President Joe Biden’s request that Congress pass a three-month suspension of the federal gasoline tax “is dead on arrival,” U.S. Senator John Thune, the second-ranking Republican in the Senate, said Continue Reading
The U.S. economy faces elevated risks of a recession over the next one to two years due to rising imbalances in markets for goods and services, including labor, according to Continue Reading
Jay Powell said a US recession is “certainly a possibility” and warned that avoiding a downturn now largely depends on factors outside the Federal Reserve’s control. In testimony to the Continue Reading
The American Petroleum Institute (API) reported a build this week for crude oil of 5.607 million barrels, while analysts predicted a draw of 1.433 million barrels. It is the first Continue Reading
Top U.S. liquefied natural gas (LNG) exporter Cheniere Energy Inc (LNG.A) on Wednesday gave the financial go-ahead to an $8 billion expansion of its Corpus Christi, Texas, plant and signaled Continue Reading
Beijing’s caution in challenging U.S. supremacy around the globe might be dissipating. Practical ramifications for the global oil sector from China’s geopolitical shift would be enormous. President Xi has signed Continue Reading
Shipping containers are loaded onto trucks at the Port of Boston in Massachusetts. Supply constraints, exacerbated by Russia’s war in Ukraine this year, account for about half of the surge Continue Reading
Operable refining capacity in the United States hit a nearly decade low in 2022, the EIA’s latest Refining Capacity Report showed on Tuesday. U.S. refining capacity fell this year to Continue Reading
U.S. gasoline demand increased by 5.5 percent on Sunday compared to the previous Sunday and was 11.4 percent higher than the average U.S. demand of the past four Sundays, according Continue Reading
American drivers are starting to buy less gasoline as they feel the economic burden of record prices that continue to hover near $5 a gallon.In the first full week of June, gasoline sales at Continue Reading
