Tag: Energy prices

April 28, 2023

Exxon Mobil more than doubled its profit during the first quarter, producing more oil to overcome energy prices that have declined during a period of economic unease. Net oil and gas net production jumped by nearly 300,000 oil-equivalent barrels per […]

February 24, 2023

Six months ago, Cornwall Insight, a consultancy that nobody had previously heard of, was forecasting that the energy price cap would reach £6,616 per year. Mainstream media accepted that without question. In fact, the price cap was set at £2,500 […]

February 15, 2023

After peaking at 11.1% in October, the headline rate has dropped to 10.1%. It means that inflation has fallen for three consecutive months now. Falling wholesale energy prices and cheaper air fares have helped to bring the consumer prices index […]

January 30, 2023

Ongoing issues, such as the effects of the COVID-19 pandemic and a new conflict in Europe, have disrupted the global economy and affected most countries around the world. The US is no exception, and the American economy seems to be […]

January 27, 2023

Core PCE prices in the US, which exclude food and energy, went up by 0.3% month-over-month in December of 2022, picking up from the 0.2% increase in the prior month and in line with market estimates. Prices for goods increased […]

January 19, 2023

WTI crude oil prices fell 2.36 percent on Wednesday, marking the worst single-day drop in two weeks. The deterioration in energy prices was not an isolated event. A closer look at an intraday chart shows that oil prices fell alongside […]

January 5, 2023

The Japanese Yen clawed back prior session losses against the US Dollar today, as did crude oil. Currency and commodity markets have started the year with a volatility breakout, with many markets whipsawing in the opening stanza of 2023. USD/JPY […]

December 1, 2022

A measure of inflation that is closely monitored by the Federal Reserve eased but remained at an elevated level in October, likely reinforcing the Fed’s intent to keep raising interest rates to cool the economy and slow the acceleration of […]

November 30, 2022

Inflation in Europe has eased for the first time in more than a year as energy prices drifted down from painful highs, but the double-digit rate still hovers near a record that has robbed consumers of their spending power and […]

November 16, 2022

The Office for National Statistics (ONS) revealed the increase, from 10.1% in September, as the cost of light and heating for homes rose further despite help from the government’s energy price guarantee that limits wholesale charges for gas and power. […]

October 18, 2022

European Union leaders enter a crucial stretch this week to make sure runaway energy prices and short supplies do not further tank their struggling economies and foment unrest. At the same time, they need to keep all 27 members united […]

September 9, 2022

European Union nations struggled to find common ground Friday on ways to shield the population from dramatically increasing energy prices that threaten to plunge millions into cold and poverty over the winter as Russia chokes off natural gas supplies. As […]

August 18, 2022

German energy giant Uniper posted a staggering EUR12 billion loss for H1 2022 on Wednesday as the energy crisis in Europe’s largest member state continues. The company was given a EUR15 billion bailout in July – for 30% of the […]

June 24, 2022

A day after endorsing Ukraine’s candidacy to join the European Union, the bloc’s leaders turned their attention Friday to the severe economic turbulence looming over the coming months as the full impact of Russia’s war sinks in and the threat […]

June 20, 2022

Consumers will be glad to see oil prices softening on the back of Friday’s decline although it may be some time before this translates into lower prices at the pumps. The question of demand destruction has resurfaced after the Fed […]

June 14, 2022

U.S. producer prices surged 10.8% in May from a year earlier, underscoring the ongoing threat to the economy from inflation that shows no sign of slowing. Thursday’s report from the Labor Department showed that the producer price index — which […]

June 10, 2022

A survey carried out by the Office for National Statistics (ONS) revealed that 52% of Britons are using less gas and electricity in a bid to cut down costs. The poll, carried out between 25 May and 5 June, also […]

June 9, 2022

The European Union will allow Spain and Portugal to use billions of euros in state aid to help ease the burden of spiraling electricity prices on consumers in the Iberian Peninsula as Russia’s war in Ukraine exacerbates an energy squeeze. […]

June 2, 2022

The OPEC oil cartel and allied producing countries including Russia will raise production by 648,000 barrels per day in July and August, offering modest relief for a global economy suffering from soaring energy prices and the resulting inflation. The decision […]

April 14, 2022

U.S. oil production forecasts are being revised upwards despite labor and supply chain constraints as higher prices spur more drilling and well completion activity, according to industry experts. Calls for new oil supplies are being answered by more producers as […]