M. Holland has announced expanded access to 3D printing filaments from Braskem, a global chemical company, providing clients with access to polyethylene (PE) and glass fiber reinforced polypropylene (PP) filaments. Click here to read the full press release.
Are you attending the North American Detroit Auto Show this week? We invite you to join our networking reception at the Detroit Athletic Club on Thursday, Sept. 15 at 4 pm. To RSVP for our reception or set up a meeting with our Automotive team, please contact Mike Gumbko, Strategic Account Manager.
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Oil prices rose about 4% last Friday but ended the week slightly lower for the second week in a row.
In mid-morning trading today, WTI futures were up 1.9% at $88.43/bbl, Brent was up 1.8% at $94.51/bbl, and U.S. natural gas was up 3.0% at $8.24/MMBtu.
Active U.S. oil and gas rigs fell by one last week to 759, down for the fifth out of the last six weeks. Active oil rigs fell to a two-month low.
Texas saw a 25% surge in tax revenue for the 2022 fiscal year, led by inflows from the oil and gas industry.
Power prices in Europe dipped today on rising output from nuclear and renewable sources.
Defying expectations, global coal-fired power generation declined in the first half of the year, despite the energy crisis.
Almost 24% of U.S. electricity came from renewables in the first half of 2022, up from 21% the same time last year:
More oil news related to the war in Europe:
Operations at the Russian-held Zaporizhzhia nuclear plant in Ukraine have been fully halted as shelling continues to spark fears of a nuclear disaster.
Meeting late last week, EU energy ministers failed to agree on mandates for member nations to reduce energy demand this winter. Countries are now being urged to develop strategies to reduce consumption by at least 10%.
The U.S. Treasury Department issued guidance for navigating the expected labyrinth of newly formed companies and abnormal shipping routes that could arise when Russian oil prices are capped by the West.
The European Central Bank has refused to give short-term financing to energy firms facing significant margin calls, which could total as high as $1.5 trillion following wild swings in power and gas prices.
Natural-gas and electricity prices have jumped by about a quarter since Russia shut down the Nord Stream pipeline to Germany.
Dutch rail unions reached a deal with employers to boost pay, ending strikes that disrupted service for much of the past several weeks.
Workers at Britain’s port of Liverpool are planning a two-week walkout next Monday, Sept. 19, over a wage dispute.
The cost to ship a 40-foot container from China to the U.S. West Coast has fallen 60% since January to about $5,400 a box, according to the Freightos Baltic Index. Asia-to-Europe rates are down some 42% over the same period.
Earnings for computer-chip related companies in the S&P 500 are projected to be flat in 2023, down from expectations of 12% growth just three months ago.
Online sales are poised to rise 9.4% this year to $1 trillion, the first time growth has slipped into the single digits as inflation-weary consumers curb their spending.
With California’s electricity usage poised to rise 18% by 2030, analysts question how the state’s power grid — already reeling from the strains of high temperatures — will keep up.
India pushed back bidding in the privatization of the Shipping Corporation of India until the first quarter of 2023.
A New York shipper is seeking $180 million from Maersk in a complaint alleging the carrier rejected contracted loads in favor of spot-market customers.
In the latest news from the auto industry:
Ford’s U.S. sales rose 27% in August in a rebound from production shortages last year.
High temperatures in the Western U.S. continue to hit the produce industry, damaging crops and leaving fewer products on grocery shelves. Water cuts in California have had a particularly harsh effect on rice yields.
The U.S. reported 67,400 new COVID-19 infections and 318 virus fatalities Sunday. With deaths averaging around 320 per day, COVID-19 is on pace to remain the country’s third-leading cause of death this year.