After months of stability, prices at the pump have jumped as hot temperatures hit refineries — and could boost inflation.
Those cuts — as well as strong fuel demand in China and the U.S. and the soft U.S. dollar — have helped boost crude oil prices. Last week, WTI crude prices topped $80 per barrel for the first time since April.
A spokesperson for the Department of Energy, which manages the SPR, did not respond to questions on when it would seek another purchase of oil for the reserve. “Because OPEC has cut production so significantly, now we’re relying on oil that is being pumped out in the Gulf of Mexico on rigs,” De Haan said. And he warned that the Fed, which has touted the decline in inflation and hinted at slowing interest rate increases, needs to keep an eye on the rising gas prices as a threat to the economy.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Biden takes leisurely bike ride at Delaware vacation home as Hunter Biden scandal surgesPresident Biden toiok a bike ride Wednesday while staying at his vacation home in Rehoboath Beach, Delaware, amid growing scandals with his son.
Weiterlesen »
Hunter Biden investigation: Joe Biden calls an ‘abuse of soft power,’ Archer saysDevon Archer, Hunter Biden’s former business partner, said in his first interview since testifying before Congress that then-Vice President Joe Biden knew he was meeting with his son’s business partners at multiple dinners and meetings, and that the speakerphone calls between the father and his…
Weiterlesen »
Hunter Biden investigation: Democrat urges release of Archer transcript to prove Biden innocenceRep. Dan Goldman (D-NY) is urging House Republicans to publish their transcribed interview with Devon Archer, a former business partner of Hunter Biden, arguing the public release would exonerate the Biden administration from any allegations of international influence peddling.
Weiterlesen »
Hunter Biden's lottery email captures Biden corruption mindsetA few things appear established. Hunter Biden (and his uncle) were openly selling influence and access to Joe Biden. The calls were designed to prove their deliverables of Joe Biden.
Weiterlesen »
Scorching summer heat is curbing gasoline output and adding pain at the pumpHigh-temperature forecasts into August could keep U.S. gasoline makers from running all out for the last stretch of the summer driving season, dimming hopes for relief at the pump.
Weiterlesen »
A summer rerun: The return of $5 gasoline in San DiegoThe average price for a gallon of regular, on a steady rise since the start of the year, has jumped 21cents in a month
Weiterlesen »