At 427.8 million bbl, US crude oil inventories are at the 5-year average for this time of year

U.S. Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the second quarter of 2019, according to the "second" estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 3.1 percent.

Russian thermal coal production is set to grow over 100 million mt by 2035, as the country looks to invest in new coal infrastructure and focus increasingly on the growing Asia-Pacific region, President Vladimir Putin said in a meeting with heads of coal mining regions last week.

The US will raise the tariff on $250 billion worth of Chinese imports from 25% to 30% on October 1, and raise the current 10% tariff on another $300 billion of Chinese imports to 15% on September 1,

Feedgas flows to US LNG export terminals reached a new record of 6.5 Bcf/d on Friday, subject to revisions, amid robust demand in Latin America and positive netback spreads that are expected to strengthen into October,

Coal use in the U.S. electric power sector has decreased as overall electricity demand has remained relatively flat and other fuels—particularly natural gas and renewables—have gained market share.

Norway’s $1 trillion sovereign wealth fund should shift billions in investments from European stock markets and instead invest more in the United States and other North American markets to seek higher returns, the fund’s manager recommended on Tuesday.

“This escalation of the U.S.- China trade war is another step in the wrong direction, the consequences of which will be felt by American businesses and families,” said Kyle Isakower, API’s Vice President of Regulatory and Economic Policy. “In addition to the impacts on the U.S. economy and jobs, U.S. energy leadership and global competitiveness are threatened as U.S. natural gas and oil exports continue to serve as targets for retaliation.”

China has announced a 5% tariff on imported US crude oil in retaliation for US President Donald Trump’s recent escalation of the countries’ trade war.

David Koch, the industrialist and libertarian who used his fortune to transform American politics while also donating more than $1 billion to philanthropic causes, has died. He was 79.