After oil and gas prices spiked in the fall, people had good reason to hope that prices would come down. President Joe Biden took action in November to try to suppress rising energy prices by announcing that the U.S. and other nations would release oil from their strategic petroleum rese...
The price of crude oil has dropped significantly compared to a month ago, but drivers in the U.S. are still experiencing sticker shock at the gas pump. Crude oil is down more than $20 a barrel, or a decline of almost 20%, from its March peak. But gas prices remain elevated,...
The article offers information on the problems encountered by oil refineries in Alaska. These companies are caught in a complex web of increasingly expensive environmental mandates by the government, aging equipment, small markets, expensiv...
Gas prices arehitting record highsalmost daily, causing financial pain at the pump for millions of Americans. But it's also spurring questions about why fuel is so expensive — and who's to blame. Consumers are also wondering when they might see some relief. Not surprisingly, soaring gas pri...
Indeed, prices are rising dramatically at the pump and not expected to drop anytime soon. Whilehistorically high levels of speculation in WTI crudehas helped push the price rise in US oil, the tumult in the Libya and concern that it could spread elsewhere and disrupt oil is the primary culp...
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 ...
(EIA). So, a major reason gas prices are so high is that oil prices are still higher, on average, than they were before the pandemic and Russia’s invasion of Ukraine. That’s based on the price of West Texas Intermediate crude, which is used as the benchmark for oil prices in ...
This demand for oil among the world’s growing economies—China’s, India’s, Brazil’s—has been running up against limited supplies, which is one reason crude oil prices are rising. Another price driver is the fear that the growing tension with Iran over nuclear weapons development might di...
The Federal Reserve is unlikely to signal any changes to its interest-rate outlook this month, although traders are now betting the central bank will boost them only once this year.
All of these factors drove the price of crude oil to less than $40 per barrel. 1. The Dollar Strengthens In 2015, the dollar was at a 12-year high against the euro.2 That put pressure on market prices because commodity prices are usually quoted in dollars, and they will fall when the...