Our Logistics team reports that rail traffic and bulk truck traffic in the region continues to be disrupted.
Oil prices eased yesterday as it became apparent Hurricane Laura left the Gulf Coast energy infrastructure intact.
Crude prices were higher in early trading today, with the WTI at $43.37/bbl and Brent at $45.25/bbl.
More than half of new refining capacity due to come onstream through 2027 will be in Asia, with more than 70% of it devoted to plastics production as demand for transport fuels ebbs.
Scientists from Ohio State, Colorado State University, Oak Ridge National Laboratory and the Pacific Northwest National Laboratory have discovered a bacterium that produces ethylene gas as a biproduct of metabolizing sulfur, which could provide an alternative to fossil fuels to produce plastics.
Tens of thousands of evacuated citizens were allowed to return to their northern California homes as firefighters continued to gain control of a historic outbreak of wildfires.
Established brands in China are benefiting from “consumption reshoring” as Chinese consumers spend more time and money in their country and the government encourages domestic consumption.
The U.S. Postal Service’s push for efficiency and keeping trucks on schedule may have conflicted with the surge in parcel delivery demand, according to logistics experts, as on-time delivery of first-class mail slipped to 91.6% in July, the lowest since April.
Trucking capacity remains tight nationwide. Clients are advised to provide expanded lead times on orders to help ensure delivery dates will be met.
COVID-19 infections rose in the U.S. yesterday with 45,966 new cases, while deaths fell to 1,116.
More than 74,000 school children were infected with COVID-19 during the first two weeks following school reopening, according to the American Academy of Pediatrics and the Children’s Hospital Association.
A recent study in the Journal of Pediatrics found that asymptomatic children can carry particularly high concentrations of the COVID-19 virus.
Many schools are finding the bacteria that causes Legionnaires’ disease in water supplies that have stagnated during prolonged lockdowns.
One of Tesla’s Chinese rivals, Xpeng Motors, received a warm welcome from U.S. markets yesterday as the electric car company raised $1.5 billion in an initial public offering.
The growth rate in grocery spending is slowing in a sign that the expiration of stimulus measures is pinching consumer pocketbooks.
Meanwhile, dollar stores are experiencing brisk sales growth from more budget-conscious consumers.
HP’s laptop sales soared 30% year over year in its most recent quarter, and Dell’s consumer sales rose 18%, helping to offset a drop in office sales.
Boeing, reeling from the airline recession and the grounding of its 737 Max aircraft, advised several airlines to remove some Dreamliner wide-body jets from service due to two “distinct manufacturing issues” with the fuselage.
Coca-Cola, hurt by a drop in away-from-home sales, announced a major restructuring and will offer voluntary severance to up to 4,000 employees.