Oil prices creep higher, raise inflation concerns By DAMIAN J. TROISE AP Business Writer NEW YORK (AP) — Oil prices are creeping higher and raising concerns about the impact on inflation’s cooling trajectory, consumers’ wallets and the Federal Reserve’s interest rate policy. U.S. crude oil prices started rising in early summer after slipping or holding relatively steady for most of …

Oil prices creep higher, raise inflation concerns By DAMIAN J. TROISE AP Business Writer NEW YORK (AP) — Oil prices are creeping higher and raising concerns about the impact on inflation’s cooling trajectory, consumers’ wallets and the Federal Reserve’s interest rate policy. U.S. crude oil prices started rising in early summer after slipping or holding relatively steady for most of …

Saudi Arabia extends cut of 1 million barrels of oil a day, potentially boosting prices at the pump DUBAI, United Arab Emirates (AP) — Saudi Arabia said Thursday it will extend its unilateral production cut of 1 million barrels of oil a day through the end of September in its effort to boost flagging energy prices, a move that could …

Saudi Arabia and Russia are cutting oil supply again in bid to boost prices LONDON (AP) — Saudi Arabia and Russia are extending cuts to the amount of oil they pump to the world in a bid to prop up prices, showing how two of the world’s largest oil producers are scrambling to boost income from the fossil fuel even …

CHAMA (AP) — Projected revenues for the next budget year are expected to deliver another windfall to New Mexico’s coffers — courtesy of the oil and gas industry. New estimates released last Wednesday by legislative and executive economists during a meeting of the Legislative Finance Committee in Chama show lawmakers will have a projected $2.5 billion in new money. That’s …

LONDON (AP) — OPEC and allied oil-producing countries decided Thursday to gradually increase the flows they send to the world, even as Europe’s plan to sanction Russian oil threatens to yank millions of barrels off a global market already thirsty for crude. The cautious approach from the OPEC+ alliance — which includes non-member Russia — will exacerbate a global energy …

For the News-Sun The count of active oil and gas drilling rigs in the Permian Basin posted its largest gain since January 2021 last week with the addition of nine rigs for a new total of 332, compared to 224 a year ago. That total is up 13.3 percent since starting the year with 293 rigs. As of April 8, …

Chris Phelan/Wealth of Geeks Inflation has taken over nearly every aspect of U.S. consumerism, and gas prices are no exception. The average price of a gallon of gas in the U.S. is at an all-time high of $4.43, significantly above the previous record of $4.11 set in 2008. Certain parts of the country are experiencing even higher prices: drivers in …

By STAN CHOE and ALEX VEIGA AP Business Writers NEW YORK (AP) — Technology companies led stocks broadly higher on Wall Street Tuesday, as oil prices slid sharply for the second day and inflation worries ebbed. The market rally came a day ahead of the Federal Reserve’s highly anticipated interest rate policy update. The S&P 500 rose 2.1%, ending a …

EXPLAINER: What does a US ban on Russian oil accomplish? By CATHY BUSSEWITZ and MATTHEW DALY Associated Press NEW YORK (AP) — With Russia intensifying its war on Ukraine, killing civilians and triggering a mass refugee crisis, President Joe Biden on Tuesday announced a U.S. ban on imported Russian oil. Critics of Russia have said that sanctioning its energy exports …