In a week marking the best performance for US Crude oil in over four months, consumers brace for potential impacts on their wallets as positive economic news reverberates across the globe.
#russia #oil #revenue
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While in a week marking the best performance for us crude oil in over four months consumers brace for potential impacts on their wallets as positive economic news they cross across the globe us oil closed at $78 a barrel marking a 6.27% weekly gain while the Brent contract settled at $83.65 a barrel up
6.35% for the week the surge in oil prices translating to a more than 8% increase for the Year underpinned by strong economic growth reports in the US and China as well the US reported a strong 3.3% economic growth in the fourth quarter surpassing the 2% expectation while China eases reserve
Requirements for its banks to stimulate growth experts suggest that the world’s two largest oil consumers could drive substantial demand throughout the year for consumers this uptick in oil prices implies potential increases at the gas pump the national average for a gallon of gas in the US reached
$3.10 on Friday marking a slight uptick from the previous week experts anticipate that gas prices may continue to rise into the spring as well another contributing factor to the surge in oil prices is a reduction in crude Supply in the US due to winter storms additionally
OPC and its allies p plus plan to maintain oil output Cuts cutting 2.2 million barrels per day to support prices Beyond economic factors geopolitical tensions in West Asia add a layer of uncertainty reports of a Ukrainian drone attack on a Russian fuel terminal further highlights the tensions and the threats to fuel
Supplies as consumers it’s crucial to stay tuned to these Global events as they can have a direct impact on our pockets the fluctuation in our prices oil prices influenced by economic indicators and geopolitical tensions they underscore the interconnected pardon me the interconnectedness of the global economy and its tangible effects on everyday Expenses