Oil prices edged up slightly during early trading, with benchmark West...
Oil prices edged up slightly during early trading, with benchmark West Texas Intermediate trading at $73.49 per barrel, up 24 cents or 0.3%, and Brent crude reaching $77.78, an increase of 26 cents or 0.3%. The modest increases come despite long-term concerns over the possibility of supply increases from OPEC+ later in the year and rising US crude and gasoline inventories.
The 30-year mortgage inched up to the highest level since May 10.
The increase in rates caused the market composite index — a measure of mortgage application volume — to decrease in the past week, according to the Mortgage Bankers Association (MBA) on Wednesday.
The market index fell 5.2% to 180.4 for the week ending May 31 from a week prior. A year ago, the index stood at 194.7.
US LNG exports rise in May with Freeport back online
Freeport LNG's return to full production helped push US liquefied natural...
Freeport LNG's return to full production helped push US liquefied natural gas exports to 8.37 million short tons in May, up from 6.82 million short tons in April, according to LSEG data. Europe and Asia accounted for nearly 42% and 41% of shipments, respectively, while Latin America and the Caribbean received 12% of the volumes.
The Energy Department has announced the purchase of another 3 million...
The Energy Department has announced the purchase of another 3 million barrels of oil for the Strategic Petroleum Reserve at an average price of $77.69 per barrel, with delivery set for November. The department has so far bought back 38.6 million barrels of the 180 million barrels of SPR oil sold last year to stabilize fuel prices.
Merrick Garland tells Congress, “I will not be intimidated.” The...
Merrick Garland tells Congress, “I will not be intimidated.” The Fourth of July is a month away, but there were fireworks in Congress yesterday as the attorney general pushed back on Republicans’ accusations that he and the DOJ went after Donald Trump while protecting Joe Biden. Testifying before the House Judiciary Committee, Garland said he would not make decisions based on Republicans’ efforts to hold him in contempt of Congress for not releasing audio from an investigation into Biden. Lawmakers also sniped at each other, with one Democrat saying the committee had become “little more than a field office for the Trump campaign.”
President Biden signed an executive order restricting asylum claims based on the number of migrants crossing the US–Mexico border illegally. The ACLU plans to sue.
Sean “Diddy” Combs sold his majority stake in Revolt, the media company he founded, as he faces lawsuits accusing him of sexual assault.
Max is the latest streaming service to get more expensive. Warner Bros. announced it’s raising prices on what used to be HBO Max about two weeks before the second season of House of the Dragon begins.
Novak Djokovic withdrew from the French Open because of an injured knee, costing him his position as No. 1 in the rankings.
Instagram is testing ads you can’t skip, in case you need a reason to stop scrolling and feeling bad you’re not on vacation.
