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☆ I'm a boomer who was evicted from my apartment of 25 years. I was angry and embarrassed, but I have no choice but to keep renting.
▼ + stars: | 2024-10-16 | by ( Jen Glantz | ) www.businessinsider.com time to read: +6 min

Trina Kaye was evicted from her Los Angeles apartment in 2019 after 25 years. Her apartment was renovated and re-rented at a higher price after her eviction. AdvertisementThis as-told-to essay is based on a conversation with Trina Kaye, a 68-year-old who was evicted from her Los Angeles apartment in 2019. I lived in the same Los Angeles apartment for 25 years, and I loved it. They renovated my apartment and raised the rentI heard from my neighbors in the building that they renovated my unit when I moved out.

Persons: Trina Kaye, California's, —, It's, would've, I've, Robertson, they've Organizations: Service Locations: Los Angeles, Angeles, Fernando Valley, Mar Vista, California, It's, Pico

☆ Stocks making the biggest moves midday: United Airlines, Morgan Stanley, ASML, Prologis and more
▼ + stars: | 2024-10-16 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

United Airlines – The stock soared 11% after the airline posted an earnings and revenue beat for the third quarter and guided for a strong fourth quarter. In addition, United said it is starting a $1.5 billion share buyback, its first since before the Covid pandemic. The firm posted earnings of $1.88 per share, higher than the $1.58 expected by a LSEG analyst poll. J.B Hunt Transport Services – Shares added 3.4% after the company posted a top and bottom line beat. J.B. Hunt posted $1.49 earnings per share on $3.07 billion of revenue in the third quarter.

Persons: United, Morgan Stanley, Novocure, J.B, Hunt, LSEG, Aspen Aerogels, FactSet, Prologis, Hamid Moghadam, —, Alex Harring, Hakyung Kim, Samantha Subin, Pia Singh, Michelle Fox Organizations: Food and Drug Administration, United Airlines, Revenue, Cisco Systems, Citi, Food, ASML, J.B Hunt, Aspen, of Energy, U.S . Bancorp, General Motors, Lithium Americas Corp Locations: Dutch, U.S

☆ Consumers are in for some relief: Lower energy prices are on the way
▼ + stars: | 2024-10-16 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +5 min

London CNN —For consumers still scarred by jumps in their energy bills in recent years, the International Energy Agency has good news: Oil and natural gas prices will probably be lower over the next five years. Energy prices soared in the wake of Russia’s full-scale invasion of Ukraine in February 2022, which followed a rise in global demand as economies reopened after Covid lockdowns put lives on hold. And that “would move us into a very different energy world from the one we have experienced in recent years during the global energy crisis,” he added in a statement accompanying the IEA’s latest World Energy Outlook report. But global oil output has been increasing, thanks mostly to producers in the United States and other countries in the Americas. The energy body reiterated its previous forecasts that demand for oil, natural gas and coal will peak by the end of the decade.

Persons: Covid lockdowns, Ukraine don’t, Fatih Birol, Birol, ” Birol, “ Organizations: London CNN, International Energy Agency, Energy, Brent, IEA, US, CNN, ” Locations: Ukraine, United States, Americas, Qatar

☆ Couples in successful relationships always use these 6 phrases: 'You'll grow stronger both individually and as a unit,' therapist says
▼ + stars: | 2024-10-16 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +3 min

But therapists have found that couples who clearly express their appreciation and empathy for one another have longer lasting unions. "If you and your partner regularly use these phrases, it's a sign that you're already a mentally strong couple," she says. "And if you don't yet, you can start implementing them and find that you'll grow stronger both individually and as a unit." Here are six phrases successful couples use, according to relationships therapists. Saying, "It's understandable you feel that way," can be reassuring and show you have empathy, Morin says.

Persons: Amy Morin, " Morin, John, Julie Gottman, Morin, I've Organizations: CNBC

☆ Amazon invests in nuclear energy, hot on the heels of Google and Microsoft
▼ + stars: | 2024-10-16 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

The first sites in Washington and Virginia would provide carbon-free energy to meet growing demand. Amazon's announcement follows recent investments in nuclear energy from Microsoft and Google amid the AI boom. Advertisement"We need smart solutions that can help us meet growing energy demands while also addressing climate change," Amazon's vice president of global data centers, Kevin Miller, said in a statement. The first sites in Washington and Virginia would provide carbon-free energy to meet growing demand through partnerships with Energy Northwest and Dominion Energy, respectively. Constellation Energy has struck a deal to provide Microsoft with nuclear power by reopening the Three Mile Island plant.

