The natural gas price fell 4.2% yesterday and is down 12% this month on warmer-than-expected weather. The price was 2.6% higher in late trading today at $2.66/MMBtu.
Crude prices were higher in late trading, with the WTI up 1.0% at $42.17/bbl and Brent up 1.9% at $45.03/bbl.
With lockdowns in the U.S. increasing, so is the surplus of oil at the key Cushing, Oklahoma, storage facility, where inventory levels are nearly back to April/May levels when oil futures collapsed into negative territory.
Oil production in Libya, which was subject to a port blockade much of the year, have returned to pre-blockade levels and could increase further, upending prospects that OPEC+ will be able to lift current production curtailments in January as planned.
Boeing predicts a 60% expansion in global freighter fleets by 2040 to support increased international trade and e-commerce shipments. The expansion amounts to projected new deliveries of 2,430 all-cargo aircraft by 2039.
The U.S. suffered a record 187,833 new COVID-19 cases yesterday with 2,015 deaths.
With nearly 8,000 hospitalized patients, Texas is recruiting more medical staff for its overwhelmed hospitals, while some cities are closing public buildings for use as hospital beds and makeshift morgues.
New data from AstraZeneca’s vaccine trials showed “promising immune responses” in elderly patients and older adults, with fewer serious side effects than in younger volunteers. A lead investigator for the vaccine said people will likely be able to try a different vaccine if their first shot doesn’t work.
U.S. initial jobless claims rose by 31,000 last week to 742,000, a sharp week-over-week increase after several weeks of modest declines.
Two Federal Reserve officials warned of a recession risk in coming months, calling for more fiscal stimulus, while the Secretary of the Treasury said he will let several current economic stimulus programs expire on December 31 and pulled back $580 billion of unspent funding from a central bank emergency lending program.
Sales of previously owned homes unexpectedly rose to a 15-year high in October, while sales of existing homes rose 4.3% from September to October, the highest gain since 2006.
The median down payment on a home reached $20,775 in the third quarter, the highest in at least two decades in the face of tightening credit standards and higher home prices.
U.S. retailers have missed a total of $52 billion in rent payments since the start of the pandemic, posing risks to businesses already struggling with decreased in-store sales and an unprecedented shift to e-commerce.
Mazda overtook Lexus and Toyota for the top spot in Consumer Reports’ annual reliability survey. Ford luxury brand Lincoln fell to last on the list of 26 brands.
Japan set a daily record for new COVID-19 cases, reporting 2,179 on Thursday. Officials have so far not reissued restrictions on travel or business.
Ireland’s controversial mink fur industry could be at an end, with officials ordering the nation’s three farms to cull their 120,000 animals over concerns of a mutated COVID-19 virus that first appeared in Denmark’s mink population.
With zero local transmissions reported for nine straight days, health officials in Singapore have indicated that restrictions could still be in place for a year or more to prevent another spread.
The International Monetary Fund and Group of 20 member nations are warning that elevated asset prices could be veiling the true state of the global economy, where the economic rebound is threatened by surging COVID-19 cases and increased lockdowns.
Brexit talks have stalled after an official heading Europe’s negotiation tested positive for coronavirus.
With greater focus on low-emissions and electric vehicles, BMW is retooling its German factories to build electric cars while shifting production of combustion engines to Britain and Austria.
U.K.-based electric vehicle startup Arrival will join the Nasdaq stock exchange in anticipation of mass production of an electric bus next year.
Researchers in Brazil have developed a PVC film infused with silica and silver nanoparticles that they say can neutralize COVID-19 on food packaging in minutes.
Our latest Founders Series video is a tribute to Joan Holland, co-founder and matriarch of M. Holland, who recently passed away. Watch the video here.
M. Holland will be closed next Thursday and Friday for the Thanksgiving holiday.
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