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☆ Gas prices in second half of summer will be more affordable than first half, says GasBuddy's De Haan
▼ + stars: | 2023-07-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGas prices in second half of summer will be more affordable than first half, says GasBuddy's De HaanPatrick De Haan, GasBuddy head of petroleum analysis, joins 'Squawk Box' to discuss the average motorist's costs at the gas station, what gas prices will look like going forward, and more.

Persons: GasBuddy's De Haan Patrick De Haan, GasBuddy

☆ Fourth of July gas prices take almost unprecedented plunge
▼ + stars: | 2023-06-30 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

During the week ending June 26, the average gas price was $3.57 a gallon, according to the US Energy Information Administration. Although pump prices have retreated from last year’s record highs, gas prices were cheaper in the summer of 2021 and certainly in 2020 when Covid-19 shut down large swaths of the economy. Pump prices plunge in Ohio, CaliforniaStill, over the past 12 months, gas prices are down in all 50 states, according to AAA. Washington recently replaced California with the unwanted distinction of having America’s most expensive gas prices. Why gas prices are downThe tumble in gas prices is an undeniable positive for consumers.

Persons: John LaForge, ”, Patrick De Haan, De Haan, “, ” Wells Fargo’s LaForge, LaForge, Wagner, Vladimir Putin’s, GasBuddy’s De Haan Organizations: New, New York CNN, AAA, That’s, US Energy Information Administration, Wells, Investment Institute, Drivers Locations: New York, Covid, Ohio , California, Indiana, Ohio, California, Illinois, Washington, Ukraine, Russia

☆ California is no longer America’s most expensive state for gas
▼ + stars: | 2023-06-21 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —Drivers in the state of Washington are celebrating the official start of summer with an unwelcome sight: America’s most expensive gas prices. Prior to the past few days, Washington has never been the most expensive state for gas in data going back to 2005, GasBuddy told CNN. Even though Washington has the highest average price, gas stations near major California cities are still charging heavily for gas. Washington state’s average gas price is nearly $2 a gallon above that of America’s cheapest state for fuel: Mississippi, where gas prices average $3.01 a gallon. No state has enjoyed a bigger plunge in gas prices than Delaware, where the state average is down by $1.61 a gallon over the past year, according to AAA.

Persons: Patrick De Haan, GasBuddy, It’s Organizations: New, New York CNN, Drivers, AAA, CNN, Michigan Locations: New York, Washington, California, GasBuddy, Pacific Northwest, Hawaii, America, King County, Seattle, Skamania, Mississippi, Ukraine, Delaware, Indiana, Alaska, Texas

☆ Acore Capital's Warren De Haan say he's finding opportunities in multifamily real estate
▼ + stars: | 2023-06-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAcore Capital's Warren De Haan say he's finding opportunities in multifamily real estateWarren De Haan, Acore Capital co-CEO, joins 'The Exchange' to discuss lender strength and where to find opportunity in credit and commercial real estate.

Persons: Warren De Haan Organizations: Acore

☆ Oil prices sink below $70 on debt ceiling jitters, Russia-Saudi tensions
▼ + stars: | 2023-05-30 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —US oil prices dropped below $70 a barrel Tuesday on concerns about whether the debt ceiling deal will make it through Congress and on reports of tensions between Saudi Arabia and Russia ahead of a key OPEC+ meeting. The selloff marks one of the worst days of the year for the oil market and could help keep a lid on pump prices. “It’s not a layup that the debt deal is going to get done. Treasury Secretary Janet Yellen has warned the government will not have enough funds to meet all of the nation’s obligations if Congress does not address the debt ceiling by June 5. Meanwhile, there are new questions about the relationship between OPEC leader Saudi Arabia and Russia ahead of this weekend’s meeting of oil producers in Vienna.

☆ Why does Wall Street expect a rate hike in June?
▼ + stars: | 2023-05-28 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

CNN —Wall Street expects the Federal Reserve to raise interest rates in June. Not only that, it finally believes the central bank when it says it likely won’t cut rates this year. Futures traders expected a roughly 66% chance of a quarter point rate hike in June as of Friday afternoon, according to the CME FedWatch Tool. That’s a drastic about-face from even earlier this month, when Wall Street expected the central bank to slash rates multiple times this year starting as early as this summer. “If it comes in hotter than expected, it almost locks a rate hike in” for June, said Heppenstall.

