And, with surging oil prices keeping gasoline high, so has anyone who’s filled up a car. Energy costs have been one of the main drivers of what’s become the highest inflation in a generation. In recent days, the price of a barrel of U.S. benchmark crude oil hit a seven-year ...
For some analysts, the reason crude prices have yet to move even higher is because the oil market is short. This refers to a trading strategy in which an investor hopes to profit if the market value of an asset declines. “There is a very large short position, not only in oil, you [...
The soaring cost of olive oil, which Brooks sources from Italy, forced him to raise prices this month 5%-10%, he said, with about half of the increase due to the cost of olive oil. Most of his pizzas went up $1, with some going up $2, including the lamb meatball and venison sau...
9. with the crashing oil prices the mullahs are beyond desperate (the price per barrel produced in iran already the lowest of the OPEC countries) and they can no longer easily sell oil on the black market thanks to the sanctions. *** trump also isn't sending planeloads of...
We have all heard at least a partial explanation as to why West Texas Intermediate (WTI) and Brent prices are so far apart. We have been told that the Midwest is oversupplied because of all of the Canadian imports, and the crude oil cannot get down as far as the Gulf Coast, because ...
Read MoreThe next stop for oil prices “Certainly half of it’s about financial flows and which players are pulling back. It could stabilize at this point,” said Eric Lee, energy analyst at Citigroup. “You flushed out a little more length in the market, so perhaps there’s less impetus...
Technically, the refinery cannot be viably revived without expensive major modifications to meet the latest global and national products standards. Facility upgrade would also be essential to get maximum product value from crude oil. Going further downstream, indications are...
So why are gas prices so high? Experts say the biggest factor is globally priced crude oil NEW YORK-- Gas prices continue to inch up and have now reached historically high levels, with the national average for a gallon sitting at $5, up nearly $2 from last year...
Oil and the wider economy The oil price and its relationship with the economic recovery, bond prices and inflation isgoing to be vitalto the post-COVID world order. Oil prices are closely linked to inflation. This is because oil has a multiplier effect as it circulates through markets: for...
Oil prices are down from the record highs seen shortly after the invasion, where the Russian supply risk shot prices towards $130 per barrel (bbl) and gas towards 300 euros/MWh, with brent crude now trading around the $110/bbl mark, following the European Union’s plan to cease using Rus...