AAA Daily Fuel Gauge Report for Friday, 7/17/20

Sun Chemical has acquired the Metal Deco ink business of PPG, a US-based global supplier of paints, coatings and specialty materials. PPG, with a well consolidated portfolio, and Sun Chemical are both long standing players in the metal packaging industry. Through the acquisition, which reflects Sun Chemical’s strategy to grow by acquiring businesses that complement areas of its existing operations, Sun Chemical will expand both its operational territories and its overall position in the global Metal Deco market. By combining PPG’s complementary portfolio of Metal Deco products with those of Sun Chemical, customers will benefit from further innovative solutions and what will be the widest ink portfolio in the metal decoration market. Click Read More below for additional information.

Oil edged up to about $49 a barrel on Monday as fewer drilling rigs were added in the United States, helping ease concerns that surging shale supplies will undermine OPEC-led production cuts. U.S. drillers added two oil rigs in the week to July 14, bringing the total to 765, Baker Hughes (BHGE.N) said on Friday. RIG-OL-USA-BHI Rig additions in the past four weeks averaged five, the slowest pace since November. Expectations that a long-awaited crude market rebalancing was under way was also bolstered by the sharp drop in U.S. crude inventories in the week to July 7.

National Average Price for Regular Unleaded Current: $4.432; Month Ago: $4.083; Year Ago: $3.028. National Average Price for Diesel Current: $5.560; Month Ago: $5.019; Year Ago: $3.150.