It’s a devastating blow for an oil cartel that had been slowly fracturing for years amid the US shale oil boom.
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Fuel typically accounts for a quarter of carriers’ expenses, but that proportion’s likely to dramatically spike this year.
The S&P 500 ticked down 0.24% on Monday, snapping a 14-day winning streak that pushed the market to a record close on Friday.
The US electrical grid isn’t ready for the double whammy of peak air conditioner usage and peak data center power needs. What happens now?
Spending on newer military tech jumped more than 20% this year, feeding innovation like the device that helped rescuers find a downed aviator.
The oil price shock caused by the Iran war has turbocharged BP shares, pushing them up roughly 33% so far this year.
Morgan Stanley analysts on Monday granted the US LNG exporter a rare double upgrade, changing its rating from underweight to overweight.
The Bureau of Labor Statistics said Wednesday that the producer price index rose 0.7% month-over-month in February, higher than expected.
Markets are pricing in practically no chance of a rate cut when officials meet later this month, according to the CME Fedwatch.
The US-Israel conflict with Iran has triggered the biggest oil supply disruption ever, topping the 1956 Suez crisis.
Broad-market index funds were nearly flat Monday, while gold and defense ETFs were up. All that changed a day later.
Oil prices are surging as Iran’s counterattacks on the US and Israel curbed shipments through the Strait of Hormuz.
Shares in travel firms are plummeting as Iranian counter-attacks on the US and Israel target vacation spots such as Dubai and Abu Dhabi.