Oil falls to six-week low on lockdown considerations

A customer replaces a fuel nozzle at a Chevron Corp gas station on Wednesday, July 7, 2021. in San Francisco, California, USA.

David Paul Morris | Bloomberg | Getty Images

Oil prices fell to a six-week low on Friday as new Covid lockdowns sparked demand concerns just as industry players signaled a return in supply.

But for consumers looking for a respite at the pump, the declines are unlikely to translate into lower gas prices immediately. The national average for a gallon of gas was a seven-year high of $ 3.41 on Friday, according to the AAA. That’s up from $ 3.34 a month ago to $ 2.12 last year.

The US benchmark for oil declined more than 4% to a session low of $ 75.37, a price not seen since October 7th.

Crude oil was trading in the green earlier in the day but fell into negative territory following news of Austria’s lockdown. The rebound in demand has been a major driver of oil recovery this year and any signs that it may thaw will startle market participants.

“The market is basically still in a good position, but lockdowns are now an obvious risk if other countries follow Austria’s lead,” said Craig Erlam, senior market analyst at Oanda. “Moving below $ 80 could intensify the correction and perhaps pull the price back towards the middle of the $ 70 region,” he added.

The December futures contract expires today, with the more actively traded contract for January delivery falling 3.8% to $ 75.44 a barrel. Brent Crude Oil Futures, the international benchmark, traded at $ 78.15 for the first time since October 1.

Both WTI and Brent are on track for a fourth straight week of losses, the longest weekly losing streak since March 2020.

“A slight decline in gas demand, possibly due to seasonal changes in driving habits, will contribute to some price relief at the pump,” an AAA spokesman said on Monday, adding that “the persistently tight crude oil supply is likely to lead to fluctuations in gas prices.” . instead of falling for some time. “

While oil’s decline on Friday is the largest since July, the commodity has trended lower in recent weeks. The Biden government has repeatedly stated that it is looking for ways to reduce consumer burden from higher oil in the form of gas prices, which are hovering around a seven-year high. One possibility would be for the government to develop the Strategic Oil Reserve.

“If the US presidential administration wants the oil market’s attention, it has it now that all eyes are on Washington to see if it will step up its stance on China’s SPR release with a subsequent coordinated effort to put further pressure on wield oil prices. ” , “said Louise Dickson, Senior Oil Market Analyst at Rystad Energy.” The US has been publicly investigating the oil market since the summer, particularly OPEC +, to facilitate supply and obtain price relief, as well as other importing countries such as China, India and Japan. ” [are] join the choir. “

However, analysts have determined that releasing oil from the SPR is unlikely to have much long-term effects.

“While such a decision would lead to price setbacks, the SPR can only close the gap during temporary production stoppages and not fix structural problems such as underinvestment and rising demand,” UBS said in a November 5 announcement to clients.

In addition to political headwinds, oil is also being put under pressure by increasing supply, as producers, including in the USA, are putting production online.

Oil prices rose steadily throughout 2021, with WTI hitting a seven-year high of $ 85.41 on October 25. Since then, it’s down 11.5%. Despite the recent weakness, US oil is still 55% up for 2021.

Avenue indicators encourage public to keep away from giving cash to panhandlers in Sioux Falls

SIOUX FALLS, SD (KELO) – When you see someone on the side of the road asking for help, it seems like the right thing to do to give them money, but police say it doesn’t always.

It’s not uncommon for people to ask for money along the busy streets of Sioux Falls. According to the police, the money raised is often used to feed addictions.

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“The reality is that when people are struggling with addictions, mostly alcohol, sometimes bad behavior is followed, it’s nature to drink too much sometimes,” said Jonathan Thum, Sioux Falls Police Chief, Jonathan Thum.

“We want to help the homeless in our community, but we also have to support our neighbors as well as our business people, because unfortunately they are the ones who get their hands on the effects of the rubbish, the rubbish, the not-so-beautiful things. We just have to respect them too, ”said Julie Becker, General Manager of St. Francis House.

The city has taken a number of measures to educate people about the problem of panhandling. These signs are the latest endeavors.

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“We want more than anything, you know, we could do press briefings, we could do PR campaigns, but a fixed stationary sign is just one more thing that people see and it reminds them, ‘Hey, let’s get ours ‘Money for the local charities that are doing such a great job helping people, not using our money to feed some of the addiction problems we are seeing in the community,’ ”Thum said.

