11 hours ago
The world's shrinking spare capacity to produce gasoline and diesel is running up against the White House's desire to temper the rise in pump prices ahead of the midterms.
The chief executives of Exxon Mobil and Chevron warned Friday that refineries that produce gasoline and diesel are already running at full tilt and can't be turned up much more to make up for global shortages due to the war in Iran and other geopolitical hotspots. That could mean higher prices for consumers at the pump in the coming months, they said.
Exxon Mobil CEO Darren Woods said the company would "push as hard as we can" to increase fuel production given that higher energy prices have a "significant impact on consumers and people's pocketbooks."
"With all that supply out, we're well below available capacity, frankly, that I've ever seen," he said on the company's earnings call. "It's going to take a while for the industry to kind of climb its way out of that hole."
Their remarks come as the Trump administration is racing to blunt the impact of elevated gasoline prices with three months until Americans go to the polls. The American Automobile ***** ociation reported nationwide pump prices were averaging $4.10 per gallon — nearly a dollar more than the same period last year. Refineries in the United States, meanwhile, operated at roughly 97 percent of their operable capacity this month, the U.S. Energy Information Administration said this week, while Shell reported Friday that it was running its refineries at record rates actually above their official capacities during the second quarter.
#pump
The chief executives of Exxon Mobil and Chevron warned Friday that refineries that produce gasoline and diesel are already running at full tilt and can't be turned up much more to make up for global shortages due to the war in Iran and other geopolitical hotspots. That could mean higher prices for consumers at the pump in the coming months, they said.
Exxon Mobil CEO Darren Woods said the company would "push as hard as we can" to increase fuel production given that higher energy prices have a "significant impact on consumers and people's pocketbooks."
"With all that supply out, we're well below available capacity, frankly, that I've ever seen," he said on the company's earnings call. "It's going to take a while for the industry to kind of climb its way out of that hole."
Their remarks come as the Trump administration is racing to blunt the impact of elevated gasoline prices with three months until Americans go to the polls. The American Automobile ***** ociation reported nationwide pump prices were averaging $4.10 per gallon — nearly a dollar more than the same period last year. Refineries in the United States, meanwhile, operated at roughly 97 percent of their operable capacity this month, the U.S. Energy Information Administration said this week, while Shell reported Friday that it was running its refineries at record rates actually above their official capacities during the second quarter.
#pump
13 hours ago
In their latest quarterly earnings reports, oil majors ExxonMobil (XOM) and Chevron (CVX) both reported staggering profit growth.
During Q2 of 2026, profits at Exxon more than doubled, while Chevron's profits more than quadrupled.
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But while oil companies are raking in profits, ExxonMobil CEO Darren Woods warns that US consumers – who have been feeling the pinch of gas prices hovering around $4 per gallon – shouldn't anticipate relief at the pump anytime soon.
"I wouldn't hold my breath here in the short term for that," said Woods in a post-earnings conversation with CNBC.
#moves
During Q2 of 2026, profits at Exxon more than doubled, while Chevron's profits more than quadrupled.
Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now!
But while oil companies are raking in profits, ExxonMobil CEO Darren Woods warns that US consumers – who have been feeling the pinch of gas prices hovering around $4 per gallon – shouldn't anticipate relief at the pump anytime soon.
"I wouldn't hold my breath here in the short term for that," said Woods in a post-earnings conversation with CNBC.
#moves
1 day ago
Saturday's action got underway with a match full of goals.
Querétaro took the lead early and in less than twenty minutes were already up by two goals.
Tigres kept fighting and before the end of the first half had already pulled one back. Fifteen minutes into the second half, they equalized, and everything pointed to the teams sharing the points.
But in the 102nd minute, Gallos ended up winning it with a penalty kick.
#minutes #tigres #action
Querétaro took the lead early and in less than twenty minutes were already up by two goals.
Tigres kept fighting and before the end of the first half had already pulled one back. Fifteen minutes into the second half, they equalized, and everything pointed to the teams sharing the points.
But in the 102nd minute, Gallos ended up winning it with a penalty kick.
#minutes #tigres #action
2 days ago
The San Francisco 49ers' reunion with Deebo Samuel pushed the team into historically unusual territory when it comes to roster age at the skill positions.
According to the ******* ociated Press' Josh Dubow, the 49ers could now start five non-quarterback skill position players age 30 or older in the same game: Mike Evans, Samuel, Christian McCaffrey, George Kittle and Kyle Juszczyk.
That would put San Francisco in exceedingly rare company. Per Dubow, only three teams in the Super Bowl era have started five skill position players 30 or older in a single game: the Buccaneers did it once in 2004 with Tim Brown, Charlie Garner, Mike Alstott, Joey Galloway and Ken Dilger, the Broncos did it once in 20023 with Mike Anderson, Ed McCaffrey, Rod Smith, Shannon Sharpe, Dwayne Carswell and Washington did it twice in 1992 with Gary Clark, Art Monk, Earnest Byner, Don Warren and Terry Orr.
The track record for those teams was mixed. The 2004 Buccaneers finished 5-11 and missed the playoffs, a steep decline from their Super Bowl ******* VII run two years earlier. The 2003 Broncos went 10-6 and made the playoffs for the first time since 2000, but were routed 41-10 by the Colts in the Wild Card round. Washington's 1992 club was the most successful of the three, going 9-7 and beating Minnesota in the Wild Card round before falling to the 49ers in the Divisional round.
San Francisco was already trending toward one of the NFL's oldest rosters heading into 2026 before the Samuel move, and adding a 30-year-old wideout to a group that includes 32-year-old Evans only reinforces that profile.
#mccaffrey
According to the ******* ociated Press' Josh Dubow, the 49ers could now start five non-quarterback skill position players age 30 or older in the same game: Mike Evans, Samuel, Christian McCaffrey, George Kittle and Kyle Juszczyk.
That would put San Francisco in exceedingly rare company. Per Dubow, only three teams in the Super Bowl era have started five skill position players 30 or older in a single game: the Buccaneers did it once in 2004 with Tim Brown, Charlie Garner, Mike Alstott, Joey Galloway and Ken Dilger, the Broncos did it once in 20023 with Mike Anderson, Ed McCaffrey, Rod Smith, Shannon Sharpe, Dwayne Carswell and Washington did it twice in 1992 with Gary Clark, Art Monk, Earnest Byner, Don Warren and Terry Orr.
The track record for those teams was mixed. The 2004 Buccaneers finished 5-11 and missed the playoffs, a steep decline from their Super Bowl ******* VII run two years earlier. The 2003 Broncos went 10-6 and made the playoffs for the first time since 2000, but were routed 41-10 by the Colts in the Wild Card round. Washington's 1992 club was the most successful of the three, going 9-7 and beating Minnesota in the Wild Card round before falling to the 49ers in the Divisional round.
San Francisco was already trending toward one of the NFL's oldest rosters heading into 2026 before the Samuel move, and adding a 30-year-old wideout to a group that includes 32-year-old Evans only reinforces that profile.
#mccaffrey
3 days ago
Jake Paul wants Nate Diaz to be his opponent when "El Gallo" makes his cagefighting debut under the new MVP-PFL banner in early 2027. Probably because Diaz is 41 and held together by duct tape and Popsicle sticks. In addition, Paul already whooped Diaz in their DAZN boxing match in Dallas.
