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Futures News on May 12, crude oil fluctuated higher, but gasoline and diesel production and sales were poor, and fuel oil news showed mixed bullish and bearish performance. Refineries have limited resources to release, and the enthusiasm for pushing up prices is still acceptable. Downstream purchases are made on demand, and the market is dominated by rigid demand. It is expected that todays market will remain stable with some small increases.Japans pharmaceutical index fell 3.9%, the biggest decline among the Tokyo Stock Exchanges industry sub-indexes, after Trump said he was seeking to significantly reduce drug prices.Euro Stoxx 50 futures rose 0.9%, Germanys DAX futures rose 0.8% and Britains FTSE futures rose 0.4%.On May 12, local time on the 11th, Saudi Aramco released its first quarter 2025 financial report, showing that due to global economic uncertainty and oil price fluctuations, Saudi Aramcos net income for the quarter was US$26 billion, down from US$27.3 billion in the same period last year. The financial report also showed that Saudi Aramcos operating cash flow and free cash flow for the quarter were US$31.7 billion and US$19.2 billion, respectively, also lower than the same period last year. Saudi Aramco President and CEO Amin Nasser said that in the first quarter of 2025, changes in the global trade pattern affected the energy market, and economic uncertainty had an impact on oil prices.Japans current account in March was 272.31 billion yen after seasonal adjustment, in line with expectations of 246.49 billion yen and the previous value of 231.68 billion yen.

Parts Scarcity Forces Ford and GM to Shut Down Two Michigan Factories

Aria Thomas

Apr 01, 2022 09:55

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Ford, the United States' No. 2 manufacturer, announced it will halt production at its Flat Rock Assembly Plant, where the Mustang is built, next week due to a worldwide semiconductor shortage.


GM said that it will halt production at its Lansing Grand River assembly plant next week due to a temporary component shortage. The plant produces the Cadillac CT4, Cadillac CT5, and Chevrolet Camaro. GM said that the manufacturing pause was not connected to chips but did not give any details.


The automotive sector is now battling a worldwide chip scarcity caused by the COVID-19 epidemic, which has forced firms to reduce output, while high vehicle prices have largely offset the financial effect.


Ford warned last month that the chip shortfall would result in a reduction in current-quarter car sales. Ford paused production at its Kansas City assembly plant, which produces F-150 pickup trucks, for a week last month owing to a chip shortage.


Ford Motor Company, located in Dearborn, Michigan, said that manufacturing at its other North American factories would continue as usual.


GM said last week that it will cease production at a Fort Wayne, Indiana, assembly facility that makes the Chevrolet Silverado 1500 and GMC Sierra 1500 pickup trucks for two weeks starting April 4 due to a semiconductor chip shortage.


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