☆ Americans to spend $1.6 billion less on gas this Memorial Day weekend
▼ + stars: | 2023-05-26 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

Drivers across the country will be greeted by gas prices much cheaper than a year ago. That’s up from wintertime lows — but down by more than $1 from the year-ago average of $4.60, which was also the national average on the Friday before last Memorial Day. So, today’s gas prices are not cheap historically. The central factor is that oil prices, which are the main driver of retail gas prices, are down. For now, gas prices are much lower than a year ago, contributing to easing inflation across the economy.

☆ Do Dress Sneakers Belong in the Oval Office?
▼ + stars: | 2023-05-19 | by ( Guy Trebay | ) www.nytimes.com time to read: +1 min

Think of it as a rare instance of cross-aisle consensus or else a sartorial trend gone badly wrong. But it did not go unnoticed when, in a photograph from the Oval Office posted to President Joe Biden’s account this week, Speaker of the House Kevin McCarthy, Senator Mitch McConnell and Representative Hakeem Jeffries were all captured wearing some variant of the dreaded footwear hybrid: the sneaker shoe. Weighing in on Twitter, cult men’s wear commentator Derek Guy (@dieworkwear) called out the footgear as a clear lapse in dignity, if not actual protocol. Why pay a visit to a sitting president dressed in shoes designed for power-walking at the mall? “Awful,” Yang-Yi Goh, style director of GQ, pronounced the shoe that has become a style default among Capitol Hill staffers.

☆ Gas is almost $1 cheaper than a year ago
▼ + stars: | 2023-05-15 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

But gas prices are miles away from last summer’s nightmare. At this point last year, gas prices were racing toward $5 a gallon, angering Americans, alarming central bankers and threatening the entire economy. Gas is not cheapTo be sure, gas prices are not nearly as cheap as back in 2020 when the national average crashed below $2 a gallon. Looking ahead, gas prices will probably remain far away from last summer’s peak. “If we return to economic prosperity, we’re going to return to the same gas price explosion as last year.”

☆ Banks aren't the only ones that hold risky commercial-real-estate debt. Pension funds are about to feel the pain, too.
▼ + stars: | 2023-04-24 | by ( Al Yoon | ) www.businessinsider.com time to read: +4 min

Pension funds, REITs, and insurers hold more than $1.2 trillion in commercial-real-estate debt. CalSTRS, a California pension fund, told the FT it will be writing down its real-estate portfolio. Among them are the large pension funds, REITs, and insurance companies, together accounting for more than $1.2 trillion — or 22% — of the $5.62 trillion in total commercial-real-estate debt outstanding, according to BofA Global Research. Some pension funds were already planning to reduce their exposures to commercial real estate even before the recent bank failures magnified the risks. In September, fund managers at Artemis Real Estate Partners and PGIM Real Estate said at a Bisnow conference that their investors indicated they'd be reducing allocations to real estate, just because the assets had been outperforming others.

☆ Panic buying causes widespread gas station closures in South Florida
▼ + stars: | 2023-04-19 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —More than half of gas stations in the Miami-Fort Lauderdale area were without gasoline Wednesday after flooding from last week’s massive storm caused a wave of panic buying by drivers topping off their gas tanks. “I would estimate that 80% of [station closings] are due to panic buying,” said Patrick De Haan, head of petroleum analysis for GasBuddy, which tracks station closings and gas prices. Data from GasBuddy showed that 59% of stations in the Miami-Fort Lauderdale market were closed Wednesday, up from about 20% on Sunday. But the even better news is that with full tanks, drivers will not need to fill up in the coming days as they normally might have, and the panic buying is likely to subside. He expected most of the closed stations to be reopened by the weekend.

