Crude prices remain firm near $70 per barrel despite mounting warnings...
Crude prices remain firm near $70 per barrel despite mounting warnings of a supply glut later this year and into 2026, as strong seasonal demand and low inventories continue to support the market. The International Energy Agency and the Energy Information Administration both project surpluses of around 2 million barrels per day, driven by OPEC+'s rollbacks of supply cuts and increased production from non-OPEC sources.
US Gulf Coast refiners adjust crude sourcing strategies
More Middle Eastern and...
More Middle Eastern and South American crude is flowing to the US Gulf Coast as refiners in the region seek alternatives to scarce Venezuelan and Mexican barrels, ship tracking data show. Imports from South American countries, excluding Venezuela, climbed to a five-year high in July, while Middle Eastern volumes to the Gulf Coast reached 212,000 barrels per day, the most since January.
The Fed set to announce its interest rate decision
The construction helmet is gone, but JPow is still hard at work. The...
The construction helmet is gone, but JPow is still hard at work. The central bank meets this week and is widely expected to announce on Wednesday that interest rates will remain unchanged. That news likely won’t go over well with President Trump, who frequently criticizes Powell for not lowering rates. Those frustrations were on display last Thursday during a tour of ongoing renovations at the Federal Reserve—a project that Trump has used to ratchet up pressure on Powell.
Fantastic Four breaks $100 million at box office, and...
Fantastic Four breaks $100 million at box office, and a Marvel curse. The Fantastic Four: First Steps brought in $118 million in North America and another $100 million internationally, good for Marvel’s biggest opening weekend since last summer’s Deadpool & Wolverine. Earlier this year, the studio released Captain America: Brave New World, which got an underwhelming reception, and Thunderbolts, which was just whelming. What do audiences love about The Fantastic Four? Maybe it’s Pedro Pascal, who stars as Mister Fantastic, or maybe it’s because it’s a “no-homework-required movie,” as Marvel Chief Creative Officer Kevin Feige called it at a publicity event. He elaborated, “It literally is not connected to anything we’ve made before.”
At least 11 people were injured in a stabbing attack at the Walmart in Traverse City, MI. A suspect is in custody.
