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PES up against the clock to sell Philadelphia refinery in cash crunch

7 hours ago DieselGasoil Comments Off on PES up against the clock to sell Philadelphia refinery in cash crunch
NEW YORK (Reuters) – Finding a buyer for Philadelphia Energy Solutions’ oil refinery has grown urgent as the bankrupt company’s funds dwindle and no signs emerge that it is winning a fight for insurance payouts after a June blaze at the plant, according to court documents and bankruptcy experts. FILE PHOTO: The Philadelphia Energy Solutions Read More

Epstein’s prison death was suicide, officials confirm

7 hours ago DieselGasoil Comments Off on Epstein’s prison death was suicide, officials confirm
By Rebecca Taylor, news reporter Jeffrey Epstein died of suicide by hanging, a medical examiner in New York has confirmed. The disgraced financier, 66, was found dead in his prison cell on 10 August. His death sparked outrage as he was facing a 45-year sentence if convicted of multiple counts of sexually abusing underage girls. Read More

Lower rates could boost housing stocks, but risks remain

11 hours ago DieselGasoil Comments Off on Lower rates could boost housing stocks, but risks remain
NEW YORK (Reuters) – Lower U.S. interest rates could help support outperforming U.S. homebuilder stocks, even as they raise worries about the economy, while a bonanza of industry data and Federal Reserve speakers next week are likely to help shape the outlook. After underperforming in 2018, the PHLX Housing Index .HGX is up about 30% Read More

Oil rises as Germany pledges economic stimulus, OPEC slashes output

12 hours ago DieselGasoil Comments Off on Oil rises as Germany pledges economic stimulus, OPEC slashes output
New York — Crude futures edged higher Friday as Germany’s leadership pledged to undertake economic stimulus measures and OPEC reported sharply lower crude output in July. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now NYMEX September WTI settled up 40 cents at $54.87/b and ICE October Brent was 41 Read More

Exclusive: Fed’s Mester weighing argument for U.S. rate cut

14 hours ago DieselGasoil Comments Off on Exclusive: Fed’s Mester weighing argument for U.S. rate cut
CLEVELAND (Reuters) – One Federal Reserve policymaker who opposed the Fed’s recent rate cut is considering whether to support such a move now given risks that a U.S.-China trade war and global slowdown could derail the economy. FILE PHOTO: Cleveland Fed President Loretta Mester takes part in a panel convened to speak about the health Read More

Tyson recalls nearly 40,000 pounds of Weaver chicken patties

15 hours ago DieselGasoil Comments Off on Tyson recalls nearly 40,000 pounds of Weaver chicken patties
FILE PHOTO: Traders gather at the post that trades Tyson Foods on the floor of the New York Stock Exchange June 3, 2014. REUTERS/Brendan McDermid/File Photo (Reuters) – Tyson Foods Inc is recalling nearly 40,000 pounds of its Weaver chicken patties after some consumers found pieces of rubber in the product, the no. 1 U.S. Read More

Feature: USGC ULSD jumps as export demand to Brazil surges

15 hours ago DieselGasoil Comments Off on Feature: USGC ULSD jumps as export demand to Brazil surges
Houston — Brazilian demand for US Gulf Coast diesel (gasoil) this month — spurred by a refinery outage and state-run pricing — has helped drain supplies and push spot differentials past a one-month high. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now S&P Global Platts assessed USGC ULSD Thursday Read More

Wall Street jumps on German stimulus hopes

15 hours ago DieselGasoil Comments Off on Wall Street jumps on German stimulus hopes
NEW YORK (Reuters) – Technology shares led Wall Street’s advance on Friday as a waning bond rally and news of potential German economic stimulus brought buyers back to the market at the close of a turbulent week. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., Read More

Wall Street Week Ahead: Lower rates could boost housing stocks, but risks remain

16 hours ago DieselGasoil Comments Off on Wall Street Week Ahead: Lower rates could boost housing stocks, but risks remain
NEW YORK (Reuters) – Lower U.S. interest rates could help support outperforming U.S. homebuilder stocks, even as they raise worries about the economy, while a bonanza of industry data and Federal Reserve speakers next week are likely to help shape the outlook. FILE PHOTO: Traders work on the floor at the New York Stock Exchange Read More

OPEC reports big drop in crude production, amid ‘somewhat bearish’ market outlook

17 hours ago DieselGasoil Comments Off on OPEC reports big drop in crude production, amid ‘somewhat bearish’ market outlook
London — Led by its kingpin Saudi Arabia, which said it pumped at its lowest level in more than five years, OPEC on Friday reported it slashed its crude production in July, as it continues to battle slumping oil prices. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now OPEC Read More