Oil settles below $90 as recession fears grow

An oil pump jack pumps oil in a field near Calgary, Alberta, Canada, July 21, 2014. REUTERS/Todd Korol/File Photo Join now for FREE unlimited access to Reuters.com Register Sep 7 (Reuters) – Oil prices slumped on Wednesday, falling below levels seen before Russia invaded Ukraine as downbeat Chinese trade data fueled investor worries about recession … Read more

Lower gasoline prices are dampening consumer spending in the United States; monthly inflation slows down sharply

Consumer spending increases by 0.1% in July The decline in gas stations explains the slight increase The Core PCE price index edged up 0.1%; up 4.6 year-over-year WASHINGTON, Aug 26 (Reuters) – U.S. consumer spending barely rose in July as falling gasoline prices hurt sales at gas stations, but monthly inflation slowed sharply, which could … Read more

Biden Forgives Millions in Student Loans; critics fear inflation

WASHINGTON, Aug 24 (Reuters) – President Joe Biden said on Wednesday the U.S. government would forgive $10,000 in student loans to millions of indebted former students, fulfilling a promise he made during the 2020 campaign to the White House. The move could bolster support for his fellow Democrats in November’s congressional elections, but some economists … Read more

EXCLUSIVE Biden’s emergency board calls for railroad wage hikes to resolve contract talks

U.S. President Joe Biden rides Air Force One as he departs for Washington, DC from Joint Base Charleston, South Carolina, U.S., August 16, 2022. REUTERS/Joshua Roberts Join now for FREE unlimited access to Reuters.com Register WASHINGTON/LOS ANGELES, Aug 16 (Reuters) – U.S. President Joe Biden’s emergency council tasked with helping major freight railroads and unions … Read more

US gasoline prices fall below $4 for the first time since March

Gasoline demand has fallen this summer Low-income households spend less as prices fall US retail price hit record high in June Aug 11 (Reuters) – The average U.S. retail gasoline price fell below $4 a gallon on Thursday for the first time in months, providing relief to drivers of the world’s biggest consumer of fuel … Read more

Oil rises as Russian pipeline shutdown reignites supply fears

Sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. REUTERS/Angus Mordant Join now for FREE unlimited access to Reuters.com Register Russia’s oil exports halted via southern section of Druzhba pipeline EU proposes ‘final’ text to resuscitate Iran nuclear deal Recession, … Read more

Oil prices fall to lowest since before Ukraine invasion as fears of recession weigh

FILE PHOTO – A PetroChina worker inspects a pump cylinder at an oilfield in Tacheng, Xinjiang Uyghur Autonomous Region, China June 27, 2018. REUTERS/Stringer AT Join now for FREE unlimited access to Reuters.com Register BoE raises rates and warns of recession risks Saudi Arabia and the United Arab Emirates save their oil firepower in the … Read more

Oil drops to near 6-month lows after surprise U.S. crude oil and gasoline builds

Sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. REUTERS/Angus Mordant Join now for FREE unlimited access to Reuters.com Register U.S. crude and gasoline inventories rise unexpectedly – EIA OPEC+ decides on a small increase of 100,000 bpd in production … Read more

US targets Chinese, Emirati companies in new Iranian oil sanctions

The gas pump model is seen in front of the colors of the American and Iranian flags in this illustration taken March 25, 2022. REUTERS/Dado Ruvic/Illustration Join now for FREE unlimited access to Reuters.com Register WASHINGTON, Aug 2 (Reuters) – The United States on Monday imposed sanctions on Chinese and other companies it says helped … Read more