Biden’s gasoline sale likely won’t have a major impact on summer pump prices
A sign displays gas prices at a gas station on May 21, 2024 in Chicago, Illinois. Scott Olson | Getty Images But the barrels in the Northeast Gasoline Supply Reserve are equivalent to just 2.65 hours of total U.S. gasoline…
Biden to release 1 million barrels of gasoline to reduce prices at the pump ahead of July 4
A customer gets gas at a Shell station on May 15, 2024 in Miami, Florida. Joe Raedle | Getty Images The Biden administration will release 1 million barrels of gasoline from reserves held in the Northeast to reduce prices at…
Japanese yen touches 160 to the dollar; Asia stocks rise as Fed meeting looms
An Hour Ago Japanese yen weakens to 158 against the dollar The Japanese yen weakened to 158.43 against the U.S. dollar, touching a fresh 34-year low. On Friday, the Bank of Japan held interest rates steady at the end of…
Japanese yen weakens to 156 against dollar after Bank of Japan leaves rates unchanged
An editorial montage of the Japan flag and Japanese yen cash bank notes. Javier Ghersi | Moment | Getty Images The Japanese yen slid to over 156 against the U.S. dollar on Friday after the Bank of Japan left its…
Asia markets mixed ahead of Bank of Japan’s rate decision; Tokyo inflation falls more than expected
32 Mins Ago Tokyo inflation slows sharply in April, core inflation sharply lower than expected Inflation in Japan’s capital city of Tokyo slowed to 1.8% in April, down from the 2.6% gain in March. Core inflation in the city —…
Middle East escalation could trigger energy shock that fuels inflation, World Bank warns
A general view of Isfahan Refinery, one of the largest refineries in Iran and is considered as the first refinery in the country in terms of diversity of petroleum products in Isfahan, Iran on November 08, 2023. Fatemeh Bahrami |…
Asia markets take a breather as South Korea beats first-quarter GDP expectations
17 Mins Ago South Korea first quarter GDP climbs 3.4%, fastest quarterly growth since Q4 2021 South Korea posted GDP growth of 3.4% in the first quarter, beating the 2.4% expected by economists polled by Reuters and marking its highest…
Asia markets extend declines amid Iran-Israel tensions; China’s GDP beats expectations
14 Mins Ago China’s March industrial output and retail sales data miss expectations China’s industrial output for March grew 4.5% year-on-year, missing Reuters’ expectations of a 6% expansion. China’s manufacturing industry grew 5.1% while its mining industry grew 0.2%, according…
Ukraine’s attacks on Russian oil refineries shows the growing threat AI drones pose to energy markets
Smoke billows after Ukraine’s SBU drone strikes a refinery, amid Russia’s attack on Ukraine, in Ryazan, Ryazan Region, Russia, in this screen grab from a video obtained by Reuters, March 13, 2024. Video Obtained By Reuters | Via Reuters Ukraine’s…