Gas prices are now the most expensive in US history, breaking record from 2008
After days of dramatically rising gas prices in wake of Russia's invasion of Ukraine, ...
After days of dramatically rising gas prices in wake of Russia's invasion of Ukraine, the national average for a gallon of gas is now the highest in United States history, breaking the record that stood for nearly 14 years.
As of Tuesday morning,the cost of regular gas in the U.S. is $4.17, according to AAA, up from $4.06 on Monday. Last week, the average cost was $3.60. The previous national average high was $4.11, set on July 17, 2008.
The cost for diesel is also nearing the record of $4.84, which was also set in July 2008. The current price for a gallon of diesel is $4.75, over double what it was in October 2020.
U.S. natural gas closes lower after European gas skyrockets
U.S. natural gas prices (...
U.S. natural gas prices (NG1:COM)settled -3.6% at $4.833/MMBtu, reversing sharp overnight gains and pulling back from Friday's $5.016 closing price that was the highest in more than a month, as uncertainty over Russia's war with Ukraine gave way to forecasts for warmer weather in the U.S.
European energy prices had skyrocketed earlier, as futures for natural gas on the Dutch TTF reached as high as $115/MMBtu before puling back to ~$93.
US OKs 2.7 Million-barrel Release from Strategic Oil Reserves to Exxon Mobil
The U.S. Department of Energy has approved the 12th exchange of 2.7 million barrels of crude...
The U.S. Department of Energy has approved the 12th exchange of 2.7 million barrels of crude oil for release to Exxon Mobil Corp. from the nation’s Strategic Petroleum Reserve (SPR), the department said in a statement on March 7.
The move was part of the Biden administration’s approval for such releases authorized in November 2021 as part of a larger effort to boost the U.S. fuel supply, it added.
On March 1, The U.S. vowed to release another 30 million barrels of oil as part of a global 60 million barrel pledge in an effort to shore up energy markets amid the ongoing Russian invasion of Ukraine and said it could take further steps as needed.
The Dow Jones Industrial Average slid nearly 800 points Monday to close in a correction...
The Dow Jones Industrial Average slid nearly 800 points Monday to close in a correction as surging oil prices deepened concerns about inflation and economic growth.
The S&P 500 fell 127.78 points, or 3%, to close at 4201.09, its largest one-day percentage decline since October 2020. The broad U.S. stock index entered a correction on Feb. 22 as tensions in Eastern Europe escalated.
The Dow Jones Industrial Average dropped 797.42 points, or 2.4%, to 32817.38. The Nasdaq Composite slumped 482.48 points, or 3.6%, to 12830.96.
