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☆ Oil prices steady, with investors focusing on Fed decision
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: +2 min

Oil prices steadied on Wednesday, after rising in the previous two sessions, as investors await the U.S. Federal Reserve's anticipated interest rate cut, with the potential for more violence in the Middle East supporting the market. "Markets have calmed down as concerns over hurricane damage and escalating tensions in the Middle East have been factored in," said Mitsuru Muraishi, an analyst at Fujitomi Securities. "Now, investors are focusing on the Fed's rate cuts which could revitalize U.S. fuel demand and weaken the dollar," he said, predicting that oil prices are likely to maintain a bullish tone after Brent hit its lowest since 2021 last week. Traders kept bets the Fed will start an expected series of interest rate cuts with a half-percentage-point move downward on Wednesday, an expectation that may itself put pressure on central bankers to deliver just that. Oil stockpiles rose by 1.96 million barrels in the week ended Sept. 13, according to market sources citing the API figures, but gasoline and distillate stocks both rose by about 2.3 million barrels.

Persons: Hurricane Francine, Mitsuru Muraishi, Brent, Biden Organizations: U.S, U.S . Federal, Brent, Fujitomi Securities, Traders, Strategic Petroleum Reserve, American Petroleum Institute, Reuters, U.S . Energy Locations: U.S ., U.S, Israel, Lebanon, Beirut

One out of 4 of the 31,000 homeowners in the coastal parish live there without homeowners insurance — one of the highest percentages in the United States. Across the country, 13.4% of homeowners — about 1 in 8 — are unprotected by homeowners insurance, according to an NBC News analysis of new Census Bureau data. It’s a double-edged sword.”The Census Bureau data shows how many homeowners pay less than $100 — or nothing at all — for homeowners insurance. According to the Census Bureau survey, which was taken in 2023, 20.8% of homeowners without mortgages also lack meaningful homeowners insurance. Among mortgage-holders, 8.5% don’t have meaningful homeowners insurance — and while banks require owners with mortgages to have homeowners insurance, gaps in coverage do happen.

Persons: Hurricane Francine, “, ”, Shannon Martin, you’re, Martin, ” Martin, Mark Friedlander, ” Friedlander, There’s, Daryl Fairweather, Redfin’s, ” Fairweather Organizations: NBC, Bankrate, Insurance Information Institute, “ Insurance Locations: Louisiana’s Terrebonne Parish, United States

☆ Oil extends gains on U.S. output concerns, expected drop in stockpiles
▼ + stars: | 2024-09-17 | by ( ) www.cnbc.com time to read: +1 min

Oil prices extended gains on Tuesday as the market eyed U.S. output concerns in the aftermath of Hurricane Francine and expectations of lower U.S. crude stockpiles. The market is keeping a close watch on the upcoming decision by the U.S. Federal Reserve on the interest rate cut. A lower interest rate will reduce the cost of borrowing and can potentially lift oil demand by supporting economic growth. "Growing expectations of an aggressive rate cut boosted sentiment across the commodities complex," said ANZ analysts in a note, adding that ongoing supply disruptions also supported oil markets. China's oil refinery output fell for a fifth month in August amid declining fuel demand and weak export margins, government data showed on Saturday.

Persons: Hurricane Francine Organizations: Brent, Federal, U.S . Bureau of Safety, U.S . Federal Reserve, ANZ, Investors Locations: U.S . Gulf, Mexico, U.S, China

☆ U.S. crude oil trades above $70 per barrel as Gulf of Mexico production recovers
▼ + stars: | 2024-09-17 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

U.S. crude oil traded above $70 per barrel on Tuesday, as production in the Gulf of Mexico is still in recovery mode after Hurricane Francine. More than 200,000 barrels per day remained offline in the Gulf as of Monday, according to Bureau of Safety and Environmental Enforcement. Production from undamaged facilities will be brought back online immediately after checks have been completed, according to the agency. The central bank is widely expected to lower rates, though Wall Street is divided on the magnitude of the cut. U.S. crude oil is down more than 13% this quarter while Brent has fallen nearly 16% as demand slows in China, the world's largest crude importer, and OPEC+ plans to increase production in December.

Persons: Francine, Brent Organizations: of Safety, Environmental Enforcement, Federal Reserve Locations: Gulf, Mexico, China, OPEC

☆ Potential Tropical Cyclone 8 brings heavy rainfall to the Mid-Atlantic with millions under flood watch
▼ + stars: | 2024-09-16 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Kathryn-Prociv.Jpg | Kathryn Prociv | ) www.nbcnews.com time to read: +3 min

An area of heavy rain and thunderstorms off the North Carolina and South Carolina coastlines Monday morning, designated Potential Tropical Cyclone 8 (or PTC 8 for short), is the next potential Atlantic system that may affect the continental United States. Meanwhile, Wilmington, North Carolina recorded a 60mph wind gust earlier on Monday morning. Minor storm surge of 1 to 3 feet is forecast from South Santee River, South Carolina to Oregon Inlet, North Carolina, and along the Neuse, Bay, Pamlico and Pungo Rivers in North Carolina. Six million people are under a Flood Watch from northeast South Carolina up through central North Carolina. For interior North Carolina 2 to 4 inches, with locally higher amounts up to 6 inches, could fall through Tuesday.

