Hungary Scraps Fuel-Price Cap After Nationwide Gasoline Shortage
(Bloomberg) Hungarian Prime Minister Viktor Orban’s government...
(Bloomberg) Hungarian Prime Minister Viktor Orban’s government scrapped a controversial fuel price cap after a gasoline shortage swept the country.
The cap that had set gasoline costs at 480 forint ($1.2) per liter, by far the cheapest in the European Union, ceased at 11 p.m. local time on Tuesday, Cabinet Minister Gergely Gulyas said at a late-night briefing in Budapest. He blamed EU sanctions on Russian oil for roiling supplies.
Modestly lower open puts U.S. stocks on track for fifth straight daily decline
U.S. stock indexes opened lower on Wednesday morning, struggling to recover ground after a four-day losing...
U.S. stock indexes opened lower on Wednesday morning, struggling to recover ground after a four-day losing streak amid worries about the chances of an economic downturn in coming months.
S&P 500SPX, -0.23% dropped 2 points, or 0.1%, to 3,938
Dow Jones Industrial AverageDJIA, -0.05% shed 9 points, or less than 0.1%, to 33,587
Nasdaq Composite COMP, -0.69% fell 13 points, or 0.1% to 10,999
You may pay nearly $8 for a McDonald's Big Mac in Massachusetts versus $3 in Oklahoma. A...
You may pay nearly $8 for a McDonald's Big Mac in Massachusetts versus $3 in Oklahoma. A college student created a Fast Food Index that tracks the cost of popular items from McDonalds, Taco Bell, Chipotle, and Chick-fil-A — and found disparities in prices throughout the country, and even for locations across the street from one another. Here’s why.
Crude oil inventories dropped for the fourth week in a row this week, by 6.426 million barrels,...
Crude oil inventories dropped for the fourth week in a row this week, by 6.426 million barrels, American Petroleum Institute (API) data showed on Tuesday, after dropping 7.85 million barrels in the week prior. Analysts anticipated a 3.884 million barrel draw.
U.S. crude inventories have grown by just 6 million barrels so far this year, according to API data. Meanwhile, crude stored in the nation’s Strategic Petroleum Reserves sunk by nearly 32 times that figure so far this year— by 206 million barrels.
Cushing inventories rose by 30,000 barrels in the week to December 2, compared to last week’s reported decrease of 150,000 barrels.
Benchmark U.S. crude oilfor January delivery fell $2.68 to $74.25 a barrel Tuesday. Brent crude for February delivery fell $3.33 to $79.35 a barrel.
Wholesale gasoline for January delivery fell 5 cents to $2.15 a gallon. January heating oilfell 8 cents to $2.92 a gallon. January natural gasfell 11 cents to $5.47 per 1,000 cubic feet.
