Key Currency Exchange Rates for Friday, 2/4/22

American Dollar to Canadian Dollar = 0.780813; American Dollar to Chinese Yuan = 0.154582; American Dollar to Euro = 1.200000; American Dollar to Japanese Yen = 0.009471; American Dollar to Mexican Peso = 0.049405.

Futures in New York were little changed, after rising 3 percent the previous two sessions. Libya’s crude loadings from the Mellitah terminal will be “modified” after protests impeded output at the El-Feel field. Cuts by OPEC and its allies may be phased out in 2019 in a way that won’t disturb the market, Saudi oil minister Khalid Al-Falih said. Still, U.S. supply remains a threat, with the nation’s rig count rising for a fifth week to the highest since April 2015. Oil has risen more than 5 percent this year, following a second annual gain, as a drain in U.S. stockpiles and growing demand reassure investors that production cuts led by the Organization of Petroleum Exporting Countries are working. While America continues to pump record volumes, accompanied by an increase in exports, Al-Falih said the global oil market is re-balancing and bloated inventories are shrinking. Click Read More below for additional information.

Beginning in April 2018, Sun Chemical and its parent company, DIC Corporation, will increase the production capacity of its DAILUBE® extreme pressure additives by 6,000 tons per annum at its eco-friendly plant in Kashima, Japan. The move will better serve customers around the globe as well as promote and deliver its trusted and market leading sulfurized extreme pressure additives into new and existing markets. Optimized for metalworking fluids used in cutting, forming and rolling, DAILUBE extreme pressure additives are light in color, low odor and available in a range of chemistries, including olefin, lard, vegetable, ester, and fatty acid. Click Read More below for additional information.