A record 15 million people (roughly 1 in 10 filers) received a six-month extension for their 2018 returns, according to the Internal Revenue Service. Guess what? Hopefully you’re not really wondering. Those returns are due today. On the bright side, if you’re getting a tax refund, you’ll have the money before the holidays (3 weeks, on average).
Why so crude? Crude oil prices rose last week but fell slightly on Tuesday, trading around $53.50 a barrel. News that the U.S. and China reached a partial trade deal late last week supported the market, with China promising to buy more American-made agricultural products and the U.S. pulling back on additional tariffs that they had planned. Ongoing turmoil in the Middle East also boosted prices as Turkey’s incursion into northern Syria prompted President Trump to impose sanctions and demand a stop to the operation. Weak economic data out of China tempered gains as investors questioned global oil demand. The Baker Hughes oil rig count rose last week, going from 710 to 712 and indicating increased domestic production.
Northeast Natural Gas Spot Prices Fall As Pipelines Fill! Natural gas flowing out of the Northeast region into the rest of the United States averaged more than 16 billion cubic feet per day (Bcf/d) during September—between 1 Bcf/d and 2 Bcf/d more than in previous months, according to data from Genscape. The movement of natural gas has increased as spot prices declined in the Northeast and as production in Appalachia continues to grow. – U.S. Energy Information Administration
Putting Out Fires! California Governor Gavin Newsom said on Monday that utility Pacific Gas and Electric should be held accountable for mismanaging last week’s widespread power shutoffs and urged the company to provide credits or rebates to affected customers. The utility, a unit of PG&E, cut off electricity to more than 730,000 homes and workplaces in northern California last week in a bid to reduce wildfire risks posed by extremely windy, dry weather. – CNBC
Google’s big 2019 hardware event has concluded. The company announced a bunch of products, including the Pixel 4 and Pixel 4 XL, new Pixel Buds, Stadia, Nest Wifi, Nest Mini, and Pixelbook Go. – The Verge