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 rose 2% Friday but ended the week down more than 3%, as rising inflation rates stoked fears of lower demand.
Oil prices continued to fall Monday, suppressed by demand concerns stemming from mass COVID-19 testing in China. WTI futures were down 2.3% at $102.30/bbl, Brent was down 1.8% at $105.10/bbl, and U.S. natural gas was up 7.1% at $6.47/MMBtu.
The average U.S. gasoline price saw its biggest single-day drop in more than a decade on Friday, falling by 3.1 cents to $4.721 a gallon, according to AAA. Ten states still have prices over $5 a gallon.
U.S. energy firms added two active oil rigs last week, the fifth weekly gain to a total of 597, the highest since March 2020.
Russia’s Gazprom will further cut gas deliveries to Italy by about one-third to 21 million cubic meters per day, after having already cut supplies in half since June.
European benchmark natural gas futures are up 20% over the past week and 100% over the past month, as doubts grow over Russia’s promise to deliver more gas once it takes delivery of a key pipeline part from Canada.
Gulf producers Saudi Arabia and the UAE may have substantially less spare capacity than official figures show, lessening the chance they could make up for Russian crude lost from the global market due to sanctions.
Rolls Royce is among the winners of over $65 million in U.K. government funding to advance carbon-removal technology.
The wildfire in California’s Yosemite National Park doubled in size over the weekend to 2,044 acres with zero containment.
Rogers Telecommunications, one of Canada’s biggest telecom operators, suffered a 19-hour service outage over the weekend that shut banking, transport and government access for millions of people.
The shipping market is starting to trend in favor of importers, with some companies renegotiating agreements they struck at the height of the pandemic and dipping into the spot market to take advantage of lower rates.
A tenth of container ships were non-operational on the container market in May due to delays and bottlenecks in supply chains and ports, according to Sea-Intelligence.
Long-term rates to ship goods from China to the U.S. West Coast almost tripled between June 2021 and June 2022 to $7,981 per container, according to data firm Xeneta.
CMA CGM will cut freight contract rates for French customers by 10% on Aug. 1, a response to the government’s calls for price cuts to help inflation-hit consumers.
Close to 20% of supply-chain executives surveyed by consulting firm McKinsey & Co. said they had brought some production back to a nearby country in the past year, double the number from a year earlier.
Total COVID-19 hospitalizations in Florida hit 4,172 late last week, the most since mid-February. While active COVID-19 cases eased there last week, the state has logged 1,271 virus deaths since June 1, the highest in the nation.
California’s COVID-19 positivity rate has doubled over the past five weeks to 16.7%.
Concerns over inflation and consumer demand will dominate the corporate-earnings season that kicks off this week, with reports due from big names like JPMorgan Chase, BlackRock, PepsiCo and Delta Air Lines.
U.S. non-farm payrolls data showed the economy added more jobs than expected (+372,000) in June, a sign of persistent labor market strength. Overall employment is now just 0.3% off pre-pandemic levels, with most gains in the private sector.
European regulators are following their U.S. counterparts in paving the way for updated COVID-19 vaccines to be used this fall, specifically to target the Omicron variant.
The BA.2.75 Omicron variant gaining ground in India and other parts of the world is raising concerns among scientists due to its ability to evade protection offered by COVID-19 vaccines and prior virus infection.
More news related to the war in Europe:
Ukrainian consumer prices surged 21.5% in June, the fastest pace in six years, driven by rising prices for fuel and food.
Ukraine International Airlines, grounded by the war, is reopening in Poland to offer flights for Poles to holiday destinations.
China’s annual inflation rate hit a larger-than-expected 2.5% in June, the fastest pace in almost two years. Meanwhile, the nation’s producer price index cooled in June to 6.1% year over year, the lowest in 15 months.
Moody’s cut Mexico’s credit rating by one notch to “Baa2,” citing weak investment prospects.
Canadian unemployment fell to 4.9% in June, a record-low dating back to 1976.
Argentinian inflation surged as much as 20% in a single day last week after the nation’s economic minister resigned, worsening the nation’s financial turmoil.
Sri Lanka’s prime minister resigned Saturday as the island’s worst financial crisis in decades spills into civil and political disruption.
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.