Oil prices push higher, approaching another wartime high, as President Trump asserted that the naval blockade of Iran’s ports would persist.
Category: Prices (Fares, Fees and Rates)
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Rising Fuel Prices Could Force Excruciating Choices on Economic Policies
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.
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Ford Reports Higher Profit Thanks Partly to Tariff Refund
Ford Motor said it expected the federal government to refund $1.3 billion the company paid in tariffs that were later struck down by the Supreme Court.
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United Airlines CEO, Rebuffed by American, Says He’s Skeptical of Other Deals
The chief executive, Scott Kirby, said that buying a smaller airline might not be worth the effort.
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U.S. Gas Prices Climb Further as Effects of War Reverberate
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 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 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 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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Transition to a New Fed Chair Is Unlikely to Mean Immediate Rate Cuts
The Federal Reserve is expected to hold interest rates steady this week as Jerome H. Powell presides over what is likely to be his last meeting as chair.
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Oil Prices Jump Again as U.S.-Iran Talks Appear Deadlocked
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
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
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.