Empire State factory index has fallen further into negative territory in August
The numbers: The New York Fed’s Empire State business conditions index, a gauge of...
The numbers: The New York Fed’s Empire State business conditions index, a gauge of manufacturing activity in the state, plummeted 42.4 points to a negative 31.3 in August, the regional Fed bank said Monday.
This is the second largest monthly decline on record and among the lowest levels in the survey’s history, the regional Fed bank said.
Economists had expected a reading of 5.0, according to a survey by The Wall Street Journal.
Any reading below zero indicates deteriorating conditions
Petrobras Cuts Refinery Diesel Prices Again, Puts Amazon Basin Potash Rights On Sale
Brazilian state-run Petroleo Brasileiro (NYSE: ...
Brazilian state-run Petroleo Brasileiro (NYSE: PBR), also known as Petrobras, will lower refinery gate diesel prices by almost 4% from today, marking the second cut in a week after a drop in international prices.
The company said it would cut diesel prices to 5.19 reais ($1.01) from 5.41 reais, while gasoline prices were kept unchanged.
Brazil's Petroleo Brasileiro (NYSE: PBR), also known as Petrobras, said it has begun looking for bidders for its potassium mining rights in the Amazon basin.
The asset is composed of eight mining concessions, four mining requests already granted, and 22 requests for research that are still pending authorization, a total of 34 mining titles.
Permian Basin oil permit issuance up over 20% in July
The total number of drilling permits issued for the Permian Basin during July increased to 1,526 –...
The total number of drilling permits issued for the Permian Basin during July increased to 1,526 – up 273 or nearly 22% – driven by the rising price of West Texas Intermediate crude. The Basin now accounts for some 40% of all permits issued in the US, while the Texas Eagle Ford shale play makes up 13%, Evercore analysts wrote in a note.
US to release 20M barrels of oil from strategic reserve
The United States government will release 20 million barrels of oil from its Strategic Petroleum Reserve...
The United States government will release 20 million barrels of oil from its Strategic Petroleum Reserve for sale to a total of nine oil companies. This latest move follows the announcement in June of daily releases of an unprecedented 1 million barrels per day from the SPR between May and October.
A new European gas pipeline link could be ready in 9 months as support builds to bypass Russian supplies
A new European gas pipeline link could be ready in less than a year as the continent moves to minimize...
A new European gas pipeline link could be ready in less than a year as the continent moves to minimize its reliance on Russian supplies amid a worsening energy crisis.
On Friday, Spain's energy and environment minister told local media that a segment of the pipeline from Spain to France could be ready in nine months and boost gas export capacity by 20% to 30%, according to a Financial Times.
On Thursday, German Chancellor Olaf Scholz voiced support for a new pipeline, adding that he had discussed it with leaders from Spain, Portugal, and France, as well as European Commission president Ursula von der Leyen.
