Oil prices are soaring, threatening a wider problem with inflation, but the president has insisted that borrowing costs must be lowered.
Category: Oil (Petroleum) and Gasoline
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Trump Renews Demand for Rate Cuts as Fed Grapples With War in Iran
The New York Times – Business: -
Iran’s South Pars Gas Field Is Attacked, Sending Energy Prices Soaring
The New York Times – Business:The field is part of a vast gas reservoir shared by Iran and Qatar. The strike appeared to be one of the most significant attacks on an energy site since the U.S.-Israeli air war against Iran began.
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U.S. Suspends Oil Shipping Rules to Ease Gas Price Pressures
The New York Times – Business:The Jones Act dictates that only ships made in the United States can transport cargo between U.S. ports. Such vessels, which must also be crewed by Americans, charge customers more than foreign ships.
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Why This Jump in Gas Prices Feels Different
The New York Times – Business:A state-by-state look at the increase and how it could affect you.
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As War Chokes Natural Gas Supply, Asia Turns Back to Coal
The New York Times – Business:Across Asia, a sharp drop in liquefied natural gas supplies is pushing major importers back toward coal, undermining L.N.G.’s long-held role as a stable energy anchor.
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Kharg Island Is an Appealing Target for Trump, With High Risks
The New York Times – Business:A U.S. attack or a move to seize control of Iran’s main oil export hub could cripple the country’s ability to profit from its natural resources. But it would also risk sending energy prices even higher.
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Flight Prices Are Up Amid Soaring Fuel Costs, but Travel Demand Remains High
The New York Times – Business:Airline executives said the war in Iran had raised fuel costs and, as a result, fares, but that had not yet hurt demand for tickets from individuals and businesses.
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Iran’s Hormuz Stranglehold Upends Markets and Geopolitics
The New York Times – Business:Energy prices continued to climb around the world as war in the Middle East intensifies. That has scrambled President Trump’s foreign policy strategy.
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After Pulling Back, Oil Prices Resume Their Rise
The New York Times – Business:Shipping routes crucial to global commerce remained disrupted as the conflict in the Middle East continued.
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With Iran War, Trump Risks Stepping on Gains From His Own Tax Cuts
The New York Times – Business:President Trump’s war in Iran has raised some costs just as many Americans are starting to see savings from last year’s tax cuts.
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Why Trump’s Strait of Hormuz Problem Is Going Global
The New York Times – Business:President Trump is getting little to no support so far for his call that other countries do their part to try to ease an energy crisis prompted by U.S.-Israeli attacks on Iran.