IEA: Oil supply to outpace demand, creating surplus
Oil supply is set to increase more than expected this year, driven by...
Oil supply is set to increase more than expected this year, driven by OPEC+ and non-OPEC production, potentially creating an untenable surplus by 2026, according to the International Energy Agency. The IEA expects supply to rise 2.7 million barrels per day in 2025, outpacing demand growth, which is forecast at 740,000 barrels per day. The IEA also anticipates a further production increase of 2.1 million bpd in 2026, and says there "are a number of potential twists and turns ahead -- including geopolitical tensions, trade policies and additional sanctions on Russia and Iran -- that could yet alter market balances."
U.S. oil, gas sector sees best lending climate in years
Banks are extending larger commitments and better terms to US oil and...
Banks are extending larger commitments and better terms to US oil and natural gas producers in what's shaping up as the most favorable lending environment for the sector since before the coronavirus pandemic, according to BOK Financial Senior Vice President Matt Chase. Both regional and larger lenders are ramping up energy financing, while equity capital is also trickling back, with investment concentrating on high-quality gas projects.
Breaking news: U.S. inflation accelerated in August
U.S. inflation accelerated in August...
U.S. inflation accelerated in August at a speed that is likely to keep the Federal Reserve cautious about lowering borrowing costs too quickly once it restarts cuts as soon as next week.
The Consumer Price Index, released on Thursday by the Bureau of Labor Statistics, rose 2.9 percent compared with the same time last year, the fastest annual pace since the start of 2025.
“Core” inflation, which the central bank tracks as a gauge of underlying inflation since it strips out volatile items like energy and food prices, steadied at 3.1 percent.
The overall measure of inflation rose 0.4 percent for the month, slightly higher than economists had expected. The core measure rose 0.3 percent.
🇺🇸 U.S. marks 24th anniversary of 9/11 terror attacks
NEW YORK (AP) — Americans are marking 24 years since the Sept. 11,...
NEW YORK (AP) — Americans are marking 24 years since the Sept. 11, 2001, attacks with solemn ceremonies, volunteer work and other tributes honoring the victims.
Many loved ones of the nearly 3,000 people killed will join dignitaries and politicians at commemorations Thursday in New York, at the Pentagon and in Shanksville, Pennsylvania.
The remembrances are being held during a time of increased political tensions. The 9/11 anniversary, often promoted as a day of national unity, comes a day after conservative activist Charlie Kirk was shot and killed while speaking at a college in Utah.
NATO held talks after Russian drones shot down in Poland
After Polish and Dutch jets shot down Russian drones over Poland amid...
After Polish and Dutch jets shot down Russian drones over Poland amid Russia’s aerial bombardment of neighboring Ukraine, NATO members held talks yesterday to discuss the implications. Article 5 of the treaty that created the defense alliance, which calls on members to guarantee each other’s security, is the best known, but the talks were held under Article 4, which allows members to raise their security concerns for discussion—without automatically prompting a response. Russia said it did not intend to attack targets in Poland after EU leaders condemned the incursion. Poland’s prime minister said, “This situation brings us the closest we have been to open conflict since World War II.”
