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Neither Harris nor Trump outline specific disaster-relief policies on their website. "Disasters are always political," Thomas Birkland, a political scientist at North Carolina State University who studies the politics of national disasters, told Business Insider. When he was president, Trump responded to several hurricanes. "A charitable interpretation would be mixed on crisis management," Birkland told BI about Trump's past responses to natural disasters. Presidents are somewhat limited in their disaster responses — both Kneeland and Birkland told BI that states and local governments lead disaster responses, with the federal government's assistance.
Persons: Harris, Kamala Harris, Donald Trump, Helene, Trump, Hurricane Milton, Thomas Birkland, Timothy Kneeland, Hurricane Helene, Hurricane Dorian, Hurricane Maria, Birkland, Kneeland, Joe Biden, Betsey, Hurricane Andrew Organizations: Trump, Service, Hurricane, Florida, North Carolina State University, Nazareth University, Georgia, Federal Emergency Management Agency, Republicans, Office, Washington Post, FEMA Locations: North Carolina, Georgia, California, South Carolina, Alabama, Hurricane, Michigan
Traders work on the floor of the New York Stock Exchange during morning trading in New York City. U.S. stock futures were little changed Wednesday night as investors looked ahead to the release of September's consumer price index report. Futures tied to the Dow Jones Industrial Average traded near the flatline. Fed funds futures trading data suggests a roughly 70% likelihood of a quarter-point cut, according to CME Group's FedWatch tool. Economists polled by Dow Jones see core CPI, which excludes food and energy prices, rising by 0.2%.
Persons: Dow, Dow Jones, Stephanie Roth Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Federal, Wolfe Research, Delta Air Lines Locations: New York City . U.S
As investors consider whether — and how — to invest in China, two experts share their views on the market right now. "We believe the scale and focus of these measures, particularly the targeted liquidity injection, address the critical issue of insufficient domestic capital flows into China's stock market. 'China is no longer cheap' Lorraine Tan, director of Asia's equity research at Morningstar, is more cautious looking ahead. "At this point in time, China markets are no longer cheap. Stocks on her radar include "higher quality, moaty names," such as fast-food restaurant chain Yum China Holdings and property developer China Resources Land .
Persons: Jingwei Chen, , Europe —, Chen, Lorraine Tan, Tan, Stocks, — CNBC's Lim Hui Jie Organizations: National, Reform Commission, CSI, Wall, Wrise Private Singapore, CNBC Pro, Companies, BYD, Tencent Holdings, Morningstar, China Holdings, China Resources Locations: China, Asia, East, Europe, Hong Kong
In 2022, William Fulford spent $1.25 million on a Florida home he believes is "hurricane-proof." Years ago, my sister moved down to Anna Maria Island. We drove past Hunters Point and my wife said, "I think you sent me a picture of that place once." AdvertisementAn aerial view of Hunters Point in Cortez, Florida. As of Wednesday night, Hurricane Milton is on track to make landfall close to Hunters Point.
Persons: William Fulford, homebuilder, , Fulford, Anna Maria Island, I'm, It's, Marshall Gobuty, we've, Helene didn't, Helene, Anna Maria, They're, we're, I'd, Hurricane Milton Organizations: Service, Walmart, Mercedes, Pearl Homes, Business, Flood, FEMA Locations: Florida, Fulford, Cortez , Florida, downtown Tampa, Virginia Beach , Virginia, Chesapeake Bay, Milton, Bradenton that's, Sarasota, Virginia Beach, Hurricane
Cherie Luo worked at a matcha farm as part of a requirement during her time at Stanford Graduate Business School. She graduated from Stanford Graduate School of Business in June. In order to graduate, Stanford MBA students are required to fulfill an international program known as the Global Management Immersion Experience. However, the opportunity to work at a matcha farm in Japan for a month stood out. I'm starting a matcha business with my sisterThe matcha farm was located in Wazuka, a town an hour from Kyoto.
