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Energy expert warns of global 'crisis'

S&P Global Vice Chairman Daniel Yergin warned that global energy is in a "crisis," noting that "the market is very tight right now in terms of supply." Speaking with "Mornings with Maria" from the World Economic Forum in Switzerland on Tuesday, Yergin noted that the energy market "was tight before the Ukrainian crisis" and now it is "being disrupted by the direction of flows."
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Augusta Free Press

House bill would give you a $500 cash rebate to offset high gas prices

A group of House lawmakers have introduced legislation that would give Americans a $500 direct cash rebate aimed at easing the sting of high gas prices. How it’s paid for: by eliminating 11 of the most egregious tax subsidies flowing to fossil fuel companies. Donald McEachin (VA-04), Sean Casten...
VIRGINIA STATE
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Russian oil's Achilles' heel: insurance

LONDON/NEW DELHI/TOKYO, May 25 (Reuters) - Russia has so far deflected much of the impact of sanctions on its oil trade but the insurance industry threatens to throw a spanner in the works unless Moscow and its customers can plug a gap left by Western underwriters. Insurers from Europe and...
ENERGY INDUSTRY

Alex Guarnaschelli's Genius Tip For Keeping Olive Oil Fresh

Experts say buying olive oil is like buying wine. There are subtle differences in taste that vary depending on its region of origin, and less expensive bottles often lack the character that is detectable in more premium varieties (via Well+Good). Grocery stores often offer olive oils that range substantially in price, from less than $10 to more than $50, and some that even sell in the three digits. According to Real Simple, while you don't have to break the bank, spending a bit more for a good bottle of the extra-virgin stuff can pay off. It does some heavy lifting in the flavor department, whether it's used to elevate simple dishes, finish off soups and salads or brighten up roasted vegetables.
FOOD & DRINKS

Oil steadies after choppy trade, U.S. says export ban not ruled out

NEW YORK, May 24 (Reuters) - Oil prices steadied on Tuesday after choppy trade as tight supply worries offset concerns over a possible recession and China's COVID-19 curbs. Prices turned negative after U.S. Energy Secretary Jennifer Granholm said President Joe Biden had not ruled out using export restrictions to ease soaring domestic fuel prices. read more.
ENERGY INDUSTRY
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Factbox: Latest on the worldwide spread of the coronavirus

May 25 (Reuters) - Japan's government will urgently and flexibly take steps to ease the pain of the surging cost of living to ensure the economy's recovery from COVID-induced doldrums, Finance Minister Shunichi Suzuki said on Wednesday. read more. DEATHS AND INFECTIONS. * Eikon users, see COVID-19: MacroVitals https://apac1.apps.cp.thomsonreuters.com/cms/?navid=1592404098 for...
WORLD
rigzone.com

Oil Inventories Down to Dangerously Low Point

Only China appears to have a reasonable inventory cushion against the unexpected, according to a new BofA Global Research report. — Crude oil inventories are down to a dangerously low point across Europe, North America, and OECD Asia just as OPEC+ spare production capacity has dwindled to the lowest levels since April 2020.
ENERGY INDUSTRY
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Sen. Kennedy: American people don’t believe Biden's claim that he doesn’t control gas and oil prices

Sen. John Kennedy castigated Biden for his economic and energy failures telling "Hannity" the president has lost the trust of the American people. SEN. JOHN KENNEDY: On inflation here is what the American people see. President Biden gave Americans three $600 stimulus checks. And then, for his next trick, he crashed their 401(k)s and increased their gasoline bills by $800, their food bills by $3,000, and their rent by $2,000 a month. Now, unless you have untreated mental illness, you know that is not a good trade. And that’s why most Americans, at least on the economy, would — right now — would not trust the Biden Administration to properly open a PayPal. Its economic illiteracy is astounding.
CONGRESS & COURTS

U.S. Treasury official heads to India to discuss Russian oil purchases

WASHINGTON, May 24 (Reuters) - A Biden administration official headed to India on Tuesday to talk with officials and private industry about U.S. sanctions, the Treasury Department said, as Washington seeks to keep India's purchases of Russian oil from rising. Elizabeth Rosenberg, the assistant secretary for Terrorist Financing and Financial...
ENERGY INDUSTRY

Tuesday’s Top Analyst Upgrades and Downgrades: Alibaba, Boeing, Carnival, Deere, Eli Lilly, Home Depot, Marathon Oil, Realty Income, Under Armour and More

Tuesday's top analyst upgrades and downgrades included Alibaba, American Express, Amgen, Blue Owl Capital, Boeing, Carnival, CoStar, Deere, eBay, Eli Lilly, Foot Locker, Home Depot, Juniper Networks, Kohl's, LyondellBasell Industries, Marathon Oil, Moderna, Petco Health, Realty Income and Under Armour.
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