Australian Treasurer Josh Frydenberg has warned that the escalating hostilities between Ukraine and Russia will obstruct Australia’s economic recovery, as global oil prices rise to a seven-year high. “This is not just going to have an impact in terms of the national security situation … But what it would have is a broader economic impact,…
Ukraine, Russia Conflict Will Obstruct Economic Recovery: Australian Treasurer
Psaki Outlines White House Measures to Rein in Oil Prices
White House press secretary Jen Psaki on Tuesday outlined three steps that President Joe Biden is taking to address rising gas prices. This comes as consumers deal with increased costs at the pump. A year ago regular gas prices averaged $2.469 per gallon, while Americans were shelling out $3.469 as of Wednesday. Psaki said at…
Schumer Encourages Biden to Tap Petroleum Reserves to Control Surging Fuel Prices
November 15, 2021
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Brent crude oilBusiness & EconomyChuck Schumer (D-NY)EconomieseconomyOPEC oilStrategic Petroleum ReserveUS
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Senate Majority Leader Chuck Schumer (D-N.Y.) urged the Biden administration on Sunday to make use of the Strategic Petroleum Reserve in order to curb increasing gasoline prices as Americans enter the holiday season. “COVID’s wreaked havoc on our supply chains. No industry is spared but fuel, gasoline is the worst of all. When fuel is…
Oil Rises to 11-month High, Logs Weekly Gain on Saudi Output Cut
Oil prices hit their highest level in nearly a year on Friday, gaining 8 percent on the week.
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