US inflation is estimated to have reached a new four-decade high in June, but falling gasoline prices and discounting at some retailers could be signs of moderating price pressures, economists say. The consumer-price index is expected to have increased 8.8% in June from the same month a year ago, according to economists surveyed by The … Read more
Slowing demand and recession fears helped bring the benchmark US oil price below $ 100 a barrel Tuesday, continuing a rapid turnaround from soaring levels in recent months. Oil prices shot higher earlier this year as war in Ukraine disrupted supply lines and the world-wide postpandemic reopening lifted demand. That move has contributed to the … Read more
Ethanol prices have risen steadily this year, boosted by a Biden administration mandate to blend more of the biofuel into gasoline and some of the highest US consumer inflation in decades. The price of ethanol, the corn-based fuel that is a common gasoline additive, has risen 14% so far this quarter, outpacing crude oil. The … Read more
The average price of a gallon of regular unleaded gas in the US hit $ 5 Friday night, and the rise in fuel costs is expected to persist throughout the busy summer driving season. The record high, according to OPIS, an energy-data and analytics provider, comes as US consumer inflation hit its highest level in … Read more
As US gasoline prices approach a record average of $ 5 a gallon, fuel costs are rippling through almost every corner of business, with signs emerging that rising costs are beginning to alter consumer behavior. The price of regular gasoline averaged about $ 4,986 on Friday, up around 22 cents from the prior week and … Read more
Millions of Americans hit the road over Memorial Day weekend, with record-high gas prices pinching their wallets. The national average price for a gallon of regular unleaded gas hit $ 4.62 as of Monday, according to AAA, $ 1.58 higher than a year earlier and about 12% above the pre-2022 high of $ 4.11 set … Read more
Asian shares logged moderate gains on Thursday after Wall Street stabilized following a sell-off in tech stocks the day before. Tokyo’s Nikkei 225 NIK, + 1.75% rose 1% after the Bank of Japan wrapped up a policy meeting with no major changes, maintaining its near-zero interest rate stance despite a sharp weakening of the yen … Read more
Oil Market’s Big Winners: ‘Little Guys’ Who Are Eager to DrillThe Wall Street Journal
A day after Russia began its invasion of Ukraine on Feb. 24, the Moscow Exchange closed for stock trading. It has yet to reopen. The iShares MSCI Russia ETF, managed by BlackRock, was down 81% for 2022 through March 10. After MSCI said on March 2 that Russia had become “uninvestable,” and that it was … Read more
Text size A Tesla dealership David Paul Morris / Bloomberg Tesla investor Gary Black tweeted out some interesting math Friday. He laid out his case for Tesla’s market capitalization to climb to a whopping $ 4 trillion. It currently stands at about $ 900 billion. Electric-vehicle penetration world-wide will be 60% by 2030, Black estimates. … Read more