US Sour Crude Cargo Sails to Germany as Russia Sanctions Bite
A tanker of U.S. sour crude was delivered at Germany’s port of Rostock last week for the first time...
A tanker of U.S. sour crude was delivered at Germany’s port of Rostock last week for the first time ever, according to sources, analysts and vessel tracking data, as local refiners test alternatives to Russian oil.
The EU plans an almost-complete embargo of Russian barrels by year-end and is trying to wean itself off Russian crude imports, which have fed inland refineries in Germany, Poland and other central European nations via pipeline.
Refiners plan to replace Russian oil with seaborne Norwegian, Saudi Arabian, British, and U.S. crude grades. Russia has already shown through its natural gas exports that it is willing to cut off European destinations in a tit-for-tat over the EU’s financial sanctions that followed Moscow's invasion of Ukraine in February.
Gas prices have finally dropped below $4 a gallon, but a slowing economy means weaker demand - the US government has cut its consumption forecast for a 4th time
Gas prices will remain volatile as the energy market struggles with demand and supply uncertainty, according...
Gas prices will remain volatile as the energy market struggles with demand and supply uncertainty, according to a market analyst.
Goldman Sachs' top economist warns the recent stock market rally fueled by
Goldman Sachs warns the recent stock market rally fueled by 'Fed pivot' hopes will die off despite...
Goldman Sachs warns the recent stock market rally fueled by 'Fed pivot' hopes will die off despite 'disinflation.' Its chief economist lays out why equities investors could be in danger despite the apparent boom in the jobs market
CPI report shows U.S.’s annual inflation rate slowing to 8.5% in July
The numbers: The consumer price index was unchanged in July, the Labor Department said...
The numbers: The consumer price index was unchanged in July, the Labor Department said Wednesday, a much slower pace compared with the 1.3% gain in the prior month. Economists polled by The Wall Street Journal had estimated a 0.2% advance in July.
The rate of inflation in the 12 months ended in July retreated to 8.5% from a 41-year high of 9.1% in June.
The closely-watched “core” measure of inflation that omits volatile food and energy also rose 0.3 in July, down from a 0.5% gain in the prior month. The 12-month rate remained steady at 5.9%.
Key details: The big rise in inflation was the cost of food, which rose 1.1% in July. Over the past year, food prices are up 10.9%, the highest since May 1979.
Energy prices fell 4.6% in July, with gas prices down 7.7%.
MarketWatch: Elon Musk offloads nearly $7 billion in Tesla stock
Elon Musk sold almost $7 billion in Tesla Inc. stock in recent days, according to filings Tuesday with...
Elon Musk sold almost $7 billion in Tesla Inc. stock in recent days, according to filings Tuesday with the Securities and Exchange Commission.
According to the filings, the Tesla chief executive sold around 7.9 million shares between Friday and Tuesday, at prices ranging from $838.57 to $911.75 — roughly $6.88 billion in total.
Last week, Tesla shareholders approved plans for a 3-for-1 stock split, which will take place Aug. 24. Trading will begin on a stock split-adjusted basis on Aug. 25, the company said in a regulatory filing.
