Jun 22, 2018 - Energy & Environment

Oil market prices rise 1% ahead of OPEC decision

Oil market prices rose 1% on Friday after news came out that there seemed to be disagreement between OPEC leaders in Vienna on how whether output should be raised to compensate for tightness in the market, per Reuters.

The big picture: A decision hasn't been formally announced yet, but market analysts expect OPEC to announce 500,000 to 600,000 barrel per day production increase to keep the market moving without overloading the market.

The state of play: Benchmark Brent Crude prices went up 1.54% to $73.92 as of 7:30am ET Friday. WTI Crude jumped 1.24% at the same time.

The backdrop: Saudi Energy Minister Khalid Al-Falih pushed for a 1 million barrel per day hike on Thursday during a monitoring committee meeting. Iran's oil minister Bijan Zanganeh stormed out but eventually returned to the negotiating table, per Bloomberg.

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Axios

Updated 15 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

Global: Total confirmed cases as of 5:30 p.m. ET: 19,952,057 — Total deaths: 732,689 — Total recoveries — 12,150,698 — Map.
U.S.: Total confirmed cases as of 5:30 p.m. ET: 5,074,059 — Total deaths: 163,275 — Total recoveries: 1,656,864 — Total tests: 61,792,571 — Map.
Politics: House will not hold votes until Sept. 14 unless stimulus deal is reached.
Business: Richer Americans are more comfortable eating out.
Public health: A dual coronavirus and flu threat is set to deliver a winter from hell — At least 48 local public health leaders have quit or been fired during pandemic.
Sports: The cost of kids losing gym class — College football is on the brink.
World: Europe's CDC recommends new restrictions amid "true resurgence in cases."

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Orion Rummler

Updated 39 mins ago - Health

5 states set single-day coronavirus case records last week

Data: Compiled by Axios; Map: Danielle Alberti/Axios

Five states set new highs last week for coronavirus infections recorded in a single day, according to the COVID Tracking Project and state health departments. Only one state — North Dakota — surpassed a record set the previous week.

Why it matters: This is the lowest number of states to see dramatic single-day increases since Axios began tracking weekly highs in June, and marks a continued decrease from late July.

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Kia Kokalitcheva

48 mins ago - Economy & Business

California judge orders Uber, Lyft to reclassify drivers as employees

Photo: ROBYN BECK/AFP via Getty Images

Uber and Lyft must reclassify their California drivers as employees under a preliminary injunction granted Monday by a San Francisco judge.

Why it matters: The ride-hailing companies, along with other gig economy firms, are resisting classifying their drivers as employees, which labor advocates say would give the workers greater benefits and rights. A new California law codified stricter requirements before companies can classify workers as contractors.