington, D.C., will provide first-time homebuyers as much as $202,000 in interest-free loans to help with down payments and closing costs in one of the nation’s most inflated housing markets.
General Electric workers at a jet-engine plant in Alabama are campaigning to unionize in response to grievances about pay and job security.
The U.S. is expected to spend over $500 billion on climate technology and clean energy over the next decade with the recent passage of new laws focused on infrastructure, chipmaking and inflation reduction.
China reported 1,824 new COVID-19 cases Sunday, the most in nearly three months.
Japan reported over 200,000 new COVID-19 cases for the fifth straight day on Sunday, nearing all-time highs.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors.
This cookie is installed by Google Analytics.
A variation of the _gat cookie set by Google Analytics and Google Tag Manager to allow website owners to track visitor behaviour and measure site performance. The pattern element in the name contains the unique identity number of the account or website it relates to.
Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services.
Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously.
YouTube sets this cookie via embedded youtube-videos and registers anonymous statistical data.
Vimeo installs this cookie to collect tracking information by setting a unique ID to embed videos to the website.