Brazil's oil production has started to recover following a plunge earlier this year as many offshore platforms underwent planned repairs and maintenance work. After a 25% drop in Brazilian output at the beginning of the year, platforms are returning from maintenance and producing more oil. Earlier-than-expected starts to some projects are also set to help Brazil recover its oil output later this year, and production could exceed forecasts, some analysts say.

Brazil's Oil Surge Set to Challenge OPEC's Market Strategy

U.S. oil production has been flat for the past 10 months, but is still on track to set a new annual record in 2024. Rystad Energy predicts near-zero global oil supply growth this year, marking the first time since 2020. Despite flat growth, the U.S. will set a new oil...

U.S. to Set New Oil Production Record, But 2025 Looks Bleak

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.

Fox Business

Experts talk to FOX Business about what prices will be like at the gas pump this summer as travel picks back up. The insight comes just weeks away from the Fourth of July.

Gas prices: What to expect this summer

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

UPI News

Ahead of this week's 4th of July travels, the Biden administration announced the sale of 1 million barrels of gasoline in its latest effort to push down the price of gas which largely will impact the northeast U.S.

Biden administration announces sale of 1M barrels of gasoline ahead of July 4 travel

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

Crude oil inventories in the United States fell by 9.163 million barrels for the week ending June 28, according to The American Petroleum Institute (API), after analysts had expected a 150,000 barrel draw. For the week prior, the API reported a 914,000 barrel build in crude inventories. On Tuesday, the...

Oil jumps on significant crude inventory draw

(RTTNews) - A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits fell by more than expected in the week ended June 22nd. The Labor Department said initial jobless claims dropped to 233,000, a decrease of 6,000 from the previous week's revised level of...

U.S. Jobless Claims Dip More Than Expected To 233,000

Chris Meekins, Raymond James health care policy analyst, joins 'Fast Money' to talk drug pricing and the impact it could have on the 2024 election.

Raymond James' Chris Meekins talks drug pricing and the upcoming election

Kentucky State

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Northern Kentucky Tribune

Kentucky’s medical cannabis program has taken significant steps toward ensuring those with qualifying conditions have access to medical cannabis as soon as possible, said Gov. Andy Beshear this week.

State to open licensing applications for medical cannabis businesses beginning July 1

Money

Although gas prices often peak during the warmest months of the year when driving demand is high, experts point to several positive factors shaping up for drivers this summer. The average price for a gallon of gas is now about $3.50, which is 14 cents cheaper than a month ago and the lowest national average since March, according to GasBuddy.

Why Gas Prices Will Probably Keep Falling This Summer

Newark, NJ

Morristown Minute

NEWARK, N.J. – Eight individuals associated with the "793 Bloods" street gang, a subset of the national Bloods gang, have been charged for their roles in a Newark-based drug trafficking organization, U.S. Attorney Philip R. Sellinger announced.

Eight '793 Bloods' Gang Members Charged in Newark Drug Network

For customers, fintech promised the best of both worlds: The innovation, ease of use and fun of the newest apps combined with the safety of government-backed accounts held at real banks. The collapse of middleman Synapse has revealed fintech's promise of safety as a mirage. More than 100,000 Americans with...

How thousands of Americans got caught in fintech’s false promise and lost access to bank accounts

U.S. stocks drifted on Tuesday ahead of a critical jobs report expected to reveal whether the job market is cooling to Wall Street's hopes, as crude oil prices climbed near their highest levels since April and big stocks faced losses, while Treasury yields eased slightly with hopes of controlling inflation without triggering a recession, and European indexes fell amidst persistent regional inflation concerns.

Wall Street Wobbles as Oil Prices Soar and Jobs Data Looms

New Jersey State

You'll need to earn nearly $60,000 annually to live alone in Massachusetts, the most expensive state in the U.S. when it comes to basic costs, according to a recent SmartAsset analysis. That figure includes estimates for how much a single-person household needs to cover housing, transportation, health care, taxes and...

The 15 U.S. states with the highest cost of living for single people—No. 1 isn't California, New York or Hawaii

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

CBS Sacramento

Low gas prices are something for drivers to celebrate this July 4th, with costs at the pump expected to hit their lowest levels since 2021. The average price of gasoline on Independence Day is expected to be $3.49 per gallon nationwide, the lowest price it's been on the busy travel holiday in three years, according to GasBuddy, a fuel savings platform. That could mean serious cost savings compared with a few years ago for the 60.6 million motorists who are expected to travel by car to celebrate the federal holiday, according to AAA.Last year, this national average price of gas was $3.50,...

July 4th gas prices expected to hit lowest level in 3 years

August WTI crude oil (CLQ24) on Tuesday closed down -0.57 (-0.68%), and Aug RBOB gasoline (RBQ24) closed down -0.49 (-0.19%). Crude oil and gasoline prices closed moderately lower on Tuesday. Crude prices Tuesday retreated from a 2-1/2 month high and turned lower after Russian crude exports rebounded to a 2-month high. Crude oil Tuesday initially moved higher due to heightened tensions in the Middle East, with Israel close to a full-blown war with Hezbollah in Lebanon and with Houthi rebels in Yemen stepping up their attacks on commercial shipping in the region. Also, concern that a stronger-than-expected US hurricane season could lead to reduced US crude output is supporting prices after Hurricane Beryl strengthened to a Category 5 hurricane, the strongest storm to ever form in the Atlantic this early in the year.

Crude Prices Close Lower as Russian Crude Exports Rebound

Swimply CEO Derek Callow joins 'The Exchange' to discuss how the company is expanding its recreational offerings beyond the swimming pool, how his company is handling the pushback against their business, and more.

Swimply CEO on expanding their recreational offerings

NewsBreak

U.S. crude oil pulls back from two-month high as traders assess Israel-Hezbollah, Hurricane Beryl risks

U.S. crude oil hit a high of $84.38 earlier in the session, the highest level since April 26. Gasoline prices have hit an average of $3.50...

U.S. crude oil pulls back from two-month high as traders assess Israel-Hezbollah, Hurricane Beryl risks

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