Tag: prices

BUSINESS

Oil Prices Fall To Eight-Month Low

Oil prices plunged more than five percent to an eight-month low today as the U.S. dollar hit its strongest level in more than two decades and on fears rising interest rates will tip major economies into recession. Brent futures fell $4.75 to $85.71a barrel. U.S. West Texas Intermediate crude fell $5.90 to $78.30. Support The Readers Bureau Buy A T-Shirt […]

BUSINESS

No Letup In US High Inflation

Fast rising prices continued to plague the US economy last month, though a drop in petrol costs provided some relief. The annual inflation rate fell to 8.3% in August. That was down from 8.5% in July, marking the second month of decline. But the costs of food, housing, and medical care continued to surge, disappointing economists expecting more widespread easing. […]

NEWS

UN Sees Food Prices Fall

According to press reports, the UN’s Food Prices Index has fallen for the fifth straight month, a sign that one of the main pressures pushing up the cost of living around the world could ease. The index fell to 138 in August and is now lower than it was before Russia’s invasion of Ukraine.  The countries were both major exporters […]

BUSINESS

Uber’s Business Booms In spite Of High Gas Prices

Uber’s revenue skyrocketed to $8.1 billion during the three months ending in June, doubling from the previous year as more customers turn to the ride-hailing service. In its quarterly earnings report, the company said the number of consumers and drivers using its platform is at all-time highs. Uber recorded 122 million people using its platform each month, up 21% from […]

BUSINESS

Oil Prices On The Up

Oil prices rose about 2% in volatile trade today but were still heading for a weekly decline as investors worried about a potential recession-driven demand downturn even though global fuel supplies remained tight. Brent crude futures rose $2.46 to $107.11 a barrel. U.S. West Texas Intermediate crude rose $2.10 to $104.83 a barrel. Support The Readers Bureau Buy A T-Shirt […]

BUSINESS

Oil Prices Tumble

Oil prices tumbled about 5% to a three-week low today, led by a slump in U.S. gasoline futures, as investors worried interest rate hikes from major central banks could slow the global economy and cut demand for energy. Also pressuring prices, the U.S. dollar this week rose to its highest since December 2002 against a basket of currencies. A stronger […]

BUSINESS

Oil Prices Fall

Oil prices sank after U.S. consumer prices rose more than expected and China imposed new COVID-19 lockdown measures. Brent crude fell $2.12 to $120.95 a barrel. U.S. West Texas Intermediate crude fell $2.02 to $119.49 a barrel. Both benchmarks remained on track for weekly gains of 1% and 0.5% respectively. The U.S Labor Department says the annual inflation rate rose […]

BUSINESS

Oil Prices On The Run

Oil prices jumped about 3% to a 13-week high today as U.S. demand for gasoline has kept rising despite record pump prices, on expectations China’s oil demand will increase, and on growing supply concerns in several countries. Brent futures rose $3.59, to $124.16 a barrel. U.S. West Texas Intermediate crude rose $3.49 to $122.90. Brent and West Texas Intermediate (WTI) […]

BUSINESS

U.K. Inflation Speeds Up At Fastest Rate In 40 Years

According to press reports, the U.K. is witnessing its fastest rise in prices in 40 years as higher energy bills take a stranglehold on millions of households. Inflation, the rate at which prices rise, leaped to nine percent in the 12 months to April, up from seven percent in March. Higher fuel and food prices, driven by the Ukraine war, […]

POLITICS

Emergency Fuel Waiver Set For The Summer Driving Season

In a press release, White House press secretary Jen Psaki noted that U.S. President Joe Biden is pulling out all the stops to ensure that the American people do not suffer unnecessarily through gas price hikes caused by the Russian invasion of Ukraine. She said, “Today, the Environmental Protection Agency announced that it is issuing an emergency fuel waiver to […]