Russia accounted for a pandemic-elevated 7% of U.S. oil imports in 2021
While some lawmakers in Washington, D.C., are pushing for a ban on imports of Russian oil and petroleum...
While some lawmakers in Washington, D.C., are pushing for a ban on imports of Russian oil and petroleum products into the U.S., such a move likely wouldn’t have a huge effect on prices for Americans, according to one analyst.
The U.S. imported over half a million barrels per day of Russian crude and petroleum products last year, amounting to about 7% of total U.S. imports, according to Smith. “But that number was elevated because of the pandemic — the U.S. was a buyer of last resort because of weak demand in both Europe and Asia,” he said.
For Russian oil companies, a U.S. ban on their crude would have a limited effect as well, since Europe is their key market, while the U.S. is “only a small customer” for them, Smith said.
Nat-Gas Declines As Weekly EIA Inventories Fall Less Than Expected
April Nymex natural gas (...
April Nymex natural gas (NGJ22) on Thursday closed down by -0.040 (-0.84%).
Nat-gas prices Thursday gave up an early advance and closed moderately lower. Nat-gas prices retreated after weekly EIA nat-gas inventories fell -139 bcf, a slightly smaller draw than expectations of -141 bcf. Nat-gas prices Thursday initially moved higher on carry-over support from a surge in European gas price to an all-time high. European gas prices are soaring on concern the war in Ukraine will lead to disruption of Russian gas supplies to Europe.
Higher oil prices push Sri Lanka into deeper economic crisis
COLOMBO, Sri Lanka (AP) Sri Lanka’s already dire economic crisis has deepened as oil...
COLOMBO, Sri Lanka (AP) Sri Lanka’s already dire economic crisis has deepened as oil prices hover near $110 a barrel. Vehicles are stranded with empty tanks, power cuts are depriving students of study time for exams and shopping mall air conditioners are being switched off to conserve energy.
The South Asian island nation already was so short of hard currency that authorities had restricted imports of cars and fertilizer. It's now having to scrape into dwindling reserves to pay for ever more costly oil needed to keep the economy running.
U.S. stocks end choppy day lower as investors eye Russia-Ukraine developments
U.S. stocks finished lower on Thursday, with the information technology sector, taking...
U.S. stocks finished lower on Thursday, with the information technology sector, taking the brunt of the session’s losses as investors navigated headlines related to the Eastern European military conflict and monetary policy shifts.
The Nasdaq Composite IndexCOMP, -1.56%declined 214 points, or 1.6%, at 13,538, on a preliminary basis.
The Dow Jones Industrial AverageDJIA, -0.29%closed down 96 points, or 0.3%, to 33,795.
The S&P 500 index SPX, -0.53% finished the session off 23 points, or 0.5%, to reach about 4,364.
The 10-year Treasury noteTMUBMUSD10Y, 1.854% yields declined 1.9 basis points to points to 1.843%.
Markets have proved persistently unsettled as investors pore over developments between Russia and Ukraine and wrestle with the economic outlook against the backdrop of higher rates and perkier inflation.
Why are gas prices going up? Oklahomans can't keep up with rising cost per gallon
Average gasoline prices jumped nearly 8 cents this past week in Oklahoma — and are...
Average gasoline prices jumped nearly 8 cents this past week in Oklahoma — and are almost 80 cents higher than one year ago — prompting many Shawnee area residents to feel the pinch in their pocketbooks as everything seems to be going up in price.
Average gasoline prices for the area are at $3.24 per gallon, according to GasBuddy's latest survey of 2,294 stations in the state. Prices in Oklahoma are 26.3 cents per gallon higher than a month ago and stand at 77.4 cents per gallon higher than a year ago.
