Confused? We’ll walk you through it. Most of Russia’s oil goes to Europe and Asia. But the key here is to think about the oil supply globally, rather than the US specifically. The commodities world is a heavily interconnected one, and oil is priced through a global market. So what […]
prices
The push to ban Russian oil is gaining steam. Here’s what that means for US energy prices
“I’m all for that. Ban it,” House Speaker Nancy Pelosi said this week. A bipartisan bill, unveiled this week by Democratic Sen. Joe Manchin of West Virginia and Republican Lisa Murkowski of Alaska, would do just that. Note that this is very different from the more sweeping step of imposing […]
Prices are soaring. How high can they go?
We know the causes: worker and product shortages have resulted in pandemic-era price hikes for such goods such as used cars, as well as strong consumer demand. Now, the Federal Reserve has come down from the mountain to rein inflation in. In October, the central bank announced a tapering of […]
Rising prices: Key inflation measure hits a 39-year high
The US consumer price inflation index rose 7% over the past year before seasonal adjustments, the steepest climb in prices since June 1982, the Bureau of Labor Statistics reported Wednesday. It was also a faster rate of increase than November’s 6.8%, and higher than economists had predicted. Stripping out food […]
Chinese coal prices hit record high and power cuts continue
Heavy rains have forced the closures of 60 coal mines in Shanxi province, China’s largest coal mining hub, according to a statement released Saturday by the provincial government’s Emergency Management Bureau. The province is home to a quarter of the country’s coal production. The adjacent Shaanxi province, which ranks third […]
Energy prices in Europe hit record highs. A winter crisis looms
The wholesale cost of natural gas has surged to record highs in the United Kingdom, France, Spain, Germany and Italy. Bills for households and businesses are already soaring, and could go even higher as cold weather sets in and more fuel is needed for electricity generation and heating systems. “We’ve […]
Energy prices: IEA urges Russia to pump more natural gas to Europe
The Paris-based group said in a statement that while Russia is fulfilling its long-term contracts to European customers, exports are down from their 2019 level. Russia is the European Union’s largest supplier of natural gas. “The IEA believes that Russia could do more to increase gas availability to Europe and […]
Oil prices fall after China announces historic sale from precious supply of reserves
The State Bureau of Grain and Material Reserves said late Thursday that it will release crude oil from its national reserve in batches. It intends to sell the oil to refining and petrochemical companies. “Putting national reserve crude oil on the market through open auction sales will better stabilize the […]
Crashing crypto prices spooked some new investors. Others are doubling down
The 27-year-old office manager in Madison, Wisconsin, had put all of his investments into cryptocurrencies, including bitcoin, ethereum and dogecoin, a joke coin whose rapid ascent he considered entertaining if “ridiculous.” That alarmed his father, an experienced investor. “He knew I had all my money in there and he was […]
High Lumber Prices Stop Erie Constructing Initiatives
Outdoor plants soften the cruel lines of a patio or deck and tall potted crops create privateness. Think about on a daily basis you spent on the lookout for a pot lid that was in the back corner of a big cupboard? This man is an Israeli settler.– He wasn't […]