Paul's MMA debut was also "official" back in 2023 and never came to fruition.
"I've been talking about MMA and doing it for a long time, but it's official," Paul said in a social media video. "Now with this new partnership, I'm going to get into the cage. Nate Diaz, stop ducking. We need to make this happen for sports, to change the world, to change the history, and the landscape of combat sports forever. But don't worry, I am still boxing. Everyone's asking me, 'Jake, when are you coming back?' And it is as soon as possible. We are in contract talks and negotiations with multiple opponents, so it's time to box, and then kick Nate Diaz's ******* in MMA."
Diaz already turned down a $15 million offer to fight Paul in summer 2024.
Paul, 29, helped MVP merge with PFL for a combat sports entity that will allow fighters to box and fight MMA under the same banner. The new-look promotion does not yet have a TV or streaming deal in place but is expected to make an announcement on that front in the coming weeks, if not sooner.
#banner #already #official
Paul's MMA debut was also "official" back in 2023 and never came to fruition.
"I've been talking about MMA and doing it for a long time, but it's official," Paul said in a social media video. "Now with this new partnership, I'm going to get into the cage. Nate Diaz, stop ducking. We need to make this happen for sports, to change the world, to change the history, and the landscape of combat sports forever. But don't worry, I am still boxing. Everyone's asking me, 'Jake, when are you coming back?' And it is as soon as possible. We are in contract talks and negotiations with multiple opponents, so it's time to box, and then kick Nate Diaz's ******* in MMA."
Diaz already turned down a $15 million offer to fight Paul in summer 2024.
Paul, 29, helped MVP merge with PFL for a combat sports entity that will allow fighters to box and fight MMA under the same banner. The new-look promotion does not yet have a TV or streaming deal in place but is expected to make an announcement on that front in the coming weeks, if not sooner.
#banner #already #official
3 days ago
SummaryView Transcript
The freight market is seeing a major shift: capacity is tightening due to regulatory pressures and driver challenges, not just demand. Discover how these factors, alongside diverging spot rates and diesel prices, are impacting carriers and the overall supply chain. This deep dive into Q2 earnings from major players like Knight-Swift, Werner, and J.B. Hunt reveals a long-term trend.Learn more about the evolving dynamics of the trucking industry and what it means for the future of freight.
Truckload spot rates and diesel prices are moving in opposite directions, a divergence that supports the thesis that tight capacity — not fuel costs — is sustaining elevated freight rates. The Sonar NTI sat at $3.51 per mile as of the latest reading, climbing back from a mid-to-late June low near $4.90, while the diesel price at truck stops registered $3.48 per gallon, down from a July high near $3.80. The spread signals that carriers are holding rates even as fuel costs ease.
Tender rejections remain well above historical norms across all modes, according to Sonar data. The Sonar Truckload Rejection Index, or STRI, stands at 14.36%, above the six-month average of roughly 10.9%. Flatbed is the tightest mode at 23% rejections — down sharply from the 40% range seen in June and early July but still historically elevated. Reefer rejections sit at 19.46%, or nearly one in five loads, while van rejections are running nearly 50% above year-ago levels.
Recent carrier earnings are reinforcing the capacity-constraint narrative. Knight-Swift reported that its truckload segment operating income rose 69% year over year, with the carrier noting that strategic pricing recovery accelerated in June as recent bids took effect. The company described rapid tightening in supply-driven dynamics and tender rejections reaching levels not seen since 2021.
#capacity
The freight market is seeing a major shift: capacity is tightening due to regulatory pressures and driver challenges, not just demand. Discover how these factors, alongside diverging spot rates and diesel prices, are impacting carriers and the overall supply chain. This deep dive into Q2 earnings from major players like Knight-Swift, Werner, and J.B. Hunt reveals a long-term trend.Learn more about the evolving dynamics of the trucking industry and what it means for the future of freight.
Truckload spot rates and diesel prices are moving in opposite directions, a divergence that supports the thesis that tight capacity — not fuel costs — is sustaining elevated freight rates. The Sonar NTI sat at $3.51 per mile as of the latest reading, climbing back from a mid-to-late June low near $4.90, while the diesel price at truck stops registered $3.48 per gallon, down from a July high near $3.80. The spread signals that carriers are holding rates even as fuel costs ease.
Tender rejections remain well above historical norms across all modes, according to Sonar data. The Sonar Truckload Rejection Index, or STRI, stands at 14.36%, above the six-month average of roughly 10.9%. Flatbed is the tightest mode at 23% rejections — down sharply from the 40% range seen in June and early July but still historically elevated. Reefer rejections sit at 19.46%, or nearly one in five loads, while van rejections are running nearly 50% above year-ago levels.
Recent carrier earnings are reinforcing the capacity-constraint narrative. Knight-Swift reported that its truckload segment operating income rose 69% year over year, with the carrier noting that strategic pricing recovery accelerated in June as recent bids took effect. The company described rapid tightening in supply-driven dynamics and tender rejections reaching levels not seen since 2021.
#capacity
3 days ago
WEST LONG BRANCH -- Monmouth football had a new coach and almost an entirely new starting offense when they hit the practice field to embark on the 2026 season on Thursday, but the expectations haven't changed for the Hawks.
Despite losing the weapons that accounted for 73% of the production for the top offense in the country at the FCS level, Monmouth was chosen as the second team in the Coastal Athletic ****** ociation preseason rankings behind only the defending conference champion Rhode Island.
Most teams undergoing this level of change are not burdened with expectations, but it's a testament to the growth of the Monmouth program and the respect for the transition from formerly the longest-tenured coach in Division I to a longtime ****** istant that was a mastermind behind the Hawks' gaudy offensive production. Good or bad, the Hawks remain indifferent to outside ****** sments.
"You always want to focus on execution over expectations," first-year head coach Jeff Gallo said. "It'll come down to how well we execute what we do. That is what's important. Expectations are—it's all about how you execute. And we always say, we're performance over perception."
3 big takeaways from Monmouth football coaching change to Jeff Gallo
#hawks #coach #gallo #Football
Despite losing the weapons that accounted for 73% of the production for the top offense in the country at the FCS level, Monmouth was chosen as the second team in the Coastal Athletic ****** ociation preseason rankings behind only the defending conference champion Rhode Island.
Most teams undergoing this level of change are not burdened with expectations, but it's a testament to the growth of the Monmouth program and the respect for the transition from formerly the longest-tenured coach in Division I to a longtime ****** istant that was a mastermind behind the Hawks' gaudy offensive production. Good or bad, the Hawks remain indifferent to outside ****** sments.
"You always want to focus on execution over expectations," first-year head coach Jeff Gallo said. "It'll come down to how well we execute what we do. That is what's important. Expectations are—it's all about how you execute. And we always say, we're performance over perception."
3 big takeaways from Monmouth football coaching change to Jeff Gallo
#hawks #coach #gallo #Football
3 days ago
The energy sector in 2026 is experiencing a split-margin scenario that few investors are pricing cleanly. Even though the broader market views the sector as mature and low-growth, refining margins remain significantly higher than their typical mid-cycle range.
Chemicals, on the other hand, are only now recovering from some of their lowest margins in years, with the Chemical Manufacturing Industry posting an EBITDA margin of 16.86% in the year leading up to Q2 2026.
