Death from disease, preventative culling and restrictions on animal transport are creating market shortages and could lead to more Chinese demand. The ongoing trade war with China has hampered purchases, but some headway on a deal was made this week, helping to boost markets on Friday. Oil glides lower Oil prices fell every day this week, dropping from an eight-week high to a one-month low as former oil bulls bailed out of the market. Prices fell as U.S. oil producers in the Gulf of Mexico came back online after Hurricane Barry left production largely unscathed. Without the supply threat, the market drilled lower as it assessed the otherwise large U.S. oil supplies and production. By Friday, oil was worth $55.50, despite new threats in the Middle East. President Trump announced Thursday that the U.S. Navy shot down an Iranian drone, a claim that Iran denies. A simmering conflict with Iran threatens to shut down the flow of oil from the Middle East, which could send prices sky-high, … [Read more...] about Gold prices rise on US economic uncertainty
Business
Oregon State scientist sees future in homegrown hazelnuts
Shawn Mehlenbacher is on an endless search for the perfect nut.He walks quickly past trees of all shapes and sizes. As he stops to explain their characteristics, he poses to show how they grow, lifting his arms out or stretching them wide.Mehlenbacher and his team at Oregon State University oversee 50 acres of land dedicated to hazelnut breeding. He creates new hazelnut types resistant to disease that threatens the future of one of the state’s most important crops. The new hazelnuts could be crucial to Oregon’s plan to supply a growing domestic market. “This program at OSU is bigger than all the other programs in the world — and the world knows it,” said Mehlenbacher, a nut breeder who teaches horticulture and genetics courses at the university.Oregon harvests 99.9% of the country’s hazelnuts. Half of these are sold to China, where they are a popular snack food. The annual crop makes up less than 7% of the world’s hazelnut output. In the early … [Read more...] about Oregon State scientist sees future in homegrown hazelnuts
JoBoy’s Brew Pub closed ‘until further notice’
JoBoy’s Brew Pub, a fixture on the dining scene in Lititz, has said it’s closed “until further notice due to lease issues.”The Lancaster County restaurant posted a message on its Facebook page Friday announcing its closure. A similar message appears on the restaurant’s website. The restaurant said in its online messages to check back for updates. The brewpub opened in Lititz in 2014 after previously operating in Manheim. JoBoy’s featured a menu focused on barbecue. The brewpub offered more than a dozen of its own craft beers on tap, including the Manheim Red, Lititz Springs Lager along with IPAs, porters and other ales. Attempts to reach the management of the restaurant weren’t immediately successful Sunday.Lancaster County has seen a spike in craft breweries over the past decade. About 20 breweries are operating in Lancaster County. Read more: 21 breweries to check out in Central Pennsylvania … [Read more...] about JoBoy’s Brew Pub closed ‘until further notice’
Libya oil output at lowest in five months
Salma El Wardany, Bloomberg 7:20 am CDT, Sunday, July 21, 2019 Libyan oil production dropped to about 1 million barrels a day, its lowest in roughly five months, Libyan oil production dropped to about 1 million barrels a day, its lowest in roughly five months, Photo: Hussein Malla, Associated Press Photo: Hussein Malla, Associated Press Image 1 of / 1 Caption Close Image 1 of 1 Libyan oil production dropped to about 1 million barrels a day, its lowest in roughly five months, Libyan oil production dropped to about 1 million barrels a day, its lowest in roughly five months, Photo: Hussein Malla, Associated Press Libya oil output at lowest in five months 1 / 1 Back to … [Read more...] about Libya oil output at lowest in five months
BizBeat: Socket expanding fiber network in Jefferson City
Socket is expanding its fiber network through Jefferson City by adding around 10 miles of fiber. Currently, the company has around 44 miles of fiber in the area and construction has begun to add the additional 10 miles. The expansion will allow Socket to pass 1,525 businesses. Currently, the fibers pass 1,248 businesses. Passing a business means the fibers will run underground in front of or near the businesses, which will make adding service easier if people want it, President Carson Coffman said. Because the lines will already be there, adding new services will be quicker and less expensive than needing to extend lines to specific businesses. In other areas, Socket provides residential services for internet as well as TV and phone. In Jefferson City, it currently only offers business services but is looking into spreading into the residential market. Coffman said they are gathering interest in residential neighborhoods through the "fiberhood" tool on the Socket website in order to … [Read more...] about BizBeat: Socket expanding fiber network in Jefferson City