Persons: Cherie Luo, Luo, , matcha, Daiki Tanaka, san, that's, we've Organizations: Stanford Graduate Business School, Luo, Service, Stanford Graduate School of Business, Stanford, Global Management, LinkedIn Locations: Silicon Valley, Long Island, Manhattan, Asia, Hong Kong, Indonesia, Japan, New York, Flushing , Queens, Wazuka, Kyoto
CNN —The Great Wall of China has inspired countless works of art in its more than 2,000-year history. Among the most famous is “The Great Wall Walk,” a dramatic 90-day performance that saw lovers Marina Abramović and Frank Uwe Laysiepen (the late German artist known as Ulay) trek towards each other from opposite ends of the landmark. Courtesy of the Marina Abramović ArchivesThe 77-year-old Serbian artist’s new show, “Marina Abramović: Transforming Energy,” features interactive artworks inspired by the Great Wall journey, as well as over 1,200 never-before-seen images taken along the way. Courtesy of the Marina Abramović ArchivesThree months after they set off, the pair’s paths finally crossed at Shenmu in Shaanxi province. According to Abramović, Ulay had stumbled upon an “unbelievable, meaningful” spot located between two temples and waited for her there.
Persons: Marina Abramović, Frank Uwe Laysiepen, Abramović, Ulay, ” Abramović, , Shai Baitel, ” Baitel, That’s, , Patrick McMullan, “ He’s Organizations: CNN, Modern Art, Marina, Marina Abramović, Museum of Modern Art, MAM Shanghai Locations: China, Bohai, Shanghai, Serbian, Shenmu, Shaanxi, New York, New York City, India
Watch CNBC's full interview with Honeywell CEO Vimal Kapur
  + stars: | 2024-10-09 | 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 EmailWatch CNBC's full interview with Honeywell CEO Vimal KapurVimal Kapur, Honeywell chairman and CEO, joins 'Squawk on the Street' to discuss why Kapur is making a 'radical' move to reinvent Honeywell, the chief executive thoughts on the company's energy transition, and much more.
Persons: Vimal Kapur Vimal Kapur, Kapur Organizations: Honeywell
It's why I wrote my book, "Smart, Not Loud: How to Get Noticed at Work for All the Right Reasons," to teach smart professionals how to succeed at work, communicate with confidence, and highlight their genius — without needing to be loudest in the room. It's about being able to focus their energy on the things that give them a return on their efforts. Here are the top four things smart people always do to get noticed and succeed at work:1. Deliver this information clearly, concisely, and directly, and people will perceive you as someone who is smart and engaged. Follow upOne of the most important things you can do to succeed at work is to get comfortable circling back with people.
Persons: It's
It's harder to answer questions or solve problems when you're asked to choose between more than four solutions, research shows. Neuroscientist Paul Glimcher has a simple strategy to cut through the noise and consistently make smart decisions: Instead of trying to pick the best choice, start by picking the worst. Process of elimination isn't exactly a new concept — you might have learned about it in elementary school — but it can help you avoid mistakes and improve your accuracy making everyday decisions, Glimcher said. "We're just good at the binary choice task — pick your best and eliminate your worst," Glimcher added. That's because picking from fewer options can help us make more accurate decisions, said Glimcher.
Persons: Paul Glimcher, Glimcher Organizations: New York University, Fast, CNBC
It's clear Nextera Energy will have to cut its distribution and its 14% yield, says Jim Cramer'Mad Money' host Jim Cramer weighs if Nextera Energy is a good add to your portfolio.
Persons: Jim Cramer
Two Black men, in tuxedos, clasp hands and dance in a smoky foreground in a scene from "Looking for Langston," the 1989 film that reevaluated gay and lesbian contributions to the Harlem Renaissance. When Harlem Was ‘as Gay as It Was Black’ Mapping the people, homes and hot spots that transformed the neighborhood during its Renaissance. A map of Harlem with a location labeled “Ma Rainey at the Lincoln Theater” near 135th Street and Lenox Avenue. Michael Ochs Archives/Getty ImagesMap with location labeled “Bessie Smith at Hotel Olga” in the northernmost part of Harlem. was often called the living room of the Harlem Renaissance, and over the years provided a safe and affordable space for Black artists, writers and thinkers.
