According to data from the US Energy Information Administration, US crude...
According to data from the US Energy Information Administration, US crude oil inventories for the week ended July 26, excluding the Strategic Petroleum Reserve, decreased by 3.4 million bbl from the previous week.
The EIA report indicated that US crude oil inventories are about 4% below the 5-year average for this time of year at 433.0 million bbl.
Chevron's $53B Hess Deal Delayed Until At Least Summer 2025
A pivotal arbitration hearing concerning Chevron’s acquisition of Hess...
A pivotal arbitration hearing concerning Chevron’s acquisition of Hess Corp.’s position offshore Guyana is set for May 2025.
A decision regarding the arbitration is expected in the following three months after the hearing, Chevron said in a July 31 filing with the Securities and Exchange Commission.
“Chevron and Hess had expected and requested that this hearing be held earlier, but the arbitrators’ common schedules did not make this possible,” Chevron wrote in the filing.
U.S. supermajor Chevron Corp. has been working through the regulatory process to close the $53 billion Hess acquisition since the deal was announced in October 2023.
Israel Says It Killed Leader of Hamas’s Armed Wing Last Month
The Israeli military said Thursday that it had succeeded in killing Muhammad...
The Israeli military said Thursday that it had succeeded in killing Muhammad Deif, the leader of Hamas’s armed wing who is believed to have been a main planner of the Oct. 7 attacks, in Gaza in mid-July. Its announcement followed back-to-back strikes that killed two major foes of Israel in Iran and Lebanon, amplifying fears of a wider war in the Middle East and endangering negotiations for a cease-fire in Gaza.
Suspected 9/11 plotter agrees to plead guilty. Khalid...
Suspected 9/11 plotter agrees to plead guilty. Khalid Sheikh Mohammed and two others currently held in Guantanamo Bay and accused of helping him orchestrate the Sept. 11, 2001, terrorist attacks have agreed to a plea deal that would give them life sentences, according to the Department of Defense. If all goes to plan, the deal will avoid a trial during which prosecutors would have sought the death penalty, but the government would also have had to justify its torture of Guantanamo detainees and potentially faced having some confessions rejected as coerced.
Iran’s supreme leader, Ayatollah Ali Khamenei, has ordered a direct strike on Israel in retaliation for the killing of Hamas political leader Ismail Haniyeh in Iran (which Israel has not confirmed or denied), the NYT reports, as fears of Israel’s assassinations sparking a wider regional war grow.
Delta’s CEO said the CrowdStrike IT outage cost the airline $500 million. The company has reportedly lawyered up to pursue damages.
Donald Trump questioned Kamala Harris’s race while speaking at an event for Black journalists, saying, “I didn’t know she was Black until a number of years ago when she happened to turn Black and now she wants to be known as Black. So, I don’t know, is she Indian or is she Black?”
Bill Ackman’s firm withdrew its planned IPO of a US fund after investor demand fell short of expectations.
Taco Bell plans to expand AI voice technology in drive-thrus to hundreds of its locations this year.
Benchmark U.S. crude oil for September delivery ...
Benchmark U.S. crude oil for September delivery rose $3.18to $77.91 per barrel Wednesday. Brent crude for September delivery rose $2.09 to $80.72 per barrel.
Wholesale gasoline for August delivery rose 9 cents to $2.48 a gallon. August heating oilrose 8 cents to $2.42 a gallon. September natural gas fell 9 cents to $2.04 per 1,000 cubic feet.
