Category: Oil (Petroleum) and Gasoline

Nations Brace for Long-Term Economic Woes as Trump Calls Iran Truce Plan ‘Garbage’

The New York Times – Business:
President Trump said the fragile cease-fire was on “life support,” and India’s leader urged residents to cut back on purchases and travel.
Trump Proposes Suspending Federal Gas Tax Until Prices Fall

The New York Times – Business:
Congress would have to agree to any suspension, and dropping federal taxes would not make up for the steep increase in prices since the war began.
Oil Prices Rise as Prospects for U.S.-Iran Peace Deal Fizzle

The New York Times – Business:
Oil prices rose and stock futures ticked down as investors reacted after the two sides failed to agree on a U.S.-Iran peace deal.
Oil Prices Rise as Prospects for U.S.-Iran Peace Deal Fizzle

The New York Times – Business:
Oil prices rose and stock futures ticked down on Sunday as investors reacted to the apparent failure of the latest proposal for a U.S.-Iran peace deal.
Trump Administration Is Considering Pausing the Federal Gas Tax to Lower Prices, Energy Secretary Says

The New York Times – Business:
The tax is a little over 18 cents a gallon for gasoline. With the average national price above $4.50, the measure will provide little relief.
China’s Exports and Imports Set Records in April Amid High Energy Costs

The New York Times – Business:
The country’s exports surged and its trade surplus with the United States widened ahead of President Trump’s scheduled visit next week to Beijing.
U.S. Targets Iran’s Missile and Drone Program With Sanctions

The New York Times – Business:
The new measures are focused on Chinese companies that supply Iran’s military with materials to make drones.
Iran Says It Seized Oil Tanker That Was Sanctioned by U.S.

The New York Times – Business:
A maritime tracking company said the move was likely performative, given the Chinese-owned ship has an “established history within the Iranian trade ecosystem.”
‘Fired From Retirement’: Financially Insecure, Older Americans Return to the Grind

The New York Times – Business:
People return to work for many reasons, but the biggest is financial need. As costs remain high, more retirees could be looking to re-enter the job market.
Oil Prices Rise as U.S. and Iran Test Truce With Military Strikes

The New York Times – Business:
Oil prices rose after the United States attacked Iranian military sites in retaliation for Iran firing on U.S. warships in the Strait of Hormuz
Why Stocks and Bonds Are Responding Differently to the Iran War

The New York Times – Business:
Stock investors are betting that companies will make enormous profits, despite the war. But investors in bonds, including U.S. Treasuries, have other concerns.
Shell Reports Nearly $7 Billion Profit After Oil Prices Surged Amid U.S.-Iran War

The New York Times – Business:
The oil giant’s earnings in the first three months of the year were more than double the previous quarter’s and follow similarly strong results of European rivals.