Persons: Langston, Henry Louis Gates Jr, Nicholas Park, Clare Corbould, , Ma Rainey’s, Ma Rainey, ” Ma Rainey, , ” Donaldson, Gladys Bentley, Gladys Bentley West, Gladys Bentley West 133rd Street Gladys Bentley, Bentley, Michael Ochs, Bessie Smith, Hotel Olga ”, Bessie Smith Lenox, Lillian Simpson, Emma Chen, ” Smith, Porter Grainger, Everett Robbins, Ain’t, Jimmie Daniels ”, Jimmie Daniels, Daniels, Ethel Waters, Nicholas Avenue, Nicholas, Ethel Williams, Waters, ” Everett, Edna Thomas ”, Edna Thomas, Lloyd Thomas, Olivia Wyndham, Thomas, Wyndham, Georgette Harvey ”, Georgette Harvey, Maria, Porgy ”, Porgy, Bess, Musa Williams, Billy Rose, Hunter ”, Alberta Hunter, Lottie Tyler, Bert Williams, , ” Michael Ochs, Lindy Hop, Shane Vogel, Vogel, Jerome Robbins, James F, Wilson, Duke Ellington, Josephine Baker, Heather Nickels, Harry, Nickels, “ SAVOY, George Karger, Alain Locke, Countee Cullen, Richard Wright, Ralph Ellison, Langston Hughes, Olga ”, Olga Lenox, Edward H, Olga, Victor Hugo Green’s “, Bill “ BoJangles ” Robinson, Robert W Kelley, Alain Locke Washington, ” Alain Locke, Locke —, , Nella Larsen ”, Nella Larsen, Street Nella Larsen, Larsen, Octavio González, Audre Lorde, Hughes, ” Arnold Rampersad, Countee Cullen ”, Harold Jackman, Cullen, Richard Bruce Nugent ”, Richard Bruce Nugent, Thurman, Jade ”, González, Nugent, ” Carl Van Vechten, Carl Van Vechten, Street Carl Van Vechten, Harold Jackman ”, ” Harold Jackman, Jackman, Maurice Hunter ”, Maurice Hunter, Corbould, Claude McKay ”, Claude McKay, West 142nd Street Claude McKay, Alexander Gumby, A’Leila Walker, A’Lelia Walker, Madame C.J, Walker, “ Wallace Thurman ”, Wallace Thurman, Zora Neale Hurston, Gwendolyn Bennett, Sydney ”, Sydney, Iolanthe Sydney, Du Bois, Thurgood Marshall, Robert “ Bobby ” Winchester, Horace Hicks, Isaac Julien, Mr, Julien Organizations: Harlem Renaissance, Harlem, The New, Black, Greenwich, Harvard, Central, Deakin University, Ma Rainey’s Georgia Jazz, Jazz, Lincoln, Lenox, Lincoln Theater, Street, Gladys Bentley West 133rd Street, New York Times, Michael Ochs Archives, Hotel Olga, Blues, Hotel, Lesbian, Blues Women, Communities, West, of Congress, Music Division, Federal, St, Library of Congress, Guild Theatre, Billy Rose Theatre Division, The New York Public, 138th Street, Alberta Hunter, West 138th, ” Michael Ochs Archives, Getty, Savoy, African American Studies, Yale University, Cabaret, 155th Street, Jerome Robbins Dance Division, 131st, CUNY, Hulton, West 133rd, 133rd, Avenues, Cotton, 142nd, Cotton Club 142nd Street, U.S, Swing, 141st, Ballroom, Blacks, 125th, 135th, Harlem Y.M.C.A, Harlem Branch, Columbia University, Lafayette Theater, Lafayette Players, Washington D.C, Wellesley College, 127th, Mount Morris Park, East 127th, 136th, The New York Public Library, Bettmann, Everett, 134th Street, Eighth, West 142nd, West 142nd Street, Cabaret School, Yale, American, Library, 136th Street, “ Infants, Columbia, Harlem’s Locations: tuxedos, Manhattan, Harlem, Central, Rockland, New York, St, Australia, Ma Rainey’s Georgia, Philadelphia, Colonial, British, Alberta, , , Hamilton Lodge, Lenox, Seventh, Morris, Lafayette, Washington, Eighth, Mount Morris, Lenox Avenue, United States, Midtown, Black, Sugar
