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July 21 (Reuters) - U.S. energy firms this week reduced the number of oil and natural gas rigs operating for a second week in a row, including the deepest oil rig cut since early June, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday. U.S. oil rigs fell by seven to 530 this week, their lowest since March 2022, while gas rigs dropped by two to 131. Baker Hughes said drillers cut four rigs in the Permian in West Texas and eastern New Mexico, the nation's biggest shale oil formation, bringing the total down to 333 rigs. They also cut two rigs in the Eagle Ford bringing the total in that South Texas shale basin down to 57 rigs. U.S. shale oil and gas production will fall in August for the first time since December, the U.S. Energy Information Administration (EIA) said in its monthly Drilling Productivity Report this week.

Persons: Baker Hughes, Scott DiSavino, Marguerita Choy Organizations: drillers, Eagle Ford, Halliburton, U.S . Energy Information Administration, Thomson Locations: West Texas, New Mexico, South Texas, U.S

☆ 3 travel agents for the world's wealthiest people share exactly where the 1% are traveling this summer, from Botswana to the Côte d'Azur
▼ + stars: | 2023-07-20 | by ( Mark Ellwood | ) www.businessinsider.com time to read: +9 min

Summer travel can be done on a budget, but for the world's wealthiest people, no expense is spared. Top travel agents shared the hottest spots they're seeing this year, from Paros to the Côte d'Azur. Instead, look to the elite group of agents who help wrangle those jaunts and cater to the wealthiest, most demanding vacationers. Courtesy of John CliffordJohn Clifford in San Diego runs International Travel Management and has expertise with LGBTQ+ travel. Insider asked these travel professionals to share the secrets of where and how the richest 1% are vacationing in summer 2023.

Persons: they've, Jules Maury, Jules Maury Jules Maury, Scott Dunn, John Clifford, John Clifford John Clifford, Edward Granville ., Edward Granville Edward Granville, Granville, Maury, I've, Clifford, he's, Côte, they're, We've, Rod, it's, Paros, It's, Cosme, Parilio, Avant, she's, she'd, Milos Organizations: Côte, Service, San Diego, Travel Management, d'Azur, Porto Heli, Italy, Avant Mar, HBO, Domenico Palace Locations: Paros, Wall, Silicon, San, Red Savannah, London, COVID, Europe, Cannes, France, Africa, Botswana, Namibia, Botswana's Okavango Delta, Kenya, Porto, Greece, Italy, Spain, Athens, Amalfi Coast, Rome, Sicily, Domenico

Brent futures rose $1.13, or 1.4%, to settle at $79.63 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $1.60, or 2.2%, to settle at $75.75. Higher interest rates increase borrowing costs and can slow economic growth and reduce oil demand. Energy traders expect "the oil market will remain tight as Russian shipments drop and as China prepares to provide more support to households," said Edward Moya, senior market analyst at data and analytics firm OANDA. Looking ahead, the oil market is waiting for U.S. oil inventory data from the American Petroleum Institute (API), an industry group, on Tuesday and the EIA on Wednesday. Analysts in a Reuters poll forecast a 2.4-million barrel draw from U.S. crude stocks during the week ended July 14.

Persons: Edward Moya, Kristalina Georgieva, Gelber, Natalie Grover, Stephanie Kelly, Andrew Hayley, David Holmes, Jan Harvey, Jonathan Oatis Organizations: . Federal, U.S, West Texas, ING, Energy, Monetary, U.S . Energy Information Administration, American Petroleum Institute, Associates, World Meteorological Organization, Thomson Locations: China, U.S, Europe, Asia, London, New York, Beijing

Summary U.S. dollar falls to 15-month low against basket of currenciesU.S. oil output to decline in August - EIA outlookUpcoming - U.S. oil inventory data from API and EIANEW YORK, July 18 (Reuters) - Oil prices climbed more than 1% on Tuesday as a weaker U.S. dollar and expected decline in U.S. output outweighed softer-than-expected Chinese economic data. Higher interest rates increase borrowing costs and can slow economic growth and reduce oil demand. CRUDE DEMAND STILL A CONCERNComments that global economic growth activity is slowing helped keep crude price gains in check. In the U.S., shale oil production will likely decline in August for the first time since December, projections from the EIA show. Global supplies are expected to see a boost from the resumption of output at two of three Libyan fields that were shuttered last week.

