ExxonMobil CEO Darren Woods claimed that every passenger car in the United States and the world will be electric by the year 2040. “With respect to electric vehicles, the first thing we did was to ask ‘what’s the relevance? How material is it to our business?’ And we did some work very early on and said,…
US Goods Trade Deficit Narrows; Inventories Increase Solidly
WASHINGTON—The U.S. trade deficit in goods narrowed in May as exports increased strongly, suggesting that trade could contribute to economic growth in the second quarter for the first time in nearly two years. The report from the Commerce Department on Tuesday also showed solid increases in wholesale and retail inventories. While those gains, combined with…
OPEC Boosts Oil Income in 2021, Well Completions Drop
LONDON—OPEC’s oil revenue surged in 2021 as prices and demand recovered from the worst of the COVID-19 pandemic, while the number of its members’ active rigs posted a modest rebound and new completed wells declined, data from the group showed. The value of petroleum exports by the 13-member Organization of the Petroleum Exporting Countries reached…
Euro Holds Below $1.06 as Lagarde Sticks to Script
LONDON—The Aussie and the Canadian dollar climbed on Tuesday on firmer oil prices while the euro held below $1.06 as European Central Bank (ECB) President Christine Lagarde offered no fresh insight on the central bank’s policy outlook. Oil prices are up 10 percent in barely a week on supply constraint concerns with Brent crude holding…
Stocks, Oil Edge Up as China Relaxes Quarantine Rules
LONDON—Global shares moved into positive territory on Tuesday while oil prices firmed following China’s decision to ease some quarantine requirements for international arrivals. China slashed the quarantine time for inbound travelers by half in a major easing of one of the world’s strictest COVID-19 curbs, which have deterred travel in and out of the country…
Oil Billionaire Blasts Biden’s Gas Price Blame Game, Says Only One Thing Will Fix Inflation
June 27, 2022
admin
Business & Marketscommoditieseconomic policieseconomyExecutive Branchgas priceinflationInvestmentJoe BidenMarketsPoliticsrecessionUSUS News
0 Comment
New York billionaire and refiner John Catsimatidis, who owns hundreds of gas stations, blasted President Joe Biden’s pinning the blame on high prices at the pump on gas station owners, arguing there’s only one solution for inflation—boosting production of crude. Catsimatidis made the remarks in an interview on Fox News on June 24, after being…
Goldman Sachs Analyst: ‘Incredibly Bullish’ on Oil, Upside Risk is ‘Tremendously High’
June 27, 2022
admin
BullishBusiness & Marketscommoditieseconomyeuropean sanctions on russiaGoldman Sachshigher oil pricesMarketsRussian Oil TradeUS
0 Comment
Oil prices are heading up in summer 2022 according to Goldman Sachs analyst Jeff Currie, who believes prices are being mainly driven by underinvestment in the sector. “The bottom line is the situation across the energy space is incredibly bullish right now. The pullback in prices we would view as a buying opportunity,” said Currie,…
Gasoline Prices Fall Below $4.90 a Gallon as Recession Fears Weigh
Gasoline prices in the United States fell below $4.90 on Monday as fears of an upcoming recession mount. The national average for a gallon of gasoline is $4.897 as of June 27, according to AAA, up from $3.095 this time a year ago but down from the historic highs of over $5 a gallon seen earlier this month….
Oil Prices Slip Ahead of G7 Talks on New Russian Sanctions
June 27, 2022
admin
Business & Marketscommoditieseconomic policieseconomyEuropeglobalMarketsOilrecessionRussia-Ukraine WarstocksWorld
0 Comment
LONDON—Oil prices edged lower on Monday in a volatile session as investors waited for any moves against Russian oil and gas exports that might come out of a meeting of leaders of the Group of Seven (G7) nations in Germany. The prospect of even tighter supplies loomed over the market as western governments sought ways…
Stocks Extend Bear Market Bounce as Inflation Angst Eases
MILAN/TOKYO—World shares extended their bounce on Monday, building on Friday’s strong Wall Street close as off-peak oil prices helped sentiment improve and temper fears of prolonged inflation. Strong morning gains in Europe and a rally across Asian markets after China further eased COVID-19 restrictions drove the MSCI’s benchmark for global stocks up for a third…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`