US stocks rally late to finish July with robust month of gains
Updated: 2023-07-31 20:11:04
All three major indices ended July with strong performance, thanks to better-than-expected inflation and promising earnings reports.
Exxon looks to EV boom as oil giant is in talks to supply lithium to Tesla and other automakers, report says
Updated: 2023-07-31 19:46:27Sources told Bloomberg that Exxon Mobil is in talks with car manufacturers such as Tesla, Ford, and Volkswagen to become a lithium supplier.China's yuan expands its growing foothold in South America as Bolivia reduces reliance on US dollar
Updated: 2023-07-31 18:09:26Bolivia made financial transactions totaling 278 million Chinese yuan from May through July, or about 10% of its foreign trade in that span.Oil is on course for its best month since Russia invaded Ukraine as recession fears die down and Saudi Arabia cuts supply
Updated: 2023-07-31 14:21:38Optimism around global growth has helped fuel the rally and supply cuts by the OPEC+ leader have squeezed crude prices 16% higher in July.US stocks rise as investors look to close out strong month of gains
Updated: 2023-07-31 13:36:12All three of the major US indices rose at least 3% in July, amid cooling inflation and a strong earnings season.Eurozone returns to economic growth as inflation falls
Updated: 2023-07-31 13:02:25
GDP also rises in 20-member bloc but German growth remains flat and Italy shrinks</pBusiness live – latest updatesThe eurozone’s economy has returned to growth after a long period of stagnation as inflation in the 20-member currency area continues to fall from last year’s peak.Activity expanded by 0.3% in the second quarter, while the inflation rate declined from 5.5% to 5.3% in July, said the EU statistics agency Eurostat. Continue reading...US economic growth speeds up in second quarter and weekly jobless claims fall
Updated: 2023-07-27 13:11:50Skip to main content Skip to navigation Skip to navigation Print subscriptions Sign in Search jobs Search UK edition UK edition US edition Australia edition International edition The Guardian Back to home News Opinion Sport Culture Lifestyle Show More Show More News View all News UK news World news Climate crisis Newsletters Football Business Environment UK politics Education Society Science Tech Global development Obituaries Opinion View all Opinion The Guardian view Columnists Cartoons Opinion videos Letters Sport View all Sport Football Cricket Rugby union Tennis Cycling F1 Golf Boxing Rugby league Racing US sports Culture View all Culture Film Music TV radio Books Art design Stage Games Classical Lifestyle View all Lifestyle Fashion Food Recipes Travel Health fitness Women Men Love sexCapital expenditures by publicly traded U.S. oil companies approached 2019 levels earlier this year, but falling rig counts suggest activity could decline (7/26/2023)
Updated: 2023-07-27 00:52:36Financial results for 40 publicly traded exploration and production (E and P) companies show capital expenditures in the first quarter of 2023 (1Q23) were within 10% of the 2019 average as increasing crude oil prices in the first half of 2022 spurred increased production. However, generally declining rig counts since the start of 2023 suggest development activity could decline over the next two quarters. With cash from operations declining by one-third in 1Q23 from last years high in 3Q22, the companies chose to direct revenues toward shareholder returns while forgoing debt reduction and asset purchases. Other trends from the 1Q23 financial results point to production costs continuing to decline but remaining high compared with pre-pandemic levels. ...High agricultural feedstock costs offset declines in RIN prices (7/19/2023)
Updated: 2023-07-20 00:35:26. Skip to sub-navigation U.S . Energy Information Administration EIA Independent Statistics and Analysis Search Menu Sources Uses Topics Geography Tools Learn About Energy News Sources Uses Topics Geography Tools Learn About Energy News Petroleum Other Liquids Crude oil , gasoline , heating oil , diesel , propane , and other liquids including biofuels and natural gas . liquids This Week in Petroleum Weekly Petroleum Status Report Natural Gas Exploration and reserves , storage , imports and exports , production , prices , . sales Weekly Natural Gas Storage Report Natural Gas Weekly Update Electricity Sales , revenue and prices , power plants , fuel use , stocks , generation , trade , demand emissions . Electric Power Monthly Electricity Data Browser Consumption Efficiency Energy use inEIA forecasts crude oil price increase in 2024 (7/12/2023)
Updated: 2023-07-12 20:55:00We forecast higher oil prices in the second half of 2023 and into 2024 on the back of moderate but persistent inventory drawdowns in our most recent Short-Term Energy Outlook (STEO). We expect production cuts from OPEC members and forecast higher petroleum consumption to lead to an average inventory drawdown of 0.4 million barrels per day (b/d) from July 2023 through the end of 2024. Our forecast supports the Brent crude oil price rising to the mid-$80 per barrel (b) range by the end of 2024, up from the June 2023 average of $75/b (Figure 1). We forecast the West Texas Intermediate crude oil price will follow a similar path and maintain a $5/b discount to Brent. ...Refinery capacity increased for the first time since the COVID-19 pandemic (7/6/2023)
Updated: 2023-07-06 22:19:09U.S. refining capacity (excluding U.S. territories) increased this year for the first time since the COVID-19 pandemic, according to our annual Refinery Capacity Report (Figure 1). U.S. operable atmospheric crude oil distillation capacity, the primary measure of refinery capacity, totaled 18.1 million barrels per calendar day (b/cd) at the start of 2023, up slightly, by 117,000 b/cd (0.6%) from 17.9 million b/cd at the start of 2022. ...