Oil prices rose more than 1% Wednesday to their highest levels in a month. Futures extended gains in late morning trading, with WTI up 2.7% at $79.94/bbl and Brent up 2.1% at $82.47/bbl. U.S. natural gas was 0.4% lower at $3.87/MMBtu.
U.S. crude stockpiles fell 2.14 million barrels last week, the sixth straight week of declines, according to the Energy Information Administration.
The $3.01/gallon U.S. retail price for gasoline last year was the highest since 2014, new data shows, the result of a steady rise for most of the year:
Indonesian officials ditched a planned meeting yesterday to reconsider a recent ban on coal exports and did not provide a timeline for restarting talks.
With resin supply improving and most 2021 force majeures lifted, we are ending our force majeure link. Please contact your M. Holland account manager if you have questions concerning availability of specific products.
Supply Chain
Freight hubs in the Northeast could see further disruptions from winter weather in coming days after a storm slammed the region and mid-Atlantic earlier this week. Supply chain managers should expect ongoing disruption from severe weather events in the years ahead due to climate change.
One of California’s largest utilities has been found responsible for the state’s second largest wildfire last summer, regulators said. It is unclear whether criminal charges will be filed.
Activity in the transportation, logistics and warehousing sectors remained strong in December despite a modest slowdown from the previous month, an index of logistics managers shows.
The Shanghai Containerized Freight Index for shipping rates out of Shanghai hit 5,046.66 for the week ending Dec. 31, the first time the pricing measure has surpassed 5,000.
Swiss carrier Mediterranean Shipping Co. overtook Maersk as the world’s largest ocean carrier in 2021 by the slim margin of 1,888 20-foot containers.
Alabama is partnering with Norfolk Southern to fund a $231.6 million rail corridor project that aims to connect the Port of Mobile to industrial sites in the Birmingham area.
Hong Kong operator Seaspan secured the last bit of financing to complete its order for a whopping 70 newbuilds, including at least 10 15,000-teu LNG-powered container ships.
More LNG-powered vessel newbuilds were ordered in 2021 than the past four years combined, new data shows.
A German shipbuilder received an order for the construction of six mini-bulker cargo ships with wind-assisted propulsion, to be delivered in 2023.
German car sales fell to their lowest level in three decades last year, primarily an effect of production losses from the global chip shortage.
A Massachusetts market research firm predicts that 50% of all supply chain forecasts will be automated using artificial intelligence by 2023, with an improved accuracy of five percentage points.
Domestic Markets
The U.S. reported 643,660 new COVID-19 infections and 1,986 virus fatalities Wednesday.
Record daily COVID-19 case counts fueled by the Omicron variant are being reported across the nation, with the largest surges in the Northeast and mid-Atlantic.
An average of 672 children are being hospitalized every day for COVID-19 in the U.S., more than double the average just a week ago.
Roughly 1 in 5 U.S. hospitals are critically low on staff, new data shows, the most since December 2020.
One in three people who test for COVID-19 in Tennessee are positive, the state’s highest rate of the pandemic.
Massachusetts’ COVID-19 positivity rate rose to 21.6% Tuesday, the highest since April 2020, as the state saw more than 45,000 breakthrough infections the past week. The state’s hospitals are nearing full ICU bed capacity, officials report.
A recent study suggests that rapid at-home COVID-19 tests are highly unreliable in the early days of infection, delivering false negative results though the infected person is contagious.
Five states have recorded cases of “flurona,” a combined infection of coronavirus and flu.
This year’s Grammy Awards, originally scheduled for Jan. 31, have been indefinitely postponed due to surging COVID-19 cases.
More than 1,000 U.S. flights were canceled for the 11th day in a row Wednesday, with thousands more delayed. Carriers have now canceled more than 22,000 flights since Dec. 24.
Traders are more confident the U.S.’s first interest-rate hike this year will come as early as March, prompting many U.S. finance chiefs to quickly refinance debts to lock in low rates.
Economists predict the U.S. trade deficit widened in November to a record $81.5 billion, led by strong retail spending and eased port congestion.
The individual U.S. tax deadline will return to its usual mid-April date for the first time since 2019 this year, the third tax-filing season of the pandemic.
U.S. budget airline Allegiant Air announced plans to purchase 50 new Boeing 737 MAX jets for $5.5 billion in anticipation of a post-pandemic recovery.
Ford’s quarterly sales rose a promising 27% in the fourth quarter despite being down 6.8% for the full year, the latest data shows.
A Michigan battery startup claims to have driven a Tesla Model S more than 750 miles on a single charge with its technology, which it aims to start selling in 2023.
