API reports larger-than-expected crude inventory draw
US crude oil stockpiles...
US crude oil stockpiles declined by 9.16 million barrels last week, far exceeding analysts' expectations of a 150,000-barrel decrease, the American Petroleum Institute reported. The API data showed that gasoline supplies expanded by 2.47 million barrels, while distillate inventories shed 740,009 barrels.
DOE moves to cut gas prices with gasoline reserve sale
The Energy Department has...
The Energy Department has sold 1 million barrels of gasoline from the Northeast Gasoline Supply Reserve at an average price of $2.34 per gallon as part of the planned closure of the stockpile. Timed strategically before the July 4 holiday, the sale aims to lower regional gasoline prices and ensure sufficient supply for northeastern states during peak travel times.
U.S. economy generated 150,000 new private-sector jobs in June: ADP
The numbers: Paycheck company ADP said U.S. businesses...
The numbers: Paycheck company ADP said U.S. businesses added a modest 150,000 new jobs in June, marking the smallest increase in five months, possibly another sign the labor market is cooling. Economists polled by the Wall Street Journal had forecast a gain of 160,000.
“Job growth has been solid, but not broad-based,” said Nela Richardson, chief economist, ADP. “Had it not been for a rebound in hiring in leisure and hospitality, June would have been a downbeat month.”
ADP is not a good historical predictor of the government’s official jobs estimate, which follows a few days later, but the two reports do move in the same direction over time.
The government is expected to report on Friday that 200,000 new jobs were created in June, according to a Wall Street Journal poll.
Streamlined logistics and advanced technologies such as zipper fracs,...
Streamlined logistics and advanced technologies such as zipper fracs, simul-fracs and hydraulically actuated frac manifolds are optimizing wellbores, cutting emissions and improving environmental stewardship in the US oil and gas sector, according to industry leaders and analysts. Additionally, the shift to 24/7 operations and electric fleets further reduces environmental impact and fuel costs, while AI and machine learning are taking equipment monitoring and predictive maintenance up a notch.
A short seller that caused Adani's rout says it didn’t make...
A short seller that caused Adani's rout says it didn’t make that much. When Hindenburg Research published its report accusing the business empire of Indian billionaire Gautam Adani of “brazen stock manipulation” last year, it shaved over $100 billion from the value of the companies—but its bet against them netted the short seller just $4.1 million. Hindenburg published the figure on its website this week, along with a letter from Indian securities regulators accusing the firm of intentionally misleading the public in the report. Hindenburg criticized the regulator right back, saying it failed to investigate the fraud allegations against Adani.
More than 100 people were killed in a stampede at a religious gathering in northern India, police said.
Hurricane Beryl, a Category 4 storm, is expected to hit Jamaica today.
Skydance and Paramount may have a deal after all. Despite previously calling off merger talks, Skydance is said to have come to terms to buy Shari Redstone’s company National Amusements, which owns the majority of Paramount’s shares.
CDK Global said “substantially all” of the ~15,000 car dealerships that use its software are back to normal, nearly two weeks after a cyber attack shut the software down.
Moderna will get $176 million from the US to develop a bird flu vaccine.
Rudy Giuliani, the former federal prosecutor, NYC mayor, and legal advisor to Donald Trump, was disbarred in New York for repeatedly lying about Trump’s 2020 election loss.
The Supreme Court is gearing up for another spicy term: It agreed to consider a case challenging a Texas law requiring age verification to access porn websites, as well as a suit that takes aim at the FDA’s regulation of sweet-flavored vapes.
