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Commodities - The Latest Commodities News, Trading Prices, Market Analysis and Trends

The Latest Finance and Stock Market News Covering Banking, Investing and Regulation. ....

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U.S. Inflation Eases as Federal Reserve Rate Decision Looms; Rent Relief Arrives for Americans

U.S. Inflation Eases as Federal Reserve Rate Decision Looms; Rent Relief Arrives for Americans By James Christie

Good day. Following the latest U.S. inflation reading, Federal Reserve officials could hold interest rates steady today and consider wh. ....

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*U.S. Industrial Production Slumps 2.2% In February

U.S. Industrial Production Slumps 2.2% In February
U.S. Industrial Production Slumps 2.2% In February
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Restarting Texas' Damaged Oil Refineries Is Going to Take Weeks

Restarting Texas’ Damaged Oil Refineries Is Going to Take Weeks
Bloomberg
2/19/2021
© Bloomberg
People push a vehicle along a snow covered road in Oklahoma City.
(Bloomberg) Four of the largest refineries in Texas are discovering widespread damage from the deep freeze that crippled the state and expect to be down for weeks of repairs, raising the potential for prolonged fuel shortages that could spread across the country.
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Exxon Mobil Corp.’s Baytown and Beaumont plants, Marathon Petroleum Corp.’s Galveston Bay refinery and Total SE’s Port Arthur facility all face at least several weeks to resume normal operations, people familiar with the situation said. Gasoline prices at the pump could reach $3 a gallon in May as long outages crimp supply ahead of the driving season, said Patrick DeHaan, head of petroleum analysis for retailer tracker GasBuddy. ....

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Texas Power Crisis Moves Into Fourth Day With Millions in Dark

Texas Power Crisis Moves Into Fourth Day With Millions in Dark
Bloomberg
2/18/2021
Naureen S. Malik, Mark Chediak and Josh Saul
(Bloomberg) The crisis that has knocked out power to millions of homes and businesses in Texas and the central U.S. is poised to enter a fourth day, with millions still in the dark.
While Texas’s grid operator was able to restore power to 1.8 million homes Wednesday, 1.2 million remain without electricity, according to a spokesperson. That’s about 3.6 million people based on the size of the average household. Around 43 gigawatts of generation was still offline as of 6 p.m. local time enough to power 8.6 million homes. ....

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