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

Gaining a foothold in the refining industry gives traders more options when deciding where to send certain oil grades. Commodities traders flush with cash are buying oil refineries that energy majors are increasingly turning their back on. It’s one of the areas where trading houses — who have long coveted...

Energy Traders are Snapping Up Refineries Away From Big Oil

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Stock Region

U.S. Crude Oil Inventories Drop Sharply, Exceeding Expectations. Disclaimer: This article is for informational purposes only. The information presented here is based on publicly available data and is not intended as investment advice. Always consult with a professional before making any financial decisions.

U.S. Crude Oil Inventories Plummet By 12.2 Million Barrels

Sourcing Journal


				













	U.S. manufacturing saw an estimated 8,000 jobs lost last month, according to data released by the Bureau of Labor Statistics (BLS) on Friday. And U.S. textile mills are among the stateside producers that reported an economic contraction in June amid the overall compression in the manufacturing environment. Shuffle Board: Kering Names Brand Officer, Mango Bolsters Home Line




	According to the Institute for Supply Management’s latest Manufacturing ISM Report On Business—based on a June survey of purchasing and supply executives, including those working in textile mills as well as apparel, leather and allied products—new orders, production and employment are all tightening.




	“U.S. manufacturing activity continued in...

Report: US Textile Mills Faced Weaker Order Demand, Higher Material Costs in June

Gold prices extended gains on Friday to their highest level in a month following key US jobs data that showed the labor market was softening, lifting expectations around a Federal Reserve interest rate cut in September. Spot gold was up 1.1% at $2,380.91 per ounce as of 11:08 a.m. (1508...

Gold prices rise to one-month high after US jobs report

Virginia State

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Margaret Minnicks

WVTF reported that a new Virginia law will become effective on July 1, 2024. The law will prevent utility companies from disconnecting services on various occasions, which could leave someone without power for days.

A new law will keep utilities from being disconnected on weekends and holidays in Virginia

Annual jet fuel consumption in the U.S. grew in 2023 for the third year in a row but remained below the pre-pandemic peak in 2019, suggesting U.S. aviation had not fully returned to normal operations in the third year after the onset of the COVID-19 pandemic. U.S. jet fuel consumption...

EIA: U.S. jet fuel consumption in 2023 remained below the pre-pandemic high

Illinois State

Chicago, IL

Chicago Food Adventures

Every year, new laws that were passed the prior year go into effect on July 1. In 2024, a number of new laws will begin this Monday. Among them include higher wages for tipped employees, a gas tax increase, and driver's licenses for undocumented immigrants.

New Laws July 1: Driver's Licenses for Undocumented Migrants, Raises for Tipped Workers, and More

Gloucester County, NJ

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Franklinville, NJ

Morristown Minute

FRANKLINVILLE, N.J. -A Gloucester County, New Jersey, man admitted today that he defrauded the government of more than $200,000 in Social Security and Medicaid benefits, U.S. Attorney Philip R. Sellinger announced.

Man Guilty of $200K Social Security & Medicaid Fraud

The big banks start reporting next Friday, July 12th, ’24. Look for JPMorgan (NYSE:JPM), Citigroup (NYSE:C), and Wells Fargo (NYSE:WFC). The June CPI and PPI data are also due this week, with CPI Thursday, July 11th, and PPI scheduled for release Friday, July 12th, 2024. This table from Briefing.com...

Earnings Season Kicks Off This Week Amid Healthy Bump in S&P 500 Forward Estimate

Wyoming State

WyoFile

Wyoming native Leslie Hagenstein lives on the ranch where she grew up and remembers her grandmother and father delivering milk in glass bottles from the family’s Mount Airy Dairy.

Using less of the Colorado River takes a willing farmer and $45 million in federal funds

California State

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: California’s electric truck mandate could affect Mexican transporters; Mexico’s Isthmus of Tehuantepec railway delivers first load; Texas EV startup secures electric van order; and Korea International Trade Association opens office in Texas.

Borderlands Mexico: California’s electric- truck mandate could affect Mexican transporters

What is more summery than an icy, sweet frozen drink? If the heat wave is getting to you, try whipping up this simple frozen strawberry lemonade. All you need is your choice of lemonade and some frozen strawberries. You can use store-bought lemonade, make your own from scratch, or a powdered version. As for strawberries, frozen ones are the easiest choice. If you'd rather use fresh, add at least two cups of ice until you reach a nice, frozen consistency.

2-Ingredient Frozen Strawberry Lemonade: Beat the Heat!

Colorado State

The Federal Motor Carrier Safety Administration ordered a California trucking company with a history of safety violations to cease operations after a crash in Colorado killed one person and injured others. Monique Trucking, owned by Manrique Agramon, was served the order from the FMCSA last week after the agency declared...

FMCSA orders California trucking company to shut down after deadly crash

(Reuters) — ExxonMobil said on Monday lower natural gas prices and refining margins are expected to hit the oil major's second-quarter earnings. The oil major would be reporting its first earnings after closing the acquisition of Pioneer Natural Resources for $60 billion, with the combined operations making it the largest oil producer in the Permian basin.

Exxon's Q2 Outlook Affected by Pioneer Deal and Gas Price Trends

Unemployment among IT professions reached 3.7% in June, up from 2.5% in the previous month, according to a CompTIA review of U.S. Bureau of Labor Statistics data published Friday. The rate is the highest it's been since August 2020, when it reached 4.6%. Other key indicators in the tech labor...

Tech unemployment rose to nearly 4-year high in June

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?

CoinDesk

Before this morning's jobs report, market participants put nearly 70% probability of lower rates in September, according to the CME FedWatch Tool.

U.S. Added 206K Jobs in June as Unemployment Rate Rose to Highest Since November 2021

New York Post

First-time applications for unemployment benefits increased last week, while the number of people on jobless rolls rose further to a 2-1/2 year high towards the end of June, consistent with a gradual cooling in the labor market.

Ebbing labor market momentum, together with abating inflation pressures, keep the Federal Reserve on track to start cutting interest rates this year, with financial markets hopeful that the easing cycle could start in September.

Fed Chair Jerome Powell said on Tuesday that the economy was back on a “disinflationary path,” but stressed policymakers needed more data before cutting rates.



“The labor market is still historically strong, but not...

Labor market continues to cool as applications for unemployment benefits rise

Reuters

SAO PAULO (Reuters) -Brazilian state-run oil company Petrobras on Monday announced its first gasoline price hike in almost a year, and also hiked the price of gas used for cooking and heating.

Brazil's Petrobras ups gasoline prices 7%, first hike under new CEO

NewsBreak

Diesel benchmark up third straight week, but demand figures look weak

Retail diesel prices measured by the Department of Energy/Energy Information Administration average retail price now have moved higher for three consecutive weeks, but it doesn’t appear...

Diesel benchmark up third straight week, but demand figures look weak

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