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. Admission is free:
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 saw volatile trading Thursday, rising 2.5% on signs of higher demand from China.
In mid-morning trading, WTI futures were up marginally at $112.30/bbl, Brent was flat at $112.00/bbl, and U.S. natural gas was down 3.1% at $8.05/MMBtu.
The average U.S. gasoline prices hit $4.59 a gallon yesterday, the 10th straight daily record as travel approaches pre-pandemic levels. The House of Representatives passed a bill to prevent price hikes during severe market disruptions, which is expected to stall in the Senate.
Spot power and natural gas prices soared to a yearly high in several parts of the U.S. yesterday amid a broad spring heat wave.
Low inventories of oil products and a shortage of refining capacity could cause oil shortages in parts of the U.S., analysts say. At least 10 gas stations in eastern Washington state are already sold out of gasoline and some are only selling diesel.
U.S. refiners imported about 1.3 million bpd of crude and fuel oil from Latin America in April, a seven-month high, as buyers worked to replace Russian supplies.
The largest increase in U.S. electricity generation this summer will come from renewable energy sources, the EIA predicts:
Centennial Resource Development will acquire Colgate Energy to create a $7 billion giant focused exclusively on the U.S. Permian Basin.
Total production in the U.S. Delaware Basin, the top-producing play in the Permian, will hit a record 5.7 million bpd-equivalent in 2022, according to Rystad:
The Americas unit of DHL Express is expanding capacity with plans to add new cargo jets and double its electric-vehicle fleet to 654 units this year.
Food distributor Sysco plans to buy up to 800 heavy-duty electric freight trucks from Daimler Truck North America, the largest electric-truck order to date.
COVID-19 hospitalizations in New York state are up 25% the past 10 days to a three-month high.
COVID-19 hospitalizations in Los Angeles County jumped 42% last week.
Following FDA approval earlier this week, the CDC recommended Pfizer’s COVID-19 booster shot for children aged 5 to 11. Approval for Moderna’s booster will likely come soon.
Over 65% of CEOs surveyed by The Conference Board expect the Fed’s monetary tightening will trigger a recession.
Layoffs and discharges in recent months are at or near all-time lows, according to the Labor Department, as the tight labor supply prompts greater efforts to retain employees.
U.S. existing home sales fell 2.4% in April to the lowest level in two years, while the median home price jumped 14.8% to an all-time high $391,200. A typical home on the market sold in just 15 days, according to online seller Redfin.
Meat experienced some of the largest price increases among U.S. food items in April, costing almost 15% more than the same time last year:
China’s central bank unexpectedly cut a key interest rate in a policy shift that economists say could help its beleaguered housing market while only bringing limited relief to its economy. China’s fiscal stimulus could surpass $5 trillion this year, equaling roughly a third of the nation’s economy.
At 2.8%, U.S. economic growth is expected to outpace that of China for the first time since 1976 this year.