Persons: Brent, Kristalina Georgieva, Jun Rong Yeap, Natalie Grover, Stephanie Kelly, Andrew Hayley, Jason Neely, David Holmes, Jan Harvey Organizations: U.S, West Texas, U.S ., . Federal, American Petroleum Institute, U.S . Energy Information Administration, Monetary Fund, IG, Thomson Locations: China, U.S, Singapore, London, New York, Beijing

☆ Power demand breaks record in Texas again during heat wave
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +2 min

July 18 (Reuters) - Power demand in Texas hit a record high for a second straight day on Tuesday as homes and businesses cranked up air conditioners to escape a brutal heat wave. The Electric Reliability Council of Texas (ERCOT), which operates the grid for more than 26 million customers representing about 90% of the state's power load, has said it has enough resources available to meet soaring demand. That is the fifth record high in ERCOT this summer. One megawatt can power around 1,000 U.S. homes on a typical day, but only about 200 homes on a hot summer day in Texas. Rising economic and population growth has boosted electricity use in Sun Belt states like Texas and Arizona even though overall U.S. power demand is projected to ease in 2023 after hitting a record high in 2022.

Persons: ERCOT, Scott DiSavino, Leslie Adler, Sonali Paul, Chris Reese Organizations: Reliability, of Texas, Sun, Thomson Locations: Texas, ERCOT, Houston, Dallas, Arizona

☆ US Republican 2024 hopefuls defend Ukraine support at Iowa conservative forum
▼ + stars: | 2023-07-14 | by ( James Oliphant | ) www.reuters.com time to read: +4 min

[1/2] Former U.S. President and Republican presidential candidate Donald Trump attends a campaign event in Council Bluffs, Iowa, U.S., July 7, 2023. Senator Tim Scott of South Carolina both argued that it remains vital for the United States to push back against Russian aggression. The United States has provided billions of dollars worth of weapons to Ukraine following Russia's February 2022 invasion. Pence appeared visibly frustrated by Carlson's assertions that the United States lacked a national interest in the Ukraine war. The ultimate goal for the United States, DeSantis added, should be "a sustainable peace in Europe," but he was not specific about how achieve that.

Persons: Donald Trump, Scott Morgan, Joe Biden, Tucker Carlson, Mike Pence, Tim Scott of, Vladimir Putin, Pence, Scott, Ron DeSantis, Putin, DeSantis, Vivek Ramaswamy, Trump, Biden, Nikki Haley, Carlson, Iowa's, James Oliphant, Ross Colvin, Will Dunham Organizations: U.S, Republican, REUTERS, Republican U.S, Ukraine, Family, Democratic, former Fox News, United, NATO, America, U.S ., Biden, Trump, Reuters, Republicans, Capitol, Thomson Locations: Bluffs , Iowa, U.S, Iowa, Russia, Des Moines, Tim Scott of South Carolina, United States, Ukraine, United, Florida, Europe

☆ Texas power use breaks record for second day in heat wave
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +1 min

July 13 (Reuters) - Demand for power in Texas hit a record high for a second day in a row on Thursday as homes and business kept air conditioners cranked up during a lingering heat wave. The Electric Reliability Council of Texas (ERCOT), which operates the grid for more than 26 million customers representing about 90% of the state's power load, has said it has enough resources available to meet soaring demand. After setting 11 peak demand records last summer, ERCOT said usage hit a preliminary 81,406 megawatts (MW) on Thursday, topping the record hit one day earlier, of 81,351 MW. One megawatt can power around 1,000 U.S. homes on a typical day, but only about 200 homes on a hot summer day in Texas. Meteorologists at AccuWeather forecast high temperatures in Houston, the biggest city in Texas, would hit 100 degrees Fahrenheit (37.8 Celsius) almost every day from July 13-19.