Meanwhile, renewable diesel, which has long been a burden on integrated energy earnings, is moving from below break-even to mid-cycle profitability, thanks to a regulatory reset rather than increased demand. This comes as S&P Global reported that the applicable biomass-based diesel volume requirement has been substantially raised from 5.42 billion gallons in 2025 to 9.07 billion gallons in 2026.
Only a handful of companies sit at the center of all three cycles simultaneously. That's why Phillips 66 (NYSE:PSX) is worth a deeper study. It isn't a pure refiner, a pure chemicals operation, or a pure renewables gamble, but rather a company whose near-term earnings potential depends on three distinct margin recoveries occurring nearly in sync.
The refining rebound is already quantifiable as PSX's realized refining margin increased by 48% to $10.11 per barrel in Q1 2026, from $6.81 the previous year, while crude capacity utilization increased to 95% from 80%. This lifted the refining business from a $937 million adjusted loss in Q1 2025 to a $208 million adjusted profit, bringing overall adjusted EPS to $0.49, above the Wall Street forecast of a $0.40 per share loss.
#refining #chemicals #only #energy
Chemicals, on the other hand, are only now recovering from some of their lowest margins in years, with the Chemical Manufacturing Industry posting an EBITDA margin of 16.86% in the year leading up to Q2 2026.
Meanwhile, renewable diesel, which has long been a burden on integrated energy earnings, is moving from below break-even to mid-cycle profitability, thanks to a regulatory reset rather than increased demand. This comes as S&P Global reported that the applicable biomass-based diesel volume requirement has been substantially raised from 5.42 billion gallons in 2025 to 9.07 billion gallons in 2026.
Only a handful of companies sit at the center of all three cycles simultaneously. That's why Phillips 66 (NYSE:PSX) is worth a deeper study. It isn't a pure refiner, a pure chemicals operation, or a pure renewables gamble, but rather a company whose near-term earnings potential depends on three distinct margin recoveries occurring nearly in sync.
The refining rebound is already quantifiable as PSX's realized refining margin increased by 48% to $10.11 per barrel in Q1 2026, from $6.81 the previous year, while crude capacity utilization increased to 95% from 80%. This lifted the refining business from a $937 million adjusted loss in Q1 2025 to a $208 million adjusted profit, bringing overall adjusted EPS to $0.49, above the Wall Street forecast of a $0.40 per share loss.
#refining #chemicals #only #energy
4 days ago
Oil prices are plummeting again, but the benchmark used for most fuel surcharges has risen for a third consecutive week.
The Department of Energy/Energy Information Administration average weekly retail diesel price climbed 17.9 cents/gallon to $5.313/g, effective Monday but published Tuesday. It's the third consecutive week of an increase, tacking on 73.5 cts/g during that time.
But as a reflection of how volatile markets have been, the latest DOE/EIA price, even after such a steep slide, has risen to a level that is the highest since just June 8, when it was $5.21/g. It is just under where it was on April 27–$5.351/g–but since that day has experienced double digit increases or decreases eight out of the last 13 weeks.
Given the lag in retail changes, the price would not have been expected this week to reflect the sharp fall in futures prices that began when trading opened for the week Sunday evening U.S. time. That decline followed lower prices Friday that were seen not as a reversal of the market but more of a "breather" after several days of sharp increases.
Possible peace?
#week #energy #consecutive
The Department of Energy/Energy Information Administration average weekly retail diesel price climbed 17.9 cents/gallon to $5.313/g, effective Monday but published Tuesday. It's the third consecutive week of an increase, tacking on 73.5 cts/g during that time.
But as a reflection of how volatile markets have been, the latest DOE/EIA price, even after such a steep slide, has risen to a level that is the highest since just June 8, when it was $5.21/g. It is just under where it was on April 27–$5.351/g–but since that day has experienced double digit increases or decreases eight out of the last 13 weeks.
Given the lag in retail changes, the price would not have been expected this week to reflect the sharp fall in futures prices that began when trading opened for the week Sunday evening U.S. time. That decline followed lower prices Friday that were seen not as a reversal of the market but more of a "breather" after several days of sharp increases.
Possible peace?
#week #energy #consecutive
5 days ago
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Credit: Leah Gallo/Disney
This week marked the release of Jared Leto: Hollywood's Darkest Secret, a documentary produced by the BBC that focuses on the ******* ular actor and musician. As part of that doc, 10 women apparently come forward and level claims against Leto (56). The Oscar winner has specifically been accused of ******* ual ******* ault with some of the women also alleging that Leto had ******* with them when they were underage. Now, Leto himself is speaking out in the aftermath of the allegations.
With the release of the doc, the BBC released a statement, saying that it corroborated "a number of the women's accounts with friends and family who were told about the encounters with Leto at the time." The media organization also said it had obtained items such as photos and messages that "support the women's accounts." Leto's representatives shared a statement with Variety, with which the actor denied the claims against him:
I have never ******* ually ******* aulted anyone in my entire life. These claims are absolutely and categorically false.
#claims #credit
Credit: Leah Gallo/Disney
This week marked the release of Jared Leto: Hollywood's Darkest Secret, a documentary produced by the BBC that focuses on the ******* ular actor and musician. As part of that doc, 10 women apparently come forward and level claims against Leto (56). The Oscar winner has specifically been accused of ******* ual ******* ault with some of the women also alleging that Leto had ******* with them when they were underage. Now, Leto himself is speaking out in the aftermath of the allegations.
With the release of the doc, the BBC released a statement, saying that it corroborated "a number of the women's accounts with friends and family who were told about the encounters with Leto at the time." The media organization also said it had obtained items such as photos and messages that "support the women's accounts." Leto's representatives shared a statement with Variety, with which the actor denied the claims against him:
I have never ******* ually ******* aulted anyone in my entire life. These claims are absolutely and categorically false.
#claims #credit
5 days ago
The energy sector in 2026 is experiencing a split-margin scenario that few investors are pricing cleanly. Even though the broader market views the sector as mature and low-growth, refining margins remain significantly higher than their typical mid-cycle range.
Chemicals, on the other hand, are only now recovering from some of their lowest margins in years, with the Chemical Manufacturing Industry posting an EBITDA margin of 16.86% in the year leading up to Q2 2026.
Meanwhile, renewable diesel, which has long been a burden on integrated energy earnings, is moving from below break-even to mid-cycle profitability, thanks to a regulatory reset rather than increased demand. This comes as S&P Global reported that the applicable biomass-based diesel volume requirement has been substantially raised from 5.42 billion gallons in 2025 to 9.07 billion gallons in 2026.
Only a handful of companies sit at the center of all three cycles simultaneously. That's why Phillips 66 (NYSE:PSX) is worth a deeper study. It isn't a pure refiner, a pure chemicals operation, or a pure renewables gamble, but rather a company whose near-term earnings potential depends on three distinct margin recoveries occurring nearly in sync.
The refining rebound is already quantifiable as PSX's realized refining margin increased by 48% to $10.11 per barrel in Q1 2026, from $6.81 the previous year, while crude capacity utilization increased to 95% from 80%. This lifted the refining business from a $937 million adjusted loss in Q1 2025 to a $208 million adjusted profit, bringing overall adjusted EPS to $0.49, above the Wall Street forecast of a $0.40 per share loss.
#sector
Chemicals, on the other hand, are only now recovering from some of their lowest margins in years, with the Chemical Manufacturing Industry posting an EBITDA margin of 16.86% in the year leading up to Q2 2026.
