News Analysis After the Biden administration released 180 million barrels of oil last year from its Strategic Petroleum Reserve (SPR) in an attempt to rein in gasoline prices, Washington is now facing a dilemma while trying to replenish the SPR as it deals with price and funding challenges. The release of 180 million barrels of…
Washington’s Dilemma in Trying to Refill Petroleum Reserves After 220 Million Barrel Drawdown
Ex-Treasury Secretary Warns of Deficit ‘Doom Loop,’ Says Fiscal Debates Need to Be ‘Back on the Table’
October 24, 2022
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2022 Midterm ElectionsBusiness & MarketsdeficiteconomyinflationOil pricePoliticsrecessionSPRUSUS News
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Former Treasury Secretary Larry Summers said in a recent Bloomberg interview that fiscal debates need to be put “back on the table” as surging borrowing costs risk a potential deficit “doom loop.” Summers made the remarks during Friday’s edition of Bloomberg’s “Wall Street Week,” in which he said that the Biden administration’s big spending initiatives,…
US Treasury’s Yellen Says Oil Prices Could Spike in Winter
U.S. Treasury Secretary Janet Yellen on Sunday said Americans could experience a spike in gas prices in the winter when the European Union significantly cuts back on buying Russian oil, adding that a proposed Western price cap on Russia’s oil exports is being designed to keep prices in check. “It’s a risk, and it’s a…
Yellen Says Oil Prices Could Spike in Winter
Treasury Secretary Janet Yellen on Sunday said Americans could experience a spike in gas prices in the winter when the European Union significantly cuts back on buying Russian oil, adding that a proposed Western price cap on Russia’s oil exports is being designed to keep prices in check. “It’s a risk, and it’s a risk…
Oil Prices Near 3-Week High as Supply Worries Dominate Market Sentiment
Crude oil prices were trading close to a three-week high on April 18 amidst fears of supply disruption due to the ongoing Ukraine crisis. Brent crude oil futures hit a high of $113.80 per barrel, a level unseen since March 30. U.S. West Texas Intermediate futures hit $105.55 per barrel, which was also the highest…
Oil Climbs on Failed Peace Talks, Steadies on Reduced Demand from China
April 13, 2022
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Oil prices climbed early Tuesday after Russia–Ukraine peace talks reached a stalemate, but eased toward the end of the day’s trading session as China and Japan—the world’s top oil consumers—reported weak economic data. Brent oil started April 12 at $100.14 and climbed over 4.7 percent to a high of $104.88 before hitting resistance and closing…
Oil Declines to Lowest Level Since March Following IEA Announcement, Lockdowns in China, and Strengthening Dollar
April 8, 2022
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Oil settled lower for a third straight session supported by the news of a coordinated effort by member states of the International Energy Agency (IEA) to release 60 million barrels into the global marketplace, renewed lockdowns in power-hungry China, indecision in Europe, and a strong dollar. Brent started April 6 trading at $106.16, and dropped…
Irrational Attacks Against Oil Companies
Commentary Americans are chafing at high gasoline prices. The average American understands the basic economic law of supply and demand well enough to realize that the cure for today’s higher prices would be an increased supply of oil. We Americans also have the good fortune of having abundant supplies of oil within American territory, and…
Russian-Ukraine War Hurts Global Economy, CCP to Lose More In Long Run: Strategist
March 27, 2022
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ChinaChina Business & Economychina-russia relationsEuropeInternationalInternational RelationsOil pricePolicies & ImpactsRussia-UkraineRussia-Ukraine WarUSUS-China relationsWorld
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The Russian-Ukrainian war has caused both Russia and Ukraine to suffer, and the global economy has also been dealt a heavy blow. However, some countries have benefited more than others from the war. Mike Sun, a North American investment strategist and China expert, stated that resource-based economies, such as Canada and Australia, have benefited relative…
Russian-Ukraine War Hurts Global Economy, CCP to Lose More In Long Run: Analyst
March 27, 2022
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ChinaChina Business & Economychina-russia relationsEuropeInternationalInternational RelationsOil pricePolicies & ImpactsRussia-UkraineRussia-Ukraine WarUSUS-China relationsWorld
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The Russian-Ukrainian war has caused both Russia and Ukraine to suffer, and the global economy has also been dealt a heavy blow. However, some countries have benefited more than others from the war. Mike Sun, a North American investment strategist and China expert, stated that resource-based economies, such as Canada and Australia, have benefited relative…
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