Gas prices are headed to $6 by Labor Day – here are the main reasons why
President Biden’s ...
President Biden’s recent letter to refiners to complain of high gasoline prices is the only positive action he can take on behalf of consumers. But it won’t keep the average price at the pump in the U.S. from climbing another dollar by September and topping $6.
Here’s why: shrinking U.S. refining capacity even as oil CL output recovers from COVID-19 pandemic lows, and a well-known shift in European demand away from Russia has cut into U.S. stockpiles more deeply than many realize. Plus Biden’s ability to act is further limited by underappreciated policy decisions that, ironically, he helped to make.
Heat wave brings new round of dangerous temps to millions this week
Millions of Americans will face dangerous heat this week, as a new heat wave is expected to bring near...
Millions of Americans will face dangerous heat this week, as a new heat wave is expected to bring near triple-digit temperatures to the South.
The Southeast and the Plains will experience temperatures between 10 and 20 degrees above average with humid conditions, according to the National Weather Service.
Oil wobbly after near 6% slump on economic concerns
SINGAPORE (Reuters) - Oil prices wobbled early on Monday as investors refocused on tight...
SINGAPORE (Reuters) - Oil prices wobbled early on Monday as investors refocused on tight supplies, though sentiment was still fragile after 6% slump in the previous session amid concerns about slowing global economic growth and fuel demand.
Brent crude futures gained 20 cents, or 0.2%, to $113.32 a barrel by 0105 GMT, after rising as much as 1% earlier. Front-month prices tumbled 7.3% last week, its first weekly fall in five.
U.S. West Texas Intermediate crude was at $109.55 a barrel, down 1 cent after rising more than $1 in early morning deals. Front-month prices dropped 9.2% last week, the first decline in eight weeks.
Bitcoin rallies back above $20,000 on Sunday, after hitting 18-month low
Bitcoin prices rallied Sunday, topping the $20,000 level again after falling...
Bitcoin prices rallied Sunday, topping the $20,000 level again after falling to an 18-month low Saturday amid a weeks-long cryptocurrency rout.
BitcoinBTCUSD, -0.24% surged about 16% in the past 24 hours, as of 5 p.m. Sunday, to $20,598, making up for much of its Saturday losses, when it slid as low as $17,630, according to Coinbase data.
EthereumETHUSD, -1.32% prices surged as well Sunday, jumping 26% to $1,137 as of 5 p.m. Sunday.