5 thoughts on “American consumers want to know…

  1. 骑虎难下 says:

    “Covid fears are rocking the oil market Monday as China’s planned lockdown of Shanghai raises concerns about energy demand.
    US crude tumbled 7% and Brent lost 6.8% on the Covid news, giving back most of last week’s big gains. The heavy selloff comes after officials in China announced plans to lock down half of Shanghai for mass Covid-19 testing beginning Monday.” https://www.cnn.com/2022/03/28/business/oil-prices-covid-shanghai/index.html
    “…For weeks, the market has been almost entirely focused on supply disruptions caused by Russia’s invasion of Ukraine.
    Yet Monday’s selloff shows markets remain sensitive to shifts in energy demand, especially in China, the largest oil importer on the planet. Not only does China consume massive amounts of gasoline, jet fuel and diesel, but it’s also the largest source of energy demand growth in the world.”

  2. Ka-ching says:

    Oil producer group OPEC+ on Thursday decided to stick to its strategy of gradually reopening the taps following reports the U.S. is considering the largest ever draw from its emergency oil reserve.
    The influential energy alliance of OPEC and non-OPEC partners swiftly agreed to raise its output targets by 432,000 barrels per day from May 1.
    Oil prices have rallied to a near all-time high on concerns about Russian supply disruptions after the U.S. and international allies imposed a barrage of economic measures against the Kremlin as a result of its unprovoked onslaught in Ukraine.
    Oil prices dropped sharply on the news that the U.S. is considering a plan to cool soaring crude prices by releasing up to 180 million barrels from the country’s strategic petroleum reserve
    International benchmark Brent crude futures traded 5% lower at $107.69 a barrel Thursday afternoon in London, while U.S. West Texas Intermediate futures fell 5.4% to $101.96.

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