Oil prices spiked 5 percent Wednesday after disruptions to Kazakh crude exports and growing apprehension regarding European Union sanctions on Russian energy imports as the U.S. president meets with counterparts on the continent amid worsening conflict in Ukraine. Brent has since stabilized after opening Thursday at $117.20 a barrel and trading at $117.58 as of…
Market Pulse: Oil Prices Spike After Kazakh Supply Disruption and Uncertainties in Europe, Dollar and Ruble Gain
March 24, 2022
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Market Pulse: Fed’s Hawkish Tilt, Firming Dollar, and Fluctuating Oil Prices
March 22, 2022
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Business & Economyeconomic policieseconomyFed chairFederal Reserve bankjerome powellMarketsOil priceRussia-Ukraine WarUSUS News
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The U.S. dollar has strengthened and the benchmark 10-year Treasury yield touched its highest level in 3 years following hawkish remarks by the Federal Reserve chair, while oil prices remained volatile after briefly extending gains as Europe mulls sanctioning Russian energy imports. Federal Reserve Chair Jerome Powell said at a National Association for Business Economics…
Ukraine Risk Far From Over, US Could Enter Recession in 2023: Goldman Sachs
Goldman Sachs is warning that markets are a bit too relaxed about the risk posed by the Ukraine situation and economists at the bank have predicted the American economy to fall into recession next year. Current prices in the market are no longer reflecting the negative scenarios that could pan out from the Russia-Ukraine conflict….
Who’s to Blame for Gas Prices?
March 16, 2022
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Business & Economycommoditieseconomic policieseconomyEuropegas pricesInternationalMarketsOil pricePolicies & ImpactsPoliticspresident joe bidenRussia-Ukraine WarUSUS NewsVladimir PutinWorld
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News Analysis The drain Americans feel from increased gasoline prices owes to policy decisions by President Joe Biden, the Russian invasion of Ukraine, and several other factors, according to several experts. Gasoline now costs about $4.30 a gallon on average, according to GasBuddy. That’s the most expensive since the United States built up its refining…
Who’s to Blame for Higher Gas Prices?
March 16, 2022
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Business & Economycommoditieseconomic policieseconomyEuropegas pricesInternationalMarketsOil pricePolicies & ImpactsPoliticspresident joe bidenRussia-Ukraine WarUSUS NewsVladimir PutinWorld
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News Analysis The drain Americans feel from increased gasoline prices owes to policy decisions by President Joe Biden, the Russian invasion of Ukraine, and several other factors, according to several experts. Gasoline now costs about $4.30 a gallon on average, according to GasBuddy. That’s the most expensive since the United States built up its refining…
Oil Could Reach $300 a Barrel, Warns Moscow in Light of New Sanctions
March 8, 2022
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Business & EconomyEuropeMarketsNew Sanctions on RussiaNord Stream 1Oil priceRussia-Ukraine WarRussian Oil TradeUSUS NewsWorld
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Crude oil prices could reach more than $300 per barrel if the West goes ahead with its plan to sanction Russian energy supplies, Moscow warned in a statement on state television. “It is absolutely clear that a rejection of Russian oil would lead to catastrophic consequences for the global market,” Russian Deputy Prime Minister Alexander…
Traders Betting on $200 per Barrel Oil in March
March 7, 2022
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Brent crude oilBusiness & EconomycommoditieseconomyMarketsOil priceoil tradersRussian Oil TradeUSUS News
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As the Russia–Ukraine conflict continues to rattle global markets, some traders are betting on crude oil prices going over $200 per barrel this month suggesting relief, in terms of fuel and related costs, is still far off. The prices of call option contracts for higher crude oil prices rose on Monday according to an analysis…
The Real Culprit Behind Today’s High Oil Prices
Commentary Inflation is a tax. … An awful, regressive tax. Meaning, it negatively affects the poor much more than the wealthy. Especially where energy prices are concerned. It hits those hardest who can least afford it. And because it hits so many people so hard, folks (and politicians) tend to look to Washington for both…
Energy Department Approves Release of 2 Million Barrels of Crude to Exxon
January 2, 2022
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Business & EconomycommoditiesCompanieseconomyExecutive BranchExxon Mobil Corp.MarketsOil priceOPEC oilPoliticsStrategic Petroleum ReserveUSUS News
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The U.S. Department of Energy has approved the release of two million barrels of crude oil to ExxonMobil from the Strategic Petroleum Reserve (SPR) on Dec. 30, as part of the initiative undertaken in November by the federal government to lower gasoline prices in the country. This is the third exchange of crude oil with…
Biden’s Crude Mistake
Commentary Recently, President Joe Biden and Chinese leader Xi Jinping held a virtual summit where they discussed the possibility of a joint release of crude oil from their respective country’s Strategic Petroleum Reserves in hopes of easing inflation. With inflationary effects already likely to ease, the simultaneous tapping of reserves could cause financial conditions to…
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