Day: July 9, 2026

Crude rally deepens as US-Iran tensions shatter ceasefire hopes

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Oil prices extended their gains on Thursday after US President Donald Trump declared the ceasefire with Iran over and ordered fresh strikes following attacks on ships in the Strait of Hormuz. Both benchmark contracts surged about 8%, with Brent crude climbing above $80 a barrel for the first time in two weeks, raising concerns over higher inflation and potential risks to global economic growth. US West Texas Intermediate crude futures were trading at $74.52 a barrel. Washington also revoked a temporary sanctions waiver for Iranian oil. However, equity markets mostly…

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US electricity output hits record high, tops 100,000 GWh for first time, EEI says

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July 9 (Reuters) – U.S. electricity generation hit a record high ​last week as ‌an intense heatwave across much of the country boosted ​air-conditioning demand, according ​to data from the Edison ⁠Electric Institute. Power output ​reached 100,996 gigawatt-hours (GWh) in ​the week ended July 4, surpassing the previous record of ​99,445 GWh set ​in July 2022. Jumpstart your morning with the latest legal news delivered straight to your inbox from The Daily Docket newsletter. Sign up here. Over the past 52 ‌weeks, ⁠U.S. electricity generation totalled 4.35 million GWh, up 2.3% from…

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