Persons: ERCOT, Scott DiSavino, Harshit Verma, Sandra Maler, Leslie Adler Organizations: Reliability, of Texas, Thomson Locations: Texas, Houston, Dallas

A Venture Global LNG spokesperson did not comment on the Shell and BP claims. Shell and BP missed out on billions of dollars in sales that went to Venture Global LNG because they were unable to get their contracted fuel, one of the people familiar with the arbitration filings said. Another Venture Global LNG contract customer, Spanish energy firm Repsol SA (REP.MC), has asked U.S. regulators to release confidential records that would shed light on the plant's startup. Founded by a former energy lawyer and investment banker, Venture Global LNG has emerged as a market force with its ability to obtain financing and rapidly build export plants. The contracts were tied to Calcasieu Pass LNG, the first of Venture Global LNG's three planned facilities.

Persons: Costas Baltas, Ira Joseph, Marwa Rashad, Curtis Williams, Scott DiSavino, Gary McWilliams, David Gregorio Our Organizations: REUTERS, Top, Shell, BP, U.S, Venture Global LNG, Venture Global, London Court, International, Edison SpA, Repsol SA, Columbia University's Center, Global Energy, Thomson Locations: Bermuda, Revithoussa, Greece, Europe, Calcasieu, London, Houston

☆ Amazon charts its own course on A.I., leaning on its strengths in cloud and e-commerce
▼ + stars: | 2023-07-11 | by ( Paulina Likos | ) www.cnbc.com time to read: +10 min

AI in advertising Amazon is not only differentiating its gen AI strategy by leveraging the cloud, but it's also incorporating AI in e-commerce to support its ad business. Amazon Prime Day Amazon Prime Day, the global shopping event that attracts consumers seeking huge cost-saving deals, on a variety of products will be held July 11 and 12 in 24 countries. Coupled with the cloud, e-commerce is the other big piece of what Amazon is all about. The 48-hour event is expected to bring in $8 billion in U.S. e-commerce sales, according to data by Insider Intelligence. Still, Insider Intelligence data shows Amazon Prime Day e-commerce sales will surpass that of competing retailers.

Persons: Andy Jassy, Scott Devitt, Devitt, Andrew Lipsman, it's, Lipsman, Sellers, Gene Munster, Jim Cramer's, Jim Cramer, Jim Organizations: Amazon Web Services, CNBC, Amazon, Microsoft, Nvidia, AWS, Insider Intelligence, Google, Deepwater Asset Management, Intelligence, Amazon CNBC Locations: U.S

[1/3] Debris from overnight flooding along Cedar Pond Brook is pictured in Stony Point, New York, U.S., July 10, 2023. "Widespread, heavy rainfall capable of producing considerable to catastrophic flooding is beginning to unfold, road washouts are ongoing, and are expected to increase in extent and severity over the course of the day," the weather service said on Monday. On Monday morning, Amtrak suspended passenger train service between Albany and New York after flooding damaged tracks. "So that's basically what our priority is today, to try to get to them and open up these major arteries." About two dozen state roads were closed as life-threatening flooding spread across much of the state from the Massachusetts state line north to the Canadian border, Vermont State Police said.

Persons: Mike Segar, Boston's Logan, Steven Neuhaus, ABC's, Neuhaus, Melissa Roberts, Kathy Hochul, Irene, Phil Scott, Jeannette Haight, Brendan O'Brien, Rich McKay, Ed Osmond, Jonathan Oatis Organizations: REUTERS, National Weather Service, New York's LaGuardia, Amtrak, U.S . Military Academy, Orange County . New, Vermont State Police, Burlington, Media, Thomson Locations: Stony Point , New York, U.S, Eastern New York, Boston, Western Maine, Albany, New York, Orange County , New York, Highland Falls, Fort Montgomery, New York City, Orange County ., Ontario County, Vermont, New England, Massachusetts, Andover, North Carolina, Chicago, Atlanta

☆ BP settles US natgas market manipulation case for $10.75 million
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +1 min

The U.S. Federal Energy Regulatory Commission (FERC) alleged that BP violated the Natural Gas Act by manipulating the next-day gas market at Houston Ship Channel from mid-September through Nov. 30, 2008. BP paid a civil penalty of $24,356,686 in December 2020 and disgorgement of unjust profits of $250,295 in January 2021 in the case. FERC said under the settlement BP will not seek return of the $250,295 of disgorgement it has paid. The case related to actions by BP traders to take advantage of market dislocations around the time Hurricane Ike smashed into the Houston area in September 2008. FERC's Office of Enforcement alleged BP traders made uneconomic physical gas sales to suppress the Houston Ship Channel Gas Daily index and boost the value of BP's financial position.