Meanwhile, renewable diesel, which has long been a burden on integrated energy earnings, is moving from below break-even to mid-cycle profitability, thanks to a regulatory reset rather than increased demand. This comes as S&P Global reported that the applicable biomass-based diesel volume requirement has been substantially raised from 5.42 billion gallons in 2025 to 9.07 billion gallons in 2026.
Only a handful of companies sit at the center of all three cycles simultaneously. That's why Phillips 66 (NYSE:PSX) is worth a deeper study. It isn't a pure refiner, a pure chemicals operation, or a pure renewables gamble, but rather a company whose near-term earnings potential depends on three distinct margin recoveries occurring nearly in sync.
The refining rebound is already quantifiable as PSX's realized refining margin increased by 48% to $10.11 per barrel in Q1 2026, from $6.81 the previous year, while crude capacity utilization increased to 95% from 80%. This lifted the refining business from a $937 million adjusted loss in Q1 2025 to a $208 million adjusted profit, bringing overall adjusted EPS to $0.49, above the Wall Street forecast of a $0.40 per share loss.
#sector
5 days ago
Our ***** ysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.
Boring wins again. Italgas, the pipe company ***** ody talks about at parties, just posted a record 81% margin and 25% EBITDA growth by doing something shockingly simple: buying a rival and actually integrating it well.
Italgas, Europe's largest gas distributor, posted first-half adjusted EBITDA of €1.07 billion, up 25% year over year. Total adjusted revenue climbed to €1.32 billion, up 17.5%, and adjusted net profit rose 27.3% to €398.6 million. CEO Paolo Gallo called the margin the highest in company history.
The engine behind all of it is last year's acquisition of 2i Rete Gas. Italgas has already banked roughly 42% of its 2032 synergy target, capturing about €130 million in savings in just six months, against €35 million for all of 2025 combined. Total operating costs fell 6.4% even after absorbing the new company's cost base, and dropped more than 20% on a like-for-like basis. Full-year guidance and the long-range strategic plan both stayed intact.
There's no oil-price guessing game here, no battery race, no app anyone needs to fall in love with. Italgas owns pipes under regulated contracts and gets paid to keep them running. The 2i Rete Gas numbers prove something specific: this deal wasn't just about scale, it was about actually finding the overlap in networks, contracts, IT systems, and procurement, and squeezing real money out of it, faster than the integration playbook usually allows.
#italgas #total #company #posted
Boring wins again. Italgas, the pipe company ***** ody talks about at parties, just posted a record 81% margin and 25% EBITDA growth by doing something shockingly simple: buying a rival and actually integrating it well.
Italgas, Europe's largest gas distributor, posted first-half adjusted EBITDA of €1.07 billion, up 25% year over year. Total adjusted revenue climbed to €1.32 billion, up 17.5%, and adjusted net profit rose 27.3% to €398.6 million. CEO Paolo Gallo called the margin the highest in company history.
The engine behind all of it is last year's acquisition of 2i Rete Gas. Italgas has already banked roughly 42% of its 2032 synergy target, capturing about €130 million in savings in just six months, against €35 million for all of 2025 combined. Total operating costs fell 6.4% even after absorbing the new company's cost base, and dropped more than 20% on a like-for-like basis. Full-year guidance and the long-range strategic plan both stayed intact.
There's no oil-price guessing game here, no battery race, no app anyone needs to fall in love with. Italgas owns pipes under regulated contracts and gets paid to keep them running. The 2i Rete Gas numbers prove something specific: this deal wasn't just about scale, it was about actually finding the overlap in networks, contracts, IT systems, and procurement, and squeezing real money out of it, faster than the integration playbook usually allows.
#italgas #total #company #posted
5 days ago
Fabio Paratici has wasted no time stamping his mark on this Fiorentina squad. He's brought in 5 new players already and more are coming. That's good news: the Viola needed to refresh a stale, ailing group. What I'm interested in, though, is the senior players the new sporting director has sold. No, I don't mean outcasts like Lucas Beltrán and Amir Richardson and Alessandro Bianco. I don't mean unfortunate salary casualty Robin Gosens. No, I mean all the academy-trained talent in the system.
Until the Viola create a B-team, it will lose a crop of academy kids every summer. Most of them never had a chance of breaking through to the first team. For the handful who might have the quality, finding an acceptable path within the club is difficult. The most common outcome is what happened to, say, Eduard Duțu last year: a promising young defender, he ended up on 7 loan deals before leaving Florence for good last year without ever making a senior appearance. Guys like Luca Ranieri—loans to Foggia, Ascoli, SPAL, and Salernitana before breaking through—are the exception. It's rare for to see one of these youngsters take that final step.
Young players matter to fans in a way they don't to the club itself. For fans, every 17-year-old who dribbles a 3rd-tier defender in preseason becomes a future star. That's not just luxurious thinking. We need that fantasy—the academy contains untold riches—because it reinforces two narratives that sustain us, especially through the lean years. First, we get to believe that we know ball and can identify buried talent because that allows us to think of ourselves as knowledgeable, superior, and in control of something over which we actually exert no control. Second, we get to think that Fiorentina is doing something better than other clubs, allowing us to enjoy vicarious success and prove to ourselves that there's a reason to support an organization that constantly falls short.
The other bit is that fans connect with kids they've watched grow up more than they do with senior players brought in on the open market. There are Borja Valero exceptions, of course, but in a vacuum, we'd all prefer an academy product more than a player of equal talent who transferred in. It demonstrates that the club's process is successful. It also provides a connection to the city: every time you see a kid like Tommaso Martinelli post a picture of himself as a child in the Curva Fiesole, it reinforces the depth of feeling the locals have for the club in a way that nothing else can.
Fiorentina has enjoyed unprecedented success at youth level in the Commisso era. Daniele Galloppa led the kids to their first scudetto in 43 years, adding that trophy to 4 Coppe Italia and 2 Supercoppe since the 2019-2020 season. There's been a rich seam of talent at the RBCVPetc, churning out senior internationals (Federico Chiesa, Jan Mlakar, Michael Kayode), promising youngsters (Daniele Ghilardi, Edoardo Pierozzi, Costantino Favasuli) and steady veterans dotting t
Until the Viola create a B-team, it will lose a crop of academy kids every summer. Most of them never had a chance of breaking through to the first team. For the handful who might have the quality, finding an acceptable path within the club is difficult. The most common outcome is what happened to, say, Eduard Duțu last year: a promising young defender, he ended up on 7 loan deals before leaving Florence for good last year without ever making a senior appearance. Guys like Luca Ranieri—loans to Foggia, Ascoli, SPAL, and Salernitana before breaking through—are the exception. It's rare for to see one of these youngsters take that final step.
Young players matter to fans in a way they don't to the club itself. For fans, every 17-year-old who dribbles a 3rd-tier defender in preseason becomes a future star. That's not just luxurious thinking. We need that fantasy—the academy contains untold riches—because it reinforces two narratives that sustain us, especially through the lean years. First, we get to believe that we know ball and can identify buried talent because that allows us to think of ourselves as knowledgeable, superior, and in control of something over which we actually exert no control. Second, we get to think that Fiorentina is doing something better than other clubs, allowing us to enjoy vicarious success and prove to ourselves that there's a reason to support an organization that constantly falls short.
