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.
Natural gas futures are lower ahead of weekly inventory data
Natural gas futures are lower by ~7 cents ahead of weekly inventory data as weather moderates into the...
Natural gas futures are lower by ~7 cents ahead of weekly inventory data as weather moderates into the spring shoulder season in between peak winter heating and summer cooling. Analyst consensus calls for a draw of 141 bcf.
Energy stocks have opened mixed, with E&Ps continuing to be the primary beneficiary of rising...
Energy stocks have opened mixed, with E&Ps continuing to be the primary beneficiary of rising oil prices, while integrated and OFS are more mixed. Oil prices continued their unrelenting ascent this morning amid expectations of further global supply tightening due to the Ukrainian invasion and still existent supply chain shortages. Broader index futures are higher.
Benchmark Brent crude oil prices climbed above $113 a barrel on Thursday, with Russian oil exports disrupted as traders try to avoid becoming entangled in sanctions. Brent has jumped by about 37% in the past 30 days and the contract's six-month spread hit a record high on Thursday at more than $21 a barrel, indicating very tight supplies. The gains followed a fresh round of U.S. sanctions that target Russia's oil refining sector, raising concerns that Russian oil and gas exports could be targeted next.
