The prospect of oil going up to $100 per barrel has increased as conflict...
The prospect of oil going up to $100 per barrel has increased as conflict continues in the Middle East, but investors expect OPEC's spare capacity could cap prices. Benchmark global prices are up 23% from mid-December, which has boosted inflation. If oil prices continue to rise towards $95 a barrel, this could increase pressure on OPEC to roll back production cuts and increase output, said Frederic Lasserre, global head of research and analysis at Gunvor.
Gibson pins growth hopes on US oil export opportunities
Canada's Gibson Energy expects heightened profitability for its South...
Canada's Gibson Energy expects heightened profitability for its South Texas Gateway Terminal, which it acquired last year for roughly $1.1 billion, as rising oil production from the Permian Basin drives increased US crude exports. Gibson plans to capitalize on this trend by optimizing contracts and upgrading the terminal infrastructure, Chief Financial Officer Sean Brown said.
Colorado loads another round against Utah crude oil trains
Colorado legislators made another recent step against crude oil being transported by rail through the...
Colorado legislators made another recent step against crude oil being transported by rail through the state from Utah. The House okayed legislation to limit the length of trains to reduce the chances of a hazardous spill.
It’s the latest volley against the Uinta Basin Railway that has gone to the US Supreme Court after a U.S. Court of Appeals ruled in support of counties and environmental groups who fought a Surface Transportation Board ruling to support expanded crude oil rail transportation through Colorado.
While waiting on a decision from the Supreme Court, the Uinta Basin Railway also plans to increase the size of the existing trains going through Colorado, reported the Colorado Sun.
The US slapped Iran with new sanctions. The sanctions,...
The US slapped Iran with new sanctions. The sanctions, in response to Iran’s drone attack on Israel last week, seek to “degrade and disrupt” the Iranian drone program, Treasury Secretary Janet Yellen said yesterday. They also target Iran’s steel production by cutting off companies from banks that use the US dollar. The sanctions appear to be an attempt to punish Iran for its attack without further inflaming tensions in the Middle East. It’s not clear how effective the sanctions will be because Iranian companies do not rely much on Western economies.
Netflix had another smash quarter, adding a much better-than-expected 9.3 million subscribers in Q1 as the streaming leader cracks down on password sharing and keeps churning out content.
Meta released its latest AI model, Llama 3, and is integrating its AI assistant across all of its apps in its quest to compete with ChatGPT. In other Meta news, Mark Zuckerberg passed Elon Musk as the third-richest person in the world.
The FDA approved rapid concussion blood tests that could be used on the sidelines of NFL games.
Trader Joe’s stopped selling fresh basil in 29 states due to a salmonella outbreak.
Dickey Betts, guitarist and co-founder of the Allman Brothers Band, died yesterday at 80.
Israel has carried out a military strike inside Iran, a US official told...
Israel has carried out a military strike inside Iran, a US official told CNN, as blasts were heard near the city of Isfahan early Friday in a potentially escalatory move Iranian government officials have so far sought to play down.
The US was given advance notification Thursday of an intended Israeli strike in the coming days, but did not endorse the response, a second senior US official said.