The other bit is that fans connect with kids they've watched grow up more than they do with senior players brought in on the open market. There are Borja Valero exceptions, of course, but in a vacuum, we'd all prefer an academy product more than a player of equal talent who transferred in. It demonstrates that the club's process is successful. It also provides a connection to the city: every time you see a kid like Tommaso Martinelli post a picture of himself as a child in the Curva Fiesole, it reinforces the depth of feeling the locals have for the club in a way that nothing else can.
Fiorentina has enjoyed unprecedented success at youth level in the Commisso era. Daniele Galloppa led the kids to their first scudetto in 43 years, adding that trophy to 4 Coppe Italia and 2 Supercoppe since the 2019-2020 season. There's been a rich seam of talent at the RBCVPetc, churning out senior internationals (Federico Chiesa, Jan Mlakar, Michael Kayode), promising youngsters (Daniele Ghilardi, Edoardo Pierozzi, Costantino Favasuli) and steady veterans dotting t
5 days ago
WASHINGTON (AP) — A former Olympian charged with deliberately damaging the Lincoln Memorial Reflecting Pool is seeking access to all of the closed-door testimony that led to his indictment, pointing to "irregularities" in those grand jury proceedings.
In a court filing Monday, David Hearn's attorneys requested an order for the government to turn over a complete transcript of all grand jury proceedings. They also want prosecutors to disclose the legal instructions they gave to grand jurors about the elements of Hearn's alleged crime.
Hearn pleaded not guilty earlier this month to one felony count of property destruction and has a trial scheduled to start Sept. 28 in D.C. Superior Court. The charge, which carries a maximum prison sentence of 10 years upon conviction, accuses Hearn of causing at least $1,000 in damage to the pool.
But his lawyers question whether prosecutors properly presented the grand jury with adequate evidence to support the amount of damage alleged in Hearn's indictment. A National Park Service official testified that the pool already was damaged before Hearn allegedly touched it, couldn't quantify any damage attributable to Hearn and said the same repairs would have been required regardless of his conduct, defense attorneys said.
"The witness's testimony established that the pool had substantial preexisting damage requiring repair before any alleged conduct by Mr. Hearn," his lawyers wrote. "According to the witness, the pool was leaking more than one million gallons of water per week; its expansion joints had exceeded their service life; and the liner already contained a rip."
#pool #jury #court #service
In a court filing Monday, David Hearn's attorneys requested an order for the government to turn over a complete transcript of all grand jury proceedings. They also want prosecutors to disclose the legal instructions they gave to grand jurors about the elements of Hearn's alleged crime.
Hearn pleaded not guilty earlier this month to one felony count of property destruction and has a trial scheduled to start Sept. 28 in D.C. Superior Court. The charge, which carries a maximum prison sentence of 10 years upon conviction, accuses Hearn of causing at least $1,000 in damage to the pool.
But his lawyers question whether prosecutors properly presented the grand jury with adequate evidence to support the amount of damage alleged in Hearn's indictment. A National Park Service official testified that the pool already was damaged before Hearn allegedly touched it, couldn't quantify any damage attributable to Hearn and said the same repairs would have been required regardless of his conduct, defense attorneys said.
"The witness's testimony established that the pool had substantial preexisting damage requiring repair before any alleged conduct by Mr. Hearn," his lawyers wrote. "According to the witness, the pool was leaking more than one million gallons of water per week; its expansion joints had exceeded their service life; and the liner already contained a rip."
#pool #jury #court #service
6 days ago
Global equities ended last week little changed in local currency and up 0.6% in sterling terms. This continued the choppy pattern of recent weeks with markets currently down 1.5-2% from their peak in early June. The US underperformed with a gain of 0.3% in sterling terms while the UK and emerging markets were both up around 1.3%.
Meanwhile, government bonds in the US and UK both lost 0.5% with yields re-testing their highs in early May. 10-year UK gilt yields tested 5.1% while US yields reached 4.7%, before retreating a bit.
The war with Iran was centre stage with renewed attacks by both sides and Trump once again upping his threats. The new ingredient this time was that concerns were not limited to the Strait of Hormuz but extended to the Bab El Mandeb Strait with the Houthis exchanging blows with Saudi Arabia and threatening to close the waterway.
The importance of this new chokepoint is two-fold. First, it threatens Saudi's ability to divert via its pipeline a good part of its oil production to the Red Sea rather than the Strait of Hormuz. Second, it poses a threat to container traffic more generally which use the Suez Canal to avoid a long and costly diversion around the African coast.
Oil duly moved back up to $100 per barrel mid-week from a low of close to $70pb all of three weeks ago. But it is back down to $88pb this morning as negotiations between the US and Iran started up once again over the weekend, easing fears of a major escalation. However, this morning, Iran said it is not seeking new peace talks, so the confusion continues.
Even so, the fact remains that Trump appears to have chickened out yet again – be it because the hike in oil prices has pushed US gasoline prices back above $4 per gallon, the rise in US Treasury yields has caused concerns or because, as has been reported, the US lacks the necessary munitions.
#strait #back #sterling
Meanwhile, government bonds in the US and UK both lost 0.5% with yields re-testing their highs in early May. 10-year UK gilt yields tested 5.1% while US yields reached 4.7%, before retreating a bit.
The war with Iran was centre stage with renewed attacks by both sides and Trump once again upping his threats. The new ingredient this time was that concerns were not limited to the Strait of Hormuz but extended to the Bab El Mandeb Strait with the Houthis exchanging blows with Saudi Arabia and threatening to close the waterway.
The importance of this new chokepoint is two-fold. First, it threatens Saudi's ability to divert via its pipeline a good part of its oil production to the Red Sea rather than the Strait of Hormuz. Second, it poses a threat to container traffic more generally which use the Suez Canal to avoid a long and costly diversion around the African coast.
Oil duly moved back up to $100 per barrel mid-week from a low of close to $70pb all of three weeks ago. But it is back down to $88pb this morning as negotiations between the US and Iran started up once again over the weekend, easing fears of a major escalation. However, this morning, Iran said it is not seeking new peace talks, so the confusion continues.
Even so, the fact remains that Trump appears to have chickened out yet again – be it because the hike in oil prices has pushed US gasoline prices back above $4 per gallon, the rise in US Treasury yields has caused concerns or because, as has been reported, the US lacks the necessary munitions.
#strait #back #sterling
9 days ago
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Remember when gas was under $4 a gallon and you could take the family out to eat without taking out a second mortgage? Ahhh, those were the days.
As the cost of living rises, everyday expenses are eating into retirement savings. Americans currently participating in workplace retirement plans anticipate needing $1.2 million on average to retire comfortably, according to a Schroders survey released this month. However, just 30% believe they will reach $1 million due in large part to rising costs, debt and competing expenses. In fact, a third of those surveyed said they have more credit card debt than retirement savings. There are also signs that wealthier clients are feeling the squeeze. It's a great chance for advisors to help clients prioritize spending to stay on track for retirement without overextending their resources today.
"While many are still contributing to retirement, they're finding it harder to increase their savings each year," said Nathan Sebesta, an advisor at Access Wealth Strategies. "Retirement savings shouldn't simply be what's left over at the end of the month. It should be treated like any other essential bill."
Sign up for The Daily Upside at no cost for premium ******* ysis on all your favorite stocks.
