Why $5 Gasoline Won’t Cause A Recession
Oil prices fell on Wednesday after a report was released by the EIA showing an uncharacteristic slowdown in gasoline demand. Despite this demand destruction, it is unlikely that high oil Continue Reading
EU Imports More U.S. LNG Than Russian Pipeline Gas For The First Time Ever
For the first time in history, U.S. LNG overtakes Russian piped gas in EU. IEA: The drop in Russian supply calls for efforts to reduce EU demand to prepare for Continue Reading
Iran, U.S. Nuclear-Deal Talks End Without Progress
The reactor building of the Bushehr nuclear power plant in southern Iran. Indirect talks between Iran and the U.S. on reviving the 2015 nuclear deal ended without a breakthrough on Continue Reading
U.S. crude stocks down, fuel inventories up as refiners hit the gas -EIA
U.S. crude stocks fell in the latest week but fuel inventories rose, the government said on Wednesday,as refiners picked up activity, while industry production hit its highest in more than Continue Reading
Companies cut spending, jobs as outlook grows less certain
Executives at electric car marker Tesla, drug maker Novartis and retailer Bed Bath and Beyond are cutting spending or jobs while others are shelving projects or deals as inflation rages Continue Reading
Road-Fuel Demand to Peak by 2027 With Efficiency Improvements
‘More Pain at the Pump to Come,’ Stephen Schork Says Global road fuel demand will peak in five years though it will be decades before shifts in consumption reshape transportation’s Continue Reading
Biden administration oil, gas auctions kick off with thin industry response
The Biden administration’s first sale of oil and gas drilling rights on federal land garnered thin industry interest on Wednesday while environmental groups filed two separate lawsuits seeking to invalidate Continue Reading
Consumer Spending Gains Likely Cooled in May, Economists Say
Household spending may be running out of momentum, economists say, as Americans face the highest inflation in four decades and incomes that haven’t kept up with price increases. U.S. consumers Continue Reading
Delayed EIA Inventory Report Shows Crude Draw, Products Build
Oil prices climbed higher today after the U.S. Energy Information Administration reported a crude oil inventory draw of 2.8 million barrels for the week to June 24. A day earlier, Continue Reading
U.S. sends Ukraine $1.3 billion in emergency economic aid
The Treasury Department on Wednesday announced the delivery of $1.3 billion in economic aid to Ukraine, as the United States seeks to help the beleaguered nation respond to the enormous Continue Reading