Tag: Brent crude oil

Ukraine, Russia Conflict Will Obstruct Economic Recovery: Australian Treasurer

February 22, 2022
AustraliaAustralian economyBrent crude oiljosh frydenbergRussia-Ukraine tensionsWorld
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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,…

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Psaki Outlines White House Measures to Rein in Oil Prices

February 10, 2022
Brent crude oilBusiness & Economyeconomic policiesoil pricesStrategic Petroleum ReserveUSUS News
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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…

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Schumer Encourages Biden to Tap Petroleum Reserves to Control Surging Fuel Prices

November 15, 2021
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…

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Oil Rises to 11-month High, Logs Weekly Gain on Saudi Output Cut

January 9, 2021
Brent crude oilBusinesseconomyInternationalMarketsUSWorld
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Oil prices hit their highest level in nearly a year on Friday, gaining 8 percent on the week.