After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
Trump said he has "been thinking about payroll taxes for a long time" — and he cautioned that "whether or not we do something now, it's not being done because of recession."Politicsread more
Market bull Jeff Saut told CNBC on Tuesday that the lows are in and the market is headed "much higher."Marketsread more
Urban Outfitters reported earnings and same-store sales for the second quarter that beat analyst expectations, while revenue fell short.Retailread more
President Donald Trump believes he has quite the bargaining chip with the European Union.Marketsread more
Some Apple employees have become disillusioned with the group's culture, where some have thrived while others feel sidelined.Technologyread more
The United States does not have a defense against hypersonic weapons, which can travel at least five times the speed of sound, or a little more than a mile per second....Defenseread more
President Donald Trump renewed calls Tuesday to readmit Russia to the G-7 ahead of the group's summit in Biarritz, France, this weekend.Politicsread more
Biden has shown staying power at the top of a jammed Democratic field even as polling numbers for Sanders, Warren and Harris wax and wane.2020 Electionsread more
The FDIC on Tuesday votes to approve a five-agency revision of the post-crisis regulation known as the Volcker Rule.Financeread more
(Adds more on the amount of gas flowing through pipe and the customers buying that fuel)
Aug 1 (Reuters) - A gas line explosion early on Thursday in a residential community in rural Kentucky sent up a ball of flame that could be seen for miles, killing one person and setting several houses on fire, a local sheriff said.
The explosion, in Moreland, a community about 40 miles (65 km) south of Lexington, shut a natural gas pipeline operated by Canadian energy firm Enbridge Inc, the company said in a statement.
A woman killed in the explosion was found outside her home, Lincoln County Sheriff Curt Folger said. Local media said at least five others were injured.
"We're trying to get a head count," Folger added.
About five homes caught fire and firefighters worked to extinguish those blazes, Folger said.
Flames from the blast rose about 300 feet (100 meters) in the air, Lexington television station WKYT reported, citing emergency managers. The WKYT meteorologist said the fire showed up on radar, according to the station.
"It woke us up and it was just a big roar and it was fire going up into the sky as far as you could see," area resident Sue Routin told Lexington television station Lex 18.
The pipeline was 30 inches (76 cm) in diameter, Folger said, and was shut off after the blast.
The pipeline is part of Enbridge's Texas Eastern system, the company said. The system connects Texas and the U.S. Gulf Coast with states in the Northeast and Mid-Atlantic regions, according to the company's website.
The blast cut the amount of gas flowing on the pipe south of Enbridge's Danville compressor station in Kentucky to zero. Prior to the explosion about 1.7 billion cubic feet per day (bcfd) of gas were moving south through the area from the Marcellus and Utica shale in Pennsylvania, Ohio and West Virginia toward the Gulf Coast, according to pipeline flow data from Refinitiv.
That represents about 2% of the 90 bcfd of gas currently being produced in the Lower 48 U.S. states. One billion cubic feet is enough to supply about five million U.S. homes.
The gas was supplying utilities along the pipe route and other consumers, including industrial facilities and liquefied natural gas (LNG) export terminals in the Gulf Coast.
Energy traders said the pipe shutdown would be disruptive to affected customers and would likely boost the gas costs, at least temporarily, but noted those consumers should have no problem switching to other fuel suppliers in the Gulf Coast or Northeast until Enbridge restores service.
Enbridge told customers it could not immediately estimate when the pipe would return to service.
"Our first concern is for those impacted by this incident and ensuring the safety of the community," Enbridge said in a statement, noting it had isolated the affected line and was working closely with emergency responders to manage the situation.
The explosion followed another fatal incident on Wednesday at an oil and gas site in Colorado, north of Denver.
In the Colorado incident, firefighters responding to a fire at an oil tank found an unresponsive man on top of the tank, at the site just outside the community of Windsor, said Windsor Severance Fire Rescue Chief Kris Kazian. The victim was later pronounced dead.
The site was operated by Denver-based firm Great Western Oil & Gas Co. A company representative could not be reached for comment. (Reporting by Alex Dobuzinskis in Los Angeles, additional reporting by Scott DiSavino in New York, Keith Coffman in Denver and Arpan Varghese and Swati Verma in Bengaluru Editing by David Gregorio and Steve Orlofsky)