MH Daily Bulletin: May 16

May 16, 2022 • Posted in Daily Bulletin

News relevant to the plastics industry:

At M. Holland

  • Lindy Holland-Resnick, Market Manager for Packaging at M. Holland, is presenting during the upcoming Re|focus Sustainability & Recycling Summit in Cincinnati, Ohio. Her session on Developing a Sustainably Minded Staff will cover how to create a holistically sustainable company from top to bottom. If you’re attending Re|focus, don’t miss Lindy’s session on Tuesday, May 24 at 11:15 am ET.
  • 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.
  • If you’re attending the Injection Molding & Design Expo in Detroit, check out M. Holland’s speakers during the show:
    • 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.

Supply

  • Oil prices rose about 4% Friday, with WTI closing above $110/bbl for its third straight weekly rise. 
  • In mid-morning trading today, WTI futures were up 1.0% at $111.50/bbl, Brent was up 0.4% at $112.00/bbl, and U.S. natural gas was up 3.2% at $7.91/MMBtu. 
  • U.S. gasoline prices rose to an all-time high $4.45 a gallon Saturday after domestic stockpiles fell for the sixth straight week
  • Active U.S. drilling rigs rose by nine to 714 last week, 261 higher than the same time last year and the highest since April 2020. Crude production slipped for the first time in three months. 
  • France’s nuclear output could fall 25% this winter due to maintenance and repairs, cutting off a crucial supply of cheap energy to Europe. 
  • Saudi Aramco’s first-quarter profit rose 82% to a record $39.5 billion, as the firm overtook Apple as the world’s most valuable company
  • The president of the UAE, OPEC’s highly influential and third-largest producer, died last Friday. 
  • More oil news related to the war in Europe:
  • Plains All American Pipeline agreed to a $230 million settlement related to a 2015 oil spill off the California coast.  
  • Environmental groups are pressuring the U.S. EPA to address high levels of benzene pollution from refineries on the Gulf Coast. 
  • Carbon emissions could start to increase as more oil and gas assets are moved to companies without climate goals, according to a U.S. environmental group. 
  • Emissions from the U.S. energy sector rose almost 6% last year but remained about 5% lower than the pre-pandemic level of 2019:
U.S. energy-related CO2 emissions rose 6% in 2021

Supply Chain

Domestic Markets

  • The U.S. reported 30,890 new COVID-19 infections and 32 virus fatalities Sunday. 
  • It took 100 days for the U.S. to see its latest 100,000 COVID-19 fatalities, about double the time for the previous 100,000. 
U.S. Hits Grim Milestone of 1 Million Covid Deaths

International Markets

Inflation Woes Abound in Developed Nations

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