Persons: —, Ken Griffin, Kevin Miller, – Organizations: Microsoft, Google, Service, Tech, Amazon, AWS, Citadel, Ares Management Corporation, NGP, University of Michigan, Energy Northwest, Dominion Energy, E, Constellation Energy, Susquehanna, Electric, IEEE Spectrum, Dow Locations: Washington, Virginia, Pennsylvania, New Jersey , Ohio, Texas

☆ Three-Stock Lunch: Morgan Stanley, Cisco and Dominion Energy
▼ + stars: | 2024-10-16 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: Morgan Stanley, Cisco and Dominion EnergyThomas Martin, Globalt Investments senior portfolio manager, joins ‘Power Lunch’ to discuss stock plays for three stocks.

Persons: Morgan Stanley, Dominion Energy Thomas Martin Organizations: Cisco, Dominion Energy, Globalt Investments

☆ 'October theory' explains why fall is a better time for hitting your goals than New Year's
▼ + stars: | 2024-10-16 | by ( Julia Pugachevsky | ) www.businessinsider.com time to read: +4 min

'October theory' originated on TikTok and is the belief that fall is the best time to set goals. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . For those who struggle to meet their yearly goals, the issue might just be timing. According to "October theory," a concept that originated on TikTok in 2023 and recently went viral, people feel more motivated to set and pursue goals because they realize the year is almost over. They would reflect on their year so far and help each other set 90-day goals to finish it out strong.

Persons: —, Patricia Dixon, Kiki Ramsey, Ramsey, Dixon Organizations: Service, Business, Ramsey

☆ Kairos Power CEO on nuclear power deal with Google
▼ + stars: | 2024-10-16 | 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 EmailKairos Power CEO on nuclear power deal with GoogleMike Laufer, Kairos Power co-founder and CEO, joins 'Squawk on the Street' to discuss competition in the small modular reactor space, the industry's pressing power needs relative to the building plans for nuclear energy, and much more.

Persons: Google Mike Laufer, Kairos Organizations: Kairos, Google

☆ Just ignore the word ‘tariff’ — it’s a tax
▼ + stars: | 2024-10-16 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

Especially when you hear words like “tariffs.”But, given the economy’s central importance in the 2024 race, it’s worth hammering on an Econ 101 fact: Tariffs are a tax on Americans. Very simply: When the US government decides to put a tariff (read: tax) on, say, Chinese goods, the actual money going to the US Treasury comes from the American company doing the importing. “To me, the most beautiful word in the dictionary is tariff,” Trump said at one point. But it’s important to judge Trump’s first-term trade policies and the Biden-Harris approach against context of the unprecedented tariff wave Trump is planning if he gets to Round Two. Bottom line: Tariffs might be a beautiful word to Trump’s ear, but he’s telling a fictional story about what they do in practice.

Persons: CNN Business ’, New York CNN —, Donald Trump, It’s, —, Annette Choi, Katie Lobosco, podcaster Sean Kelly, David Pakman, Kelly, he’s, ” Kelly, Pakman, “, Trump, ” Trump, John Micklethwait, Micklethwait, it’s, Joe Biden, Kamala Harris, Trump’s, Harris, ”, Scott Lincicome, United States —, ” David Kelly, Matt Egan Organizations: CNN Business, New York CNN, CNN, US Treasury, Bloomberg, Economic, of Chicago, Biden, Trump, Republican, Cato Institute, Peterson Institute for International Economics, Federal, Peterson Institute, Asset Management Locations: New York, China, United States, States

☆ After 10 years in corporate America, one woman took a 'micro-retirement.' It reversed burnout and improved her quality of life.
▼ + stars: | 2024-10-16 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +8 min

Anaïs Felt took a "micro-retirement" back in March from her Silicon Valley tech job. The time off on her extended leave healed her burnout and changed her relationship to work, she said. Felt decided to meet with a career coach, who quickly "diagnosed" her with burnout, a syndrome due to "chronic workplace stress." AdvertisementSix months after she left her job, Felt said her mental health has improved, and her burnout is gone. "Maybe I'll work from home and continue on the corporate path, or maybe I'll start my own business," she said.

