Commentary “Don’t they know it’s the end of the world …” — Skeeter Davis, 1962 President Biden has repeated a story he has told before, but repetition does not necessarily make it true. Speaking last week in Somerset, Massachusetts, where a coal-fired power plant once stood, Biden again recalled growing up in Claymont, Delaware, where he said…
US Sold 6M Barrels of Oil Reserves to China; Bill Gates Funds China to Recruit Scientists | NTD News Today
Ahead of this week’s GDP report, the White House downplaying worries of an economic downturn. Has the definition of recession changed? Selling U.S. oil reserves to China. It’s happening and it’s coming under heavy scrutiny. The company buying the oil has ties to Hunter Biden. Business magnate Bill Gates is found to have sponsored a…
Oil Rises for a Second Day on Supply Tightness Concerns
LONDON—Oil prices rose on Tuesday for a second day on increasing concerns about tightening European supply after Russia, a key energy supplier to the region, cut gas supply through a major pipeline. Brent crude futures rose $1.14, or 1.1 percent, to $106.29 a barrel by 1029 GMT, extending a 1.9 percent gain the previous day….
Oil Steady as Market Juggles Fed Hike With Supply Fears
LONDON—Oil prices were relatively steady on Monday as the market balanced supply fears with expectations that rise in U.S. interest rates would weaken fuel demand. Brent crude futures for September settlement rose 27 cents, or 0.26 percent, to $103.47 a barrel by 0909 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 8 cents,…
No One Wants to Drive Down This Memory Lane
Commentary One month ago, all anyone would—or could—talk about were gas prices. What the country was paying for fuel was outrageous, it seemed. Despite oil prices settling a touch after the big spike in March, this wasn’t the case for Americans paying only more at the pump. By the middle of June, the price per…
Oil Prices Fall as Libya Resumes Output, Global Demand Outlook Darkens
LONDON—Oil prices fell on Friday on a weakening global demand outlook and the resumption of some Libyan crude oil output. Brent crude futures fell $1.02 to $102.84 a barrel by 1023 GMT, while U.S. West Texas Intermediate (WTI) crude futures were down $1.08 cents to $95.27 a barrel. The global economy looks increasingly likely to…
Oil Prices Slump as Stockpiles and Rate Hikes Stoke Demand Fears
July 21, 2022
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LONDON—Oil prices fell by more than $5 on Thursday after higher U.S. gasoline stockpiles and an ECB rate hike stoked demand worries and returning oil supply from Libya eased supply concerns. Brent crude futures lost $3.88, or 3.6 percent, to $103.04 a barrel by 1224 GMT after slipping 0.4 percent in the previous session. U.S….
Falling Canadian Dollar Amid Rising Oil Prices: Bucks Tradition, Stokes Inflation
News Analysis The Canadian dollar not appreciating in tandem with oil has thrown a wrench into the Bank of Canada’s plans in its fight against inflation amid its claims that the economy will side-step a recession. Moreover, analysts see the loonie weakening and crude prices still benefiting from impediments to higher global supply—a combination that…
Russia Is China’s Top Oil Supplier for 2nd Month, Saudi Volumes Tumble: Data
July 20, 2022
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SINGAPORE—Russia held its spot as China’s top oil supplier for a second month in June as Chinese buyers cashed in on lower-priced supplies, slashing more costly shipments from Saudi Arabia, data showed on Wednesday. Imports of Russian oil, including supplies pumped via the East Siberia Pacific Ocean pipeline and seaborne shipments from Russia’s European and…
Gas Prices Could Soar Again As ‘Oil’s Second Act’ Is Coming, Expert Predicts
Even though gasoline prices have slid below $4.50 per gallon on average nationwide in what’s been a multi-week downward trend, an industry expert warns that the reprieve is likely temporary and drivers should brace for pump pain as oil readies to rally in a “second act.” The national average gasoline price on July 20 fell…
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