The U.S. Energy Information Administration (EIA) has lowered its West Texas Intermediate (WTI) oil price forecast in its latest short term energy outlook (STEO), which was released recently. In its June STEO, the EIA is forecasting that the WTI spot price will average $80.32 per barrel in the second quarter of 2024, $78.75 per barrel …
U.S. gasoline demand has been tepid in the early part of the driving season, resulting in rising stocks and lower refining margins. Strong refining utilization and increased production have added to the pressure on refining margins. The potential for a busy hurricane season in the Gulf Coast could disrupt production and affect gasoline supply later …
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The White House denied previous reports that it had suspended a high-level meeting with Israeli representatives after Israeli Prime Minister Benjamin Netanyahu accused Washington of withholding weapons for Israel, The Times of Israel reported on Wednesday, citing a US official. “Nothing has been canceled,” the source told the media outlet, adding that “meetings with Israeli officials are being …
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Israeli Prime Minister Benjamin Netanyahu on Tuesday called on the United States to stop “withholding” weapons and ammunition for Israel so that Israel can “finish the job a lot faster.” The prime minister stressed that Israel is “fighting for its life” and against Iran and other “common enemies.” In the video address, Netanyahu shared that …
TEL AVIV, Israel (AP) — Israeli Prime Minister Benjamin Netanyahu dissolved the influential War Cabinet tasked with steering the war in Gaza, Israeli officials said Monday, a move that comes days after a key member of the body bolted the government over frustrations surrounding the Israeli leader’s handling of the war. The move was widely …
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OPEC’s strategy to defend market share against US shale oil production has cost them trillions in lost revenue. OPEC’s strategy may finally be paying off as US shale oil production appears to be flattening. OPEC’s patience and persistence could result in regaining market dominance if US oil production declines. Since 2008, the shale boom has …
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Niger closed an oil pipeline used to export crude through a port in neighboring Benin, ratcheting up tensions between the two countries amid an ongoing border impasse. Landlocked Niger has turned off the valves on the 1,200-mile (1,930-kilometer) conduit from the Agadem oil field operated by China National Petroleum Corp., Oil Minister Mahaman Moustapha Barké …
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RAMALLAH, West Bank (AP) — A recent wartime opinion poll among Palestinians shows a rise in support for Hamas, which appears to have ticked up even in the devastated Gaza Strip, and an overwhelming rejection of Western-backed President Mahmoud Abbas, with nearly 90% saying he must resign. The findings by a Palestinian pollster signal more difficulties …
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ABOARD THE USS LABOON IN THE RED SEA (AP) — The U.S. Navy prepared for decades to potentially fight the Soviet Union, then later Russia and China, on the world’s waterways. But instead of a global power, the Navy finds itself locked in combat with a shadowy, Iran-backed rebel group based in Yemen. The U.S.-led …
Proposal passes with 72% of votes, just shy of 2018 percentage Shareholders also sign off on moving legal domicile to Texas Tesla Inc. investors re-approved Elon Musk’s compensation and cleared the company moving its legal home to Texas, offering votes of confidence in the chief executive despite a sales slump and falling stock price.The proposal to ratify …