Post-tropical cyclone Ophelia dropped heavy rainfall on densely populated areas on the East Coast over the weekend. New York City issued a travel advisory through Sunday, while city residents who live in basement apartments in at-risk areas were told to prepare to move to higher ground and avoid flooded subway stations. The Weather Prediction Center warned that excessive rainfall over parts of the northern mid-Atlantic and southern New England from yesterday into this morning could create flash flooding.
Stock investors face a wall of worry headed into the end of the year
Investors face a growing list of risks heading into the fourth...
Investors face a growing list of risks heading into the fourth quarter that just keeps getting bigger — from rising interest rates to a possible revival of inflation and gridlock in Washington that may become headwinds for economic growth.
The Federal Reserveremains in rate-hiking mode and is unlikely to cut borrowing costs next year by as much as previously thought. The prospect of $100-a-barrel oil at a time of expanded strikes by the United Auto Workers union is reigniting inflation concerns. Meanwhile, mitigating factors that could slow economic growth — such as the possibility of a government shutdown and the resumption of student-loan payments — might not be enough to shake the Fed’s inflation-fighting resolve. READ MORE
US crude oil, petroleum product exports had a strong H1
Strong demand for propane and other hydrocarbon gas liquids pushed US...
Strong demand for propane and other hydrocarbon gas liquids pushed US petroleum product exports up by 2% year over year to almost 6 million barrels per day in the first six months of 2023, setting a first-half record in Energy Information Administration data going back to 1981. US crude oil exports expanded at an even faster pace in the first half, by 19% to 4 million bpd, the EIA reported.
Sempra Infrastructure has received Federal Energy Regulatory Commission approval for the Port Arthur LNG Phase 2 expansion project in Jefferson County, Texas, which involves two new liquefaction trains that would double the facility's total liquefaction capacity to about 28.6 million short tons per year. The FERC has also authorized a project at Venture Global's Calcasieu Pass LNG plant in Louisiana and endorsed pipeline extensions proposed by Berkshire Hathaway's Northern Natural Gas and Enbridge's Texas Eastern Transmission.
Microsoft is thisclose to completing its $69 billion takeover of Call of Duty-maker Activision Blizzard now that UK regulators gave the restructured deal a preliminary nod.
Striking writers and Hollywood studios failed to reach a deal yesterday during a third consecutive day of bargaining, according to The Hollywood Reporter, but talks are expected to continue.
McDonald’s is planning to raise its royalty fee for new franchise locations for the first time in 30 years.
California will let insurers factor wildfire risks into home insurance prices to try to keep them from fleeing the disaster-prone state.
A stake in the Golden State Warriors is for sale in a deal that values the team at $7 billion, Bloomberg reports. Not bad for a team purchased for ~$450 million in 2010.
