United Arab Emirates President Sheikh Khalifa dies at 73
Sheikh Khalifa bin Zayed Al Nahyan became the Gulf country's second president in 2004. He was also...
Sheikh Khalifa bin Zayed Al Nahyan became the Gulf country's second president in 2004. He was also the ruler of Abu Dhabi, the largest and wealthiest of the seven emirates that comprise the UAE. Sheikh Khalifa's younger brother, Crown Prince Sheikh Mohammed Bin Zayed Al Nahyan, is expected to take his place.
After six power plants go offline amid heat wave, ERCOT asks Texans to conserve energy use
With high temperatures throughout the weekend creating a high demand for energy, the Electric Reliability...
With high temperatures throughout the weekend creating a high demand for energy, the Electric Reliability Council of Texas is asking Texans to conserve power.
ERCOT said six power plants went offline on Friday afternoon, resulting in the loss of about 2,900 megawatts of electricity.
“With unseasonably hot weather driving record demand across Texas, ERCOT continues to work closely with the power industry to make sure Texans have the power they need,” ERCOT said in a news release on May 13.
They’re asking Texans to set their thermostats to 78 degrees or above and avoid the usage of large appliances such as dishwashers, washers, and dryers during peak hours between 3 p.m. and 8 p.m. through the weekend.
US Drillers Add Oil, Gas Rigs for Eighth Straight Week
U.S. energy firms last week added oil and natural gas rigs for an eighth week in a row...
U.S. energy firms last week added oil and natural gas rigs for an eighth week in a row as high prices and prodding by the federal government prompted drillers back to drilling.
The total oil and gas rig count, an early indicator of future output, rose nine to 714 in the week to May 13, its highest since March 2020, energy services firm Baker Hughes Co said in its closely followed report.
U.S. oil rigsrose six to 563 this week, their highest level since March 2020, while gas rigsgained three to 149, their highest since September 2019.
⛽️Gasoline futures closed at a record high Friday as oil gained for the week
Gasoline futures surged to a record close Friday, providing a lift for crude oil that erased...
Gasoline futures surged to a record close Friday, providing a lift for crude oil that erased a weekly loss.
West Texas Intermediate crude for June delivery CL00, 3.78%CLM22, 3.79%CL.1, 3.79% rose $4.36, or 4.1%, to finish at $110.49 barrel on the New York Mercantile Exchange, leaving it up 0.7% for the week.
July Brent crude BRN00, -0.15%BRNN22, -0.15%, the global benchmark, rose $4.10, or 3.8%, to settle at $111.55 a barrel, logging a 0.8% weekly gain.
June gasoline RBM22 rose 16.61 cents, or 4.4%, to close at $3.9578 a gallon, up more than 5% for the week. June heating oil HOM22 rose 0.1% to $3.9212 a gallon.
June natural gas NGM22, -0.96% rose 1% to finish at $7.663 per million British thermal units, 4.7% for the week.
MarketWatch: Dow ends up over 400 points, Nasdaq up 3.8% Friday, but still see weekly decline
U.S. stocks finished higher Friday, but with the Dow still ending the seventh week in...
U.S. stocks finished higher Friday, but with the Dow still ending the seventh week in a row lower, as investors worried about the Federal Reserve's ability to tamp down high inflation without kicking the economy into a recession. The Dow Jones Industrial Average DJIA, +1.47% gained about 465 points Friday, or 1.5%, ending near 32,196. The S&P 500 index SPX, +2.39% gained 2.4%, after coming close to entering a bear-market territory on Thursday, and the Nasdaq Composite Index COM, +0.72% jumped 3.8%. The bounce heading into the weekend still wasn't enough to erase sharp earlier losses. The Dow ended the week 2.1% lower for a seventh week in a row, tallying its sharpest 7-week percentage point plunge since April 24, 2020, according to Dow Jones Market Data. The S&P 500 lost 2.4% for the week and the Nasdaq shed 2.8% since Monday.
