AAA Daily Fuel Gauge Report for Friday, 6/25/21

American Dollar to Canadian Dollar = 0.775984 American Dollar to Chinese Yuan = 0.159276 American Dollar to Euro = 1.232669 American Dollar to Japanese Yen = 0.009415 American Dollar to Mexican Peso = 0.055001

Futures were little changed in New York after gaining 2 percent last week. The number of U.S. rigs targeting oil remained unchanged at 747, Baker Hughes data showed Friday. A repair of the North Sea’s Forties Pipeline System is complete and pressure testing has started, operator Ineos Group said Monday. The halt of the line earlier this month sent prices surging. Oil is heading for a second yearly advance as the Organization of Petroleum Exporting Countries and its allies including Russia prolong supply curbs through the end of 2018. Iraq’s Oil Minister Jabbar Al-Luaibi said Monday that he’s optimistic prices will gain next year with global stockpiles falling and demand rising in China and India. Click Read More below for additional information.

Due to the unprecedented impact and devastation in the wake of Hurricane Harvey, several of Sun Chemical’s feedstock suppliers have announced a force majeure and many other raw materials suppliers are reviewing allocations. While the volatility of the supplier markets is unknown at this point, the inks and pigments markets will be affected. Sun Chemical is committed to working closely with its suppliers to assess global ramifications, develop needed contingency plans, and to notify customers of potential delays or issues. Click Read More below for more of the story.