• Here comes $90 oil

    The firm said the recovery in worldwide demand from the Delta variant has been “even faster than our above consensus forecast” and global supply is “short of our below-consensus forecasts.”

  • Prices keep soaring: Inflation rockets to a 13-year high

    The consumer price index, the nation’s key inflation measure, jumped 0.9% in June, the largest one-month increase in 13 years. Over the last 12 months, prices were up 5.4%, the biggest jump in annual inflation in nearly 13 years. Much of the rise in prices is due to gasoline prices, which are far above last summer’s […]

  • U.S. Oil Drops As Much As 20%

    US oil prices are still falling as investors continue to fret about an excess supply of crude at a time when no one wants any. West Texas Intermediate fell 3.5% on Tuesday to $12.33 a barrel. Earlier the US benchmark contract for oil to be delivered in June had fallen as much as 20%, hovering close to […]

  • U.S. Crude Oil Prices Sink to Historic Low

    [bc_video video_id=”6150946588001″ account_id=”5728959025001″ player_id=”Hkbio1usDM” embed=”in-page” padding_top=”56%” autoplay=”” min_width=”0px” max_width=”640px” width=”100%” height=”100%”] Business has been slow at the Shell gas station in Thousand Palms. Managing partner Victor Khouri  says coronavirus lockdowns are hurting the bottom line, “Last month I went in the hole close to $12,000 in our books because we had no business, all we […]

  • Oil crashes by most since 1991 as Saudi Arabia launches price war

    (CNN) — Oil prices suffered an historic collapse Monday after Saudi Arabia shocked the market by launching a price war against onetime ally Russia. US oil prices crashed as much as 34% to a four-year low of $27.34 a barrel as traders brace for Saudi Arabia to flood the market with crude in a bid to recapture market […]

  • Oil prices plunge as Trump speech eases Iran fears

    Oil prices tumbled Wednesday as President Donald Trump signaled tensions with Iran are easing, reducing fears of a deeper conflict between the two nations. The decline in crude marks a stunning reversal from an initial spike caused by Iran’s missile strike on bases in Iraq that house US troops. US crude tumbled 4%, hitting session lows […]

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