Hindenburg allegations tank Adani stocks…again. Companies...
Hindenburg allegations tank Adani stocks…again. Companies owned by the Adani Group lost ~$2.4 billion in value yesterday after short-seller Hindenburg Research claimed the chair of India’s capital markets regulator didn’t thoroughly look into its earlier fraud allegations against the conglomerate because she had previously invested in offshore funds tied to Adani. It could have been worse for Adani: Earlier in the day, the companies were down ~$13.4 billion before making a partial comeback. At one point after Hindenburg made its initial allegations last year, the Adani Group shed $150 billion in value. Both Adani and the regulator deny any wrongdoing.
The US sent a guided-missile submarine to the Middle East as Israel braces for an attack from Iran in retaliation for Israel killing a Hamas leader on Iranian soil.
Ukraine’s military claimed to control 1,000 square kilometers (386 square miles) of Russian territory in the Kursk region in their largest foray over the border since Russian forces invaded two and a half years ago.
Angelenos felt the earth move yesterday when a 4.4-magnitude earthquake hit Southern California.
U.S. stocks finish mixed Monday as Wall Street continues to digest volatility
U.S. stocks ended mixed on Monday as investors continued...
U.S. stocks ended mixed on Monday as investors continued to digest extreme volatility from last week.
The Dow Jones Industrial Averageended roughly 0.4% lowerafter back-to-back gains. The S&P 500was unchanged and the Nasdaq Compositefinished up 0.2% for its third straight daily gain.
According to the United States Geological Survey, Los Angeles was rattled on Monday afternoon by a 4.4-magnitude earthquake.
According to the agency, the earthquake struck at 12:20 p.m. and was centered just outside of Pasadena, about five miles northeast of downtown Los Angeles.
There have been no initial reports of widespread damage, said Margaret Stewart, a spokeswoman for the Los Angeles Fire Department. Firefighters from each of the city’s 106 fire stations were driving through their districts to survey any effects, she said, and would be able to provide more detailed assessments within the next hour.
According to the U.S.G.S, the earthquake was felt across Southern California, with reports of shaking from Bakersfield to San Diego.
Chevron's Gulf of Mexico Anchor Project Begins Production
Chevron announced on Aug. 12 that it has started...
Chevron announced on Aug. 12 that it has started producing oil and natural gas from the Anchor project in the deepwater Gulf of Mexico.
Anchor production marks the successful delivery of high-pressure technology rated to safely operate at up to 20,000 psi, with reservoir depths reaching 34,000 ft below sea level, Chevon said in a press release. The $5.7 billion project reached its final investment decision in 2019.
The Anchor semisubmersible floating production unit (FPU) has a gross design capacity of 75,000 bbl/d of oil and 28 MMcf/d of natural gas.
Gasoline prices take another slip downward in Oklahoma
U.S. gasoline prices slipped three cents in the past week to a new national...
U.S. gasoline prices slipped three cents in the past week to a new national average of $3.44 per gallon, while Oklahoma prices fell by three cents to $3.04 per gallon.
Motorists might remember that Oklahoma’s average was $3.15 a month ago. What is surprising is that the cheapest gasoline prices are in Oklahoma-the Panhandle.
According to AAA, Cimarron County, the far western county in the Panhandle, has an average price of $2.75 per gallon. Coal County in the southeast continued with the highest average price of $3.63 per gallon.
Oklahoma City’s average slipped a penny to $3.06. Tulsa’s average dropped 8 cents to $2.94 per gallon, and Lawton’s average declined one cent to $2.93 per gallon.