Persons: Anaïs Felt, Felt, —, Emily, Amelia Nagoski, TikTok, Prepping, you’re, ike, ake, rick, hough, ince, ersonal Organizations: Service, Hope College, ust Locations: San Francisco, America, Silicon Valley, Michigan, ife, alance, oman

☆ The solid-state batteries hype is fading – prompting auto giants to consider alternatives
▼ + stars: | 2024-10-16 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

Solid-state batteries have long been billed as the "holy grail" of sustainable driving. As the name suggests, solid-state batteries contain a solid electrolyte, made from materials such as ceramics. Automakers have invested billions of dollars in solid-state battery research and teamed up with developers to produce their own versions for mass production. Tomohiro Ohsumi | Getty Images News | Getty ImagesJapan's Toyota, for instance, has said it is aiming to bring solid-state batteries into mass production between 2027 and 2028. Yet, despite growing hype over the potential rollout of solid-state batteries, analysts remain skeptical about when they will actually make it to market.

Persons: Tomohiro Ohsumi, Japan's Nissan, Germany's Mercedes, Max Reid, Wood Mackenzie, Reid, Wood Mackenzie's Reid, Julia Poliscanova, Poliscanova, Nio, Ganfeng, Environment's Poliscanova Organizations: Afp, Getty, Toyota Motor Corp, Benz Group, Stellantis, Hyundai, Kia, Environmental Defense Fund, CNBC, Transport, Environment, Paris, Show, Qingtao Energy Locations: Nanjing, China's, Jiangsu, PARIS, France, Tokyo, Japan, U.S, China

☆ Oil steadies after sharp falls as Middle East uncertainty persists
▼ + stars: | 2024-10-16 | by ( ) www.cnbc.com time to read: +1 min

Oil rose in early Asian trade on Wednesday on continued uncertainty over conflict in the Middle East, after falling as much as $5 this week to the lowest levels since early October on demand concerns. Brent crude oil futures rose 24 cents, or 0.3%, to $74.49 a barrel by 0054 GMT. U.S. West Texas Intermediate crude futures dropped 27 cents, or 0.4%, to $70.85 per barrel. On the oil demand side, both the Organization of the Petroleum Exporting Countries and the International Energy Agency this week cut their forecasts for global oil demand growth in 2024, with China accounting for the bulk of the downgrades. Analysts polled by Reuters expected crude stockpiles rose by about 1.8 million barrels in the week to Oct. 11.

Persons: Brent Organizations: . West Texas, U.S, Organization of, Petroleum, International Energy Agency, Reuters Locations: Israel, Iran, Beirut, China

☆ U.S. crude oil falls below $71 per barrel, continuing sell-off
▼ + stars: | 2024-10-16 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

U.S. crude futures edged lower Wednesday to trade below $71 per barrel, after selling off steeply in the previous session on reports that Israel will not attack Iran's oil facilities. The U.S. benchmark tumbled more than 4% on Tuesday, after Israel told the U.S. that it will limit its retaliatory strikes to military targets in Iran, senior Biden administration officials told NBC News. Crude oil prices have given up most of the gains made in the wake of Iran's Oct. 1 ballistic missile attack on Israel, as fears of an oil supply disruption in the Middle East have eased. Here are Wednesday's energy prices:

Persons: Israel Organizations: Biden, NBC Locations: Israel, U.S, Iran

☆ GM makes a $625 million lithium-battery move to shore up its EV supply chain
▼ + stars: | 2024-10-16 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

General Motors is investing $625 million in the electric vehicle supply chain. The funds will help Lithium Americas Corp develop and operate a major lithium mine in Nevada. Despite EV production cuts, GM aims to strengthen the domestic lithium supply chain. AdvertisementDetroit-based automaker General Motors is pumping money into the domestic supply chain for electric vehicle batteries. Related stories"Today's joint venture announcement is a win-win for GM and Lithium Americas," Evans continued.

