Treasury Secretary Scott Bessent estimated that the move would add about 140 million barrels of crude to the oil market.
Category: Oil (Petroleum) and Gasoline
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The U.S. Economy Is Insulated From High Oil Prices. Americans Aren’t.
The New York Times – Business:The overall economy has proved resilient in recent years, even as many households have struggled. The war with Iran is following the same pattern.
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Oil Falls and Stocks in Asia Hold Steady
The New York Times – Business:Oil prices had been gyrating this week, after a new round of attacks on major energy facilities in Iran and Qatar raised concerns about energy supplies.
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Scramble for Jet Fuel Shows How Energy Shortages Are Rippling Across Asia
The New York Times – Business:As China and other major suppliers of refined oil in the region restrict exports, import-dependent countries are desperate to secure fuel supplies.
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Mortgage Rates Highest in Three Months as War Weighs on Housing Market
The New York Times – Business:Rising energy costs and concerns about inflation have helped lift borrowing costs for a home mortgage for the third consecutive week.
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Mortgage Rates Highest in Three Months as War Weighs on Housing Market
The New York Times – Business:Rising energy costs and concerns about inflation have helped lift borrowing costs for a home mortgage for the third consecutive week.
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Extended Mideast Conflict Would Slow Trade and Growth, W.T.O. Warns
The New York Times – Business:The trade organization said that a slowdown in trade in 2026 could become even more extreme if the war in the Middle East persists.
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Extended Mideast Conflict Would Slow Trade and Growth, W.T.O. Warns
The New York Times – Business:The trade organization said that a slowdown in trade in 2026 could become even more extreme if the war in the Middle East persists.
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Attacks on Energy Infrastructure Could Lead to Much Higher Prices
The New York Times – Business:Attacks on oil and natural gas facilities this week could make it much harder for Persian Gulf countries to rebuild and restart production when the war eventually end.