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 3D Printing Market Manager, 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 ET.
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 ET.
Oil prices jumped nearly 5% Wednesday after Ukraine halted use of a major transit route for Russian gas to Europe.
In mid-morning trading today, WTI futures were up 1.0% at $106.80/bbl, Brent was up 0.6% at $108.10/bbl, and U.S. natural gas was down 0.3% at $7.62/MMBtu.
U.S. crude stocks rose 8 million barrels last week after a government release from its strategic reserves. Gasoline stocks were down by 3.6 million barrels and distillate stocks fell to a 17-year low as refiners sent more fuel products abroad.
Crude flows from the Permian Basin to the Gulf Coast will hit pre-pandemic levels by October, while the basin’s production will rise to 5.7 million bpd next year, analysts say.
The S&P 500 Energy Sector Index is up 40% so far in 2022, the best-performing segment amid sharp losses for most other equities.
A 300,000-bpd oil refinery in southeastern Malaysia resumed crude processing for the first time in two years following a deadly fire, potentially bringing some relief to the Asian refined-products market.
Libya’s oilfields are expected to soon reopen after militias agreed to lift a siege on facilities, officials said. The nation is working to secure $3 billion for an offshore project that could boost domestic production to 1.4 million bpd this year.
TotalEnergies and U.S. power company Duke Energy made combined bids of $315 million to win leases for offshore wind development off North and South Carolina yesterday.
The EU proposed strengthening its 2030 clean-energy targets with the help of $205 billion for renewables and storage projects.
More oil news related to the war in Europe:
Russia hit back at Europe late Wednesday with sanctions on 31 energy companies, including a key unit of Gazprom that Berlin took control of in April as well as the owner of the Polish stretch of the Yamal-Europe pipeline. European and British gas prices spiked more than 10% to settle four times higher than this time last year.
Supply in the U.S. logistics real estate market is at a 16-month low while rents are up 22% so far this year, according to Prologis.
Federal regulators are requiring the four largest U.S. railroads to provide six months of weekly updates on plans to restore service and rebuild workforces, after major shippers detailed challenges with rail transport at an emergency hearing last month.
Boeing continues to battle certification and production headaches across its portfolio, with 787 deliveries still likely weeks away and over 300 737 MAX jets stacked up in inventory. Emirates airline said it doesn’t expect delivery of its 787 orders until at least 2024, a year later than planned.
Party City expects to take a $7 million hit this quarter as high spot rates for helium push up the cost of filling party balloons.
Producer prices rose at an 11% annualized rate in April, the fifth straight month of double digit increases.
Initial unemployment claims rose to 203,000 last week, topping 200,000 for the first time since February.
A new survey suggests 80% of New York City employers expect to move into a hybrid work model as the pandemic eases.
The U.S. budget deficit is down $1.57 trillion so far this fiscal year, driven by record receipts from a strong economy and a slowdown in spending on pandemic programs. April’s $308 billion surplus was an all-time high:
Embattled electric vehicle startup Rivian posted $95 million in revenue, below market expectations, while the firm’s net loss quadrupled to $1.6 billion as it worked to manufacture its first vehicles. Ford unloaded over $214 million of shares in the startup while retaining a 10.5% stake as Rivian’s fourth-largest investor.
Beyond Meat shares fell over 20% Wednesday after losses nearly quadrupled to $100 million and U.S. demand continued to weaken.
U.S. casinos won more than $5.3 billion from gamblers in March, the best month ever, with quarterly financials remaining strong.
Although Shanghai officials have not formally announced any new citywide measures, residents say restrictions are tightening as more people are forced into quarantine facilities and non-essential deliveries are prohibited in more districts.
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