US Congress about to BAN RUSSIAN OIL. have fun at the gas station next week!

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Just in the money desks…




PAIN: Americans warned to budget for $5-A-GALLON gas this summer…

  • Americans will see gas prices to rise to $5 in the coming weeks, as the cost of oil continues to rise in the days following Russia’s invasion of Ukraine, experts say 
  • The US national average soared to $3.72 per gallon Thursday, with cities like San Francisco seeing an average of $5.05 a gallon and Los Angeles at $5.01
  • In states with more costly fuel, such as California and Hawaii, motorists are already are paying nearly $4.50 a gallon, AAA data shows
  • California currently sports the highest average gas prices of the 50 states, at $4.80 per gallon, followed by Hawaii at $4.52/gallon and Nevada, at $4.02 
  • The spike is unlikely to ease soon, according to oil analysts, as the conflict between Russia – one of the world’s major oil producers – and Ukraine intensifies
  • Oil prices have rallied amid shipping and supply concerns spurred by Russia’s invasion, with both U.S. crude and Brent at their highest points in over a decade 
  • Russia is a major energy producer, hence the swings in volatile energy prices 
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Wheat Mounts Historic Week as War Sparks Deepening Supply Fears…

‘Economic destruction’ may lie ahead as oil prices push higher

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The world could be on the brink of an energy crisis rivaling the 1970s, says IHS Markit’s Yergin

Coal, normally ~$100 per tonne now $400

h/t SS

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