☆ Landlords who bought thousands of apartments are facing a reckoning
▼ + stars: | 2023-04-11 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +9 min

Investors showed outsize interest in apartment buildings during the pandemic. Rents and occupancy rates were rising, interest rates remained relatively low, and rental-property prices were climbing with no sign of letting up during a surge in housing demand. Laguna Point did not respond to a request for comment. Marc McDevitt, a senior managing director at Cred iQ, said it was possible Laguna Point had lost some, or even all, of its investment in the deal. While offices have been going through a paradigmatic shift as more workers do their jobs remotely, apartment buildings have experienced robust demand from tenants.

☆ Gas prices are on the rise again and drivers can expect more increases to come after steep oil production cuts by OPEC+
▼ + stars: | 2023-04-06 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

US gas prices have hit a five-month high, fuel-tracker GasBuddy said Thursday. Gas prices are rising following a jump in oil prices after OPEC+ said it will slash production starting in May. The move was widely seen as preemptive action before a potential recession sets in and to put a floor on oil prices. Word of the production cuts by Saudi Arabia and other oil-producing countries sent oil prices soaring this week. National gas prices soared past $5 a gallon in 2022, with that first-ever move taking place after oil producer Russia invaded Ukraine.

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☆ Commercial real estate is struggling with rising rates and bank woes, but the cohead of a $21 billion lender said it's the best time in his more than 20 year career
▼ + stars: | 2023-04-03 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +3 min

High interest rates, office woes, and less bank funding are chilling commercial real estate. But a top commercial real estate lender said there's never been a better time for firms like his. It's a bleak time in commercial real estate, and it can be hard to find any rays of sunshine. One Bank of America analyst just warned commercial real estate presents a major risk regional banks that own a disproportionate 68% of the sector's loans. While interest rate uncertainty is clouding the commercial real estate outlook, some transactions could provide clarity to the market, de Haan said.

☆ This could be Big Oil's last surge
▼ + stars: | 2023-03-19 | by ( Catherine Boudreau | Jacob Zinkula | ) www.businessinsider.com time to read: +12 min

The era of Big Oil could end sooner than its massive profits suggest, analysts told Insider. But the worst-case scenario for the environment — that oil and gas companies reinvest all their extra money to keep growing — isn't happening, Logan said. The role of oil and gas companies in the energy transition is an ongoing debate, analysts told Insider. The UK company cited the need for an "orderly" energy transition. And while Big Oil's finances may begin to show some cracks over the next decade, he doesn't expect them to "suffer financially" for another 25 to 35 years.

☆ Nike's aggressive use of noncompetes is stifling hiring at rivals and startups sneaker brands, insiders say
▼ + stars: | 2023-03-18 | by ( Matthew Kish | ) www.businessinsider.com time to read: +7 min

President Biden and the FTC want to get rid of noncompete agreements. Some former Nike workers remain subject to them. The same could be said of sportswear workers in Portland, Oregon. The same day Biden spoke to the nation, at least three former Nike workers were waiting for their noncompete agreements to end, according to a search of LinkedIn profiles. In sportswear, noncompetes have historically been used to guard industry secrets, which brands fight to protect.

☆ Nike's use of noncompetes threatens to stifle hiring at rivals and startup sneaker brands
▼ + stars: | 2023-03-10 | by ( Matthew Kish | ) www.businessinsider.com time to read: +7 min

☆ Premarket stocks: Here's why you should always wait for the earnings call
▼ + stars: | 2023-01-30 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

We’re currently in the thick of fourth quarter earnings reports, but traders don’t seem to care about how companies fared during the final months of 2022. These slowdowns have been partially factored into stock prices, he said, “but not necessarily in full.”The upside: Market reaction appears to go both ways. Gas prices are surging this month. Gas prices are rocketing higher. Why are gas prices jumping?

This story is part of Select's New & Notable column, where we highlight our favorite product launches, major sales, what we're buying and some of our latest recommendations and advice. This week, we’ve highlighted Ninja’s latest kitchen appliance, Caraway steamers, new bags in the Béis Sport collection and more. The brand is offering 20% off products in the following categories to previous customers: Cordless stick vacuums, upright vacuums, canister vacuums, air purifiers, supersonic hair dryers and Corrale straighteners. For National Puzzle Day (Jan. 29), Jiggy Puzzles is offering 30% purchases of $75 or more, plus free shipping. To recommend the best hair dryers, we spoke to hairstylists about which you should buy depending on your hair type.

