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.
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.
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.
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:
Russia halted electricity exports to Finland after the nation said it would apply to join NATO this week. Finnish officials say Russian electricity accounts for about 10% of domestic consumption.
A ban on major trading houses dealing with Russian oil firms took effect Sunday.
Russian diesel exports fell by 14% last month, exacerbating global shortages.
Russia’s exports of naphtha — a key ingredient for producing plastics and gasoline — hit a six-year low in April, threatening higher gasoline prices in top importer Europe.
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:
“Friend-shoring” is supplanting “near-shoring” as a way to better control supply chains while reducing reliance on countries with autocratic governments and nonmarket economies.
Intel expects the global chip shortage to last into 2024, a year longer than initial forecasts.
Honda expects earnings to fall 7% this year due to chip shortages and rising raw material costs.
The probability of a U.S. recession within the next year is up to 30%, according to a survey of Bloomberg economists.
Construction material prices were 18% higher in April than a year ago, the fastest rise since 1948. New-home buyers are feeling the crunch, with costs to build sometimes doubling from when deposits were paid.
A global shortage of contractors and materials is raising construction costs and forcing many homeowners to rethink their renovation plans.
United Airlines reached agreement on a new labor contract with its pilots’ union, the first among major airlines struggling to deal with an acute pilot shortage.
International U.S. air travel remains down about 15% from pre-pandemic levels as airlines urge the White House to drop rigid COVID testing requirements.
Ford unloaded more of its shares in electric vehicle maker Rivian, which continues struggling to roll out its first models amid supply-chain bottlenecks.
Several of the most prominent U.S. tech firms plan to slow hiring this year after overextending during the pandemic.
Lockdowns bruised China’s economy last month, with consumer spending, industrial production and infrastructure spending all falling, while unemployment hit a two-year high 6.1%.
China’s consumer inflation accelerated at its fastest pace in five months in April, jumping 2.1% for the month amid rising prices due to COVID-19 lockdowns the war in Ukraine.
Rising fuel costs could offset gains from rebounding passenger volumes at Norwegian Air, the airline said.
Dubai’s Emirates airline, which only operates international services, reported a 91% revenue jump for the year ended March 31 as passenger numbers tripled from pandemic lows.