United States Oil Fund Lp ETF News

Sovereign bonds slumped in Australia and New Zealand after U.S. inflation accelerated to a fresh 40-year high, underscoring global concern that price pressures were getting out of hand even before the recent surge in oil.

WASHINGTON : US consumer prices surged in February, forcing Americans to dig deeper to pay for rent, food and petrol, and inflation is poised to accelerate even further as Russia''s war against Ukraine drives up the costs of crude oil and other commodities. The broad rise in prices reported by the Labor Department yesterday led to the largest annual increase in inflation in 40 years. Inflation was already haunting the economy before Russia''s invasion of Ukraine on Feb 24, and could further erode President Joe Biden''s popularity. The consumer price index (CPI) was 7.9% higher in February compared with the same month last year, its biggest jump since January 1982 as costs for petrol, food and housing rose, the Labor Department said. Compared to January, the CPI rose 0.8%, according to the data, which was within expectations but nonetheless higher than the 0.6% increase the month prior. A 6.6% jump in petrol prices accounted for a third of the monthly CPI increase, while overall food costs rose 1% and groceries rose 1.4%, the largest gains in both categories since April 2020.

The average gas price is accelerating toward $6 a gallon in California. It comes after the Ukraine invasion prompted a U.S. ban on Russian oil. As Katie Nielsen reports those surging prices could soon trickle down to your grocery bill.

On Fox News Thursday, co-anchor Geraldo Rivera tore into his colleagues for accusing Democrats of deliberately forcing oil prices higher — and reminded them to look to oil company profits if they want to know where higher gas prices are going. "I don''t care if you blame Putin, the oil companies, or Joe Biden," said Rivera. "What I really don''t like is the partisan divide, and I''ve never particularly heard oil fat cats who are reaping record profits being — their virtue extolled quite as eloquently as it has been here. I think the notion that we want, that the Democrats want intentionally high oil prices to make the country go green is preposterous." "They said it!" said several of the other hosts in unison. "It''s preposterous," said Rivera. "I believe that the oil companies are making record profits. Look to where — follow the money." Watch below: Geraldo Rivera calls out his co-hosts for being Big Oil shills: "I''ve never particularly heard oil fat cats who are reaping record profits being \u2013 their virtual extolled as eloquently as it has been here.

Oil prices settled about 2% lower on Thursday after a volatile session, a day after its biggest daily dive in two years, as Russia pledged to fulfill contractual obligations

Qatar raises April crude oil price differentials vs Dubai-Oman Reuters.com

The gusher of money the US government poured into family bank accounts during the coronavirus pandemic may now help limit the economic damage from Russia''s invasion of Ukraine

Since Russian President Vladimir Putin announced an invasion into Ukraine on Feb. 24, several Western nations, including the United States, have united to impose economic sanctions on Russia. These sanctions include freezing assets of Russia’s national bank, banning Russian banks from the international financial messaging system SWIFT and phasing out imports of Russian oil and […] The post U-M professors and students discuss economic impacts of Russia invading Ukraine appeared first on The Michigan Daily .

There will be renewed energy for investment-led growth and last-mile delivery of social schemes, economists said, but cautioned against taking up any controversial reforms when the country faces economic headwinds due to high oil prices.

(Bloomberg) -- Oil’s tumultuous rally paused after U.S. inflation rose to a fresh 40-year high, sparking worries that surging prices could hasten the onset of demand destruction. Most Read from BloombergUkraine Open to Russia''s Neutrality Demand But Won’t Yield Territory, Aide SaysChina Warns U.S. Over Forming Pacific NATO, Backing TaiwanRussia Devises Plan to Seize Firms Abandoned in Foreigner ExodusRussian Prowess Questioned as Troops Bogged Down in UkraineUkraine and Russia Fail to Make Progr

Oil Falls After Putin Says Will Honor Oil Sales to ''Unfriendly'' Countries

By Ron Bousso and Sabrina Valle (Reuters) – Norwegian energy giant Equinor has stopped trading Russian oil as part of its plan to wind down its operations in Russia in the wake of the invasion of Ukraine, Chief Executive Anders Opedal told Reuters on Thursday.

The US still does not recognize Maduro despite talks about oil

US still does not recognize Maduro despite oil talks

President Joe Biden''s White House is begging the Nicolas Maduro regime in Venezuela to ship more oil to the U.S., but that would not be necessary had he not cancelled the Keystone XL pipeline. Read more: https://www.forbes.com/sites/davidblackmon/2022/03/10/why-bidens-killing-of-keystone-xl-was-a-big-energy-blunder/