Persons: Ike, Scott DiSavino, Bill Berkrot Organizations: Bp, BP, U.S . Federal Energy Regulatory Commission, Houston Ship Channel, U.S ., Appeals, Fifth Circuit, FERC, U.S . Court, Federal, FERC's, Enforcement, Houston Ship Channel Gas, Thomson Locations: U.S, Houston

☆ Toxic algae that can cause lung infections and neurological disorders is taking over a giant lake in Florida, and ecologists say the bloom will only grow
▼ + stars: | 2023-07-09 | by ( Katie Hawkinson | ) www.businessinsider.com time to read: +2 min

Florida's Lake Okeechobee is already half full with toxic algae, and the bloom will only grow. That's because Lake Okeechobee is already half-full with a bright green, toxic algae that researchers say will only grow as algae season continues on through the summer. The algae can cause several health complications, including lung infections, organ damage, and neurological disorders, The New York Times reports. The algae also thrives among the fertilizer and manure that runs into the lake from nearby crops. Finding a solution to this toxic bloom has been a challenge.

Persons: Rick Scott Organizations: Service, New York Times, Times Locations: Okeechobee, Florida, Lake, Lake Okeechobee

Companies Equinor ASA FollowMorningstar Inc FollowNEW YORK, July 7 (Reuters) - Oil prices climbed about 2% to a six-week high on Friday as supply concerns outweighed fears that further interest rate hikes could slow economic growth and reduce demand for oil. "OPEC+ production cuts are expected to tighten the market, driving supply deficits in the second half of 2023, supporting higher oil prices," analysts at U.S. financial services company Morningstar said in a note. OPEC will likely maintain an upbeat view on oil demand growth for next year, sources close to OPEC said. Russia's latest pledge to reduce oil exports will not require a similar cut in production, a government source told Reuters. Higher borrowing costs could slow economic growth and reduce oil demand.

Persons: Brent, WTI, Morningstar, Russia's, Vortexa, James Knightley, Janet Yellen, Shadia Nasralla, Sudarshan, Jason Neely, David Evans, David Gregorio Our Organizations: ASA, Morningstar, . West Texas, Organization of, Petroleum, Reuters, Oil, Equinor ASA, U.S . Federal Reserve, ING, U.S . Energy Information Administration, U.S, Treasury, Thomson Locations: Brent, Saudi Arabia, Russia, OPEC, Saudi, Ain, Norway, Mexico, China, Europe, Ukraine, Germany, London, Singapore

CNN —An 18-year-old woman and a 20-year-old man were killed and 28 others injured in a mass shooting at a Baltimore block party, officials said. Nine people were transported from the scene to hospitals and 20 people walked into hospitals in the area. The 18-year-old was pronounced dead on the scene and the 20-year-old was pronounced dead at a hospital, police said. Police received multiple calls after 12:30 a.m., and arrived to find one woman dead and another nine people suffering from gunshot wounds, according to Baltimore Police Acting Commissioner Richard Worley. There is no information on suspects or a motive at this time, but investigators are “working an extensive crime scene,” Worley said.

