Scott DiSavino

Texas Power Use Hits Record For June, All-time Peaks To Come

Power demand in Texas broke the June record on Monday and will continue rising until it breaks the all-time high later this week as economic growth boosts overall usage and hot weather causes homes and businesses to crank up their air conditioners.

Oil Jumps 4% As U.S. Gasoline Prices Hit Record High

Oil prices rose about 4% on Friday as U.S. gasoline prices jumped to a record high, China looked ready to ease pandemic restrictions and investors worried supplies will tighten if the European Union bans Russian oil.