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Oil will go ‘bust’ if recession hits

15 hours ago DieselGasoil Comments Off on Oil will go ‘bust’ if recession hits
Oil prices plunged again on Thursday, dragged down by fears of slowing demand. An unexpected increase in inventories underscored the downside risk to oil prices. The EIAreported a drawdown in crude stocks, but a huge 9.25 million barrel combined increase in gasoline and diesel (gasoil) inventories, which surprised traders. Also, gasoline demand plunged by 0.5 mb/d Read More

Oil pares steep weekly loss as U.S. says it downed Iranian drone

2 days ago DieselGasoil Comments Off on Oil pares steep weekly loss as U.S. says it downed Iranian drone
7/19/2019 LONDON – Oil snapped four days of losses after the U.S. said it downed an Iranian drone near the Strait of Hormuz, stoking concern crude flows from the Middle East may be disrupted. Futures rose as much as 1.9% in New York, paring their steepest weekly decline since the end of May. A U.S. Read More

U.S.-China officials discuss trade; Mnuchin eyes possible in-person talks

3 days ago DieselGasoil Comments Off on U.S.-China officials discuss trade; Mnuchin eyes possible in-person talks
CHANTILLY, France/WASHINGTON (Reuters) – U.S. and Chinese officials spoke by telephone on Thursday as the world’s two largest economies seek to end a year-long trade war, with U.S. Treasury Secretary Steven Mnuchin suggesting in-person talks could follow. Mnuchin and U.S. Trade Representative Robert Lighthizer spoke with their Chinese counterparts over the phone, Lighthizer’s office said Read More

Japan-South Korea gloom spurs worries of ‘never seen before’ chip price spike

4 days ago DieselGasoil Comments Off on Japan-South Korea gloom spurs worries of ‘never seen before’ chip price spike
SEOUL (Reuters) – Memory chip spot prices have risen for the first time this year, indicating grim warnings of “never seen before” spikes and a supply disruption could come to pass as a dispute between South Korea and Japan drags on. FILE PHOTO: Memory chip parts of U.S. memory chip maker MicronTechnology are pictured at Read More

Aston Martin falls 5% in its London IPO

4 days ago DieselGasoil Comments Off on Aston Martin falls 5% in its London IPO
You could own James Bond’s car Aston Martin is joining the ranks of listed automakers with an IPO that values the British company at more than $5 billion. But its first day of trading in London got off to a rocky start. The favorite carmaker of fictional British secret service agent James Bond priced its Read More

‘Global emergency’ declared over deadly Ebola outbreak in DR Congo

4 days ago DieselGasoil Comments Off on ‘Global emergency’ declared over deadly Ebola outbreak in DR Congo
An Ebola outbreak in the Democratic Republic of Congo now constitutes a global public health emergency, the World Health Organisation (WHO) has said. Some 1,650 people have lost their lives as government officials and international aid agencies have struggled to contain the virus over the past year, with fears it could spread within a major Read More

California settles decades-long lawsuit over lead paint, but outcome is bittersweet

4 days ago DieselGasoil Comments Off on California settles decades-long lawsuit over lead paint, but outcome is bittersweet
OAKLAND, Calif. (Reuters) – When Californian counties and cities first sued paint makers in 2000, they wanted the companies to pay billions to remove dangerous old lead paint from hundreds of thousands of homes. Ashley Avila, 11, plays with her nephew Alexander Avila, 3, outside of their home where Alexander was lead poisoned by lead-based Read More

Lebanese brave badly polluted water to swim at public beaches

4 days ago DieselGasoil Comments Off on Lebanese brave badly polluted water to swim at public beaches
BEIRUT (Reuters) – On a beach in northern Lebanon, men and women swim in the Mediterranean’s warm blue waters close to a sewage outlet, while children play in sand that is strewn with litter. A fisherman dangles his line to catch fish in polluted water off Beirut’s seaside Corniche, Lebanon June 23, 2019. REUTERS/Mohamed Azakir Read More

Wall St. flat as railroads slide after CSX signals trade impact

4 days ago DieselGasoil Comments Off on Wall St. flat as railroads slide after CSX signals trade impact
(Reuters) – U.S. stocks treaded water on Wednesday as trade-related weakness hurt CSX Corp’s profit, leading to a decline in railroad stocks and offsetting gains in shares of Abbott and Qualcomm. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., July 1, 2019. REUTERS/Brendan McDermid Shares of CSX Read More

Bank of America trims net interest income guidance

4 days ago DieselGasoil Comments Off on Bank of America trims net interest income guidance
(Reuters) – Bank of America Corp lowered its annual net interest income guidance on Wednesday to reflect a weakened interest rate environment as the second-largest U.S. lender reported higher-than expected earnings fueled by strong consumer trends. A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January Read More