Parris Goebel Is Changing the Way Women Move Her surreal, muscular dances for Rihanna, SZA and other pop stars have made her one of the world’s most in-demand choreographers. As the music gathered momentum, the camera raced through the crowd of scowling dancers until, finally, Rihanna appeared. The choreographer behind this viral performance, 32-year-old Parris Goebel, has established herself as one of the music industry’s most innovative and in-demand artists. There’s something cathartic about watching a group of (mostly) women snarling in lock step, an image of power and indomitability. Rihanna’s representative confirmed that Rihanna and Goebel were shooting something at the palace, though the project is still under wraps.
Persons: Parris Goebel, Rihanna, SZA, , , Cat, Justin Bieber, Ariana Grande, Goebel, Fatima Robinson, Missy Elliott, Britney, Christina Aguilera’s, Christina Aguilera, Britney Spears, Tate McRae, It’s, Tate, McRae, Gene Kelly, growled, choreographing, Jennifer Lopez’s, ” Goebel, Bob Fosse, Justin Bieber’s, , ” SZA, ” — Parris Goebel, influencer, natalieg, I’m Organizations: Nike, Paris, Nike Paris, YouTube, Urban Dance, Rihanna’s, Samoan rugby, Coachella, intuit, of Mirrors Locations: Auckland, Versailles
The relationship between Trump and Putin has long been a source of controversy. AdvertisementWith only a month to go before the presidential election, Donald Trump's relationship with Russian President Vladimir Putin has once again come under the spotlight. In a forthcoming book, journalist Bob Woodward says that the former president and Putin have a closer friendship than previously known. The Ukraine war has already roiled markets for food, oil, gas, and other products, and wider conflict could have an even more devastating impact. If Russian President Vladimir Putin is victorious in Ukraine, it may embolden Chinese leader Xi Jinping to invade Taiwan.
Persons: Trump, Putin, , Donald Trump's, Vladimir Putin, Bob Woodward, Steve Cheung, Woodward, Robert Mueller, Yuri Gripas, Joe Biden, he'd, he's, JD Vance, Volodymyr Zelenskyy, Philip Ingram, Zelenskyy, Kenneth Rogoff, William Pomerantz, Vance, Xi, Ingram, Xi Jinping, Sergei Savostyanov, Jamie Dimon, Dimon, William Reinsch, Kamala Harris, Harris, Pomeranz Organizations: Service, CNN, Washington Post, Putin, Trump, Kremlin, REUTERS, Republicans, International Monetary Fund, Wilson Center, Getty, JPMorgan, CNBC, TV18, Center for Strategic, International Studies, Wall Street Locations: Ukraine, Russia, British, Europe, Washington ,, China, Russian, Taiwan, NATO, Asia, India, Pennsylvania
GM's investor day showcased many of the company's current achievements, but did not provide much insight on strategy," Bernstein analyst Daniel Roeska wrote Wednesday in an investor note. "GM's Investor Day yesterday didn't provide much in the way of sharp shifts in strategy. Through the first half of 2024, GM earned $8.3 billion in EBIT-adjusted and generated $6.4 billion in adjusted automotive free cash flow. GM's 2024 financial guidance includes anticipated capital spending of between $10.5 billion and $11.5 billion. GM's operations in China have experienced a decade-long slide in earnings, and executives said they are discussing restructuring options with their China-based partners.