There are many other ways you can help the homeless community here in Sioux Falls.

Download the KELOLAND News App to get the latest headlines on the go.

“Besides St. Francis House, there are so many nonprofits that are really here to help the homeless in our community,” Becker said. “If you give us this support, we can expand that dollar even further to help so many more people.”

The city says they plan to further evaluate the impact of the signs before adding more across the city.

Sioux Falls Culver’s to boost cash for Particular Olympics South Dakota on Tuesday

SIOUX FALLS, SD (KELO) – Culver’s in Sioux Falls is helping raise funds for the Special Olympics South Dakota.

The restaurant chain is partnering with the South Dakota Law Enforcement Torch Relay for Special Olympics on Tuesday, August 17th for Butterburgers & Badges. Local law enforcement agencies will team up with Special Olympics athletes to serve customers indoors and outdoors from 4 p.m. to 8 p.m. at Culver’s four locations in Sioux Falls.

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“We love to help our community, find organizations that need help, and Special Olympics is one that we have loved very much over the past few years and really see what we can do to help them with this event,” said Chad Pearson, the owner and operator of Culver, said.

The tips collected will benefit the Special Olympics South Dakota directly. Culver’s also donates $ 2 for every full-size cement mixer sold Tuesday.

Nice Falls lady is elevating cash for the Make-A-Want Basis

GREAT FALLS – Great Falls’ Kennedy Ross continues efforts to raise funds for the Make-A-Wish Foundation.

Great Falls Girl raises money for the Make-A-Wish Foundation

For the past four years, nine-year-old Kennedy has spent time selling lemonade at a stall outside her house every summer.

It opened at 10 a.m. on Saturday and will be open until 2 p.m. at the intersection of James Avenue and 5th Street NW in the Riverview neighborhood.

Her first clients included members of the Great Falls Central Catholic High School football team.

You can recognize her last name – she is the sister of Troy Ross, who was diagnosed with a rare disease in 2017.

In 2019, Make-A-Wish Montana sent the Ross family to Disney World, and since then Kennedy has donated all of their soda proceeds to Make-A-Wish.

Kennedy said the lemonade was their way of helping people Make-A-Wish Foundation because the foundation has done so much for her family.

“I feel so good inside that I can help (make-a-wish patients),” said Kennedy. “I’m going to have to build a new lemonade stand. It was built from an old fence.”

The congregation has gathered around Troy, and for the past four years the American Red Cross has been hosting a nationwide blood donation campaign to his credit.

She also raises money online; Click here if you want to donate.

#TroyStrong blood drive returns to Great Falls

Pedal FARR set to boost cash for most cancers sufferers at Sioux Falls experience

Christmas would be hard, Tina Evers knew that.

It was winter 2018 and her husband’s recurrent colon cancer was getting worse. His hospice care took up most of her attention. Likewise the bills.

It was hard to think of buying gifts when the person who loved them was barely acting on their own, so exhausted from the constant pain and fatigue his illness was causing in his body.

But then they received a surprise check for $ 1,000. The money wasn’t much, but it let Evers focus on her family and husband instead of the bills and other worries.

“It was something that helped take the pressure off Christmas,” said Evers, a 47-year-old mother of three and stepmother of two. “It gave me the freedom to just be with him and not have to worry about the finances and just cherish those moments of being together as a family and enjoying Christmas.”

The check was from Pedal FARR, a local organization that donates money from an annual Sioux Falls bike ride to families whose loved ones have cancer

Her husband Brian died over a week in 2019, which made them even appreciate their last Christmas together.

Now Evers sits on the board of Pedal FARR helping set up his annual 25-mile drive.

The sixth annual Pedal FARR event begins between 11:30 am and 2:00 pm on August 14th at Remedy Brewing Co. in downtown Sioux Falls. Then it meets several other breweries and bars along the bike path, including stops at Monks and the Blue Rock Bar and Grill. This is the first year Pedal FARR has partnered with the American Cancer Society for this ride.

Pedal FARR founder Emily Connolly started the event to raise funds for a bike ride she took part in in 2016. But the next year she decided to donate her share of $ 3,000 to cancer patients.

Since then, the event has grown to more than 300 riders in 2020 and has raised approximately $ 11,000 to give gifts to 11 families in South Dakota, North Dakota, Iowa, and Minnesota. The nominations for the award winners will open on the Pedal FARR website on the day of the event.

