M. Holland is excited to be the Headline Sponsor for the upcoming Injection Molding & Design Expo in Detroit! This two-day trade show will highlight the latest technologies, materials, equipment and opportunities in injection molding. The event is May 25-26 and admission is free. Click here to learn more.
Haleyanne Freedman, M. Holland’s Market Manager of 3D Printing, will be discussing Open Platform Adoption in Additive Manufacturing. Don’t miss her presentation in the Designing the Future Theater on Wednesday, May 25 at 4:00 pm CT.
Josh Blackmore, M. Holland’s Global Healthcare Manager, is facilitating a training seminar on Understanding Material Selection for Medical Devices, from Qualification to Approval. Mark your schedules for this session in the Training and Development Theater on Thursday, May 26 at 9:15 am CT.
M. Holland recently hosted panelists from Business Publishing International, Jabil and LyondellBasell to discuss the ongoing pandemic, material shortages, the war in Europe, supply chain issues, high inflation and more. Read a recap of the broadcast here and access the recording here.
Oil prices rose nearly 1.5% Friday, capping a second week of gains as traders prepare for the EU’s embargo plan to tighten supply.
In mid-morning trading today, WTI futures were down 4.7% at $104.70/bbl, Brent was down 4.3% at $107.60/bbl, and U.S. natural gas was down 8.1% at $7.39/bbl.
U.S. fuel prices rose twice as fast as oil prices since late February, suggesting refiners are having trouble meeting demand even as more crude becomes available through big reserve releases.
Oil majors are spending about half as much on capital expenditures as the last time prices hit $100/bbl in 2013. The U.S. is a prime example, where the nine largest producers spent 54% more on dividend increases and share buybacks than new development in the first quarter.
Canadian pipeline firm Enbridge saw better-than-expected quarterly profit and moved forward with plans to eventually deliver 9 billion cubic feet of gas per day to the U.S. Gulf Coast, more than quadruple the current amount.
More oil news related to the war in Europe:
EU foreign ministers will convene this week should member nations fail to agree on a Russian oil embargo within six months. Planners have already accommodated longer phaseout periods for Hungary, Slovakia, and the Czech Republic.
At least one German refinery warns it will face a crude shortage when new EU sanctions take effect.
India continues to ramp up purchases of discounted Russian crude, with at least seven 100,000-ton cargoes reportedly scheduled for delivery this month.
According to the Department of Energy, 86% of plastic waste in the U.S. was landfilled in 2019, 9% was burned, and just 5% was recycled.
BP entered a 10-year contract to receive the output of a planned recycling facility in the U.K. that will convert hard-to-recycle plastic waste into petrochemical products.
Wind gusts approaching 75 mph are turning otherwise manageable fires in New Mexico into record-setting blazes. The largest, the Calf Canyon fire, grew to over 170,000 acres and forced the evacuation of some communities.
The U.S. Federal Reserve said the nation’s banking system remains strong despite heightened volatility and geopolitical risk.
Shares of Netflix, Amazon and Facebook parent Meta are down over 30% this year compared to a milder 13% decline in the S&P 500, as surging pandemic growth for large tech firms deflates. All sectors of the S&P were lower in morning trading today.
U.S. manufacturing employment rose by 55,000 in April, while transportation and warehousing jobs increased by 52,000, as employment in most sectors now exceeds pre-pandemic levels.
Google is raising employee salaries and streamlining its review process to retain talent in the face of the “Great Resignation.”
COVID-19 cases in South Africa rose 50% in 24 hours on the rapid spread of two new subvariants of Omicron. The nation’s positivity rate is back near record levels around 30%.
Economists say China’s trade sector is losing momentum as COVID-19 curbs hit production and imports continue to decline. The nation’s consumer prices rose just 1.5% in March, contrasting sharply with record or near-record inflation rates in the U.S. and eurozone.
Adidas’ sales in China collapsed 35% in the first quarter, prompting a lowered outlook for 2022.