Oil prices surged past $100 (£74) a barrel to hit their highest level for more than seven years after Russia launched an invasion of Ukraine.
Russia is the second biggest exporter of crude oil, and is also the world’s largest natural gas exporter.
Russia’s invasion of Ukraine could spell trouble for the U.S. economy, fuelling higher gasoline prices and hampering the post-coronavirus recovery.
Europe gets nearly a third of its oil and around 40% of its gas from Russia, much of it flowing through pipelines across Ukrainian territory. Small wonder then that prices are shooting up.
Brent crude oil has gone above $100 a barrel, while prices for gas on wholesale markets – where domestic suppliers buy what they need – are up sharply as well.
Supplies from Russia do not appear to have been affected – yet. But the fear that they will be, and that there could be a scramble for other resources, is pushing up costs.
Stock markets across Europe are tumbling, as investors fret about the potential economic impact of high energy prices and the potential for much wider sanctions as well.
According to market watchers, higher crude oil prices are major headwinds for a couple of sectors including aviation, paint, tyres and oil marketing companies. Brent crude oil has jumped over 30 per cent to $101.40 on a year-to-date basis till February 24. The commodity was at $77.78 per barrel on December 31, 2021.
While e-commerce has fuelled demand for packaging, pandemic-related labour shortages and shipping constraints are also making it harder to make and deliver the boxes used to carry everything from food to consumer goods.
Reference:
https://www.bbc.com/news/business-60502451
In a converging policy shift on both sides of the Atlantic, European regulators this week published a roadmap toward fully replacing animal testing for chemical safety assessments, while the US Environmental Protection Agency issued a rare update to its list of alternative test methods.
The global pharmaceutical fine chemicals sector is undergoing a profound transformation, with India emerging as a central growth engine amid sweeping changes in supply chain strategies and regulatory priorities. As drug makers and contract manufacturers adapt to stricter oversight and evolving sourcing preferences, the industry’s focus is shifting rapidly from cost efficiency to compliance, localisation and technical sophistication.
Stakeholders are being encouraged to weigh in on the European Chemicals Agency (ECHA) 60-day public consultation period related to a planned ban on per-and-polyfluoroalkyl (PFAS) substances, also known as forever chemicals.
We’re pleased to share an important milestone in our sustainability journey.
ExSyn has been awarded the EcoVadis Platinum Medal, placing us among the top 1% of companies globally evaluated for environmental, social and ethical performance.
While fears around a complete shutdown of the Strait of Hormuz primarily raise concerns around oil prices and energy security, recent history shows that even partial disruptions or security threats along key sea routes can quickly spill over into freight inflation, longer transit times and working capital stress for exporters and importers.
The European Union (EU) has agreed to offer Indian pharmaceutical and medical devices companies preferential access to EU market, along with cutting tariffs on 97.5 percent of chemical products to zero.
As we approach the close of this year, we at ExSyn would like to extend our heartfelt gratitude for your trust, collaboration, and continued support. Your confidence in our products and services has been the driving force behind our growth and success.
The U.S. Food and Drug Administration (FDA) today announced significant action to make it faster and less costly to develop biosimilar medicines, which are lower-cost “generic” alternatives to biologic drugs that treat serious and chronic diseases.
Products containing titanium dioxide in the EU are no longer required to carry warnings about cancer risk, after the European Chemicals Agency (Echa) revoked its classification as a suspected carcinogen. The move follows a June 2025 decision by the Court of Justice of the European Union and means that safety data sheets, labelling and packaging requirements for titanium dioxide have been relaxed across industries including paints, pharmaceuticals, cosmetics and food.