High demand and low supply are sending fuel prices through the roof. Mola Lenghi takes a look at how it's affecting consumers.
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- Business Insider
America isn't running out of everything just because of a supply-chain crisis. America is running out of everything because Americans are buying so much stuff.
Claims that the US is running short on everything miss a key point. Record imports are part of the reason for the epic supply-chain congestion.
Oil prices climbed to multiyear highs on Monday but there are no signs of the industry ramping up spending in response. Increased demand amid the global Covid recovery has contributed to rising oil prices. U.S. West Texas Intermediate futures climbed to $83.85 per barrel, their highest level since October 2014, while Brent crude oil futures touched three-year highs above $86 per barrel at one point on Monday.
- Motley Fool
Oil prices continue to march higher. Brent, the global oil benchmark, recently touched $85 a barrel, while WTI, the U.S. oil price benchmark, is just a couple of dollars behind. Crude prices are pushing levels not seen since 2014.
(Bloomberg) -- Oil output in America’s most prolific shale patch is getting closer to levels seen before the pandemic-driven market crash, as crude prices surge. Most Read from BloombergGoogle’s Biggest Moonshot Is Its Search for a Carbon-Free FutureA $30 Billion Fortune Is Hiding in China’s Silicon ValleyThe Biggest Public Graveyard in the U.S. Is Becoming a ParkGoogle’s CEO: ‘We’re Losing Time’ in the Climate FightHate-Speech Case Forces Japan to Confront Workplace RacismWhile total production
The opening of the Jio World Drive mall, spread over 17.5 acres in the Maker Maxity complex close to the upscale areas of Bandra and Khar, has injected life into India's premium retail segment.
ASML makes advanced semiconductor equipment. Washington is dead set on keeping it from doing business with China.
- Associated Press
A Spanish court has shelved a lawsuit against American treasure hunters that accused them of having destroyed an underwater archaeological site when they looted a sunken galleon for tons of precious coins over a decade ago. In 2007, the Florida-based Odyssey Marine Exploration scooped up over half a million silver and gold coins from the bottom of the Atlantic Ocean when it discovered a sunken Spanish galleon. Spain disputed the company's claim to the treasure, which was worth an estimated $500 million.
- FX Empire
The crude oil markets have rallied a bit during the course of the trading session on Monday but have given back early gains as we are starting to show signs of exhaustion.
If concrete were a country, it would be the third largest emitter of greenhouse gases on Earth, behind only China and the United States.
Ongoing labor shortages, supply chain issues, and weather conditions are causing beef prices to skyrocket.
NEW YORK (Reuters) -Oil prices pulled back after touching multi-year highs on Monday, trading mixed as U.S. industrial output for September fell, tempering early enthusiasm about demand. Production at U.S. factories fell by the most in seven months in September as an ongoing global shortage of semiconductors depressed motor vehicle output, further evidence that supply constraints were hampering economic growth. "The oil market started off with a lot of exuberance, but weak data on U.S. industrial production caused people to lose confidence in demand, and China released data that intensified those worries," said Phil Flynn, senior analyst at Price Futures Group in New York.
- Star Tribune (Minneapolis)
A new Canadian railroad venture is sparking a significant increase of 15 to 20 oil trains that run through Minnesota each month. Canadian Pacific Railway's specialized new Canadian crude cargoes run on its main line, which bisects the Twin Cities. And the Canadian rail giant's recent deal to purchase a major U.S. railroad will likely make its new oil service even more appealing to shippers. ...
As natural-gas prices surge, coal-fired generation in the U.S. is set to increase for the first time in seven years, a government forecast finds.
Natural gas prices in the U.K. and Europe briefly spiked on Monday, after a report that Russia's Gazprom may not send more supplies as expected following recent comments from Russian President Vladimir Putin. European natural gas futures - based on benchmark November Title Transfer Facility (TTF) futures in the Netherlands -- climbed to 107.70 euros per megawatt hour (MWh) before easing back to 94.82 euros, with similar rollercoaster moves seen for U.K. futures . That's after a closely watched p
When Nigel Upson checks the plucked chicken carcasses dangling from a rotating line at his poultry plant in England, he sees cash haemorrhaging out of his business from a collision of events that has distressed every part of the farm-to-fork supply chain. Like food manufacturers across Britain, Upson was hit this year by an exodus of eastern European workers who, deterred by Brexit paperwork, left en masse when COVID restrictions lifted, compounding his already soaring cost of feed and fuel. Such is the scale of the hit, he cut output by 10% and hiked wages by 11%, a rise that was immediately matched or bettered by neighbouring employers in the northeast of England.
- Motley Fool
Almost 100 million people are making a huge mistake when it comes to retirement planning. A recent Nationwide Financial study found that around 40% of adults across America believe that Social Security benefits alone should be sufficient to live on. Future retirees anticipating they can rely solely on Social Security will likely be surprised to find out how low their benefits end up being once they start getting their checks.
Ma, who has largely been out of public view since a speech last year in which he publicly criticized China's regulatory system, is in Spain for a study tour on agriculture and technology related to environmental issues, the report said, citing a source familiar with Ma's schedule. He was in Hong Kong spending "private time" with this family before flying to Europe, according to SCMP, which is owned by Alibaba.
A surge in oil prices is drawing fund managers back into shares of oil and gas companies, even as some remain unsure that the price gains will stick. Energy stocks in the S&P 500 are up 53.8% for the year to date compared with a 20.2% gain for the broader index, as rising demand from the global economic reopening collides with supply chain disruptions and inflation fears to boost energy prices to multi-year highs. The rally has caught many fund managers by surprise and some are scrambling to catch up, betting that commodity prices will remain high in the face of burgeoning demand.
The airline previously planned to put workers requesting exemptions to the Covid-19 vaccine on unpaid leave until their cases were reviewed.
- Business Insider
7 in 10 tech workers say they're considering quitting their job within the next year in a new survey
Top reasons that tech workers may quit include limited career progression and the working hours, per the survey of 1,200 people.