Persons: Adams Cowley, Michael Schwartzberg, Richard Worley, ” Worley, Baltimore Mayor Brandon Scott, ” Scott, “, ”, CNN’s Victor Blackwell, Amara Walker, Scott, ” “ Organizations: CNN, Adams Cowley Shock Trauma, University of Maryland Medical Center, University of Maryland Medical, Police, Baltimore Police, Baltimore Mayor Locations: Baltimore, Brooklyn

While there has been some scrambling to amend contracts linked to Libor over the past month, the transition was well telegraphed and no major issues are expected, loan and derivatives market participants and lawyers said in interviews. "I feel like it has been two to three years now that we have been re-papering all the legacy loans and legacy securities we purchased tied to Libor," said Scott DiMaggio, co-head of fixed income, at Alliance Bernstein. Friday at 11:55 a.m. British Summer Time (1055 GMT) marked the last publication for the 1-month, 3-month and 6-month U.S.-dollar Libor interest rates. Other U.S. dollar tenors were largely phased out for new contracts at the end of 2021 along with Libor rates linked to other currencies. Derivatives markets based on Libor had already mostly moved to new benchmarks without major disruption, while some corners of the loan markets, such as syndicated loans, have been busy with contract amendments, market participants said.

Persons: Scott DiMaggio, Alliance Bernstein, Shah, Federal Reserve Bank of New York's, Libor, Tal Reback, Gennadiy Goldberg, John McCrank, Gertrude Chavez, Dreyfus, Alden Bentley, Stephen Coates Organizations: YORK, Alliance, Regulators, Federal Reserve Bank of New, U.S, Britain's, Authority, Libor, TD Securities, Thomson Locations: London, Iran, U.S, New York

admissions programs cannot be reconciled with the guarantees of the equal protection clause,” Chief Justice John G. Roberts Jr. wrote for the majority. The court had repeatedly upheld similar admissions programs, most recently in 2016, saying that race could be used as one factor among many in evaluating applicants. The university responded that its admissions policies fostered educational diversity and were lawful under longstanding Supreme Court precedents. Writing for the majority, Justice Anthony M. Kennedy said that courts must give universities substantial but not total leeway in devising their admissions programs. The Texas decision essentially reaffirmed Grutter v. Bollinger, a 2003 decision in which the Supreme Court endorsed holistic admissions programs, saying it was permissible to consider race to achieve educational diversity.

Persons: “, John G, Roberts, ”, Sonia Sotomayor, Edward Blum, Antonin Scalia, Elena Kagan, Justice Anthony M, Kennedy, Ruth Bader Ginsburg, Stephen G, Breyer, Justice Sotomayor, Justice Kennedy, Brett M, Kavanaugh, Ginsburg, Amy Coney Barrett, Justice Breyer, Justice Ketanji Brown Jackson, Justice Jackson, Grutter, Bollinger, Sandra Day O’Connor, Clarence Thomas Organizations: Harvard, University of North, Civil, Asian, Fair, University of Texas Locations: University of North Carolina, North Carolina, Austin, Texas

NEW YORK, June 28 (Reuters) - Oil prices climbed about 3% on Wednesday as the second straight weekly draw from U.S. crude stockpiles was bigger than expected, offsetting worries that further interest rate hikes could slow economic growth and reduce global oil demand. U.S. West Texas Intermediate (WTI) crude rose $1.86, or 2.8%, to settle at $69.56, narrowing Brent's premium over WTI to its lowest since June 9. The U.S. Energy Information Administration (EIA) said crude inventories dropped by 9.6 million barrels in the week ended June 23, far exceeding the 1.8-million barrel draw analysts forecast in a Reuters poll and also much bigger than the 2.8 million barrel draw a year earlier. This report could be a bottom (for oil prices)," said Phil Flynn, an analyst at Price Futures Group. Investors remained cautious that interest rate hikes could slow economic growth and reduce oil demand.

Persons: Brent, Phil Flynn, Jerome Powell, Flynn, Powell, Christine Lagarde, Gelber, Shariq Khan, Alex Lawler, Mohi Narayan, Emma Rumney, Mark Potter, David Gregorio, Cynthia Osterman Organizations: YORK, . West Texas, U.S . Energy Information Administration, Price Futures Group, Investors, . Federal, European Central Bank, Associates, Organization of, Petroleum, Thomson Locations: WTI, Russia, Saudi, China, Bengaluru, London, New Delhi

U.S. West Texas Intermediate (WTI) crude rose $1.63, or 2.45%, to $69.33. The U.S. Energy Information Administration (EIA) said crude inventories dropped by 9.6 million barrels in the week ended June 23, far exceeding the 1.8-million barrel draw analysts forecast in a Reuters poll and also much bigger than the 2.8 million barrel draw a year earlier. This report could be a bottom (for oil prices)," said Phil Flynn, an analyst at Price Futures Group. Investors remained cautious that interest rate hikes could slow economic growth and reduce oil demand. Analysts at energy consulting firm Gelber and Associates said that decline in backwardation suggested "diminishing worries over potential supply shortages."

