Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 20 December.

CP Chem’s US, Qatar JV projects on track for 2026 startup – Phillips 66
Two world-scale joint venture projects being developed by Chevron Phillips Chemical and QatarEnergy remain on track to start operations in 2026, Phillips 66 said on Monday.

Canada in turmoil as finance minister resigns, CEOs worry about fiscal policies
Canadian CEOs and business trade groups are warning about the state of Canada’s fiscal policies.

US Fed cuts rate by quarter point, expects fewer cuts in 2025
The Federal Reserve lowered on Wednesday its benchmark interest rate by a quarter point while reducing the number of cuts it expects to make in 2025.

INSIGHT: US Gulf chems face more freezing spells amid warmer winters
Chemical plants and refineries along the Gulf Coast of the US will likely face another winter that will be warmer than usual but punctuated with brief periods of freezing temperatures, which could disrupt operations.

Oil prices fall on stronger US dollar, looming US government shutdown
Oil prices fell sharply on Friday on a stronger US dollar and amid a looming US government shutdown over the failure to pass a budget bill in the House of Representatives.

SHIPPING: Asia-US container rates surge as volumes pulled forward ahead of strike, tariffs
Rates for shipping containers from east Asia and China to the US surged this week as importers pulled volumes forward ahead of the possible restart of the US Gulf and East Coast port strike and anticipated tariff hikes under the incoming Trump Administration.