Persons: —, Jonathan Evans, " Evans, Jeff Morrison, GM's Organizations: Motors, Americas Corp, Service, General Motors, EV, GM, US Department of Energy, DOE, Lithium, Rio Tinto, Street Journal Locations: Nevada, Detroit, Humboldt County , Nevada, Thacker, North America, Lithium Americas, Rio

☆ Robots and AI-powered assistive tech are poised to transform accessibility and mobility
▼ + stars: | 2024-10-16 | by ( Jake Hall | ) www.businessinsider.com time to read: +8 min

She credited assistive technologies more broadly with saving her from "desperation and extremely dark thoughts." The Atalante X is made by Wandercraft, a company founded by a group of engineers in 2012 that develops mobility technologies. Kevin Piette, a Paralympic tennis player, carried the Olympic torch in the Atalante X, Wandercraft's robotic exoskeleton. Advancing rehabilitationDr. Laurent Metz, Wandercraft's global chief medical officer, described the Atalante X as a "walking robot full of sensors." Other assistive technologies are redefining accessibility and mobility.

Persons: there's, —, Esther Klang, Klang, Wandercraft, Kevin Piette, Laurent Metz, Metz, ReWalk, Elaine Schaertl, Short, Tatum, Dani Clode, neuroscientists, Clode, It's Organizations: Service, Robotics, Tufts University, Tatum Robotics, National Disability Institute Locations: Wandercraft's, Europe, Brazil

☆ Investor sentiment starting to enter into frothy territory with so much going well for stock market
▼ + stars: | 2024-10-16 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Fully 90% expect a "soft landing," or "no landing" at all (i.e. That's not the case here: the Fed is cutting rates going into, at worst, a soft landing, which is very unusual. The S & P 500 was up 2.0% in September and is higher by 0.9% so far in October. Historically, the S & P tends to rise beginning in the last week of October and through November and December. Goldman Sachs noted that, since 1928, the median S & P 500 return from October 15 to December 31 has been 5.17%.

Persons: That's, Alicia Levine, BNY, Goldman Sachs, Goldman, buybacks, Stocks, there's, AAII, BofA Organizations: America, Trump, Bank of America Global Fund, Survey, Fed, buybacks, American Association of Locations: U.S, frothy

☆ Cramer says the semiconductor sell-off shows AI chips are undervalued by investors
▼ + stars: | 2024-10-16 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer critiqued Tuesday's massive semiconductor sell-off, saying some on Wall Street don't recognize the lasting importance of advanced graphics chips for artificial intelligence, especially ones from Nvidia . Semiconductor companies saw their stocks plummet on Tuesday after ASML posted a disappointing quarter a day earlier than expected. Cramer pointed out that the one bright spot in ASML's poor report was its sales of chips related to AI. And according to Cramer, AI is a large part of the reason companies continue to invest heavily in nuclear power. "In fact, it's only gonna increase, especially when tech companies and utilities are furiously trying to put up nuclear power plants to meet the energy demands of Nvidia's chips."

Persons: CNBC's Jim Cramer, ASML, Cramer Organizations: Nvidia, " Semiconductor, Devices, Broadcom, Big Tech Locations: Dutch

☆ Amazon goes nuclear, to invest more than $500 million to develop small module reactors
▼ + stars: | 2024-10-16 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +5 min

Amazon Web Services is investing over $500 million in nuclear power, announcing three projects from Virginia to Washington State. Amazon is the latest large tech company to buy into nuclear power to fuel the growing demands from data centers. "Amazon and X-energy are poised to define the future of advanced nuclear energy in the commercial marketplace," said X-energy CEO J. Clay Sell. Last spring, AWS invested in a nuclear energy project with Talen Energy , signing an agreement to purchase nuclear power from the company's existing Susquehanna Steam Electric Station, a nuclear power station in Salem Township, Pennsylvania. AWS also purchased the adjacent, nuclear-powered data center campus from Talen for $650 million.

