Key Currency Exchange Rates for Friday, 12/22/23

Sun Chemical has formed a Food and Nutrition Group. The recently formed group will extend existing Sun Chemical and DIC Corporation expertise in color and algae cultivation to provide coloring solutions and nutraceutical ingredients to the dietary supplement, food and beverage industries. The Food and Nutrition Group was developed as part of DIC Corporation’s vision of transforming portfolios to achieve continued future growth. The group will leverage Sun Chemical’s advanced research and development coloring expertise to support new product development initiatives for both natural and synthetic food color. The research and development team at DIC Corporation headquarters is actively working with venture capital groups in developing bio-based nutraceutical ingredients, and Sun Chemical is committed to grow the new business group and will make additional investments to accelerate its growth.

Oil has struggled to recover losses from last month’s broader market slump after topping $66 a barrel in January. While a brighter economic outlook has underpinned demand expectations following a better-than-expected U.S. jobs report, expanding American production remains a challenge to the Organization of Petroleum Exporting Countries and its allies, which are trying to prop up prices via output curbs. Production from shale regions will reach 6.95 million barrels a day next month, the U.S. Energy Information Administration said in its monthly drilling report. The Permian Basin is seen leading the way with an 80,000-barrel increase. Total American output has passed 10 million barrels a day, beating a record set in 1970. Click Read More below for additional information.

American Dollar to Canadian Dollar = 0.787250; American Dollar to Chinese Yuan = 0.154088; American Dollar to Euro = 1.193914; American Dollar to Japanese Yen = 0.009233; American Dollar to Mexican Peso = 0.047112.