#savings #without #cost
Remember when gas was under $4 a gallon and you could take the family out to eat without taking out a second mortgage? Ahhh, those were the days.
As the cost of living rises, everyday expenses are eating into retirement savings. Americans currently participating in workplace retirement plans anticipate needing $1.2 million on average to retire comfortably, according to a Schroders survey released this month. However, just 30% believe they will reach $1 million due in large part to rising costs, debt and competing expenses. In fact, a third of those surveyed said they have more credit card debt than retirement savings. There are also signs that wealthier clients are feeling the squeeze. It's a great chance for advisors to help clients prioritize spending to stay on track for retirement without overextending their resources today.
"While many are still contributing to retirement, they're finding it harder to increase their savings each year," said Nathan Sebesta, an advisor at Access Wealth Strategies. "Retirement savings shouldn't simply be what's left over at the end of the month. It should be treated like any other essential bill."
Sign up for The Daily Upside at no cost for premium ******* ysis on all your favorite stocks.
#savings #without #cost
10 days ago
LOS ANGELES (AP) — Republican Steve Hilton launched his general election campaign for California governor Wednesday with a gambit to win over left-leaning voters who dominate the state: Even if they loathe President Donald Trump, he said, they should consider voting for him.
During an event in Los Angeles, against the backdrop of a stinking, scorched food warehouse he described as a symbol of the state's political incompetence, Hilton rolled out a list of campaign promises clearly aimed at residents buckling under California's notoriously high cost of living. He vowed to bring the price of gasoline down to $3 a gallon, about half the current cost, cut residents' utility bills in half, now among the nation's highest, and eliminate state income taxes on the first $150,000 in earnings.
He blamed the state's problems — from homelessness to low student test scores — squarely on Democrats, who hold every statewide office and supermajorities in the Legislature. He called Democrats a "rotten regime that has abandoned the working class."
In his campaign remarks and ads he took out in leading newspapers throughout the state, Hilton addressed his relationship with Trump, who has endorsed him in the race.
"This is not about who you hate in Washington. It's about what we love about California and what we can do to make California once again the best place anywhere in the country to start and raise a family, to start and run a business," he said before a small group of supporters. "That's what this election is about."
#campaign #Trump
During an event in Los Angeles, against the backdrop of a stinking, scorched food warehouse he described as a symbol of the state's political incompetence, Hilton rolled out a list of campaign promises clearly aimed at residents buckling under California's notoriously high cost of living. He vowed to bring the price of gasoline down to $3 a gallon, about half the current cost, cut residents' utility bills in half, now among the nation's highest, and eliminate state income taxes on the first $150,000 in earnings.
He blamed the state's problems — from homelessness to low student test scores — squarely on Democrats, who hold every statewide office and supermajorities in the Legislature. He called Democrats a "rotten regime that has abandoned the working class."
In his campaign remarks and ads he took out in leading newspapers throughout the state, Hilton addressed his relationship with Trump, who has endorsed him in the race.
"This is not about who you hate in Washington. It's about what we love about California and what we can do to make California once again the best place anywhere in the country to start and raise a family, to start and run a business," he said before a small group of supporters. "That's what this election is about."
#campaign #Trump
10 days ago
Gas prices have been front and center this year. United States retail gasoline has jumped in 2026, with the Retail Fuel Price Index showing regular gas at $3.86 per gallon in mid-July, while diesel in some states has pushed above $5 and climbed more than 2% in just a day.
That spike has fed straight into the wider economy: gas costs helped push U.S. inflation to a three-year high in May, with energy making up over 60% of that month's price increase after Iran's closure of the Strait of Hormuz cut off about a fifth of global oil supply.
Crude Oil Prices Rally on Global Supply Risks
Nat-Gas Prices Fluctuate on Tropical Storm Risk
Fervo Energy Just Scored a New 'Buy' Rating. Here's Why.
#states #global
That spike has fed straight into the wider economy: gas costs helped push U.S. inflation to a three-year high in May, with energy making up over 60% of that month's price increase after Iran's closure of the Strait of Hormuz cut off about a fifth of global oil supply.
Crude Oil Prices Rally on Global Supply Risks
Nat-Gas Prices Fluctuate on Tropical Storm Risk
Fervo Energy Just Scored a New 'Buy' Rating. Here's Why.
#states #global
11 days ago
The benchmark diesel price used as the basis for most fuel surcharges rose this week by the second-largest amount since the start of the Iran war.
The Department of Energy/Energy Information Administration average retail diesel price climbed 33.8 cents/gallon to $5.134/g, published Tuesday but effective Monday.
The size of the increase is the second largest since the benchmark price rose 96.2 cts/g on March 9, the first time the DOE/EIA price measured a full week of market movement following the launch of military action against Iran by the U.S. and Israel on February 28/March 1.
With the benchmark price having moved up sharply two weeks in a row, it is now 55.6 cts/g more than where it stood just three weeks ago.
Retail prices, as they generally do, are reacting after the fact to increases in the price of ultra low sulfur diesel (ULSD) on the CME commodity exchange.
#price #march
The Department of Energy/Energy Information Administration average retail diesel price climbed 33.8 cents/gallon to $5.134/g, published Tuesday but effective Monday.
The size of the increase is the second largest since the benchmark price rose 96.2 cts/g on March 9, the first time the DOE/EIA price measured a full week of market movement following the launch of military action against Iran by the U.S. and Israel on February 28/March 1.
With the benchmark price having moved up sharply two weeks in a row, it is now 55.6 cts/g more than where it stood just three weeks ago.
Retail prices, as they generally do, are reacting after the fact to increases in the price of ultra low sulfur diesel (ULSD) on the CME commodity exchange.
#price #march
12 days ago
The national average price of gasoline in the United States topped $4 per gallon once again on Monday following the crude oil price rally of the past week amid the renewed hostilities in the Middle East and the fresh de facto closure of the Strait of Hormuz.
As of July 20, the national average price for a gallon of regular gasoline in the United States was $4.0030, according to AAA data.
Prices are now up from $3.8720 per gallon on Monday last week, following a week of re-escalation in the Middle East with Iranian attacks on vessels in the Strait of Hormuz, nine consecutive nights of U.S. strikes against Iran, and Iranian missiles targeting U.S. bases and military ****** ets in America's regional allies, including Kuwait, Jordan, and Bahrain.
At this time last year, the average price of gasoline in the United States was $3.1410.
But the war in Iran has hiked fuel prices globally, including in the United States.
#states #Monday
As of July 20, the national average price for a gallon of regular gasoline in the United States was $4.0030, according to AAA data.
Prices are now up from $3.8720 per gallon on Monday last week, following a week of re-escalation in the Middle East with Iranian attacks on vessels in the Strait of Hormuz, nine consecutive nights of U.S. strikes against Iran, and Iranian missiles targeting U.S. bases and military ****** ets in America's regional allies, including Kuwait, Jordan, and Bahrain.
At this time last year, the average price of gasoline in the United States was $3.1410.
But the war in Iran has hiked fuel prices globally, including in the United States.
#states #Monday
13 days ago
The benchmark diesel price used as the basis for most fuel surcharges rose this week by the second-largest amount since the start of the Iran war.
The Department of Energy/Energy Information Administration average retail diesel price climbed 33.8 cents/gallon to $5.134/g, published Tuesday but effective Monday.
