EIA: US oil production up, gas output down in April
Energy Information Administration data show that US oil...
Energy Information Administration data show that US oil production increased by 72,000 barrels per day month over month, to a four-month high of 13.25 million bpd in April, while crude oil and petroleum products demand climbed to 20 million bpd, the highest this year. In contrast, the EIA reported that gross natural gas production in the contiguous US declined for a second consecutive month to 114 Bcf/d in April.
Record-Breaking Travel Volumes Expected July 4th Weekend as > 600,000 Oklahomans Plan to Travel
Traffic is already on the upswing for the July 4th holiday weekend, as...
Traffic is already on the upswing for the July 4th holiday weekend, as more than 600,000 Oklahomans are expected to make at least a short drive of 50 miles or more over the coming weekend. They will be among 71 million Americans going somewhere this week for the Independent Day celebration or taking advantage of the near-midweek observation.
AAA says the number of motorists is expected to be 5.2% more than a year ago and will set a record for the holiday travel. The organization explained that it looked at the entire July 4th week plus the Saturday before and the Sunday after the holiday in making its predicted estimate.
More than 85% of travelers – or more than 550,000 Oklahomans – will hit the road for the holiday, up 4.6% over last year. Air travel is up 6.5% over last year, with AAA projecting more than 60,000 Oklahomans, 9.4% of local travelers, will take to the skies. And, travel by other modes of transportation, which was the slowest to recover from the pandemic, is up 13.9% over last year, with more than 30,000 Oklahomans, 5% of local travelers, training, busing, or cruising to their holiday destinations.
Saudi Arabia is getting its first Trump Tower. The...
Saudi Arabia is getting its first Trump Tower. The Trump Organization said it’s teaming up with a local developer to build a luxury high-rise tower in Jeddah, Saudi Arabia. The development marks the company’s first major project in the kingdom, and extends the Trump family’s business ties to Gulf countries despite concerns over conflicts of interest, should Trump regain the presidency. A $500 million five-star Trump International hotel complex in Oman is expected to open in 2028 with amenities like a golf course and a nightclub. And the Saudi-backed LIV Golf league has also paid the Trump family to host tournaments at their properties.
Beryl made landfall on the Caribbean island of Carriacou as an “extremely dangerous” Category 4 hurricane. It has since strengthened into the earliest Category 5 storm on record.
Benchmark U.S. crude oil for August delivery rose $1.84 to $83.38 per barrel Monday. Brent crude for September delivery rose $1.60to $86.60 per barrel.
Wholesale gasoline for August delivery rose 5 cents $2.58 a gallon. August heating oil rose 8 cents to $2.61 a gallon. August natural gas fell 12 cents to $2.48 per 1,000 cubic feet.