☆ NHL roundup: Martin Necas, Hurricanes tie Sharks late, win in OT
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +6 min

[1/8] Jan 27, 2023; Raleigh, North Carolina, USA; Carolina Hurricanes center Martin Necas (88) celebrates his overtime goal against the San Jose Sharks at PNC Arena. San Jose's Michael Eyssimont scored a go-ahead goal with 8:45 remaining in what was a wild third period. Eyssimont's second goal of the season combined with an assist earlier in the third period had the Sharks on the verge of snapping a three-game losing streak. Kings 4, Panthers 3Adrian Kempe and Viktor Arvidsson scored short-handed goals, leading Los Angeles to a win over Florida in Sunrise, Fla. Devils 3, Stars 2 (OT)Jack Hughes scored his second goal of the game 20 seconds into overtime to give New Jersey a road victory over Dallas.

☆ Gas prices have surged 40 cents in a month
▼ + stars: | 2023-01-27 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

But something unusual is happening this year: Gas prices are rocketing higher. Although that’s a far cry from the record of $5.02 a gallon last June, gas prices have increased by 12 cents in the past week and 40 cents in the past month. AAA says some states have experienced much bigger gains over the past month, including Colorado (95 cents), Georgia (68 cents), Delaware (63 cents), Florida (60 cents) and Ohio (59 cents). That helps explain why gas prices in Colorado have surged by nearly $1 a gallon over the past month. Oil prices bounce off lowsBeyond the refinery problems, oil prices have crept higher, helping to drive prices at the pump northward.

☆ Drivers could see gas prices surge to nearly $7 a gallon in some US states as refinery issues bite supply and Chinese demand bounces back, GasBuddy says
▼ + stars: | 2022-12-31 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Gas prices could surge toward $7 a gallon in some US states in 2023, according to GasBuddy. It could be expensive," said Patrick De Haan, head of petroleum analysis at the firm, which tracks fuel costs, in its 2023 fuel outlook. Cities in the West Coast state of California, such as San Francisco and Los Angeles, could see gas prices approach nearly $7 a gallon in the summer of 2023, according to GasBuddy. That means 2022 will close with a yearly national average for gasoline of $3.95 a gallon, the highest yearly average recorded, De Haan tweeted. As China has reopened, oil prices have rebounded," he said in a Friday interview on CNBC.

☆ The window for ultra-low gas prices may be closing, says GasBuddy's Patrick De Haan
▼ + stars: | 2022-12-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe window for ultra-low gas prices may be closing, says GasBuddy's Patrick De HaanPatrick De Haan, head of petroleum analysis for GasBuddy, joins CNBC's 'Squawk Box' to break down the outlook for gas prices in 2023 as China moves to reopen its economy.

☆ Consumers will spend close to $50 billion less on fuel in 2023, says GasBuddy's De Haan
▼ + stars: | 2022-12-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailConsumers will spend close to $50 billion less on fuel in 2023, says GasBuddy's De HaanPatrick De Haan, GasBuddy head of petroleum analysis, joins 'Power Lunch' to discuss the outlook for gas prices the first three months of 2023, if China's reopening will push gas prices higher and more.

☆ $4 gas could return as soon as May, GasBuddy projects
▼ + stars: | 2022-12-27 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN Business —Gas prices will probably be significantly cheaper overall next year. Yet the national average could still climb back above the $4-a-gallon threshold as soon as May, according to GasBuddy projections shared exclusively with CNN. Why gas prices are droppingIn December 2021, before Russia amassed troops at Ukraine’s border, GasBuddy projected the national average for gas would be $3.41 a gallon in 2022. The national average is now about 20 cents below the same period of a year ago, according to AAA. Gas prices are not expected to return to $5 this summer – although GasBuddy isn’t ruling that out.

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