The size of the increase is the second largest since the benchmark price rose 96.2 cts/g on March 9, the first time the DOE/EIA price measured a full week of market movement following the launch of military action against Iran by the U.S. and Israel on February 28/March 1.
With the benchmark price having moved up sharply two weeks in a row, it is now 55.6 cts/g more than where it stood just three weeks ago.
Retail prices, as they generally do, are reacting after the fact to increases in the price of ultra low sulfur diesel (ULSD) on the CME commodity exchange.
#retail #week
The Department of Energy/Energy Information Administration average retail diesel price climbed 33.8 cents/gallon to $5.134/g, published Tuesday but effective Monday.
The size of the increase is the second largest since the benchmark price rose 96.2 cts/g on March 9, the first time the DOE/EIA price measured a full week of market movement following the launch of military action against Iran by the U.S. and Israel on February 28/March 1.
With the benchmark price having moved up sharply two weeks in a row, it is now 55.6 cts/g more than where it stood just three weeks ago.
Retail prices, as they generally do, are reacting after the fact to increases in the price of ultra low sulfur diesel (ULSD) on the CME commodity exchange.
#retail #week
13 days ago
With the war in Iran continuing to escalate, the national average gas price for a gallon of regular gas is now $4, according to AAA. Experts tell NBC News consumers can expect higher prices in the days ahead during the busy summer travel season. NBC's Christine Romans reports.
14 days ago
DUBAI, United Arab Emirates (AP) — The United States conducted a new round of airstrikes early Monday targeting Iran after announcing the death of another American service member, hitting around a northwestern city believed to be home to underground missile bases. Iran responded by launching an attack targeting Bahrain, the home of the U.S. Navy's 5th Fleet, and Kuwait.
The latest attacks again showed how, step by step, the U.S. and Iran have inched closer to all-out war as last month's interim deal meant to permanently end the fighting has crumbled and shipping traffic in the Strait of Hormuz has largely stalled. Both sides have targeted civilian infrastructure relied on by millions of people.
Meanwhile, benchmark Brent crude rose Monday above $90 a barrel, further fueling a global energy crisis sparked by the conflict. An average gallon of regular gasoline in the U.S. also rose to $4, a key metric for Americans that puts more pressure on their wallets ahead of midterm elections this fall.
The U.S. military said the service member was killed in Iraq on Saturday during the "controlled detonation" of a downed Iranian drone.
"We hit them very hard again tonight," U.S. President Donald Trump said. "And we did that in honor of the" soldiers killed, he said.
The latest attacks again showed how, step by step, the U.S. and Iran have inched closer to all-out war as last month's interim deal meant to permanently end the fighting has crumbled and shipping traffic in the Strait of Hormuz has largely stalled. Both sides have targeted civilian infrastructure relied on by millions of people.
Meanwhile, benchmark Brent crude rose Monday above $90 a barrel, further fueling a global energy crisis sparked by the conflict. An average gallon of regular gasoline in the U.S. also rose to $4, a key metric for Americans that puts more pressure on their wallets ahead of midterm elections this fall.
The U.S. military said the service member was killed in Iraq on Saturday during the "controlled detonation" of a downed Iranian drone.
"We hit them very hard again tonight," U.S. President Donald Trump said. "And we did that in honor of the" soldiers killed, he said.
20 days ago
Supermajors are set to report ****** per profits for the second quarter thanks to the surge in oil and gas prices, driven higher by the hostilities between the United States, Israel, and Iran. This is a problem for governments—notably the Trump administration, but politicians in Europe are angry at Big Oil's good fortune again.
Oil prices soared fourfold earlier this year after U.S. and Israeli strikes on Iran prompted the latter to shut traffic via the Strait of Hormuz—something Tehran had been threatening it would do for decades but had never before actually done. The shock of this development gave oil and gas prices an initial kick, and the resulting production squeeze added momentum, sending Brent crude to over $100 per barrel. While oil prices never got as high as they were in 2022, governments around the world were generally in a weaker financial position than they were four years ago, making the situation more challenging.
In the United States, gas prices topped $4 per gallon as a result of the war, prompting warnings of a potential recession unless the conflict is resolved quickly. President Trump himself singled out Big Oil as the culprit for the high prices at the pump, blaming the industry for price-gouging and even ordering a federal investigation.
Related: People Are Talking About Contango While Oil Markets Are Far From Recovered
"The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil. Those prices are dropping like a rock! In other words, customers are being 'gouged'," Trump wrote on TruthSocial at the end of last month. "I have instructed the DOJ to immediately start looking into this. Gasoline prices better start going down a lot faster than what I'm seeing!"
Oil prices soared fourfold earlier this year after U.S. and Israeli strikes on Iran prompted the latter to shut traffic via the Strait of Hormuz—something Tehran had been threatening it would do for decades but had never before actually done. The shock of this development gave oil and gas prices an initial kick, and the resulting production squeeze added momentum, sending Brent crude to over $100 per barrel. While oil prices never got as high as they were in 2022, governments around the world were generally in a weaker financial position than they were four years ago, making the situation more challenging.
In the United States, gas prices topped $4 per gallon as a result of the war, prompting warnings of a potential recession unless the conflict is resolved quickly. President Trump himself singled out Big Oil as the culprit for the high prices at the pump, blaming the industry for price-gouging and even ordering a federal investigation.
Related: People Are Talking About Contango While Oil Markets Are Far From Recovered
"The big Oil Companies are not dropping their price at the pump commensurate with the sharply lower prices they are paying for Oil. Those prices are dropping like a rock! In other words, customers are being 'gouged'," Trump wrote on TruthSocial at the end of last month. "I have instructed the DOJ to immediately start looking into this. Gasoline prices better start going down a lot faster than what I'm seeing!"
24 days ago
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The Iran war pushed energy prices higher over the past couple of months, with elevated oil prices beginning to spill over into everyday expenses. And oil prices spiked sharply on Wednesday after US WTI crude (CL=F) jumped to $75.54 a barrel and Brent crude (BZ=F) climbed to $79.81, as President Trump declared the US-Iran deal "over."
Just last week, Brent had fallen below $71 a barrel, its lowest level since before the war began in February. Gas prices, which rose $1.16 a gallon nationally at the height of the war, had eased back to $3.79 — but could climb again if the renewed conflict disrupts supply through the Strait of Hormuz.
But fuel costs are not the only everyday household budget item to watch.
Roughly one-third of the world's fertilizer moves through the Strait of Hormuz, and the months-long closure raised concerns about supply. Farmers are warning of fertilizer shortages and price increases.
The Iran war pushed energy prices higher over the past couple of months, with elevated oil prices beginning to spill over into everyday expenses. And oil prices spiked sharply on Wednesday after US WTI crude (CL=F) jumped to $75.54 a barrel and Brent crude (BZ=F) climbed to $79.81, as President Trump declared the US-Iran deal "over."
Just last week, Brent had fallen below $71 a barrel, its lowest level since before the war began in February. Gas prices, which rose $1.16 a gallon nationally at the height of the war, had eased back to $3.79 — but could climb again if the renewed conflict disrupts supply through the Strait of Hormuz.
But fuel costs are not the only everyday household budget item to watch.
Roughly one-third of the world's fertilizer moves through the Strait of Hormuz, and the months-long closure raised concerns about supply. Farmers are warning of fertilizer shortages and price increases.
