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Oil gained as much as 1% on Friday amid supply worries after Treasury Secretary Scott Bessent told Fox Business, "We are committed to bringing the Iranians to going back to 100,000 barrels per day ...
The developments are set to upend a symbiotic oil trade between the U.S. and its neighbors: Many U.S. refineries are geared to churn the type of heavy and medium crude oil grades Canada produces ...
Trump also mentioned his intent to impose tariffs on Canada and Mexico starting Feb. 1, sparking concerns of a trade war that could impact economic growth and, as a result, oil consumption.
Oil producers broadly have signaled they aren't looking to ramp up investment in the near future. According to a survey by the Dallas Fed, 43% of oil and gas executives said they planned to ...
Mexico and Canada account for 70% of U.S. crude oil imports, which make up a key input for the nation’s gasoline supply, according to the U.S. Energy Information Administration, a government agency.
Turner said it could take a year for the the energy prices to begin coming down and that regulatory environment, not just the recent years of higher production, are a major factor in prices.
"Investors buy oil futures to hedge against the effect of rising consumer prices, but this activity can push oil prices higher, fueling more inflation and more hedging trades, and so on." 'STICKY ...
An inflation gauge closely watched by the Federal Reserve rose slightly last month, while some underlying prices pressures showed signs of easing. The latest inflation figures arrive as President ...