CBS Pittsburgh

The world could have a glut of oil by the end of the decade because of rising production combined with declining demand as consumers and businesses switch to electric vehicles and renewable energy, according to a new report from the International Energy Agency.The International Energy Agency said Wednesday that the world's total oil supply capacity is expected to rise to about 114 million barrels a day by 2030, which the group said would amount to "staggering" 8 million barrels a day beyond projected demand. That type of spare capacity hasn't been seen outside the COVID-19 lockdowns of 2020, when economies across the...

The world could soon see a massive oil glut. Here's why.

A decision by OPEC+ to possibly boost production sooner than expected and diverging demand forecasts could hold oil prices down in the second half of the year. The U.S. Energy Information Administration recently lowered projections for Brent crude oil prices this year. The International Energy Agency also cut its demand forecast.

What To Watch in Oil Markets in the Second Half of the Year

The Guardian

Cap falls by £122 to a typical £1,568 a year – but bills are expected to rise again in October when the cap ends

Millions to pay lower summer energy bills as UK price cap drops

FXDailyReport.com

Natural gas formed lower highs and found support around $2.700, creating a descending triangle pattern on its hourly time frame. Price is testing the triangle top and might be in for a bounce or a break. If resistance holds, natural gas could fall back to the triangle bottom or even...

Natural Gas (NATGAS/USD) Price Technical Analysis for June 25, 2024

Reuters

(Reuters) -Oil prices will not change much in the second half of 2024 as concerns around demand from China and prospects of higher supply from key producers counter risks from geopolitical tensions, a Reuters poll indicated on Friday.

Oil prices to stay steady as China demand woes offset Mideast risks

(Reuters) — One of Egypt's largest petrochemicals companies plans within a consortium to import U.S. shale gas to address a shortage in natural gas supplies that forced several chemicals factories to temporarily shut down twice in June. Sidi Kerir Petrochemicals Co SAE (Sidpec) said in a bourse disclosure on...

Egyptian Consortium to Import U.S. Shale Gas Amid Shortage

Crude oil futures are set to close over 2% higher this week, primarily driven by escalating tensions between Israel and Hezbollah. The market has largely shrugged off soft U.S. gasoline demand, focusing instead on potential supply disruptions in the Middle East. This price movement underscores the oil market's sensitivity to geopolitical risks, especially in key producing regions.

The Geopolitical Risk Premium Is Back as Oil Prices Climb

[Stay on top of transportation news: Get TTNews in your inbox.]. U.S. oil production will decline if the corporate-acquisition spree sweeping the shale sector is prolonged, according to a Federal Reserve Bank of Dallas survey. More than 50% of oil executives told the Dallas Fed they foresee lower domestic crude...

Shale Executives See Takeovers Squeezing US Oil Production

Missouri State

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CJ Coombs

The first time my family walked into a Ponderosa Steakhouse was in the late 1960s. It was new and the experience was great. Like other new restaurants, if the management doesn't stay on top, the quality of service can decline. The location we went to did change through the years, but in the beginning, it was great.

The 1960s: the Ponderosa and Bonanza Steakhouses are still around in some states

You generally need to demonstrate sufficient income to buy a house, but it is possible to buy a home with no income. You’ll need to prove to a lender that you can afford the mortgage payments in other ways, such as by paying with assets, or you’ll need to buy the house with all cash. Learn more about how to buy a house with no income.

How to Buy a House With No Income

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NewSantaAna

The FBI has seen a rise in scams targeting timeshare owners. In this kind of scam, criminals con these part-time property owners into shelling out hefty sums of cash, all under false pretenses related to their timeshare properties.

FBI warns that Mexican cartels are targeting Americans with timeshare scams

For decades, the United States has been a net consumer of energy, using up more energy than it produces. However, a sharp increase in oil and gas production following the shale boom as well as the ongoing renewable energy revolution has helped change the energy trajectory over the past 15 years. And now the U.S. Energy Information Administration (EIA) has reported that U.S. energy production exceeded consumption by record amounts in 2023.

U.S. Energy Production Chalks Up Another Record

LandBridge, owner of 220,000 acres in the Delaware Basin, went public this week, raising $246.5 million from the sale of 14.5 million shares. The company, according to a Bloomberg report, priced the shares below the initial range of between $19 and $22 apiece. The final price, at which the stock was sold was $17 apiece. The company’s market value on the day of the IPO was $1.2 billion.

Permian Oil Player Goes Public at Below Target Price

Fortune

Supply will outstrip demand, and the spare capacity will be unlike ever "seen before other than at the height of the Covid-19 lockdowns in 2020,” IEA said.

We’ll soon live in a world with a ‘staggering’ excess of oil that we can’t fully use, global energy watchdog IEA warns

California State

Alameda Post

California regulators just stopped AT&T from pulling the plug. California’s Public Utilities Commission on June 20 rejected AT&T’s application to stop providing landlines and other services in areas where there is no other option.

Still Need Your Landline?

Travel group AAA says this Independence Day holiday will be the busiest ever, projecting 70.9 million people will head 50 miles or more from home over the July 4th week. That would represent a 5% year-over-year rise and an 8% increase compared with the pre-pandemic levels of 2019. AAA says...

A Record 70.9M People Are Expected To Travel July 4th Week, AAA Forecasts

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The HD Post

CALIFORNIA – Governor Gavin Newsom announced, June 28, that 1,700 first-generation homebuyers have been conditionally approved for the Dream For All (DFA) Shared Appreciation Loan program.

CalHFA issues all 1,700 vouchers for down payment assistance program

Crude oil prices ticked down today, after the U.S. Energy Information Administration reported an inventory build of 3.6 million barrels for the week to June 21. This compared with a draw of 2.5 million barrels that pushed prices higher last week, as it was accompanied by inventory declines in gasoline and middle distillates as well, suggesting strengthening demand.

Oil Moves Lower on Surprise Inventory Build

The meme stock hero known as "Roaring Kitty," whose real name is Keith Gill, has a 6.6% stake in Chewy, a pet products retailer. A regulatory filing revealed that Gill owns about 9 million shares of Chewy. Shares of Chewy jumped last Thursday after Gill posted a picture of a...

'Roaring Kitty' Has 6.6% Stake in Chewy

The average 30-year mortgage rate has moved up to 6.99%. Rates have wavered in upper-6% territory all of June, but ended the month with a one-week march upwards. Most other mortgage types also saw moderate increases across the week. National Averages of Lenders' Best Mortgage Rates. Loan Type New Purchase...

Mortgage Rates Inch Up for a Fifth Day

NewsBreak

Rising Natural Gas Prices Could Push Winter Heating Costs Higher

A mild U.S. winter pulled natural-gas prices lower earlier this year, but they have since risen. Further increases could lead to higher power generation costs for...

Rising Natural Gas Prices Could Push Winter Heating Costs Higher

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