Tag: oil
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Red Friday not Black Friday
Slow news week, Twitter CEO may step down, Oil rises, Omicron threatens us, Canada releases from its reserves, and much much more!
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Wishing you tasty yields for Thanksgiving
Owl Rock Capital announces stock repurchase, decreased demand for oil in Europe, natural gas prices pop in Europe, and much more!
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Biden Administration investigates oil and gas companies for illegal pricing conduct
When is the last time an American President investigated oil and gas companies for raising the price of gas and other fuels when supplies have been constrained? President Biden called on the Federal Trade Commission to investigate whether oil-and-gas companies are participating in illegal conduct aimed at keeping gasoline prices high. In a Wednesday letter…
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Increased output and decreased European demand could ease oil prices
In its closely watched monthly market report, the IEA said that the tight supply and demand balance in the global oil market could be about to ease. It expects output to rise by 1.5 million barrels a day in the remainder of 2021, with the U.S., Saudi Arabia and Russia accounting for around half of that amount.…
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Price of oil continues to be a problem for the United States and President Biden
Rising oil prices have handed President Biden a dilemma at a politically precarious time. His administration’s ambitious agenda to stem global warming calls for a shift away from fossil fuels. Yet Mr. Biden is now urging the Organization of the Petroleum Exporting Countries to increase production to ease shortages and lower prices. OPEC has so…
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OPEC+ decision leads to higher oil prices
OPEC and a Russia-led group of oil producers agreed to continue increasing production in measured steps, delegates said Monday, deciding against opening the taps more widely, and driving U.S. crude prices to their highest levels since 2014. West Texas Intermediate, the main U.S. oil price, rose 2.3% to close at $77.62 a barrel. Brent, the…