Persons: Brent, Phil Flynn, Jerome Powell, Flynn, Powell, Christine Lagarde, Gelber, backwardation, Shariq Khan, Alex Lawler, Mohi Narayan, Emma Rumney, Mark Potter, David Gregorio Our Organizations: YORK, . West Texas, U.S . Energy Information Administration, Price Futures Group, Investors, . Federal, European Central Bank, Associates, Organization of, Petroleum, Thomson Locations: WTI, Russia, OPEC, Saudi, China, Bengaluru, London, New Delhi

NEW YORK, June 28 (Reuters) - Oil prices rose about 2% on Wednesday as a bigger-than-expected drop in U.S. crude stockpiles offset worries that further interest rate hikes could slow economic growth and reduce global oil demand. The U.S. Energy Information Administration (EIA) said crude inventories dropped by 9.6 million barrels in the week ended June 23, putting stockpiles down for a second week in a row. That was much bigger than the 1.8 million barrel draw analysts forecast in a Reuters poll and compares with a decline of 2.8 million barrels in the same week last year and a five-year (2018-2022) average decrease of 7.8 million barrels. This report could be a bottom (for oil prices)," Flynn said. Oil prices rose despite worries about interest rate hikes that could slow economic growth and reduce oil demand.

Persons: Brent, Phil Flynn, Flynn, Christine Lagarde, Shariq Khan, Alex Lawler, Mohi Narayan, Emma Rumney, Mark Potter Organizations: YORK, U.S, West Texas, U.S . Energy Information Administration, American Petroleum Institute, Price Futures, European Central Bank, Thomson Locations: Bengaluru, London, New Delhi

☆ Better valuations are ahead for bank stocks following stress test results: Christopher Marinac
▼ + stars: | 2023-06-28 | 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 EmailBetter valuations are ahead for bank stocks following stress test results: Christopher MarinacChristopher Marinac, Janney Montgomery Scott director of research, joins 'Fast Money' to discuss the results of the Federal Reserve's banking stress test and what that means for bank stocks moving forward.

Persons: Christopher Marinac Christopher Marinac, Janney Montgomery Scott Organizations: Federal

☆ Texas power use breaks record in heat wave -ERCOT
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

June 27 (Reuters) - Power use in Texas hit a preliminary all-time high on Tuesday as homes and businesses cranked up air conditioners to escape a three-week-old heat wave, according to data from the state's power grid operator. The high temperature in Houston, the biggest city in Texas, hit a high of 100 degrees Fahrenheit (38 Celsius) on Tuesday, Weather.com reported. The Electric Reliability Council of Texas (ERCOT) said power use reached a preliminary 80,828 megawatts (MW) at 6 p.m. CST, topping the grid's previous record of 80,148 MW set on July 20, 2022. ERCOT, which operates the grid for more than 26 million customers representing about 90% of the state's power load, said it has enough resources to meet current demand. Although U.S. power demand is projected to ease in 2023 after hitting a record high in 2022, rising economic and population growth is expected to keep boosting electric use in Sun Belt states like Texas.

Persons: Weather.com, ERCOT, Ashitha Shivaprasad, Harshit Verma, Scott DiSavino, Leslie Adler, David Gregorio, Cynthia Osterman Organizations: Reliability, of Texas, Texans, Sun, Reuters Graphics Reuters, Thomson Locations: Texas, Houston, Bengaluru

☆ Kourtney Kardashian and Travis Barker reveal sex of baby on the way
▼ + stars: | 2023-06-25 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +1 min

CNN —Kourtney Kardashian and Travis Barker drummed up the reveal of their baby’s sex in true “Kravis” fashion. In a video shared to the couple’s Instagram pages on Sunday, Barker is seen sitting at his drum set with Kardashian proudly showing off her baby bump while sitting on his lap at what appeared to be a backyard gender reveal party. Barker provided a drumroll seconds before the big reveal, and the couple embraced with a kiss when blue confetti shot out to reveal they’re expecting a baby boy. Kardashian shares three children – Mason, Penelope and Reign – with her former longtime partner Scott Disick. Barker is father to Landon, daughter Alabama and stepdaughter Atiana, whom he shares with ex-wife Shanna Moakler.

