EIA Report: Cushing sees a drop in crude oil storage while the US recorded a gain
The U.S. saw a gain in crude oil stocks while the amount held in storage...
The U.S. saw a gain in crude oil stocks while the amount held in storage at Oklahoma’s Cushing Hub declined. Cushing’s stocks totaled 33.9 million barrels as of June 21, down 200,000 barrels from the 34.1 million barrels recorded on June 14. The regional hub has seen a decline since early May when, according to the EIA, there were 35 million barrels on hand.
The U.S. Energy Information Administration reported the U.S. saw a gain of 3.6 million barrels of crude oil, from 457.1 million barrels recorded on June 14 to 460.7 million barrels as of June 21.
The nation’s crude stocks fell by 2.6 million barrels in the previous reporting period.
An asteroid is scheduled to pass an estimated 4 million miles from Earth today, its closest encounter in over 100 years.
Roughly the size of Mount Everest at 1.4 miles wide, asteroid 2011 UL21 was once predicted to have a one in 71 million chance of hitting Earth by the end of the decade—an estimate experts now put at zero. Later this week, a much smaller asteroid, roughly the size of a stadium and discovered days ago, is scheduled to pass within roughly 75% of the distance to the moon. A planet-killing asteroid is not expected to threaten Earth for at least the next 1,000 years, though NASA recently conducted an exercise to gauge readiness (see more).
The asteroids come days before Asteroid Day on June 30, timed to commemorate the 1908 Tunguska event in Siberia. An explosion that day was believed to be the largest observed asteroid strike, roughly 1,000 times as powerful as the blast at Hiroshima.
President Joe Biden and former President Donald Trump are scheduled to debate tonight at 9 pm ET on CNN. Tune in here.
Tonight marks the first general election debate of 2024, one of two planned debates. The second (hosted by ABC) is scheduled for September. Tonight is also the first debate since the 1980s not organized by the nonpartisan Commission on Presidential Debates.
The debate—hosted by moderators Jake Tapper and Dana Bash—comes as recent polls predict a tight race. Trump is leading by 1%- 2% nationally and by 1%- 5% in seven key swing state polls.
Amazon joined the $2 trillion market cap club. The...
Amazon joined the $2 trillion market cap club. The e-commerce giant now gets to sit at the cool kids’ table with Microsoft, Apple, Nvidia, and Alphabet. Amazon shares are up about 26% so far this year, fueled by hysteria excitement around artificial intelligence. Investors have been impressed by the company’s ability to bounce back from a recent slowdown while cutting costs. Microsoft, which has also surged in market cap thanks to the AI boom, currently leads the pack with a value north of $3.3 trillion.
IATSE, the union representing Hollywood craftspeople, reached a tentative agreement with the studios, likely averting another entertainment industry strike.
The yen fell to its lowest level since 1986, raising the possibility that Japanese officials could step in to save the enervated currency.
The Biden administration issued mass pardons to US military members who were discharged and court-martialed for being gay under a Cold War-era rule.
Verizon updated its logo, which eliminates the checkmark and sure looks a lot like Netflix’s.
Ovax, a new startup, has raised $10 million to develop a fentanyl vaccine, which would prevent users from overdosing on the often deadly drug.
Guy Beahm, aka the popular video game streamer Dr Disrespect, is shedding sponsorship deals after admitting to inappropriately messaging a minor in 2017.
Benchmark U.S. crude oil for August delivery rose 7 cents to $80.90 per barrel Wednesday. Brent crude for August delivery rose 24 cents to $85.25 per barrel.
Wholesale gasoline for July delivery rose 3 cents to $2.54 a gallon. July heating oilrose 3 cents to $2.54 a gallon. July natural gas fell 13 cents to $2.63 per 1,000 cubic feet.