Persons: Rebecca Cook, Mary Barra, Mark Reuss, Stellantis, Bernstein, Daniel Roeska, Dan Levy, John Murphy, Levy, Paul Jacobson, Jacobson, GM's, we're, Barra, Ultium, Kurt Kelty, " Jacobson, Reuss, that's, you'll, Tesla's Organizations: General Motors, Reuters DETROIT —, GM, Ford Motor, Ford, Barclays, BofA Securities, Wall Street, EV tailwinds, North America, LG Energy, ICE, GMC, China Locations: Detroit, Spring Hill , Tennessee, North, Cruise, China
Federal Reserve policymakers have been breathing easier lately regarding inflation, and that faith that they're closer to achieving their goal will get a key test Thursday. Specifically, the Labor Department's reading is expected to show an annual inflation rate of 2.2% and a monthly gain of just 0.1%, according to the Dow Jones consensus. However, following a much better than expected jobs report for September, Fed officials in recent days have indicated a likely more measured approach to cuts ahead. Details in Thursday's report will matter: Housing inflation has proven to be stubborn, though policymakers still expect lower rent renewals to feed into the data the months progress. The report hits just after the S & P 500 rose to a new record on Wednesday.
Persons: Dow Jones, Lorie Logan, Logan Organizations: Labor Department, Labor, Dallas
Vice President Kamala Harris’ campaign is launching a blitz in Arizona this week, with plans to swamp the battleground state with events and canvassing efforts, all timed around the start of early voting. “All of that, to me, is the type of activity that’s required to win a close race. Campaign officials also say to expect Harris to time events around early voting in many of the battleground states. Those polls also show Democratic Senate candidate Ruben Gallego outperforming Harris in his race against Republican Kari Lake. We know it’s gonna be a close race.
Persons: Kamala Harris ’, Tim Walz, Doug Emhoff, Jill Biden, Harris, Walz, Biden, Deb Haaland, Sen, Alex Padilla, Jasmine Crockett, Maxwell Frost of, we’ve, , Dan Kanninen, Donald Trump, Ruben Gallego outperforming Harris, Republican Kari Lake, Jeff Flake, Jimmy McCain, Republican Sen, John McCain, you’ve, ” Kanninen, Joe Biden, Harris ’, Gina Swoboda, Swoboda, Sean McEnerney, “ We’ve, ” McEnerney, McEnerney, we’ll Organizations: Minnesota Gov, NBC, Tucson, Democratic, Republican, Republicans outpacing Democrats, Independents, Senate, , GOP, Democrats, Trump, Arizona Democratic Party Locations: Arizona, Harris, Minnesota, Phoenix, Yuma, Alex Padilla of California, Jasmine Crockett of Texas, Maxwell Frost of Florida, In Arizona, Cochise County, It’s Arizona
I frequently cover shopping events like Prime Day, Black Friday and Cyber Monday as a writer for NBC Select, so I know how to find deals that are actually worth buying. SKIP AHEAD Best Prime Day sneaker deals | More Prime Day sneaker sales | Best sneaker sales at other retailers | How I picked the best sneaker deals | Why trust NBC Select? Best Prime Day sneaker deals4.4-star average rating from 9,217 reviews on AmazonThese trail running shoes are great for mixed terrain trails because they provide stability and support on all trails. 4.3-star average rating from 7,135 reviews on AmazonNew Balance makes some of our favorite women’s walking shoes, including this pair. Best Prime Day sneaker salesHere are the best Prime Day sneaker sales to know about.
