Data: EIA; Chart: Axios Visuals

U.S. demand for gasoline rose again last week, per Energy Information Administration data that provides the latest sign of fuel consumption recovering a bit.

Why it matters: EIA's weekly data is preliminary and can be noisy, but it was the latest of several weeks of increases, and it's consistent with other signs of driving starting to pick back up.

  • The chart above shows product supplied, which is a proxy for consumption.

The big picture: Crude oil prices have also climbed out of their April depths as producers cut back supply and demand starts recovering somewhat from the unprecedented pandemic-fueled collapse.

But, but, but: Oil prices remain far below profitable levels for huge swaths of the industry amid the gigantic supply glut that's straining global storage infrastructure.

  • "The overwhelming glut is threatening one of the world’s vital industries and could prolong the economic fallout from the coronavirus," The Wall Street Journal notes in an in-depth look at the crisis this morning.

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Dion Rabouin, author of Markets
Aug 12, 2020 - Economy & Business

U.S. producer prices rose last month by the most since October 2018

Data: U.S Bureau of Labor Statistics; Chart: Axios Visuals

U.S. producer prices rose by the most since October 2018 last month, following a 0.2% decline in June.

Details: U.S. PPI for final demand, a measurement of prices paid by businesses, increased 0.6% last month, driven by a surge in portfolio management fees and the rising cost of gasoline.

What they're saying: Ruth Bader Ginsburg was a "tireless and resolute champion of justice"

Ruth Bader Ginsburg speaking in February. Photo: Sarah Silbiger/Getty Images

Democratic and Republican lawmakers along with other leading figures paid tribute to Supreme Court Justice Ruth Bader Ginsburg, who died on Friday night at age 87.

What they're saying: “Our Nation has lost a jurist of historic stature," Chief Justice John Roberts said. "We at the Supreme Court have lost a cherished colleague. Today we mourn, but with confidence that future generations will remember Ruth Bader Ginsburg as we knew her — a tireless and resolute champion of justice.”

Supreme Court Justice Ruth Bader Ginsburg dies at 87

Ruth Bader Ginsburg. Photo: Tom Brenner/Getty Images

Justice Ruth Bader Ginsburg has died of metastatic pancreatic cancer at age 87, the Supreme Court announced Friday evening.

Why it matters: Ginsburg had suffered from serious health issues over the past few years. Her death sets up a fight over filling a Supreme Court seat with less than 50 days until the election.