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‘A massacre’: At least 30 children die in Indian hospital after oxygen is cut off

“One by one, the infants and children slipped away Thursday night, their parents watching helplessly as oxygen supplies at the government hospital ran dangerously low” writes Annie Gowen Is for washingtonpost.com. The agreement expired July 31, and Pushpa discontinued the oxygen supply Aug. 4.The hospital owed $89,750 to a medical supply company called Pushpa Sales Pvt. Source: washingtonpost.com Share This:

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News Oil 

Oil gains for the day, falls for the week; natural gas tallies weekly rise of 7.5%

“Oil rose Friday, as a modest rise in the U.S. oil-rig count from Baker Hughes BHGE, -1.16% fueled expectations that drilling activity has stabilized” writes Markets Commodities Reporter for marketwatch.com. Prices had traded lower for much of the session, and still lost roughly 1.5% for the week on lingering concerns over the global glut of crude supplies.Natural gas, meanwhile, tallied a weekly gain of 7.5%–the biggest such rise of the year–after U.S. supplies rose less than expected.September WTI crude CLU7, +0.47% climbed 23 cents, or 0.5%, to settle $48.82 a…

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Futures News Oil 

Oil prices move lower as geopolitical tensions rise

“Oil futures declined early Wednesday amid a broader risk-off move in financial markets as tensions between the U.S. and North Korea built anew” writes Jenny W for marketwatch.com. That adds to pressure from this year’s faster-than-expected acceleration in U.S. oil production, which has been a challenge for the Organization of the Petroleum Exporting Countries. Furthermore, some U.S. exploration and production companies recently announced less investment spending for the rest of 2017, “suggesting the current rate of U.S. oil production growth could slow,” the agency added.If confirmed by official Energy Information…

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News Oil 

Higher-Cost Crude Could Squeeze Margins at U.S. Refiners

“Neil Earnest, president of Dallas energy consultancy Muse, Stancil & Co, said changes in the price of crude could also affects refiners’ margins ahead” writes Erwin Seba for reuters.com. HOUSTON (Reuters) – U.S. refiners could face a continued squeeze on profit margins in the months ahead as dwindling supplies of heavy crude from Venezuela and elsewhere are leading several to switch to higher-priced but easier-to-refine light, sweet crude.”It may, however, impact a refiner who has customized a process to run heavy crude.ExxonMobil Corp also is running a heavier slate of…

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Office Depot to launch same-day office supply delivery in Fort Lauderdale-Miami area

“Office Depot is launching same-day delivery of office supplies in regions including Fort Lauderdale and Miami, the Boca Raton-based company said Monday” writes Marcia Heroux Pounds for sun-sentinel.com. Smith, who joined Office Depot as CEO in February, has been applying his technology background from companies including Lenovo and Dell to Office Depot. Source: sun-sentinel.com Share This:

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Futures News Oil 

Oil pauses after bullish data sends price up 6% for the week so far

“Oil futures edged lower on Thursday after fresh gains in the U.S. amid bullish weekly data on both supplies and production” writes Jenny W for marketwatch.com. The Energy Information Administration said U.S. crude stockpiles fell a bigger-than-expected 7.2 million barrels last week, the fourth-straight drop.Crude demand by U.S. refiners will likely recede in September and October when seasonal maintenance work begins, Societe Generale noted.Meanwhile, long-term Chinese oil demand is expected to lose some steam as the country veers towards green energy and natural gas to power its massive population, said…

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Amazon Business customer tally tops one million in the U.S.

“Amazon Business, Amazon.com Inc.’s AMZN, -0.19% marketplace serving companies with products like food-service supplies, lab equipment and more, said Tuesday that it now has one million customers in the U.S. Amazon Business launched in April 2015 and its customers include Con Edison of NY, Johns Hopkins University and Siemens” writes Tonya Garcia for marketwatch.com. Amazon shares are down 0.3% in premarket trading, but up 38.6% for the year so far. Source: marketwatch.com Share This:

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Why back-to-school sales tax holidays could actually cost you money

“Currently 16 states have back-to-school sales tax holidays planned for 2017, with most located in the Southeast” writes Jacob Passy for marketwatch.com. It estimates that in 2017 sales tax holidays will cost governments in the 16 states holding them more than $250 million.Back-to-school sales tax holidays are periods of time when state and local governments do not collect sales tax on a range of items children may need for school, such as clothing, school supplies, backpacks and computers.In coming weeks, shoppers across the country will flock to retailers to take…

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News Oil 

Oil extends gains as EIA reports a second-straight weekly drop in U.S. crude supplies

“Oil prices extended their earlier gains Wednesday after data from the U.S. Energy Information Administration showed that domestic crude supplies dropped 7.6 million barrels for the week ended July 7” writes Markets Commodities Reporter for marketwatch.com. That topped a forecast for a decline of 2.6 million barrels by analysts surveyed by S&P Global Platts, but came in a bit less than the decline of 8.1 barrels reported by the American Petroleum Institute late Tuesday.Gasoline stockpiles also fell by 1.6 million barrels, but distillate stockpiles climbed by 3.1 million barrels last…

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