Marathon Gets More time to Build LNG Import Project in Alaska
Marathon Petroleum Corp.’s Trans-Foreland Pipeline Co. unit received more time to...
Marathon Petroleum Corp.’s Trans-Foreland Pipeline Co. unit received more time to convert the Kenai LNG export plant in Alaska into an import terminal, U.S. energy regulators said on Aug. 16.
The U.S. Federal Energy Regulatory Commission (FERC) approved Trans-Foreland’s request for an extension to complete the project until December 2025.
FERC first approved Trans-Foreland’s request to build the plant in December 2020 and gave the company until December 2022 to place it into service.
US stock futures fall early Wednesday, as investors brace for the minutes from the...
US stock futures fall early Wednesday, as investors brace for the minutes from the Fed's July meeting, due to be published at 1 p.m. ET. Meanwhile, UK inflation flew past 10%, a new 40-year high. Here are this morning's market moves.
The sound of one giant sigh of relief can be hard across Oklahoma…thanks to a cool front that arrived...
The sound of one giant sigh of relief can be hard across Oklahoma…thanks to a cool front that arrived Tuesday evening bringing with it a chance of rain and perhaps a temporary end to the sweltering heat with temperatures higher than 100 degrees.
But Gary McManus, State Climatologist with the Oklahoma Mesonet says the cooler weather is more likely than any rainfall. Rain showers starting in the north and perhaps moving southward could occur.
“No, it’s the three or four successive fronts that are being forecast for the next couple of weeks that appear to drive a nail into the coffin of our summer heat wave and possibly do deadly damage to our runaway flash drought. So not only are we looking at some widespread rain and relief this weekend into early next week, but this mild and wet spell should extend well into next week and possibly beyond,” predicted McManus in his Mesonet report.
U.S. retail sales flat in July but up 0.7% excluding gasoline and automobiles
The numbers: Sales at U.S. retailers fell flat in July, but largely because of falling...
The numbers: Sales at U.S. retailers fell flat in July, but largely because of falling gas prices and fewer purchases of new cars and trucks. Sales were stronger at other retailers, especially online stores such as Amazon. Economists polled by The Wall Street Journal had forecast a 0.1% increase in sales.
Retail sales are a big part of consumer spending and offer clues about the strength of the U.S. economy. Sales have slowed this year, but not enough to suggest the economy is in trouble.
If autos and gasoline stations are set aside, sales rose a solid 0.7% in July. Internet sales surged 2.7%, helped by Amazon Prime Day in the middle of the month. Inflation did not play as big a role as in previous months.
U.S. natural gas shoots to 14-year high as Europe prices near records
U.S. natural gas futures ended Tuesday's session at ...
U.S. natural gas futures ended Tuesday's session at 14-year highs, lifted partly by soaring natural gas prices in Europe that have climbed in recent days to their highest levels since Russia's invasion of Ukraine, and just shy of all-time highs.
Front-month Nymex natural gas (NG1:COM) for September delivery settled +6.9% to $9.329/MMBtu, the best closing level since August 2008; gas was trading at ~$66/MMBtu in Europe and a record $57 in Asia.
Among other factors contributing to gains in U.S. natural gas include a heat wave in California, higher air conditioning demand than previously expected, forecasts for more hot weather, and technical and option trading.
