Tag: prices

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 […]

BUSINESS

Oil Prices Declined At The End Of The Week

This was driven by the prospect of higher interest rates, weaker global growth, and COVID-19 lockdowns in China. These factors could hurt demand, even as the European Union weighs a ban on Russian oil. Brent crude was down $1.48 at $106.85 a barrel. U.S. West Texas Intermediate crude futures declined $1.51 to $102.27 per barrel. Support The Readers Bureau Buy […]

BUSINESS

Oil Prices Return To Upward Trend

Crude futures returned to its upward trend moving to more than $100 per barrel on Thursday after a Kremlin spokesman described reports claiming solid progress in Russia-Ukraine talks as wrong. Vladimir Putin also vowed not to bow to Western pressure in ceding Moscow’s invasion of Ukraine. Brent settled up $8.62, ending the session at 106.64 a barrel.  U.S. West Texas […]

BUSINESS

Oil Prices Roller Skate

Oil prices retreated on Friday after wild swings during the week, as the prospect of extra supply from Iran returning to the market outweighed fears of a possible Russian invasion of Ukraine, which could disrupt supply. Brent crude futures fell 68 cents, or 0.7%, to $92.29 a barrel, extending a 1.9% drop from the previous session. U.S. West Texas Intermediate […]

BUSINESS

U.S. Inflation Rate Gallops To 7.5% In January

Householders in the U.S. see prices of goods and services race upwards to more than anticipated last month, pushing annual inflation up to 7.5 percent – the highest rate since 1982. Excluding the cost of food and energy, which tend to be more volatile, prices increased by six percent between January 2021 and January 2022.  Food prices rose seven percent […]

BUSINESS

BP Sees Highest Profit In Eight Years

BP plc the British multinational oil and gas company has reported its highest profit for eight years, prompting calls for a windfall tax on energy companies. For the full year of 2021, BP recorded a profit of $12.8 billion compared to a loss of $5.7 billion in 2020. It made more than $4 billion in the final quarter of the […]