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Oil prices slumped over 2% on Tuesday on signals that central banks may not be done with interest rate hikes, while industry data showed lower US crude and gasoline inventories during the peak summer driving season.
The West Texas Intermediate (WTI) rose to its highest level in two weeks and then stabilized at $72.40 following Jerome Powell’s testimony before the
The Dow Jones dropped 232.79 points, to 33,979.33. The broad-based S&P 500 rose 3.58% at 4,372.59, while the tech-rich Nasdaq climbed 0.4% to 13,626.48.
The consumer price index rose at an annual rate of 4% in May, the lowest level since March 2021.
2024. this is not about opec or opec plus, just the saudis pushing this. brent is the world contract, that is up. wti, west texas intermeediat is up 2%. going into the summer driving san, this is the move from the saudis you don't want to see, this will impact americans as they hit the road. i believe summer is underway. this is the problem. not just gasoline, think about jet fuel and nat gas prices, those are higher. this is a big problem from the saudis. >> todd: i'm no expert, i believe the answer is under our feet. i believe we could drill, joe biden doesn't want to do that.