ContributorsPublishersAdvertisers

Gas Price

CNBC

Oil prices dip after industry data shows U.S. crude stockpiles rising

Oil prices edged lower on Wednesday, after industry data showed U.S. crude inventories unexpectedly rose last week, signaling a potential hiccup in demand. U.S. crude stocks rose by about 2.2 million barrels for the week ended Aug. 5, according to market sources citing American Petroleum Institute figures. Analysts had forecast a small 400,000-barrel drop in crude inventories.
TRAFFIC
Picture for Oil prices dip after industry data shows U.S. crude stockpiles rising

Oil rises on renewed gasoline demand, weak dollar

NEW YORK, Aug 10 (Reuters) - Oil prices rose on Wednesday, rebounding from losses early in the session, helped by encouraging figures on U.S. gasoline demand and as lower-than-expected U.S. inflation data drove investors into riskier assets.
TRAFFIC
Picture for Oil rises on renewed gasoline demand, weak dollar
RELATED PEOPLE

Why Gas Prices Dropping in Idaho Isn’t as Good as You Think

Gas prices have been a popular topic in the year 2022. Gas prices spiked to the highest they have ever been, and many across America have made adjustments. Many regions thought they would never see gas go above five dollars in their lifetime, and it not only surpassed that but did so by a significant amount. Gas has slowly been coming back down, and while customers are excited to see the price decrease, it still has a long way to go before it lowers back down to pre-spike prices. The prices coming down is a good sign, but before you get too excited, it may not be as good as it seems.
IDAHO STATE
RELATED PUBLISHERS

Inflation slowed in July, showing Fed's rate hikes are working

Inflation slowed in July as gasoline prices dropped, a sign the Federal Reserve's efforts to control spiraling prices are taking effect.Consumer prices last month rose 8.5% from the same month a year ago, the Labor Department reported on Wednesday — lower than economists had expected and down from 9.1% in June. Core inflation, which strips out volatile food and gas numbers, rose 5.9% annually, the same rate as in June and slightly lower than analyst forecasts."Largely driven by falling gas prices, inflation dipped slightly in July to 8.5%, down from the 40-year high reported in June," Bright MLS chief economist...
MLS
YOU MAY ALSO LIKE

Online prices fall for the first time in two years

Online shoppers are finally seeing lower prices for some goods, a sign the searing inflation that has scorched the U.S. economy may be starting to cool. Online prices began to ease in July — the first dip in two years — falling 1% from a year ago, new data from Adobe Analytics shows. The biggest drops were for electronics, apparel and toys, while prices for jewelry, books, computers and sporting goods also declined.
BUSINESS

Experts see inflation reprieve in America

Is inflation finally slowing down in the United States? Consumer prices have continued to climb in the United States, squeezing family budgets and, and by extension, Biden's popularity.
BUSINESS
CNBC

5 things to know before the stock market opens Wednesday

Here are the most important news items that investors need to start their trading day:. Markets were set to open in positive territory Wednesday morning, ahead of two key reports: The consumer price index and Disney earnings (more on both below). Investors are hoping for a rebound after all three major indices closed lower Tuesday. There are also a couple of Fed officials on the schedule Wednesday, both of whom could provide more clues about how the central bank is thinking about inflation and future rate increases. Federal Reserve Bank of Chicago President Charles Evans is slated to speak at 11:00 am ET in Des Moines, while Minneapolis Fed President Neel Kashkari will talk later during a panel about stagflation at the Aspen Economic Strategy Group.
STOCKS