More Trans Mountain crude flowing to US West Coast
According to Vortexa ship-tracking data, the US West Coast received 240,000...
According to Vortexa ship-tracking data, the US West Coast received 240,000 barrels per day of Canadian crude loaded from the expanded Trans Mountain pipeline in July, more than triple the previous month's volumes. Meanwhile, tanker shipments to Asia declined by 45% to 107,000 bpd, reflecting Canada's ongoing struggle to compete with Russian crude in Asian markets.
2 Permian disposal wells shut following earthquakes
The Railroad Commission of Texas has halted operations at two deep disposal...
The Railroad Commission of Texas has halted operations at two deep disposal wells in the Permian Basin in response to a series of recent earthquakes. The regulator also highlighted that several deep saltwater disposal wells have been converted to shallower ones over the past year to mitigate seismic activity.
Chevron announced on Aug. 2 that it will move its headquarters and top leadership from its longtime home in California to Houston, Texas’ unofficial energy capital of the world. The move will be completed by the end of the year.
Chevron Chairman and CEO Mike Wirth and Vice Chairman Mark Nelson will join the headquarters in making the move. They will co-locate with much of Chevron’s other top leadership, which is already based out of its large Houston hub.
Evan Gershkovich was freed in a historic prisoner swap. The...
Evan Gershkovich was freed in a historic prisoner swap. The Wall Street Journal reporter, who was wrongfully detained in Russia last year on bogus espionage charges, was released by the country yesterday as part of what the WSJ called “the largest and most complex East-West prisoner swap since the Cold War.” The release of Gershkovich and more than a dozen others held by Russia, including former US Marine Paul Whelan, came after months of negotiations between the US, Russia, and multiple other countries.
Intel announced it’s cutting 15,000 jobs, or 15% of its workforce, as it falls behind in chip manufacturing.
Uber partnered with Chinese EV maker BYD to adopt 100,000 vehicles for its ride-hailing platforms in Europe and Latin America.
Israel confirmed that it killed Hamas’s top military commander in an airstrike last month. Meanwhile, the New York Times reported that a bomb planted and hidden for months in an Iran complex is what killed Hamas political leader Ismail Haniyeh this week.
The Biden administration proposed a new rule that would ban airlines from charging parents more to sit with their kids on flights.
Dow falls nearly 500 points as recession fears reemerge
Spooked by lackluster economic data ahead of key earnings and a benchmark...
Spooked by lackluster economic data ahead of key earnings and a benchmark U.S. jobs report, major indexes plunged Thursday and yields on the 10-year Treasury note (TNX) dropped below 4% for the first time in six months.
Here's where the major benchmarks ended:
The S&P 500® (SPX) index fell 75.62 points (–1.4%) to 5,446.68; the Dow Jones Industrial Average® ($DJI) dropped 494.82 points (–1.2%) to 40,347.97; the Nasdaq Composite®($COMP) plunged 405.26 points (–2.3%) to 17,194.15.
The 10-year Treasury note yield dropped sharply to just below 3.98%, the lowest close since February 2.
The Cboe Volatility Index® (VIX) climbed to 18.59, the highest close since April.
