Updated BLM policy streamlines oil, gas leasing process
The Interior Department's Bureau of Land Management has revised leasing...
The Interior Department's Bureau of Land Management has revised leasing policies to shorten land parcel reviews for oil and natural gas leasing from up to 15 months to six and open more public land for development. Officials say the streamlined process will support job creation, strengthen energy security and help lower domestic energy costs.
JPow warns of supply shocks. Fed Chair Jerome Powell,...
JPow warns of supply shocks. Fed Chair Jerome Powell, on whose every word the stock market seems to move, said at a conference yesterday that, longer-term, interest rates are likely to stay higher amid constant changes to the economy. “We may be entering a period of more frequent, and potentially more persistent, supply shocks,” Powell said, “a difficult challenge for the economy and for central banks.” Powell also said the Fed is reviewing how it weighs its policy decisions surrounding curbing inflation and boosting employment. Stocks dropped following Powell’s comments but mostly recovered by the end of the day.
Air traffic control at Denver International Airport was hit by communication outages earlier this week, Bloomberg reported, days after Newark Liberty International Airport was plagued by radio and radar problems.
Ukrainian President Volodymyr Zelensky arrived in Turkey yesterday for scheduled peace talks with Russia, but Vladimir Putin was a no-show, sending a low-level delegation in his place.
The Odyssey, Christopher Nolan’s next blockbuster, will be the first commercial feature film to be shot entirely on Imax cameras, The Hollywood Reporter…reported.
Jamie Dimon admitted he “emoted a little bit” during an expletive-laden JPMorgan Chase town hall meeting in February when he railed against working from home (he’s still against it).
Oil prices settled down 2% on expectations for US-Iran nuclear deal
(Reuters)—Oil prices settled lower on Thursday on expectations of a...
(Reuters)—Oil prices settled lower on Thursday on expectations of a U.S.-Iran nuclear deal that could ease sanctions and release more barrels onto the global market.
Brent crude futures settled down $1.56, or 2.36%, to $64.53 a barrel. U.S. West Texas Intermediate crude futures settled down $1.53, or 2.42%, to $61.62.
U.S. President Donald Trump said on Thursday that the U.S. was getting close to securing a nuclear deal with Iran, and Tehran had "sort of" agreed to the terms.
An Iranian official told NBC News in an interview published on Wednesday that Iran was willing to agree to a deal with the U.S. in exchange for lifting economic sanctions.
"(Any) immediate sanctions relief stemming from a nuclear agreement could unlock an additional 0.8 million barrels per day of Iranian crude for the global market – an undeniably bearish development for prices," SEB analyst Ole Hvalbye said.
S&P 500 logs four-day win streak as stocks shake off earlier weakness
U.S. stocks closed mostly higher on Thursday, shaking...
U.S. stocks closed mostly higher on Thursday, shaking off earlier weakness. Economic data pointed to easing inflation and other positive signs for the economy.
Longer-term bond yields also eased back from recent highs, helping foster a more risk-on tone in markets.
According to preliminary data, the Dow Jones Industrial Average gained about 272 points, or 0.7%, closing near 42,322.
The S&P 500 rose about 0.4%, scoring a four-session win streak.
The Nasdaq Composite slipped about 0.2%.
Of note, missing from the rally in stocks were the "Magnificent Seven," which ended lower on Thursday.
PPI shows sharpest drop in wholesale-level inflation since 2020
The numbers: Wholesale prices posted the biggest drop...
The numbers: Wholesale prices posted the biggest drop in April since the pandemic in 2020, but the decline in inflation appeared to be a one-off tied to falling egg and gasoline prices and a quirky category that measures certain business profit margins.
The big reversal in the producer price index was unexpected. Economists polled by the Wall Street Journal had forecast a 0.3% increase last month.
Meanwhile, the wholesale inflation rate in the past year slowed to 2.4% from 3.4%.
Wholesale prices fell a slight 0.1% if the volatile categories of food, energy, and retail trade margins are omitted. The so-called core rate is seen as a better predictor of future inflation.
