in supply for May.Russia’s war in Ukraine has roiled global commodity markets and driven up the price of everything from food to fuels, challenging governments seeking to encourage economic growth after the pandemic. It’s led to tumultuous trading in the oil market, with wild swings during sessions throughout March.
President Joe Biden blamed a spike in gasoline prices this year on his Russian counterpart Vladimir Putin and the invasion of Ukraine, calling it “Putin’s price hike.” He also criticized U.S. oil companies that have been reluctant to boost production. The cost of retail gasoline at the pump wasits reserves twice in the past six months but it’s done little to cool prices.
The release by the U.S. and potentially other countries will not have a material impact on the supply-demand balance, said Jeffrey Halley, a senior market analyst at Oanda Asia Pacific Pte. Brent crude will likely fluctuate in a broad range of $100 to $120 a barrel in the weeks ahead, he added.Futures are down around 12% for the week.Goldman Sachs Group Inc. cut its forecast for Brent in the second half by $10 a barrel to $125 following news of the U.S. release.
The market also faced pressure this week from concerns about Chinese demand as the world’s biggest oil importer implements a series of lockdowns to curb a virus resurgence. Those curbs are starting to have an impact on the economy, with
A great platform that can make everybody smile, for my first time hearing about making money online, I thought is fake buy when I try it I realise that is real so I won’t keep silent I need everyone to smile like me GAODwyer01
I'm sharing this because this was exactly how i saw so many posts about GregoryLillian5 and how she was helping individuals with their trades and i decided to give it a try and luckly it went well, Contact her via his profile link below 👇👇 GregoryLillian5
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: Biden team considers a massive release of oil to combat inflationThe Biden administration is weighing up a plan to release roughly a million barrels of oil a day from U.S. reserves, for several months, to combat rising fuel prices and supply shortages following Russia’s invasion of Ukraine, according to people familiar with the matter. I'ᴍ sᴏ ᴄᴏᴍғᴏʀᴛᴀʙʟᴇ ᴍᴀᴋɪɴɢ ᴍʏ ᴡɪᴛʜᴅʀᴀᴡᴀʟs ғʀᴏᴍ MarkdonaldTowns ᴘʟᴀᴛғᴏʀᴍ, ᴛʜᴀɴᴋ ʏᴏᴜ ғᴏʀ ᴛʜɪs ᴏᴘᴘᴏʀᴛᴜɴɪᴛʏ ʙʀᴏᴛʜᴇʀs ᴀɴᴅ sɪsᴛᴇʀs ʜᴇʀᴇ's ᴛʜᴇ ᴘᴇʀғᴇᴄᴛ ᴏᴘᴘᴏʀᴛᴜɴɪᴛʏ ғᴏʀ ᴜs ᴀʟʟ ᴛᴏ ᴇᴀʀɴ. ᴄʜᴇᴄᴋ her ᴘᴀɢᴇ
Source: dailymaverick - 🏆 3. / 84 Read more »
Source: dailymaverick - 🏆 3. / 84 Read more »
Source: ewnupdates - 🏆 30. / 53 Read more »