The national average for a gallon of gas has fallen below $4 for the first time since early March. The U.S. average has tumbled 20 percent since its June peak, AAA data shows, as fears of a global recession moved oil prices sharply lower.
Crude prices that had been hovering near $80 a barrel in January had pushed past $120 by March, on fears the Russian conflict would curtail supply and disrupt energy markets. Pump prices soon followed, swelling nearly 20 percent roughly a week after the Feb. 24 invasion.But oil prices have been cooling since early June, with West Texas Intermediate crude, the U.S. benchmark, hovering around $91 per barrel on Thursday.
Experts say the sell-off is largely driven by worries of a possible recession in several large global economies, which would crimp fuel demand. Economists have been warning of a possible recession in the United States for months. Jeff Buchbinder, chief equity strategist for LPL Financial, said in a Monday note that he thinks the odds of a U.S. recession in the next year are “perhaps a coin flip or better,” despite the Labor Department’s
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Pentagon Contractors in Afghanistan Pocketed $108 Billion Over 20 Years'These contracts show the shadowy 'camo economy' at work in Afghanistan,' said the author of a new Costs of War Project report on $108 billion in military contracting over the past two decades.
Baca lebih lajut »
Major test of 1st possible Lyme disease vaccine in 20 years beginsWhat is Lyme disease? Black-legged ticks, also called deer ticks, carry Lyme-causing bacteria. The infection initially causes fatigue, fever and joint pain.
Baca lebih lajut »
Brawl erupts between up to 20 family members at Bay Area funeralFamily members used a cane and a car as weapons in the dispute, police said.
Baca lebih lajut »
Major test of 1st possible Lyme disease vaccine in 20 years beginsWhat is Lyme disease? Black-legged ticks, also called deer ticks, carry Lyme-causing bacteria. The infection initially causes fatigue, fever and joint pain.
Baca lebih lajut »
Major test of first possible Lyme vaccine in 20 years beginsResearchers are seeking thousands of volunteers in the U.S. and Europe to test the first potential vaccine against Lyme disease in 20 years -- in hopes of better fighting the tick-borne threat.
Baca lebih lajut »
PolitiFact - Yes, Wisconsin’s abortion law is older than 20 U.S. statesWith a U.S. Supreme Court ruling near, which could overturn or substantially modify the decades-old Roe vs. Wade decisio
Baca lebih lajut »