Joe Biden vows to bring down fuel prices
As soaring gasoline prices fuel the discontent of American voters, the White House strives to push prices down. US President Joe Biden pledged to use every available tool to solve this problem. “In the United States, I’m using every lever available to me to bring down prices for the American people. Our nations are working together to stabilize global energy markets, including coordinating the largest release from global oil reserves in history,” Biden said.
According to Joe Biden, the international community must find long-term solutions and work together to resolve the global fuel crisis. In late March, the US President blamed Russia for skyrocketing gasoline prices, stating that the “Putin’s price hike” hit Americans at the pump.
Foreign investors making farewell to China
Foreign market players are reluctant to invest in China due to a recent shift in Beijing’s policies on high-tech companies. Apart from it, leaders of Western countries express tough rhetoric on China because of its dodgy trade practices. Such aversion is already squeezing Chinese financial markets.
10:46 2022-08-08 UTC+00
Heatwaves in EU to escalate energy crisis
Analysts at Rystad Energy believe that the energy crunch in Europe may intensify due to extremely hot weather. Europe is racing to store enough gas for winter but its power system is being strained by sweltering summer temperatures.Analysts also noted that Europe was absolutely not ready for such abnormal heat.
06:16 2022-08-08 UTC+00
US expects OPEC+ oil production hike after Biden's Middle East trip
The hopes of Americans for an increase in oil output by Saudi Arabia seem to be coming true. The media have described US President Joe Biden's Middle East tour as a failed project until recently, but now news outlets are reporting his success. Thus, The US administration anticipates major oil producers in the OPEC+ alliance to boost crude production following Biden's trip to Saudi Arabia.
13:36 2022-08-05 UTC+00
Real economy essential for US economic growth
Experts believe investments in national companies will become the catalyst for US economic growth. However, analysts are now focusing on the real economy, a part of a country’s economy that produces goods and services.Stock market experts recommend investors monitor both the Fed’s key rate decisions and the development of the US economy.
13:27 2022-08-05 UTC+00
Iraq’s energy minister expects oil to trade above $100 per barrel
Everybody knows that Iraq frequently provides the global community with new forecasts about the future of oil prices. This time, Iraqi Oil Minister Ihsan Abdul Jabbar announced that oil would trade at $100 per barrel. For some people, it is common knowledge since crude has been trading above this level for the better part of the year already. However, for others, it came as a real surprise.
12:34 2022-08-05 UTC+00
Bundestag member claims Germany needs Russian gas
Yevgeny Schmidt, an MP for the Alternative for Germany party, expressed the opinion that Russia would help Germany survive the ongoing energy crisis. The official stressed that gas supplies from Russia would allow Germany to avoid an energy crisis in winter. In addition, the Bundestag member flagged that the Nord Stream 2 pipeline should be launched as soon as possible.
12:29 2022-08-05 UTC+00