Markets: Last week was a rough one in the stock market, and this week could be even more unpredictable. The midterms on Tuesday, an inflation report Thursday, and another batch of earnings will give investors plenty of new information to absorb. We have to give Berkshire Hathaway a shoutout because Warren Buffett works overtime and reported his company’s earnings over the weekend. Berkshire’s $109 billion cash pile has ballooned thanks to rising interest rates.
Oil prices slide as hopes for China demand rebound fade
SINGAPORE (Reuters) -Oil prices fell more than...
SINGAPORE (Reuters)-Oil prices fell more than $1 a barrel on Monday after Chinese officials on the weekend reiterated their commitment to a strict COVID containment approach, dashing hopes of an oil demand rebound at the world's top crude importer.
Brent crude futures dropped $1.20, or 1.2%, to $97.37 a barrel by 0227 GMT, after hitting as low as $96.50 earlier. U.S. West Texas Intermediate crude was at $91.24 a barrel, down $1.37, or 1.5%, dropping to a session low of $90.40 a barrel earlier in the session.
Angry Sen. Manchin blasts Biden for his anti-coal comments
Just weeks after West Virginia U.S. Sen. Joe Manchin supported President Biden on one of his projects,...
Just weeks after West Virginia U.S. Sen. Joe Manchin supported President Biden on one of his projects, Manchin has been left fuming after the President called for coal plants in the U.S. to be shuttered.
The Democratic Senator blasted Biden calling his remarks “outrageous and divorced from reality,” adding that it’s time “he learned a lesson.”
Manchin, who at times appears to support Republicans when it comes to the oil and gas industry, said the President’s remarks made in California on Friday “ignore the severe economic pain the American people are feeling because of rising energy costs.”
The US diesel crunch means it's time to stock up on food
A shortage of diesel in the US has set alarm bells ringing for many experts, who are...
A shortage of diesel in the US has set alarm bells ringing for many experts, who are flagging higher prices for goods and risks to food supply as truckers pay more for fuel.
Inventories of diesel have sunk far below emergency levels, and EIA data showed US had only 25 days' supply of diesel left in reserves as of three weeks ago — a low not seen since 2008.
Diesel is used in freight transportation, and tight supply could mean less food and other goods getting onto supermarket shelves, and higher delivery costs feeding into higher prices for consumers. That could worsen already high inflation.