This year, Connolly, 46, is hoping to “blow that out of the water” with a goal of reaching 500 bikers on this year’s ride. Drivers don’t have to raise any money to participate, she added, all they have to do is pay $ 25 as an early bird entry fee.If drivers want to buy a shirt too, it’s an extra $ 12, and registration increases after August 7th $ 35.

Braden Beach, Bailey Beach, Natalie Thompson, Jake Evers and Tina Evers pose for a picture during the annual FARR Pedal Ride.

“It’s people who come out to honor others who have died, to celebrate people who survived, and to support people who are still fighting,” Connolly said.

Mike Fox, 50, has taken every ride since they started raising funds for local cancer patients. Not only is it fun to play sports and hang out with friends, but it also gives the strength to see the event grow and succeed year after year, he said.

“It’s fun, and it’s definitely not a race,” said Fox. “You go at your own pace, hang out with your friends, and support cancer patients along the way. It’s such a small but big thing that we can do.”

Evers took her first ride in 2018, honoring a high school friend who was diagnosed with cancer. Even though Brian couldn’t ride next to her due to his diagnosis, he drove to each of the bar stations to ride anyway. The next year he was honored at the annual Share a Coke event where Evers could share his story and who he was with the group.

Lanette Kotlinek, Carey Haugen and Tina Evers post for a photo at the Shake a Coke with Deserae Honkamp Stop at the Pedal FARR event 2020.

This year’s Share a Coke Stop honors Chris Krueger, who was an avid cyclist who died of acute myeloid leukemia in 2016. Every Coke will have Chris’ name on it and when the participants drink, family members can remember and honor Krueger.

“When we added this stop, it was supposed to remind drivers why they were going,” said Connolly. “We drive for people who can’t, and we also allow their families and friends to remember them. For families, it’s a healing moment.”

Evers still attends every year to move forward and to pay up front the generosity her family received.

“It’s a nice, closing thing where you can learn and give back about these survivors and people fighting cancer,” Evers said. “I know I can’t cure cancer, but at least that gives me a way to help somehow.”

Citizen group looking for poll query to divert Wheeler cash falls brief on signatures

A group of residents failed to meet Friday’s deadline to submit 925 signatures from registered Aspen voters to ask a question on the November vote calling for re-use of some of the property transfer tax revenue given to the Wheeler Opera House goes, is required.

Kurt Hall, a member of the group that began their efforts earlier this week, said he did not have a final count of signatures on Friday because multiple people were collected and no count had been taken.

“We’re going to move on and when we get to 925 we are going to go before (Aspen City Council) and hope they see this as confirmation,” Hall said. “Even though we missed the deadline, the pressure will mount and our concern, approach and goal will be spread throughout the community.

“It’s not over yet; it has only just begun. “

They try to split the income so that half goes to the wheeler and the other to art.

The question was also to lift the existing cap of $ 100,000 in Wheeler Real Estate Tax (WRETT) income, which is spent on cultural, arts and music organizations in the valley.

A majority of voters agreed to this in 1979 and all WRETTs went to the wheeler.

In 2016, voters extended the WRETT until 2039.

The city could put its own measure on the November vote and has until September 3, but councilors said earlier this year that they were unwilling to ask voters a question about diverting future Wheeler funds, and preferred the elections in autumn 2022.

advice discussed for months about how much money should be diverted and where it should go.

Identified areas of need that the council has focused on include childcare, health and social services, rainwater, and the non-profit arts community.

Mayor Torre said this week that the group trying to split the revenue 50-50 hasn’t done the financial modeling the city is doing to make sure enough money goes to historic Wheeler.

The fund currently has just under $ 40 million.

He also said the group misrepresented that its members tried to work with city officials.

“They turned around and came up with ballot papers with no financial models,” said Torre. “They didn’t take part in any dialogue … the way they approached it wasn’t collaborative.”

City Secretary Nicole Henning accepted the group’s petition Monday after rejecting an earlier petition asking voters to lift the $ 100,000 cap and give the Aspen School District a $ 10 million grant to approve the modernization and renovation of the 550 seats Aspen District Theater and 150-seat black box space.

The language of the petition is not a legislative matter, so Henning concluded and stated in a letter that the granting of funds was an administrative act by a state body.

