Six months into war, Russian goods still flowing to US
On a hot, humid East Coast day this summer, a massive container ship pulled into the Port of Baltimore loaded with sheets of plywood, aluminum rods and radioactive material – Continue Reading
Texas grid avoids summer blackouts with $1 billion in extra spending
Surging natgas prices have added to power price pressures ERCOT broke demand records 11 times this summer Line congestion woes put $2.1 bln strain on producer costs Aug 25 (Reuters) Continue Reading
California Set to Approve Rules to Ban Gasoline-Powered Cars by 2035
President Biden’s Inflation Reduction Act calls for at least 50% of an electric vehicle’s battery to be made in the U.S. to qualify for a federal discount. WSJ’s George Downs Continue Reading
U.S. GDP Fell Less Than Previously Thought in Second Quarter
Brian Bethune, an economist at Boston College, said that the economy paused in the first half of 2022, but the solid labor market means it didn’t dip into a recession. Continue Reading
U.S. economy contracts mildly in second quarter; no sign of recession in underlying data
Second-quarter GDP contraction revised to 0.6% from 0.9% Gross domestic income rises at 1.4% rate in Q2 Average of GDP and GDI climbs at 0.4% pace Weekly jobless claims drop Continue Reading
U.S., Iran Edge Toward Nuclear Deal as Israel Warns It Cedes Too Much to Tehran
While Iran says it isn’t trying to build nuclear weapons, a look at its key facilities suggests it could develop the technology to make them. WSJ breaks down Tehran’s capabilities Continue Reading
Climbing Natural Gas Prices Could Force U.S. To Slash Exports To Europe
The United States has emerged as a top natural gas supplier to Europe. High domestic prices could force the United States to curb exports. If imports from the United States Continue Reading
Lagging Demand Won’t Keep Gas Prices From Soaring Again
After peaking in early-May at $5.02 per gallon, U.S. national average gas prices have declined for 70 straight days to trade at $3.88 per gallon on Wednesday, marking the second-longest Continue Reading
U.S. Diesel Prices Climb For First Time In Two Months
After an impressive run that saw U.S. diesel prices fall for 62 consecutive days, diesel prices at the pump rose overnight on Tuesday, snapping the longest losing streak in two Continue Reading
Oil Prices Rise On Major Crude Inventory Draw
The American Petroleum Institute (API) reported a large draw this week for crude oil of 5.632 million barrels, while analysts predicted a draw of 448,000 barrels. The build comes as Continue Reading