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Tag Archives: price inflation
BofA: Sharp Decline In Russian Exports Could Send Oil Above $150
BofA: Sharp Decline In Russian Exports Could Send Oil Above $150 Analysts: Asian buyers are unlikely to be able to absorb all the Russian oil unwanted in the West. There is a distinct possibility of a sharp drop in Russian oil exports. BofA: A sharp contraction in Russian oil exports could push Brent well past […]
Brent crude rises above $120 a barrel as UK fuel prices hit record highs
Brent crude rises above $120 a barrel as UK fuel prices hit record highs Price increases on global oil markets and at UK forecourts add to concerns about rising inflation and its impact Diesel prices in the UK hit a record 182.7p a litre on Saturday, taking the cost of filling up a 55-litre diesel […]
Households Worldwide Wrecked By Soaring Gas Prices
Households Worldwide Wrecked By Soaring Gas Prices Soaring commodity prices have been financially devastating for households, devoting larger and larger shares of disposable income to pay for energy. For instance, at nine California filling stations, the price of regular gas is higher than the federal minimum wage. Patrick De Haan of GasBuddy said several gas stations in Los […]
Citi: Soaring Energy Bills Raise Chances Of Windfall Taxes In Europe
Citi: Soaring Energy Bills Raise Chances Of Windfall Taxes In Europe Gas and electricity bills in Europe could jump to 4.5 percent of household disposable income in 2023. Rising utility bills raise pressure on politicians to implement windfall tax. Rising energy commodity prices weigh most on Eastern European countries. The higher the energy bills in […]
Let Them Eat Bugs… How Out of Touch Elites Reveal Their Contempt and What Comes Next
Let Them Eat Bugs… How Out of Touch Elites Reveal Their Contempt and What Comes Next Upon being told that the people had no bread, Marie Antoinette reportedly responded, “let them eat cake.” These infamous words were a stark illustration of the French elite’s careless indifference to the plight of ordinary people. Moreover, they likely […]
Gold As Cheap Today As In 1971 At $35
GOLD AS CHEAP TODAY AS IN 1971 AT $35 “Specie (gold and silver coin) is the most perfect medium because it will preserve its own level, because having intrinsic and universal value, it can never die in our hands, and it is the surest resource of reliance in time of war.” – Thomas Jefferson Since no […]
Report: US Gas Prices Could Double Soon, Amid Potential Supply Shortage
Report: US Gas Prices Could Double Soon, Amid Potential Supply Shortage Prices for gas at an Exxon gas station on Capitol Hill are seen March 14, 2022 in Washington, DC. (Photo by Win McNamee/Getty Images) Some gas stations across the country are already bracing for the Next Big Thing involving surging fuel prices, namely the […]
US Gasoline Prices Hit New Record Amid Refinery Bottlenecks And Tight Supplies
US Gasoline Prices Hit New Record Amid Refinery Bottlenecks And Tight Supplies US retail gasoline prices soared to another record on Monday as global refineries struggled with adding new capacity ahead of the driving season. Before diving into Goldman Sachs’ new commodity note explaining how global refining will be tight for the foreseeable future, last week, […]
Just a hint from the mainstream that limits precipitate rising oil prices
Just a hint from the mainstream that limits precipitate rising oil prices Last week a Bloomberg writer at the very end of an article explained that the “only solution” to high gasoline and diesel prices is recession. While I would not accuse the writer of advocating degrowth—this would be too radical for a mainstream business publication—his […]
European Natural Gas Prices To Triple In “Perfect Storm”
European Natural Gas Prices To Triple In “Perfect Storm” A top commodity research firm in Norway warns a “perfect storm” is brewing as European energy security worsens following Russia’s invasion of Ukraine, which could result in the tripling of natural gas prices. “There simply is not enough LNG around to meet demand. In the short term, […]
Food Riots In Sri Lanka Turn Deadly As Protesters Beat Up Police, Burn Down Politicians’ Houses
Food Riots In Sri Lanka Turn Deadly As Protesters Beat Up Police, Burn Down Politicians’ Houses Two months ago, we noted the first Arab Spring 2.0 incident when, as a result of soaring food, energy (and everything else) prices, thousands of angry Iraqis took to the street to protest. Needless to say, their complaints did not get much […]
Gasoline & Diesel Prices Spike to New WTF Records, But Don’t Blame Crude Oil
Gasoline & Diesel Prices Spike to New WTF Records, But Don’t Blame Crude Oil Predictions a few weeks ago of peak gasoline prices have been obviated by the inflationary mindset. The average price of all grades of gasoline at the pump spiked to a record $4.33 per gallon on Monday, May 9, the third week in […]
US Gas Prices Soar As Europe And Asia Scramble For LNG
US Gas Prices Soar As Europe And Asia Scramble For LNG U.S. gas prices have surged to the highest level in real terms since the financial crisis in 2008 as strong demand for LNG from buyers in Europe and Asia puts pressure on inventories. Front-month futures for gas delivered to Henry Hub in Louisiana are […]
Buckle Up for a Crashing Economy and More Inflation
Buckle Up for a Crashing Economy and More Inflation Jerome Powell began hinting that inflation might be a problem last August. In November, Powell retired the word “transitory.” But here we are in May and the Federal Reserve still hasn’t done anything substantive to address the inflation problem. And now it may be too late. It’s probably […]
U.S. East Coast Diesel Supply Is Running on Fumes
U.S. East Coast Diesel Supply Is Running on Fumes The horizon south of the Statue of Liberty is interrupted by the silhouettes of several oil-tank farms. New York harbor is the home of Wall Street and financial wizardry, but it’s also the place where old-school oil traders still buy and sell refined petroleum products the […]
