Panama Canal crisis takes a toll on US gasoline exports
Reduced shipping capacity through the Panama Canal due to severe drought has prompted some US Gulf Coast...
Reduced shipping capacity through the Panama Canal due to severe drought has prompted some US Gulf Coast refiners to slash gasoline export prices to $75 per barrel, the lowest since February 2021, while less profitable refiners may be forced to cut production, according to traders and analysts. With Gulf Coast gasoline exports through the Panama Canal down around 40% year over year in November, some foreign buyers are turning to alternative sources to meet demand needs.
At least 14 people were killed and dozens more injured, several of them critically, in a ...
At least 14 people were killed and dozens more injured, several of them critically, in a shooting at Charles University's faculty of arts building in Prague’s city center yesterday, marking the Czech Republic's deadliest mass shooting.
The university, founded in 1348, is one of the world’s oldest and sits near major tourist sites, including the 14th-century Charles Bridge.
Parts of Southern California received major rainfall yesterday as a reportedly once-every-thousand-year...
Parts of Southern California received major rainfall yesterday as a reportedly once-every-thousand-year storm system hovered over the region and headed toward Arizona, prompting flood watches for millions. Rescuers have aided dozens of stranded residents in several counties around Los Angeles and Santa Barbara while the town of Oxnard recorded over 3 inches of rain in one hour. No deaths have been reported as of this writing.
The energy sector is starting higher, supported by strength in the crude complex. Meanwhile, the major equity futures are mixed after US stocks bounced on Thursday following a largely unexplained late-day selloff in the prior session. Headline and core PCE came in a bit cooler than expected for November, fitting the broader disinflation theme.
WTI and Brent crude oil futures are higher in early trading on a weaker dollar and as more maritime carriers are avoiding the Red Sea due to recent attacks on vessels carried out by the Houthi militant group. Oil contracts are set for a second-consecutive higher week as hundreds of large vessels are rerouting around the southern tip of Africa, a longer route adding 10-14 days of travel, to escape drone and missile attacks by Yemeni Houthis that have pushed up oil prices and freight rates. Elsewhere, OPEC has yet to comment on Angola’s decision to leave the group. Oil-related news is quiet so far today in what should be a low-volume session of trading.
Natural gas futures are flat as preliminary estimates have storage for the week-ending today with a draw of (75) to (85) Bcf vs the 5-year average of (123) Bcf.
Historybook:Beethoven’s "Fifth Symphony" premieres (1808); Former first lady Lady Bird Johnson born (1912); Maurice and Robin Gibb of the Bee Gees born (1949); Colo becomes first gorilla born in captivity (1956); “Don’t ask, don’t tell” military policy repealed (2010).
Rudy Giuliani filed for bankruptcy after a jury ordered him to pay $148 million for defaming two former Georgia election workers.
Ikea warned that Houthi attacks on commercial ships in the Red Sea could delay its deliveries.
Bird flu is likely to spread in Antarctica, posing existential threats to some species, including emperor penguins, according to experts.
Vin Diesel was sued yesterday by a former assistant, who accused the Fast & Furious actor of sexual battery.
