Market News


Chemical Activity Barometer Shows Another Monthly Gain

By Research Solutions | May 29, 2019

The American Chemistry Council uses a Chemical Activity Barometer (CAB) to track the monthly and yearly movements of the chemical industry in the U.S., which can directly correlate to the direction of the country’s economy. As we close out the month of May, the CAB shows a gain for the third month in a row, in addition to an uptick in the year over year reporting. Read the full American Chemical Council story here. 


Crude Oil Projected to have Biggest Rise Since 2009

By Research Solutions | April 1, 2019

After having a slight dip on Thursday, Crude oil prices had an uptick on Friday, putting the commodity on track for its largest quarter-over-quarter rise in a decade. The first three months of 2019 has been the best performing stretch since the second quarter of 2009. Read more here…


Chemical Production is Up in 2019

By Research Solutions | February 26, 2019 

Manufacturing is one of the largest industries in the United States and almost all manufacturing requires chemicals to operate. At Research Solutions we have been dutifully serving the manufacturing industry for nearly fifty years. According to an article published this week by the American Chemistry Counsel, so far in 2019 activity in manufacturing is up, therefore activity in chemical production is up as well. The largest gains thus far have been made in the Gulf Coast, which is in the heart of our service area. For more information, read the American Chemistry Counsel article here. 


Major refineries are shutting down in the wake of Harvey flooding

By Matt Rosoff, CNBC | August 27, 2017

Oil refineries are shutting down in the wake of rainfall and flooding from Hurricane Harvey.

The damage could mean a loss of more than 1 million barrels per day in refining capacity just in the Houston and Galveston, Texas, areas — that's not including hundreds of thousands of more barrels in the Corpus Christi, Texas, area.

Shell has shut down its massive Deer Park refinery in southeastern Houston, among the largest in the United States with a crude oil capacity of 340,000 barrels per day.

 

The company said in a statement obtained by CNBC, "On Sunday, August 27, 2017, we made the decision to initiate a controlled shut down of the Deer Park, Texas, refinery and chemical plant as a result of heavy rainfall and associated nearby flooding from Hurricane Harvey. Only essential personnel will stay on site through the end of the week." Read the full story here.


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