Persons: Hurricane Francine, Gordon Organizations: National Weather Service, Carolina, NOAA, North Carolina ., Flood Locations: North Carolina, South Carolina, United States, Charleston , South Carolina, Wilmington, Carolina Beach , North Carolina, Louisiana, Carolina Beach, Pan, , North Carolina, Wrightsville Beach , North Carolina, Wilmington , North Carolina, Charleston, Myrtle Beach, Carolina, Virginia , Maryland, Delaware , New Jersey, New York, South Santee River , South Carolina, Oregon, Pungo Rivers, Myrtle Beach , Wilmington , Cape Hatteras, Raleigh, Virginia

☆ Oil prices inch up on Fed rate cut outlook
▼ + stars: | 2024-09-16 | by ( ) www.cnbc.com time to read: +2 min

Oil prices edged up in early trade on Monday amid expectations of a U.S. interest rate cut this week, though gains were capped by U.S. supply resumptions following Hurricane Francine and weaker China data. Brent crude futures for November were up 15 cents, or 0.2% at $71.76 a barrel at 0015 GMT. U.S. crude futures for October were up 23 cents, or 0.3%, at $68.88 a barrel. Still, nearly a fifth of crude oil production and 28% of natural gas output in the Gulf of Mexico remain offline in the hurricane's aftermath. A key factor that will dominate the market this week is how aggressive a rate cut the U.S. Federal Reserve will deliver following its Sept. 17-18 meeting.

Persons: Francine, Donald Trump, Benjamin Netanyahu, Israel Organizations: Brent, U.S . Federal, FedWatch, ANZ, Republican Locations: Tatarstan, Russia, U.S, China, Mexico, Gulf, Florida, Iran, Israel

☆ Oil prices extend recovery rally to cap volatile week
▼ + stars: | 2024-09-13 | by ( ) www.cnbc.com time to read: +2 min

Brent crude futures rose by 34 cents, or 0.5%, to $72.31 per barrel by 0016 GMT. U.S. West Texas Intermediate crude futures rose by 38 cents, or 0.6%, to $69.35 a barrel. Official data showed nearly 42% of the region's oil output was shut-in as of Thursday. A shift towards lower-carbon fuels is also weighing on China's oil demand, speakers at the APPEC conference said this week. China's crude oil imports averaged 3.1% lower this year from January through August compared to the same period last year, customs data showed on Tuesday.

Persons: Phillips, Hurricane Francine, Brent, Francine Organizations: Brent, . West Texas, UBS, Organization of Petroleum, International Energy Agency, U.S . Energy, Administration Locations: Linden , New Jersey, United States, U.S . Gulf of Mexico, Louisiana, China, U.S

"Heavy rain is expected to continue through at least this afternoon, so please continue to stay weather aware,” Mississippi Gov. Jeff Landry was touring the hardest-hit areas across his state, while officials in New Orleans urged residents to conserve drinking water. The aftermath of a deluge from Hurricane Francine in Metairie, La., in Jefferson Parish, last night. The low-lying city was quickly deluged, with 7.33 inches of rain reported at New Orleans International Airport. In Lafourche Parish in southern Louisiana, 26 people trapped by rising floodwaters were rescued, local officials said.

Persons: Hurricane Francine, Tate Reeves, Jeff Landry, Miles Crawford, Crawford, Jonah Gilmore, “, ” Crawford, Francine, Matthew Hinton, Cynthia Lee Sheng Organizations: National Hurricane Center, Louisiana Gov, NBC, University Medical Center, Associated Press, New Orleans International Locations: Florida, New Orleans, Memphis , Tennessee, Louisiana, Alabama, Jackson , Mississippi, Birmingham , Alabama, Memphis, Atlanta, Mississippi, WDSU, Terrebonne Parish, Metairie, La, Jefferson Parish, Kenner, Jefferson, Lafourche Parish

☆ U.S. crude oil rises more than 1% as Francine disrupts production in Gulf of Mexico
▼ + stars: | 2024-09-12 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. crude oil jumped more than 1% to trade above $68 per barrel on Thursday, after Hurricane Francine churned through the Gulf of Mexico, disrupting oil production before making landfall in Louisiana. Oil futures rose more than 2% in the previous session as the storm threatened supplies. "Hurricane Francine has likely disrupted about 1.5mn barrels of US oil production, which we estimate will reduce September production in the Gulf of Mexico by around 50,000bpd," Giovanni Staunovo, an analyst at UBS, told clients in a Thursday note. Staunovo said the recent slump may be due to traders losing confidence in OPEC's ability to maintain compliance with production cuts at lower price levels. UBS expects oil prices will continue to rise, at least the short term.

