LONDON—Benchmark oil prices climbed to their highest level since 2014 on Tuesday as possible supply disruption after attacks in the Mideast Gulf added to an already tight supply outlook. Brent crude futures rose $1.02, or 1.2 percent, to $87.50 a barrel by 0924 GMT, while U.S. West Texas Intermediate (WTI) crude futures jumped $1.36, or…
Netflix Is Raising Subscription Prices: Here’s What You Need to Know
Netflix Inc. is raising its United States monthly subscription prices by $1 to $2 per month depending on the plan. The price increase will help Netflix pay for new programming in order to remain competitive in the increasingly crowded streaming space. “We’re updating our prices so that we can continue to offer a wide variety of quality…
Price Drop Slows in December for New Homes in China
China’s new home prices tumbled at a slower pace at the end of 2021, after hitting a six-year low in November, official data show. According to the latest new home price indices released by the National Bureau of Statistics (NBS) on Jan. 15, new home prices in 70 tracked Chinese cities slipped 0.2 percent month-on-month…
Honda Exec: High Auto Prices May Drop, but Not Dramatically
DETROIT—Honda expects its factories to make more vehicles this year despite a computer chip shortage and supply chain troubles. But because it’s starting the year with so few vehicles at dealers, the company expects U.S. sales to fall below last year’s numbers. The company expects U.S. new vehicle prices to ease a bit from the…
Oil Prices Edge up on Kazakhstan, Libyan Supply Worries
LONDON—Oil prices edged up on Monday as supply disruptions in Kazakhstan and Libya offset worries stemming from the rapid global rise in Omicron infections. Brent crude rose 19 cents, or 0.2 percent, to $81.94 a barrel at 1006 GMT, and U.S. West Texas Intermediate (WTI) crude was up 20 cents, or 0.3 percent, at $79.10…
Oil Price Rises as Kazakh Turmoil Adds to Supply Worries
LONDON—Oil prices rose and were heading for their biggest weekly gains since mid-December on Friday as unrest in Kazakhstan and outages in Libya fuelled concerns over supply. Brent crude climbed 76 cents, or 0.9 percent, to $82.75 a barrel at 0939 GMT. U.S. West Texas Intermediate (WTI) crude rose 77 cents, or 1 percent, to…
Oil Prices Slip After China Cuts Import Quotas
LONDON—Oil prices eased on Thursday after the world’s top importer China cut the first batch of crude import allocations for 2022, offsetting the impact of U.S. data showing fuel demand had held up despite soaring Omicron coronavirus infections. Brent crude futures fell 52 cents, or 0.7 percent, to $78.71 a barrel at 1022 GMT. U.S….
Ikea Confirms 10 Percent Price Hike in UK Due to Supply Chain Costs
Flatpack furniture specialist Ikea has confirmed it has increased the average price of products in its UK stores by 10 percent due to rising supply chain costs. The retailer said it has been forced to increase prices in the UK by more than the global 9% average due to “local market conditions”, including increased HGV…
Gas Prices Expected to Rise in 2022, Could Hit Over $4 per Gallon in Spring: GasBuddy
A fuel forecast from GasBuddy predicts gasoline prices will reverse their downward drift and rise next year, potentially jumping as high as $4.13 per gallon in June, though a likely bump in crude supply is expected to push prices lower by the end of 2022. GasBuddy’s 2022 Gasoline Forecast (pdf), released Dec. 29, predicts that…
Gas Prices Expected to Rise in 2022, Could Exceed $4 Average in Spring: GasBuddy
A fuel forecast from GasBuddy predicts gasoline prices will reverse their downward drift and rise next year, potentially jumping as high as $4.13 per gallon in June, although a likely bump in crude supply is expected to push prices lower by the end of 2022. GasBuddy’s 2022 Gasoline Forecast (pdf), released Dec. 29, predicts that…
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