We are numb with grief over last weekend’s mass shooting in Highland Park, Illinois, a neighboring community to M. Holland’s headquarters and home to many Mployees. Fortunately, all Mployees are safe and accounted for, but our hearts and thoughts are with the community after this tragic attack. Our President and CEO Ed Holland shared this message with Mployees this week.
Oil prices rose 4% Thursday, rebounding from steep losses the previous two sessions.
In mid-day trading today, WTI futures were up 1.7% at $104.40/bbl, Brent was up 2.1% at $106.80/bbl, and U.S. natural gas was down 1.9% at $6.18/MMBtu.
The average U.S. gasoline price fell for 23 consecutive days through Thursday after hitting a record $5.02 a gallon last month. The current price stands at $4.72 a gallon.
U.S. crude stockpiles rose by 8.2 million barrels last week after the government released another batch of strategic reserves, according to the EIA. Inventories are 10% below the average for this time of year.
Shell says refining margins have nearly tripled from Q1 and could bring a $1 billion earnings boost in the current quarter.
Layoffs announced by U.S.-based employers surged 57% from May to June, new data shows.
The average U.S. mortgage rate fell from 5.7% to 5.3% last week, the largest one-week drop since 2008.
Home prices in San Francisco Bay rose at an unusually low rate of 2% year over year in June, likely reflecting the choice of more workers to move away from the expensive city as they continue working from home.
France unveiled a $20.35 billion inflation-relief package on Thursday that will include new fuel discounts and rent caps.
The Chinese government is considering a $220 billion sale of special municipal bonds in the second half of this year, an unprecedented acceleration of infrastructure funding aimed at boosting the country’s lagging economy.
Hong Kong’s airport is unveiling a third runway that will increase its footprint by 50% today, part of an $18 billion expansion project that comes as flight capacity to and from the island has nearly halted due to pandemic restrictions.
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