Persons: sneaker, I’ll, Salomon, There’s, TikTok Organizations: NBC, Big Deal, Adidas, Amazon Reviewers, Amazon, Nike, Skechers, Deal, Facebook, Twitter Locations: men’s
After Iran launched approximately 200 ballistic missiles at Israel last week, U.S. military officials discussed options for joining Israel in its retaliation against Iran, according to two U.S. officials familiar with the discussions. The U.S. has long supported Israel with intelligence and that support could continue during Israel’s retaliatory strikes against Iran, the two officials said. Senior U.S. military officials have also discussed conducting very limited strikes against Iranian targets, the two officials said. Strikes inside Iran have been discussed, as have strikes on targets outside Iran, though strikes of any kind are less likely than intelligence sharing, the officials said. And U.S. officials say Israel has made it clear that it is not ruling out a response during the Yom Kippur holiday this week.
Persons: Lloyd Austin, Yoav Gallant, Israel, Gallant, Austin, Hassan Nasrallah, Benjamin Netanyahu, Washington . Austin, Nasrallah, Pat Ryder, ” Ryder, “ We’ve, , Michael “ Erik ” Kurilla Organizations: Defense, Israeli, U.S, Austin, Israel, Senior U.S, Islamic Revolutionary Guards Corps, Iran, Pentagon, United Nations General Assembly, , ” Senior U.S, U.S . Central Command Locations: United States, Iran, Washington, Israel, U.S, Yemen, Syria, Iraq, Beirut, New York, Washington .
President Joe Biden has postponed his overseas trip this week due to Hurricane Milton, according to two sources familiar with the planning. Biden was scheduled to depart for Berlin on Thursday and then travel to Angola in Southern Africa, returning to the U.S. on Oct. 15. "Given the projected trajectory and strength of Hurricane Milton, President Biden is postponing his upcoming trip to Germany and Angola in order to oversee preparations for and the response to Hurricane Milton, in addition to the ongoing response to the impacts of Hurricane Helene across the Southeast," White House Press Secretary Karine Jean-Pierre said in a statement. Residents there are still reeling from the destruction caused by Hurricane Helene last month. Criswell will be in Florida providing guidance and coordinating disaster response to Milton, White House press secretary Karine Jean-Pierre told reporters Monday.
Persons: Joe Biden, Hurricane Milton, Biden, Hurricane Helene, Karine Jean, Pierre, Milton, Donald Trump, Kamala Harris, Helene, Harris, Trump, Deanne Criswell, João Lourenço, , States ’ Organizations: House Press, FEMA, NBC News, Defense Department, White Locations: Hurricane, Berlin, Angola, Southern Africa, Germany, Florida, North Carolina, Georgia, Milton, U.S, States, United States
Prime Big Deal Days is here, offering discounts on running essentials during the 48-hour sale, which is exclusive to Prime members. I frequently cover shopping events like Prime Day, Black Friday and Cyber Monday as a writer for NBC Select, so I know how to find deals that are actually worth buying. SKIP AHEAD Best Prime Day running essentials deals | More Prime Day running essentials sales | Best running essentials sales at other retailers | How I found the best running essentials deals | Why trust NBC Select? How I found the best October Prime Day running essentials dealsAll of my recommendations above are based on NBC Select’s previous coverage and reporting. To round up the best October Prime Day sales, I found discounted products either at their lowest price ever or their lowest price in three months.
Persons: I’ll, , Zoe Malin, They’re, , Lauren Swanson, Harry Rabinowitz, I’m, TikTok Organizations: NBC, Big Deal, Berry, Amazon, New York City, Garmin, Bluetooth, Danish, Facebook, Twitter Locations: New York
So her group is starting to focus more on making connections between climate change and increasingly powerful storms and wildfires, she said. This spring, the class took a trip to the Blue Ridge Mountains to learn about how climate change can impact forests and wildlife. And we definitely see it with the climate crisis.”Moerman views climate denialism among evangelical Christians as a product of misinformation. To combat such ideas, the Evangelical Environmental Network hosts webinars on the science of climate change and how faith connects to climate action. “Some pastors get kind of hung up talking about climate change, but to me, it’s biblical faithfulness 101,” he said in an interview.
