Japan gets green light to dump radioactive water in the ocean
The UN’s nuclear agency signed off Tuesday on the nation’s controversial plan to ...
The UN’s nuclear agency signed off Tuesday on the nation’s controversial plan to release more than a million metric tons of treated but still radioactive wastewater from the Fukushima power plant that was destroyed in 2011 into the Pacific Ocean. Some nearby countries object, but the experts are split on whether the plan is safe or could create a Godzilla situation. Other countries, including the US and China, have disposed of diluted nuclear waste in the ocean before, according to USA Today.
ADP: U.S. private sector added 497,000 jobs in June — twice economists’ forecast
The numbers: The U.S. private...
Thenumbers: The U.S. private sector added 497,000 jobs in June, according to the payroll services firm ADP, compared with a revised 267,000 in May. The increase reported Thursday was the biggest since July 2022.
Economists polled by the Wall Street Journal had forecast a gain of 220,000 private-sector jobs.
Key details: Service-sector firms added 373,000 jobs in June, while goods-producing employment rose 124,000.
Big picture: ADP’s report comes a day before the Labor Department’s closely watched employment report. ADP revised its methodology last year and has said it does not try to forecast the government’s monthly job report.
Callon Petroleum Co. closed on July 3 its previously announced...
Callon Petroleum Co. closed on July 3 its previously announced Delaware Basin acquisition of Percussion Petroleum Operating II LLC and exited the Eagle Ford in a sale to Ridgemar Energy Operating LLC.
Collectively, the A&D was valued at about $1.13 billion.
Callon paid for the Percussion’s Delaware assetswith a combination of $249 million in cash and approximately 6.3 million shares of Callon common stock.
In the Eagle Ford, Callon received $551 million in cash for its sale to Ridgemar,which is backed by Carnelian Energy Capital Management LP. The transactions are still subject to post-closing adjustments and reflect an effective date of Jan. 1, 2023, the company said in a July 5 press release.
U.S. stocks snap three-day winning streak following Fed minutes
U.S. stocks finished modestly lower Wednesday, with the S&P...
U.S. stocks finished modestly lower Wednesday, with the S&P 500 snapping three straight trading days of gains, as investors weighed minutes from the Federal Reserve’s June meetingand signs of slowing growth in China. The S&P 500SPX closed 0.2% lower, while the Dow Jones Industrial Average DJIA fell 0.4% and the Nasdaq CompositeCOMP slipped 0.2%, according to preliminary data from FactSet. Minutes from the Federal Reserve’s minutes June policy meeting, released on Wednesday, showed some support from Fed officials for an interest rate hike last month although the central bank decided to hold its benchmark rate steady. Fed-funds-futures traders are still largely expecting that the central bank will raise rates in July after it slowed the pace of its hiking cycle earlier this year. The Fed had signaled last month that further increases may be coming this year as part of its effort to bring down high inflation.
Oil on rise as Saudis reportedly pledge to do what’s necessary to support price
Oil futures headed sharply higher on Wednesday, finding support...
Oil futures headed sharply higher on Wednesday, finding support after Saudi Arabia’s energy minister reportedly said that the kingdom will do whatever is necessary to support the oil market. Tensions in the Middle East, following news of an attempt by Iran to seize two oil tankers at the Strait of Hormuz, also provided support to oil prices.
The comments from Saudi Energy Minister Prince Abdulaziz at an OPEC+ seminar were reported by a number of news agencies and follow the Saudi’s announcement Monday that it would extend its voluntary production cut by another month, through August.
West Texas Intermediate crude for August deliveryCL00 the U.S. benchmark, was up $2.06, or 3%, at $71.85 a barrel. WTI futures didn’t settle Tuesday due to the holiday.
September Brent crudeBRN00 the global benchmark, was down 20 cents, or 0.3%, at $76.05 a barrel on ICE Futures Europe.
Back on Nymex, August gasolineRBQ23 rose 2.5% to $2.5242 a gallon, while August heating oil HOQ23 added 4.8% to $2.4904 a gallon.
August natural gas NGQ23, -1.62% was down 1.2% at $2.676 per million British thermal units.
