Oil futures reach new highs as storms aid rally
Light sweet crude for August delivery rose to 61.28 a barrel on the New York Mercantile Exchange, a new record, with Brent futures in London up to 59.87. Analysts note year‑earlier levels are far below inflation‑adjusted peaks, while Cindy weakens inland and Dennis is called a minimal hurricane amid the late rally.
MENTIONED IN THIS ARTICLE
New York Mercantile Exchange
London
Brent
Cindy
Dennis
Ito
Oil supply fears lift prices as cuts reported
Amon Kova 8 tooket Management says 190,000 barrels per day of oil shut in, less than 1 percent of U.S. daily demand. BNP Paribas Commodity Futures analyst Tom Bentz notes no evidence yet of lasting oil production damage, but says prices rise on fear that a hurricane or terrorist attack could curb output when demand is strong and gravity that rate remains high.
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Amon Kova 8
Tooket Management Service
United States
Tom Bentz
BNP Paribas
New York
EZ Rider funding for Odessa buses hinges on toll credits match
The EZ Rider plan relies on toll credits to match federal funds for new 30‑foot buses. Cities may pay little or nothing if bids come in low, but could cover excess costs. remaining funds from year one are kept as a safety net. Proposals run through July 31 with award expected by Sept 1 and buses arriving late next summer after assembly.
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Smithson
Odessa
Richard Morton
EZ Rider
Morton
James Goates
Goates
Feds
Judge rules slave reparations suit must be decided politically
In Chicago federal court Judge Charles Norgle dismissed a renewed slave descendants reparations suit against 17 defendants. He said the issue is political and should be addressed by Congress or the White House, and that the plaintiffs failed to prove a link to the corporations and are barred by the statute of limitations. Attorneys plan to appeal.
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Chicago
Charles R. Norgle
Norgle
Congress
Executive Branch
Benjamin Obi Nwoye
Fires Burn Across Rangeland Near Fort Davis
Perry said several fires sparked by lightning on May 22 threaten scattered acres but not Caldwell Ranch HQ or the McDonald fire. Crews balance suppression with safety while awaiting rains to green the exposed grass and reduce danger. Firefighters expect slower movement due to limited fuel as rains shape recovery prospects.
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Bryan
Caldwell Ranch
McDonald
Nathaniel Miller
Bush shifts on aid to corrupt nations and climate stance
President Bush questions aid to corrupt countries and argues for governance that funds health and education. He concedes some warming concerns and signals a move beyond Kyoto toward international accords among industrial nations.
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Bush
White House
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