We are mourning the passing of Joan Holland, 91, who co-founded M. Holland Company with her husband, Marvin, 70 years ago.
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Crude prices were down in early trading today, with the WTI at $37.21/bbl and Brent below $40 at $39.85/bbl.
The natural gas price was down 2% at $2.29/MMBtu.
Delaware became the sixth state or city to sue the petrochemicals industry for the impacts of climate change, naming some of the country’s leading oil companies as well as the American Petroleum Institute.
BP will invest $1.1 billion in two offshore wind projects in partnership with Equinor in pursuit of its goal of building 50 gigawatts of renewable power generation capacity over the next 10 years.
LyondellBasell, experiencing raw material shortages due to Hurricane Laura, yesterday declared force majeure on polypropylene compounds.
Covestro yesterday declared force majeure on polycarbonate products due to production disruptions caused by Hurricane Laura.
North Dakota faces daunting dual challenges with among the highest rates of COVID-19 infections in the nation and 80% of its oil rigs idled due to the energy recession.
U.S. consumer prices rose 0.4% in August, the third consecutive month of higher-than-anticipated increases, but the high unemployment rate is expected to keep a lid on inflation.
Used car prices were up 5.4% in August, the highest monthly jump since 1969, accounting for 40% of the 0.4% increase in core inflation, which strips out food and energy prices.
In addition to the 884,000 people who filed first-time jobless claims with states last week, another 838,916 self-employed and contract employees filed first-time claims under the federal Pandemic Unemployment Assistance program.
The U.S. Senate failed to pass a slimmed down pandemic relief bill yesterday, dimming hopes for further federal aid before the November election.
India has the second highest number of COVID-19 cases globally (over 4.5 million) but a relatively low mortality rate, worrying health experts about the integrity of its reporting as the government lifts restrictions.
Factory output in India contracted by a higher-than-expected 10.4% in July, but less than the 16.6% contraction in June.
COVID-19 is spreading exponentially in the U.K. for the first time since March, driven by a spike in cases among young people.
Brexit talks unraveled further as the European Union threatened the U.K. with legal action if it fails to withdraw changes it made to agreements signed last January. The British pound fell sharply.
The head of the European Central Bank called for continued fiscal stimulus and warned about “complacency,” citing the “uneven, incomplete and asymmetric” nature of the economic recovery.
Thanks to government stimulus efforts, the ratio of household debt to disposable income in Canada is at the lowest level in a decade.
Puerto Rico, headquarters of M. Holland Export Services, is reopening beaches, casinos, gyms and theaters but maintaining other restrictions and a curfew in the wake of improving COVID-19 infection rates.
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M. Holland Company
We will provide further COVID-19 bulletins as circumstances dictate. For all COVID-19 updates and notices, please refer to the M. Holland website.