Persons: Hurricane Francine, Francine, Giovanni Staunovo, Staunovo, Brent Organizations: UBS, bbl Locations: Gulf of Mexico, Louisiana, Gulf, Mexico, 50,000bpd

☆ Oil prices flat as lower demand signs outweigh U.S. hurricane impact
▼ + stars: | 2024-09-12 | by ( ) www.cnbc.com time to read: +1 min

Oil prices were flat on Thursday as concerns about lower demand erased the gains from the previous session spurred by Hurricane's Francine's impact on output in the U.S., the world's biggest crude producer. But with the storm set to eventually dissipate after making landfall, the oil market's attention again turned to lower demand. U.S. oil stockpiles rose across the board last week as crude imports grew and exports dipped, the Energy Information Administration said on Wednesday. The data also showed gasoline demand fell to its lowest since May at the same time distillate fuel demand dropped, with refinery runs also declining. Earlier in the week, the Organization of the Petroleum Exporting Countries cut its forecast for global oil demand growth in 2024 and also trimmed its expectation for next year, its second consecutive downward revision.

Persons: Hurricane's, Brent Organizations: Hurricane, Energy Information Administration, Organization of, Petroleum, International Energy, ANZ Research Locations: Nolan , Texas, U.S, U.S . Gulf, Mexico, Louisiana

☆ Hurricane Francine: Man rescues driver in submerged truck on live television
▼ + stars: | 2024-09-12 | by ( Henry Zeris | ) edition.cnn.com time to read: 1 min

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☆ Harris-Trump debate highlights and Hurricane Francine approaches Louisiana: Morning Rundown
▼ + stars: | 2024-09-11 | by ( Elizabeth Robinson | Elizabeth Robinson Is A Newsletter Editor For Nbc News | Based In Los Angeles. | ) www.nbcnews.com time to read: +7 min

And while Trump tried to tie Harris to President Joe Biden, he learned that she is a much tougher rival. While Trump tried to re-create the conditions of June’s fateful debate stage matchup, Harris reminded him, “You’re not running against Joe Biden. Harris tried to get under Trump’s skin, baiting him into a defensive posture that prevented him from attacking her weaknesses. And when Trump scolded Harris’ attempt to interrupt him, some allies lamented that he lost control at a key moment. Three Republican sources told NBC News after the debate that Trump came off as “angry” in that moment.

Persons: Kamala Harris, Donald Trump’s, Francine churns, Harris, Donald Trump, Trump, Joe Biden, “ You’re, You’re, ” Harris, Harris ’, ” Trump, Louisiana Hurricane Francine, Joe Wilson of, ”, Republican Kelly Ayotte, Joyce Craig, Mauricio Pochettino, Dave Grohl, Hill, Jesse Dittmar, James Earl Jones ’, Darth Vader, Jones, Char Adams, — Joy Y, Wang, Dermatologists, Elizabeth Robinson Organizations: Trump, Republican, NBC News, Federal, Labor Statistics, Louisiana Hurricane, Public, Novo Nordisk, Foo Fighters, Police, Miami Dolphins, NBC Locations: Louisiana, Ohio, New Orleans, Mississippi, Novo, semaglutide, Wegovy, Joe Wilson of South Carolina, Washington, ” New Hampshire, Ukraine, Russia

☆ With Strong Memories of Katrina, Mississippi Braces for Francine
▼ + stars: | 2024-09-11 | by ( Isabelle Taft | More About Isabelle Taft | ) www.nytimes.com time to read: +1 min

As Hurricane Francine pushed northeast through the Gulf of Mexico, preparations were underway in Mississippi, a state with only a short coastline — but one that has been repeatedly battered by hurricanes in the past. Tate Reeves declared a state of emergency. They poured the sand into white bags, tied them up and loaded them onto pickup trucks for residents to take home. They rode out Hurricane Katrina there in 2005, but said they wouldn’t stay if another storm of that strength threatened the area. Katrina came ashore in Louisiana and Mississippi as a Category 3 hurricane, with wind gusts of more than 120 miles per hour.

Persons: Francine, Tate Reeves, Danie Ladner, Gregory Organizations: Gov, Emergency, Center Locations: Gulf of Mexico, Mississippi, Hancock County, Louisiana, Dedeaux

☆ Video: Hurricane Francine strengthens ahead of expected landfall
▼ + stars: | 2024-09-11 | by ( Meneida Bailey | ) edition.cnn.com time to read: 1 min

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