Persons: It's, there's, Matthew Garman, Bob Blue, Glenn Youngkin, Youngkin, Garman, Ken Griffin, Clay Sell Organizations: Amazon, Services, Washington State, AWS, Dominion Energy, Nuclear, Google, Kairos, Constellation Energy, Microsoft, Dominion, Gov, Energy, Fund, Citadel, Ares Management Corporation, NGP, University of Michigan, Talen Energy, Susquehanna Steam Electric Locations: Virginia, Washington, Dominion's, SMRs, U.S, Northern Virginia, Loudon County, Washington State, Northwest, Maryland, Salem Township , Pennsylvania, Talen

☆ Watch out. Analysts have been cutting earnings estimates on these stocks reporting next week
▼ + stars: | 2024-10-16 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Wall Street has been lowering its third-quarter growth estimates for months now. That's not abnormal, however, as third-quarter growth estimates tend to decline in the preceding months. Nearly 10% of S & P 500 companies have already reported results, with more than 79% beating earnings estimates, according to FactSet. Analysts' estimates for earnings per share have been cut by 80.3% over the past three months and 85% over the past six months. Analysts have cut their earnings per share estimates on Tesla by 24.1% over the past three months and 30.8% over the past six months.

Persons: That's, Morgan Stanley, Joe Laetsch, Laetsch, FactSet, Christopher Dendrinos, Dendrinos, Tesla, Wells Fargo Organizations: CNBC Pro, Valero Energy, Wall Street, Valero, RBC Capital Markets, Tesla Locations: U.S, Wells

☆ U.S. crude prices fall more than 4% as Israel is not expected to strike Iran’s oil industry
▼ + stars: | 2024-10-15 | by ( Spencer Kimball | ) www.nbcnews.com time to read: +3 min

Year to date, U.S. crude oil has fallen more than 1%. But Croft warned of a spiral of escalation that could ultimately lead to an oil disruption. Israel could be holding the oil card in reserve until they see how Iran responds to their strike, she said. OPEC also has millions of barrels per day in spare capacity that could jump into the breach if there is a supply disruption. “They will want to see that there is a physical supply disruption before they really jump in front of this.”

Persons: Israel, Helima Croft, CNBC’s, Brent, Croft, ” Croft, “, ” Organizations: Biden, NBC News, RBC Capital Markets, West Texas Intermediate, Natural Gas, Israel, Global, International Energy Agency, IEA, OPEC Locations: Israel, Iran, Americas, U.S, Saudi Arabia

“Who the hell wants to hear questions?” Trump said at the event where the entire point was to take audience questions. It’s bizarre and raises more and more concerns for voters," said a Harris campaign adviser who also previously worked for President Joe Biden. “President Trump has more energy and more stamina than anyone in politics, and is the smartest leader this country has ever seen,” the statement read. Once it was clear that Trump wanted to listen to music, campaign staff behind the scenes started to scramble to accommodate the request. The town hall led to Trump being late for a tele-rally with Pennsylvania Republican Senate candidate Dave McCormick.

Persons: Donald Trump’s, Trump, Kamala Harris, “, ” Trump, Kristi Noem, ”, rallygoer, Jay Bauer, Janice Bauer, Harris, Joe Biden, ” Harris, Sen, Brian Schatz, ” Schatz, Biden, Steven Cheung, “ Nobody, Cheung, ” Cheung, Dave McCormick, let’s, Cecilia Harkness Organizations: Trump, South Dakota Gov, NBC, Voters, Spotify, NBC News, Pennsylvania Republican Locations: Oaks , Pennsylvania, Maria, Montgomery County, “, Pennsylvania, America, Hawaii

Democratic nominee Kamala Harris said on her campaign's X account that Trump rambled and "looked confused" on stage during the event. Almost 30 minutes into the town hall event, Trump paused the event so someone in the audience could receive treatment. Two minutes later, as Trump faced the fifth question of the night, another person became ill and the song played again. Kristi Noem of South Dakota asked Trump on stage, "Do you want to play your song and then greet a few people?" A national NBC News poll on Sunday put Trump and Harris neck and neck among registered voters, with three weeks to go until election day.

