Oil Futures Settle Lower On Demand Worries, Inflation Data
Crude oil prices fell on Friday as the dollar surged higher after data showing a steep acceleration in U.S. inflation raised fears of more aggressive rate hikes by the Federal Reserve.
Reports saying Shanghai has imposed fresh Covid-related restrictions in several parts due to a surge in new cases have once again raised concerns about outlook for oil demand.
China said it will reimpose Covid-19 lockdowns in eight out of 16 of Shanghai’s districts after the country’s largest economic hub recorded a cluster outbreak of COVID-19.
Parts of Beijing have also reimposed some restrictions, raising fears of reduced demand from the world’s largest crude importer.
West Texas Intermediate Crude oil futures for July ended lower by $0.84 or about 0.7% at $120.67 a barrel, coming further off a 3-month of $123.15 recorded a couple of days ago.
Brent crude futures were down $1.25 or 1.01% at $121.82 a barrel a little while ago.
The U.S. Labor Department showed consumer prices in the country shot up by more than expected in the month of May, raising concerns about the outlook for interest rates.
The Labor Department said its consumer price index jumped by 1% in May after rising by 0.3% in April. Economists had expected consumer prices to increase by 0.7%.
The dollar index climbed to 104.23 before easing slightly to 104.15, still firmly up from the previous close of 103.22.
Arapahoe County Aurora DMV office closes due to sewage problems
The Arapahoe County Aurora Motor Vehicle office is closed because of plumbing problems.
The office, 490 S. Chambers Road, is closed indefinitely because of a sewage backup in the building, according to the Arapahoe County Clerk and Recorder. Construction work near the office caused the problem, and officials are working with the building’s owners to correct the messy mishap.
There is currently no set time or date for a reopening. Customers with appointments should check their email for information on rescheduling or for other service options. A 24-hour ballot drop box outside the location remains in use.
Opinion | Trump, American Monster
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By Maureen Dowd
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Two men shot near Coors Field, one victim pronounced dead at local hospital.
Two men were shot early Saturday in Lower Downtown, and one victim was pronounced dead at a hospital, police said.
The double shooting happened in the area of 21st and Market streets, one block from Coors Field, according to a 1:21 a.m. tweet by Denver police. An investigation is ongoing.
Opinion | Why the Memory of Jan. 6 Can’t Prevent a Trump Resurgence
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By Ross Douthat
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March For Our Lives Denver Gun Protest 2022
Protesters gathered in Denver’s Civic Center Park for the Denver branch of the March For Our Lives 2022 protest calling for stricter gun laws in the United States on Saturday, June 11, 2022.
Police: Boy injured in Windsor when his father’s gun is unintentionally fired.
An 8-year-old boy was wounded in Windsor when his father’s gun “unintentionally” discharged, police said.
About 8:20 p.m. Friday, police responded to the 1000 block of Indian Trail Drive on a shooting, police said in a news release.
The boy was taken to a hospital and treated for “minor” injuries.
Investigators determined that the boy’s father “unintentionally discharged a firearm which struck the boy, who was in an adjacent room,” according to the release. An investigation is ongoing.
Opinion | This Is No Way to Run a City (or a Country)
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By Ezra Klein
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Zahn McClarnon Sets His Thousand-Yard Stare on the Lead
AMC’s new thriller “Dark Winds” represents several firsts for the Indigenous actor, who has built a long career playing roles of quiet intensity.
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By Robert Ito
What to Cook This Week
Try Nicole A. Taylor’s newest recipes for Juneteenth, and then make a plan for saag paneer, spicy shrimp masala and more.
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By Sam Sifton