At least five people are dead, and more than 1,000 buildings were destroyed as several wildfires burned in Los Angeles County yesterday amid record-strong winds. The coastal Pacific Palisades saw restaurants, a library, schools, and more go up in flames as tens of thousands evacuated, many of whom were forced to leave their cars on the highway. Over 300,000 customers were without power.
The largest of the blazes, the Palisades Fire, has burned over 15,000 acres with zero containment as of this writing (see map). Inland northerly breezes, known as Santa Ana winds, blew over the mountains to the coast at speeds as high as 100 mph, accelerating the flames through dry brush and forest. Farther north and east, the Hurst and Eaton Fires grew to over 2,500 and 500 acres, respectively, while two more blazes were sparked late Wednesday.
LA officials sought help from nearby counties and states amid the fires' rapid pace and intensity, with reports of million-gallon fire hydrant wells running dry repeatedly. See photos of the fires here.
Insiders told multiple news outlets yesterday that Constellation Energy...
Insiders told multiple news outlets yesterday that Constellation Energy is close to clinching a deal to buy energy plant operator Calpine from its private equity owners for $30 billion, including debt. If the deal goes through, it’ll be one of the biggest ever in the power generation industry, coming as AI data centers are driving a massive demand for electricity.
Good morning. Here in the US, it’s a National Day of Mourning for Jimmy Carter, the first former president to live to 100. That means things won’t fully operate as normal:
•Starting today, US flags will be flown at half-staff for the next 30 days (including Inauguration Day).
•Post offices will be closed and most mail won’t be delivered.
•No need to check your brokerage account: The New York Stock Exchange and the Nasdaq are shutting down to honor the former president, a tradition that reportedly dates back to 1865, when the NYSE closed following Abraham Lincoln’s assassination.
OpenAI CEO Sam Altman denied the claims his sister Ann Altman made in a recent lawsuit accusing him of sexually abusing her for years when they were children.
Italian journalist Cecilia Sala, who was detained in Iran last month while on a reporting trip, has been released, the Italian government said.
Theodore Farnsworth, the former CEO of MoviePass’s parent company, pleaded guilty to securities fraud for failing to tell investors that a $9.95 subscription for unlimited movies in the theater was a money-losing idea.
Wicked racked up the most Screen Actors Guild Awards nods, with five nominations. Plans to announce the nominees live were scrapped due to the fires in California.
Mexico’s president responded to Donald Trump’s suggestion that the Gulf of Mexico be renamed the “Gulf of America” by joking that the US should be called “Mexican America.”
Growth in US fuel supplies sent crude oil prices down
A stronger dollar combined with large increases in U.S. fuel inventories...
A stronger dollar combined with large increases in U.S. fuel inventories led to a more than 1% drop in crude oil prices on Wednesday. The fall came after prices rose more than 1% earlier in the trading session.
While crude oil stocks fell again across the U.S., gasoline stocks increased by 6.3 million barrels in the past week to 237.7 million barrels, reported the U.S. Energy Information Administration. The latest fuel report reversed gains prompted by tightening supplies from Russia and other OPEC members, according to Reuters.
West Texas Intermediate crude dropped 93 cents or 1.25% to $73.32 a barrel on the New York Mercantile Exchange.
Brent crude, considered the global benchmark followed by industry, finished down 89 cents or 1.16% to $76.23 a barrel.
Crude oil stocks took another fall over the past week, both across the...
Crude oil stocks took another fall over the past week, both across the U.S. and at Oklahoma’s Cushing Hub.
The Cushing Hub, according to the U.S. Energy Information Administration, as of the week of Jan. 3, 2025 held 20 million barrels of crude oil, a drop of 2.5 million from the week of Dec. 27, 2024. Cushing’s total crude oil storage was also down 2.9 million compared to Jan. 5, 2024.
The nationwide crude stocks totaled 414.6 million during the week of Jan. 3, 2025, down one million barrels from the 415.6 million barrels during the week of Dec. 27, 2024. A year earlier, the U.S. crude oil supply totaled 432.4 million.