While the group needed a significant amount of money to renovate the district theater, the additional money released could also fund dozens of local arts and cultural organizations and organizations, which the city would decide on through a grant process.

The WRETT, a 0.5% tax on all property transfers in the city, averages between $ 2 million and $ 4 million per year, although that number was higher in 2020 and likely to be in 2021 as Aspen continues to see record home sales.

csackariason@aspentimes.com

AMC Leisure Holdings Inc. Cl A inventory falls Friday, underperforms market

Shares in AMC Entertainment Holdings Inc. Cl A
AMC, -4.17%
lost 4.17% to $ 51.96 on Friday, which turned out to be an all-round positive trading session for the stock market with the NASDAQ Composite Index
COMP, + 0.81%
Up 0.81% to 14,639.33 and the Dow Jones Industrial Average
DJIA, + 0.44%
increased by 0.44% to 34,786.35. This was the second consecutive day of losses for the stock. AMC Entertainment Holdings Inc. Cl A closed $ 20.66 below its 52-week high ($ 72.62) the company hit on June 2.

The trading volume (89.3 million) remained 96.8 million below its 50-day average volume of 186.2 million

AMC Leisure Holdings Inc. Cl A inventory falls Thursday, underperforms market

Shares in AMC Entertainment Holdings Inc. Cl A
AMC, -4.34%
lost 4.34% to $ 54.22 on Thursday, which turned out to be an all-round cheap trading session for the stock market with the NASDAQ Composite Index
COMP, + 0.13%
Up 0.13% to 14,522.38 and the Dow Jones Industrial Average
DJIA, + 0.38%
increased by 0.38% to 34,633.53. AMC Entertainment Holdings Inc. Cl A closed $ 18.40 below its 52-week high ($ 72.62) the company hit on June 2.

The trading volume (57.3 million) remained 127.7 million below its 50-day average volume of 185.0 million.

Editor’s note: This story was created automatically by Automated insights, an automation technology provider using data from Dow Jones and FactSet. See our Market Data Terms of Use.

Dave & Buster’s Leisure Inc. inventory falls Tuesday, underperforms market

Dave & Buster’s Entertainment Inc.
PLAY, -2.46%
lost 2.46% to $ 41.24 on Tuesday in what turned out to be an all-round bad trading session for the stock market on the NASDAQ Composite Index
COMP, -0.71%
0.71% decline to 14,072.86 and Dow Jones Industrial Average
DJIA, -0.27%
Decrease by 0.27% to 34,299.33. This was the fifth consecutive loss day for the stock. Dave & Buster’s Entertainment Inc. closed $ 10.49 below its 52-week high ($ 51.73) the company hit on March 26th.

The stock underperformed some of its competitors on Tuesday, like McDonald’s Corp.
MCD, -0.27%
fell 0.27% to $ 236.35, Chipotle Mexican Grill Inc.
CMG, -1.49%
fell 1.49% to $ 1,370.64, and Starbucks Corp.
SBUX, -0.50%
fell 0.50% to $ 111.89. The trading volume (1.6 million) exceeded its 50-day average volume of 1.4 million.

Editor’s note: This story was created automatically by Automated insights, an automation technology provider using data from Dow Jones and FactSet. See our Market Data Terms of Use.

Stay Nation Leisure Inc. inventory falls Friday, underperforms market

Live Nation Entertainment Inc.
LYV, -0.88%
slipped 0.88% to $ 89.24 on Friday in what turned out to be an all-round positive trading session for the stock market with the S&P 500 index
SPX, + 0.88%
Up 0.88% to 4,229.89 and the Dow Jones Industrial Average
DJIA, + 0.52%
Increase by 0.52% to 34,756.39. This was the third consecutive loss day for the stock. Live Nation Entertainment Inc. closed $ 5.39 below its 52-week high ($ 94.63) that the company hit on March 3.

The stock underperformed some of its competitors on Friday, such as eBay Inc.
EBAY, +1.81%
rose 1.81% to $ 65.23, World Wrestling Entertainment Inc. Cl A
WWE, + 0.11%
rose 0.11% to $ 56.83 and MSG Networks Inc. Cl A
MSGN, -0.38%
fell 0.38% to $ 15.71. The trading volume (1.2 million) remained 922,007 below its 50-day average volume of 2.1 million.

Editor’s note: This story was created automatically by Automated insights, an automation technology provider using data from Dow Jones and FactSet. See our Market Data Terms of Use.