24 days ago
Some offers on this page are from advertisers who pay us, which may affect which products we write about, but not our recommendations. See our Advertiser Disclosure.
Travelers are finally seeing relief at the pump. The national average price of gasoline dropped to $3.79 per gallon, according to AAA, compared with $4.17 a month ago. Current diesel prices are $4.77.
It's "good news for motorists," said Patrick De Haan, head of petroleum ****** ysis at GasBuddy, in a post on X.com. He said gas prices "should head toward $3.70/gal now that a deal with Iran has been signed – and seeing movements resume in the Strait [of Hormuz]."
De Haan noted in weekly commentary that broader price volatility is likely to persist as oil reacts to developments between the U.S. and Iran and their wider implications for global energy supplies.
Lower prices at the pump could bring some relief for consumers after May's consumer price index rose 4.2% from a year earlier. Energy costs accounted for more than 60% of the increase from April, with energy prices rising 3.9%. June CPI data is due July 14.
Travelers are finally seeing relief at the pump. The national average price of gasoline dropped to $3.79 per gallon, according to AAA, compared with $4.17 a month ago. Current diesel prices are $4.77.
It's "good news for motorists," said Patrick De Haan, head of petroleum ****** ysis at GasBuddy, in a post on X.com. He said gas prices "should head toward $3.70/gal now that a deal with Iran has been signed – and seeing movements resume in the Strait [of Hormuz]."
De Haan noted in weekly commentary that broader price volatility is likely to persist as oil reacts to developments between the U.S. and Iran and their wider implications for global energy supplies.
Lower prices at the pump could bring some relief for consumers after May's consumer price index rose 4.2% from a year earlier. Energy costs accounted for more than 60% of the increase from April, with energy prices rising 3.9%. June CPI data is due July 14.
25 days ago
The benchmark price used for most fuel surcharges has fallen for the 12th time in 13 weeks in an oil market that remains bifurcated to an almost historical level.
The Department of Energy/Energy Information Administration average weekly retail diesel price declined 9 cents/gallon to $4.578/g, effective Monday and published Tuesday. That price decline in those 13 weeks would have been consecutive except for a one-week big jump in early May.
Prices on the street appear to be volatile enough that three indicators of their number are producing a significant disparity. The AAA average retail diesel price for Tuesday was $4.765/g, up a little less than one cent from the prior day in the first increase recorded in almost a month.
Meanwhile, the DTS.USA data series in SONAR was at $4.81/g Tuesday.
But the more stark "split decision" in the oil market is more clearly evident in what are known as "crack spreads" between the price of crude and the price of the products produced from that crude.
The Department of Energy/Energy Information Administration average weekly retail diesel price declined 9 cents/gallon to $4.578/g, effective Monday and published Tuesday. That price decline in those 13 weeks would have been consecutive except for a one-week big jump in early May.
Prices on the street appear to be volatile enough that three indicators of their number are producing a significant disparity. The AAA average retail diesel price for Tuesday was $4.765/g, up a little less than one cent from the prior day in the first increase recorded in almost a month.
Meanwhile, the DTS.USA data series in SONAR was at $4.81/g Tuesday.
But the more stark "split decision" in the oil market is more clearly evident in what are known as "crack spreads" between the price of crude and the price of the products produced from that crude.
1 month ago
There were "no indications" of any mechanical malfunctions or failures of the engine on a skydiving plane that crashed last month in Missouri, according to a National Transportation Safety Board preliminary report released on Thursday.
On June 14, just after takeoff at Butler Memorial Airport in Missouri, the Pacific Aerospace P750 crashed with 12 people on board, including the pilot. Nine of the victims were experienced skydivers, and the other two passengers were about to go on tandem jumps with instructors.
The morning of the accident, the plane had gone up for two skydiving jumps with no problems reported, the report noted. Just before the final flight, the plane was filled with 60 gallons of Jet A aircraft fuel. A post-accident sample from the fuel truck found no sediment or debris present, the NTSB said.
When the plane took off for the last time, it gradually turned to the left, but continued to turn until both wings eventually became perpendicular to the ground. The plane crashed nose-first into a field about 300 yards from the runway and caught fire.
The post-accident review also showed the plane was not overweight when it crashed and met the balance limitations, investigators said.
On June 14, just after takeoff at Butler Memorial Airport in Missouri, the Pacific Aerospace P750 crashed with 12 people on board, including the pilot. Nine of the victims were experienced skydivers, and the other two passengers were about to go on tandem jumps with instructors.
The morning of the accident, the plane had gone up for two skydiving jumps with no problems reported, the report noted. Just before the final flight, the plane was filled with 60 gallons of Jet A aircraft fuel. A post-accident sample from the fuel truck found no sediment or debris present, the NTSB said.
When the plane took off for the last time, it gradually turned to the left, but continued to turn until both wings eventually became perpendicular to the ground. The plane crashed nose-first into a field about 300 yards from the runway and caught fire.
The post-accident review also showed the plane was not overweight when it crashed and met the balance limitations, investigators said.
1 month ago
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Keller Cliffton is the founder and CEO of a drone delivery business that operates in Dallas.
He believes there is a huge inefficiency in using cars to deliver food and other household essentials to residents.
He thinks food delivery could grow from roughly 5.5 billion deliveries annually to 55 billion.
Imagine ordering a rack of ribs, a burrito bowl or a gallon of milk and having it arrive from the sky a few minutes later.
Keller Cliffton is the founder and CEO of a drone delivery business that operates in Dallas.
He believes there is a huge inefficiency in using cars to deliver food and other household essentials to residents.
He thinks food delivery could grow from roughly 5.5 billion deliveries annually to 55 billion.
Imagine ordering a rack of ribs, a burrito bowl or a gallon of milk and having it arrive from the sky a few minutes later.
1 month ago
Reports based on recent flight records say Taylor Swift's private jet may have produced more carbon in about three months than the entire 2024 legs of the Eras Tour did.
Figures reported by International Business Times UK from aviation tracking service JetSpy say Swift's Dassault Falcon 7X returned to service in early March and has since flown 81 times, spending 169 hours airborne.
The aircraft reportedly burned about 60,560 gallons of fuel and generated roughly 639 tons of carbon pollution. That likely exceeds the roughly 557 tons **** ociated with the entire 2024 stretch of the Eras Tour, as calculated by the IB Times.
The plane's activity rose sharply over the spring, going from four flights in March to 19 in April. It also had an average of one flight per day in May. Some of those flights reportedly allowed Swift to appear in Los Angeles and New York within a day of each other.
Critics say the issue goes well beyond one celebrity because private aviation is among the dirtiest forms of travel.
Figures reported by International Business Times UK from aviation tracking service JetSpy say Swift's Dassault Falcon 7X returned to service in early March and has since flown 81 times, spending 169 hours airborne.
The aircraft reportedly burned about 60,560 gallons of fuel and generated roughly 639 tons of carbon pollution. That likely exceeds the roughly 557 tons **** ociated with the entire 2024 stretch of the Eras Tour, as calculated by the IB Times.
The plane's activity rose sharply over the spring, going from four flights in March to 19 in April. It also had an average of one flight per day in May. Some of those flights reportedly allowed Swift to appear in Los Angeles and New York within a day of each other.
Critics say the issue goes well beyond one celebrity because private aviation is among the dirtiest forms of travel.
