M. Holland will be exhibiting at MD&M West in Anaheim on Feb. 7-9. Stop by Booth #4115 to meet our Healthcare team and discuss how M. Holland’s line of medical-grade resins can help you develop safe and effective medical products and packaging.
Oil fell less than 1% Thursday on news that U.S. factory orders fell last month, signaling a slowing economy.
In mid-morning trading today, WTI futures were up 2.0% at $77.39/bbl, Brent was up 1.7% at $83.60/bbl, and U.S. natural gas was down 3.5% at $2.37/MMBtu.
U.S. oil refiners are dialing back operating capacity this quarter to between 85%-89%, a bid to keep profit margins high during one of the weakest demand periods of the year.
Jet fuel prices are up an average of 20% since Dec. 7, including a 77% surge on the U.S. East Coast, on swelling demand from a global rebound in travel.
ConocoPhillips saw profit more than double to $18.7 billion in 2022, joining a parade of bumper earnings from major Western producers.
Crude oil imports into Asia hit an all-time high in January, rising by 11% despite lower arrivals into China.
More news related to the war in Ukraine:
Analysts say the EU’s Feb. 5 ban on imports of Russian refined oil products, including diesel and jet fuel, will hurt Moscow more than the existing embargo on crude oil.
Ford posted a lower-than-expected $1.3 billion quarterly profit as supply disruptions outweighed strong pricing and better inventory levels at dealerships. Sales of the automaker’s electric models doubled.
After the eurozone dodged a technical recession with a 0.1% growth rate in the fourth quarter, its Purchasing Managers’ Index (PMI) rose above 50 in January, the demarcation between expansion and contraction.
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