Oil futures in New York fell below $40/bbl over the weekend as Gulf Coast production resumed and supply constraints eased.
With the reopening of its largest oil field Sunday, Libya has increased its daily output by potentially 300,000 barrels a day, putting downward pressure on oil prices globally.
Norwegian oil workers ended their strike that threatened to disrupt 25% of the country’s production.
The WTI crude price was down 3.4% in early trading today at $39.24/bbl, while the Brent price was down 3.1% at $41.64/bbl. Natural gas was nearly 5% higher at $2.87/MMBtu.
Plastics manufacturers and consumer products companies are embracing fees and disposal surcharges to encourage recycling.
Hurricane Delta touched down on the Louisiana coastline Friday evening, moving east across Mississippi and into Georgia Saturday and Sunday. Power outages topped 800,000 at the storm’s peak, while the first death was reported Sunday.
U.S. government officials failed to agree on an economic relief package over the weekend. As talks are set to continue this week, the White House is asking Congress to approve a smaller stimulus package using leftover money from the Paycheck Protection Program created earlier this year.
As COVID-19 cases surge in Brooklyn and Queens, New York City officials issued more than $150,000 in fines over the weekend for violations of the city’s new lockdown measures.
Minnesota reached a single-day high of new COVID-19 cases on Saturday, followed by almost the same amount of new infections Sunday.
COVID-19 cases in Arizona spiked more than 150% after a stay-at-home order, but fell more than 75% after a mask mandate, according to a report by the CDC.
Use of face masks is increasing: 92% of Americans recently surveyed by National Geographic said they usually wear a face mask when leaving home, and nearly three quarters of respondents said they always do.
The autumn wave of rising COVID-19 cases appears less deadly than in earlier months due to improved testing, better healthcare and a younger demographic being infected. However, hospitals still risk being overburdened with sick patients.
The healthcare industry saw 53,000 jobs return in September, while many older doctors are retiring early out of concern for health risks posed by the pandemic.
Up to half of recovered COVID-19 patients report suffering from “COVID-19 brain fog,” manifested by memory loss and cognitive disorders that can be debilitating.
In the NBA “bubble” complex in Orlando, Florida, the Los Angeles Lakers won their first title in a decade and 17th championship in team history.
COVID-19 is disrupting the NFL: A New England Patriots – Denver Broncos game has been postponed twice due to infections, while two Tennessee Titans games have been postponed until later in the year. Each postponement forces a reconfiguration of much of the NFL’s schedule.
Consumer confidence in India hit an all-time low in September as the country experiences a divergence in inflation rates, with wholesale prices subdued due to slow demand and consumer inflation spiking from supply chain constraints.
The Czech Republic became Europe’s top hotspot for COVID-19 infections over the weekend, with 8,618 new cases Friday. The country has already banned cultural and sports events, and officials are set to impose further restrictions today.
Wholesale prices in Japan fell 0.8% in September, the seventh consecutive month of declining prices, raising fears the country could sink into a prolonged period of deflation.
GM enjoyed a 12% jump in car sales in China in the quarter ended September 30, its first year-over-year increase there in two years.
Global food prices are rising due to smaller soybean stockpiles, increasing global competition for wheat, and dry weather in South America and Europe, according to a new report from the U.S. Department of Agriculture.
Last week’s webinar sponsored by M. Holland and Braskem reviewed polypropylene advancements in 3D printing. Watch the recording here.
Stop by M. Holland’s virtual booth at IWCS to meet our team of Wire & Cable experts. The M. Holland team is exhibiting October 15-16 from 8 am to 1 pm ET. Click here to learn more.
Global Healthcare Manager Josh Blackmore will be a featured speaker at the Plastics in Healthcare Virtual Edition, sponsored by Plastics News, October 26-30. The title of his talk: Applying the Lessons from the First Wave of COVID-19 to Successfully Navigate the Second.
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We will provide further COVID-19 bulletins as circumstances dictate. For all COVID-19 updates and notices, please refer to the M. Holland website.