The European Central Bank and Bank of England were expected to hold interest rates steady on Thursday while searching for signs of possible longer-term damage.
Category: Oil (Petroleum) and Gasoline
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Rising Fuel Prices Could Force Excruciating Choices on Economic Policies
The New York Times – Business: -
Why the U.A.E. is Quitting OPEC
The New York Times – Business:The United Arab Emirates is walking away from OPEC this May. The New York Times’ energy reporter, Rebecca Elliott, breaks down how the war with Iran provided the perfect opening for the U.A.E. to go solo.
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U.S. Gas Prices Climb Further as Effects of War Reverberate
The New York Times – Business:The national average price of a gallon of gasoline hit $4.23, following oil prices upward as supplies from the Middle East remain disrupted.
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Loss of Emirates Further Weakens OPEC’s Influence
The New York Times – Business:The exit of the United Arab Emirates is the most significant in a series of departures from the oil cartel in recent years.
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Starbucks Reports Strong Store Traffic and Rise in Quarterly Sales
The New York Times – Business:The chain’s chief executive credited its turnaround plan for improved U.S. same-store sales, but said higher gas and utility costs were a concern.
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What Is OPEC, and How Does the Oil Cartel Influence Petroleum Prices?
The New York Times – Business:The group of oil-producing countries supplied more than 25 percent of the world’s oil before the war in Iran. Its members have influenced energy markets through the years.
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Oil Prices Jump Again as U.S.-Iran Talks Appear Deadlocked
The New York Times – Business:Investors parsed reports that President Trump told advisers that he was not satisfied with Iran’s latest proposal to reopen the Strait of Hormuz.
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The World Needs Natural Gas Now, but the U.S. Is Exporting All It Can
The New York Times – Business:Even the largest global supplier of liquefied natural gas can’t make up for the shortfall since the war in Iran cut off an important source.
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Budget Airlines Ask Trump Administration for Billions as Fuel Costs Rise
The New York Times – Business:A trade group for the airlines is seeking $2.5 billion to help offset the big jump in jet fuel costs since the start of U.S.-Israeli attacks against Iran.
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The Rise of the High-Range, Less Expensive E.V.
The New York Times – Business:Even as the electric vehicle market slumps, there are more long-range E.V.s under $40,000 than ever before.
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The U.S. Started the War. The Rest of the World Is Feeling the Effects.
The New York Times – Business:In just eight weeks, much of the global economy has been knocked sideways. America has mostly been spared from the tumult.