Persons: Donald Trump, Trump, Sinead O'Connor's, Let's, Kamala Harris, Steven Cheung, ”, Corey Comperatore, Maria, Luciano Pavarotti, Elvis Presley, James Brown, Kristi Noem, Joe Biden, Rufus Wainwright's, Leonard Cohen, The Trump, Harris, Cecilia Harkness, Janice Bauer Organizations: Democratic, Republican, South Dakota, White, Trump, NBC, Sunday Locations: Oaks , Pennsylvania, Butler , Pennsylvania, South, America, Chester County, Montgomery County

Including Detroit, Trump this year has pointedly attacked the most populous cities in three battleground states crucial to winning the White House: Michigan, Pennsylvania and Wisconsin. Trump’s attacks risk offending swing voters who don’t share his dark view of their big cities, as well as Black voters his campaign is trying to sway in what’s expected to be a close election won on the margins. Thank you, sir, for saying it.’ They want help.”“These cities,” Trump added, “it’s like living in hell.”It’s not only large cities that Trump likes to vilify. A Republican close to Trump’s campaign argued that his attacks on cities aren’t insults but are, rather, a pledge to solve problems that most people who live in those regions recognize. Courting the Black voteMichigan was the site of Trump’s memorable 2016 call for Black voters to support his candidacy.

Persons: Donald Trump, Kamala Harris, Trump, “ You’re, Trump’s, Harris, don’t, ”, Dennis Lennox, Michiganders, Gretchen Whitmer, “, Tim Walz, Brian Hughes, ” Hughes, Brad Todd, Todd, Reagan, ” Todd, “ It’s, ” Andrew Hitt, Hitt, ” Hitt, Nancy Pelosi, ’ Trump, John Lewis, Elijah Cummings, ” Trump, It’s, Aurora —, Mike Coffman, wasn’t, Victoria LaCivita, Trump “, Joe Biden’s, Barack Obama Organizations: Detroit, Democratic, Trump, White House :, Philadelphia, Republican National Convention, GOP, ” Michigan, ”, ” Minnesota Gov, Republican, Wisconsin Republican Party, Conservative, Chicago —, Bloomberg, Fox News, Detroit Pistons, Wings, Tigers, Michigan, Black, Milwaukee, NBC News Locations: Detroit, White House : Michigan, Pennsylvania, Wisconsin, Milwaukee, Philadelphia, Michigan, ” Minnesota, Warren, Harris, “, ”, Macomb County, Afghanistan, New York, Florida, San Francisco, Atlanta, D, Baltimore, Oakland, Springfield , Ohio, Aurora , Colorado, Aurora, Venezuelan, Springfield, Dimondale

☆ Pets in China are earning ‘snack money’ in cafes as their owners send them to work
▼ + stars: | 2024-10-15 | by ( Cnn Staff | ) edition.cnn.com time to read: +5 min

A dog cafe in Fuzhou, in southeastern China. In recent months, cafe owners and pet owners alike have been posting recruitment ads and CVs on Xiaohongshu, China’s answer to Instagram. “We offer a snack per day, and a 30% discount for pet owner’s friends!”CNN reached out to some of the cafe owners for comment. She’s been on the lookout for a job for her 2-year-old tuxedo cat, Zhang Bu’er, which means “not stupid” in Chinese. Xin posted her cat’s CV on Xiaohongshu on September 8, hoping to find him employment at a cat cafe, but hasn’t had any luck yet.

Persons: Jane Xue, Xue, ”, “ Summers, Jane Xue Xue’s, Goldman Sachs, “, ” Xue, ‘, Zhang Bu’er, Xin Xin, Shiba, She’s, Xin, hasn’t, God, Zhang Bu’er’s, ” Xin, CNN’s Joyce Jiang Organizations: CNN, Visitors, ” CNN Locations: Fuzhou, China, Xiaohongshu, Beijing, Guangzhou, CBNData, China’s

☆ Crude oil prices fall more than 4% as looming surplus overshadows Iran-Israel tensions
▼ + stars: | 2024-10-15 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Crude oil futures fell more than 4% on Tuesday, as a looming global oil surplus next year overshadowed the risk of a supply disruption from the conflict between Israel and Iran. Oil prices spiked earlier this month after Iran hit Israel with a ballistic missile attack, raising fears that Israel would respond by targeting the Islamic Republic's oil facilities. The International Energy Agency said Tuesday that its members are prepared to take action if there is a supply disruption in the Middle East. Meanwhile, crude production in the Americas, led by the U.S., is poised to grow by 1.5 million bpd this year and next, the IEA said. OPEC has cut its oil 2024 forecast for the third consecutive month in a row.

Persons: Israel Organizations: International Energy Agency, OPEC Locations: Israel, Iran, Americas, U.S

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