Persons: Donald Trump, , Donald Trump —, Trump, Jessica Moerman, Moerman, ” Moerman, Adam Hubert, Hubert, ” Adam Hubert, Hope, , that’s, Jim Inhofe, Mike Huckabee, Caleb Haynes, ” Haynes doesn’t, Haynes, ” Trump, We’ve Organizations: Evangelical Environmental Network, Pew Research Center, White, Trump, Pew Research, Evangelical Environmental, Young, Action, Hope, NBC, Arkansas Gov, Volunteers, Christian Locations: Greensboro , North Carolina, Oklahoma, Arkansas, Nashville , Tennessee, , Ohio, Montana
Honeywell CEO Vimal Kapur showed investors the company is finally serious about remaking itself — so we're upgrading the stock. It's an aggressive move by management, given that advanced materials make up roughly 10% of overall sales. "[These are] factors that may drive a modest upward re-rating to Honeywell's stock." "They said they wanted to reshuffle their portfolio," Jim said Tuesday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Vimal Kapur, Jim Cramer, Honeywell divesting, Kapur, Cowen, Jim, Jim Cramer's Organizations: Honeywell, Club, Barclays, Carrier, Air Products, CNBC, Getty
An oil pumpjack (L) operates as another (R) stands idle in the Inglewood Oil Field on January 28, 2022 in Los Angeles, California. Oil prices edged lower in early Asian trading hours on Tuesday as traders booked profits after prices rallied to their highest in over a month on Monday amid fears that the Middle East could be on the brink of a region-wide war. Israel has sworn to retaliate and is weighing its options, with Iran's oil facilities considered a possible target. However, some analysts believe that an attack on Iranian oil infrastructure is unlikely and have warned that oil prices could face considerable downward pressure if Israel focuses on any other target. U.S. crude oil inventories are expected to rise by 1.9 million barrels in the week ended Oct. 4, according to a preliminary Reuters poll.
Persons: Israel, Hurricane Milton Organizations: Inglewood Oil Field, . West Texas, Organization of Petroleum, ANZ Bank, American Petroleum Institute, Energy, Administration Locations: Inglewood, Los Angeles , California, Middle, Iran, Haifa, Israel, Lebanon, Gaza, Hurricane, Florida, U.S . Gulf of Mexico, .
London CNN —Global oil prices have spiked in recent days as the conflict in the Middle East has reached fever pitch. They could rise yet further if Israel’s widening war embroils the vital Strait of Hormuz off Iran’s southern coast. About one-fifth of the world’s global oil trade passes through the strait every day, notes Simone Tagliapietra, a senior fellow at Brussels-based think tank Bruegel. It also accounts for about a quarter of the world’s daily trade in liquefied natural gas. But if oil trade through the critical Strait of Hormuz wobbles, prices could soar above $100 a barrel, according to research firm ClearView Energy Partners, sending gasoline prices surging.
Persons: Simone Tagliapietra, Hassan Nasrallah, Yoav Gallant, ” Tagliapietra, Brent, Richard Bronze, Organizations: London CNN —, US Energy Information Administration, Israel’s, CNN Sunday, Israel . West Texas Intermediate, ClearView Energy Partners Locations: Hormuz, Brussels, Iran, Israel, Lebanon, United States, China
Crude oil futures fell about 2% on Tuesday, as the rally on geopolitical risk took a pause while the market waits for Israel to strike back against Iran. "Oil can keep ascending only for so long purely based on perceptions and not actual supply disruption," Tamas Varga, an analyst at oil broker PVM, said in a Tuesday note. Oil prices have surged about 13% through Monday's close since Iran fired around 180 ballistic missiles at Israel last week, raising fears that Israel might retaliate by hitting Iran's crude industry. ET:The market was also disappointed that Chinese officials did not announce any new stimulus plans at a press briefing Tuesday. In early September, oil prices hit their lowest level since December 2021.
Persons: Tamas Varga, Israel, Phil Flynn Organizations: Iran, Price Futures Locations: Israel, Iran, China
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