U.S. targets Chinese, UAE firms in new Iran oil sanctions
The United States on Monday imposed sanctions on Chinese and other firms it said helped to sell tens of millions of dollars’ in Iranian oil and petrochemical products to East Continue Reading
U.S. manufacturing slows modestly; excess inventories a major concern
U.S. manufacturing activity slowed less than expected in July and there were signs that supply constraints are easing, with a measure of prices paid for inputs by factories falling to Continue Reading
Here’s What the Six Key Official Indicators of US Recession Show
Shoppers inside a grocery store in San Francisco, California.Photographer: David Paul Morris/Bloomberg The official arbiters of US recessions look at six monthly indicators in determining whether the nation is indeed Continue Reading
U.S. emergency crude stockpile falls to lowest in 37 years
The U.S.emergency crude oil stockpile fell by 4.6 million barrels last week its lowest level since May 1985, according to the Department of Energy on Monday. Crude held in the Continue Reading
Texas power use to break records again this week – ERCOT
Power use in Texas will break records again this week as homes and businesses crank up their air conditioners to escape another heatwave, the state’s power grid operator projected on Continue Reading
U.S. Gasoline Prices Continue To Slide Toward $4
The national average for a gallon of gasoline in the United States fell again on Monday to $4.212, according to AAA data. U.S. gasoline prices are down 14.3 cents from Continue Reading
Manchin Spending Deal Includes Billions in Oil Import Taxes
Manchin Pitches Sinema on Democrats’ Tax-Climate Bill The climate and tax spending deal announced last week by Senate Majority Leader Chuck Schumer and Senator Joe Manchin could cost billions in Continue Reading
How the New Climate Bill Would Reduce Emissions
If signed into law, the bill’s hefty tax incentives for low-carbon technologies could enable the country to cut its net greenhouse gas emissions by roughly 40 percent below 2005 Continue Reading
US South Central gas storage deficit widens amid elevated demand, prices
Hot weather and high gas prices in Texas and the Southeast are posing a renewed threat to gas storage in the US South Central region as strong spot gas demand Continue Reading
Baker Hughes to sell Russian oilfield services unit
Baker Hughes (BKR.O) said on Monday it signed a deal to sell its oilfield services (OFS) business in Russia to the local management team, months after stopping new investments in Continue Reading