Persons: CNN — Kourtney Kardashian, Travis Barker, “ Kravis ”, Barker, Kardashian, she’s, “ Travis I’m, ”, ” Kardashian, Domenico Dolce, Stefano, – Mason, Penelope, Scott Disick, Landon, Alabama, Atiana, Shanna Moakler Organizations: CNN

☆ Texas grid operator again forecasts record power use amid heat wave
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +2 min

June 21 (Reuters) - The Texas power grid operator again projected electric use would break a record - this time on Wednesday - after forecast usage fell short of the all-time high on Tuesday as consumers heeded calls to conserve energy during an early summer heat wave. After setting 11 new peak demand records last summer, the Electric Reliability Council of Texas (ERCOT) projected peak demand would break records again next week when extreme heat returns to the Lone Star State. ERCOT operates the grid for more than 26 million customers representing about 90% of the state's power load. ERCOT forecast power use would rise from 79,203 megawatts (MW) on Tuesday to 80,458 MW on Wednesday, which would top the grid's current record peak of 80,148 MW on July 20, 2022. Next week, ERCOT forecast demand would reach 82,080 MW on June 26 and 83,555 MW on June 28.

Persons: Scott DiSavino, Conor Humphries Organizations: Electric, of Texas, Lone Star State, ERCOT, Texans, Thomson Locations: Texas, Houston

NEW YORK, June 20 (Reuters) - Oil futures fell about 2% in choppy trading on Tuesday on forecasts for slower growth of oil demand in China, the world's second-biggest oil consumer, and disappointment with the size of cuts in China's key lending rates. "Oil traders may need to see a materialised strong economic rebound in China to improve their outlook on oil demand," said Tina Teng at CMC Markets in Auckland. Higher interest rates ultimately increase borrowing costs for consumers, which could reduce oil demand by slowing economic growth. A stronger dollar makes crude more expensive for holders of other currencies, which can reduce oil demand. On the supply side, Iran's crude exports and oil output have hit new highs this year despite U.S. sanctions.

Persons: Brent, Edward Moya, Tina Teng, Thomas Barkin, Scott DiSavino, Noah Browning, Katya Golubkova, Andrew Hayley, David Goodman, Matthew Lewis Organizations: YORK, . West Texas, CMC Markets, China, Administration, Customs, . Federal Reserve, Richmond Fed, U.S ., Organization of, Petroleum, Thomson Locations: China, U.S, Auckland, Russia, New York, London, Tokyo, Beijing

☆ Texas grid operator urges power conservation during heat wave
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +2 min

June 20 (Reuters) - The Texas power grid operator urged homes and businesses to conserve electricity on Tuesday evening to prevent power reserves from falling short as consumers crank up their air conditioners to escape the first heat wave of the summer season. ERCOT operates the grid for more than 26 million customers representing about 90% of the state's power load. Although controlled outages are one of the most extreme actions a grid operator could take to maintain reliability, ERCOT said "controlled outages are not needed at this time." ERCOT forecast power use would reach 81,348 megawatts (MW) on Tuesday before slipping to 80,991 MW on Wednesday. Day-ahead power prices for Tuesday settled around $2,500 per MWh at 5 p.m. local time in several zones, including Houston and Dallas, according to the ERCOT website.

Persons: ERCOT, Seher Dareen, Brijesh Patel, Scott DiSavino, Kim Coghill, Will Dunham, Mark Potter Organizations: Electric, of Texas, Texans, Thomson Locations: Texas, Houston, Dallas, U.S, Bengaluru, New York

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