Tag Archives: US Economy

Oil futures rose above $120 on Monday after Saudi Arabia raised crude selling prices in July, indicating a tight supply even as the OPEC+ producers agreed to accelerate production increases over the next two months. Brent crude rose 68 cents, or 0.6 percent, to $ 120.40 a barrel by 0640 …

US President Joe Biden ignores Elon Musk’s fears about the US economy by pointing to latest investments made by the electric-carmaker’s competitors. Biden also took an indifferent situation at Musk saying “Lots of luck on his trip to the moon”.Biden, on Friday, warmly praised some of Musk’s competitors for expanding …

Oil prices fell on Friday after the OPEC+ group decided to increase production targets a little more than planned, but global supply shortages and increased demand as China eased Covid-19 restrictions curbed losses. The OPEC + bloc, which includes the Organization of the Petroleum Exporting Countries (OPEC) and independent oil …

Oil prices were little changed on Friday and held on to the gains they made in the previous session on doubts that oil producers in the OPEC+ cartel could increase crude production enough to offset Russian oil supply shortfalls. the price of West Texas Intermediate crude futures rose one cent …

Lael Brainard, Vice Chairwoman of the Fed said on Thursday that the Fed is monitoring mixed signals on the US economy, but the number one priority will still be getting inflation down. Brainard has added that she does expect to see some cooling of the economy over time, and that …

The WTI crude oil flirts with intraday low amid accelerating concerns over recession in the China and the United States. These concerns currently impact the overall global energy demand outlook.WTI crude is still laggard for the third successive day, despite the latest bounce off intraday lows, as fears surrounding growth …

The Federal Reserve’s Beige Book report was released on Wednesday indicating that the status of the US economy continued to grow in recent weeks, with most Fed districts achieving slight to modest growth, down from the moderate activity reported in the April.the US dollar is higher, lifted by higher Treasury …

As tensions accelerate with China, Biden’s administration is forging closer ties with Taiwan in areas such as trade and supply chainsThe US Trade Representative’s office on Wednesday unveiled a new pact with Taipei to promote bilateral trade in areas such as digital trade, clean energy and labor rights. The two …

The economic consequences of Russia-Ukraine conflict include price surge in Germany hitting a record and inflation in Estonia topping 20 percent. In Spain, the annual inflation has reached 8.5 percent.In Germany, starting June, for example, the government will offer reductions for the price of gas at the pump and a …

Canadian real GDP expanded at a pace of 0.7% MoM in March, according to the latest data release by Statistics Canada on Tuesday. That was above the median economist forecast for a 0.5% MoM pace of expansion but down from February’s 0.9% MoM growth rate.