Canadian auto supplier Magna International will set up a new electric vehicle center at its U.S. headquarters in Michigan in preparation for the launch of its electric powertrain system for trucks in 2025.
BlackBerry cut the network capabilities of its cell phones earlier this week, the final step in the demise of a once-ubiquitous business device as the company completes its pivot to making security software for corporations and governments.
International Markets
France and Italy reported record new COVID-19 infections Wednesday, pushing new daily cases across the EU over 1 million for the first time.
Singapore is requiring COVID-19 booster doses for people to maintain their fully vaccinated status allowing them access to public businesses.
China’s weeklong lockdown of 13 million people in Xi’an appears to have worked, with new infections dropping to 35 on Wednesday from 95 Tuesday.
Israel reported nearly 12,000 new COVID-19 cases Wednesday, topping a previous record from September.
With COVID-19 infections soaring in Mexico, testing centers in 13 of its 31 states are overwhelmed. Infection rates are highest in tourist areas among coastal states.
Singapore’s economy grew an estimated 5.9% in the fourth quarter.
U.S. electric vehicle maker Lucid announced plans to begin selling cars in Europe later this year.
Daimler AG released details of a new electric vehicle concept that uses solar power and bio-based materials for a range of 621 miles on a single battery charge.
German carmaker BMW sold a record 2.2 million vehicles in 2021, despite the global chip shortage.
Amazon is partnering with international automaker Stellantis on a new batch of electric delivery vans and a new Amazon software system for vehicle dashboards.
At M. Holland
M. Holland’s 3D Printing group offers a rapid response alternative for producing selected parts where resin availability is tight. For more information, email our 3D Printing team.
Market Expertise: M. Holland offers a host of resources to clients, prospects and suppliers across nine strategic markets.
For all COVID-19 updates and notices, please refer to the M. Holland website.
We and selected third-parties use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL third-party cookies. For more details about cookies and how we use them, read the full Data Privacy Policy.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience. For more details about cookies and how we use them, read the full Data Privacy Policy.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checkbox-advertisement
1 year
Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category .
cookielawinfo-checkbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Cookie
Duration
Description
__cf_bm
30 minutes
This cookie, set by Cloudflare, is used to support Cloudflare Bot Management.
bcookie
1 year
LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID.
bscookie
1 year
LinkedIn sets this cookie to store performed actions on the website.
lang
session
LinkedIn sets this cookie to remember a user's language setting.
lidc
1 day
LinkedIn sets the lidc cookie to facilitate data center selection.
UserMatchHistory
1 month
LinkedIn sets this cookie for LinkedIn Ads ID syncing.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Cookie
Duration
Description
_ga
2 years
The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors.
_ga_S6SF7JZ2WY
2 years
This cookie is installed by Google Analytics.
_gat_UA-7828007-1
1 minute
A variation of the _gat cookie set by Google Analytics and Google Tag Manager to allow website owners to track visitor behaviour and measure site performance. The pattern element in the name contains the unique identity number of the account or website it relates to.
_gcl_au
3 months
Provided by Google Tag Manager to experiment advertisement efficiency of websites using their services.
_gid
1 day
Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously.
CONSENT
2 years
YouTube sets this cookie via embedded youtube-videos and registers anonymous statistical data.
vuid
2 years
Vimeo installs this cookie to collect tracking information by setting a unique ID to embed videos to the website.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Cookie
Duration
Description
_fbp
3 months
This cookie is set by Facebook to display advertisements when either on Facebook or on a digital platform powered by Facebook advertising, after visiting the website.
fr
3 months
Facebook sets this cookie to show relevant advertisements to users by tracking user behaviour across the web, on sites that have Facebook pixel or Facebook social plugin.
IDE
1 year 24 days
Google DoubleClick IDE cookies are used to store information about how the user uses the website to present them with relevant ads and according to the user profile.
personalization_id
2 years
Twitter sets this cookie to integrate and share features for social media and also store information about how the user uses the website, for tracking and targeting.
test_cookie
15 minutes
The test_cookie is set by doubleclick.net and is used to determine if the user's browser supports cookies.
VISITOR_INFO1_LIVE
5 months 27 days
A cookie set by YouTube to measure bandwidth that determines whether the user gets the new or old player interface.
YSC
session
YSC cookie is set by Youtube and is used to track the views of embedded videos on Youtube pages.
yt-remote-connected-devices
never
YouTube sets this cookie to store the video preferences of the user using embedded YouTube video.
yt-remote-device-id
never
YouTube sets this cookie to store the video preferences of the user using embedded YouTube video.
yt.innertube::nextId
never
This cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen.
yt.innertube::requests
never
This cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen.