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Stocks tumble as oil surges and gas prices spike
Stocks fell sharply Monday morning as oil prices surged above $100 a barrel after Middle Eastern producers began cutting output amid the escalating war with Iran. The Dow Jones dropped 634 points or 1.34 percent, while the S&P 500 and Nasdaq also…
Chances of gas prices hitting $5 by end of March
Gas prices are soaring as global oil markets reel from the new conflict in the Middle East, raising concerns that American motorists could be paying $5 at the pump by the end of the month. According to data from GasBuddy, the average price for…
Energy secretary on rising gas prices: 'This is not a months thing'
Energy Secretary Chris Wright on Sunday said the spike in gas prices will not stick, arguing rising prices resulting from the war in Iran will not last for months. “Look, you never know exactly the time frame of this, but, in the worst case…
Oil Surge Drives Market Selloff, European Gas Futures Jump, More
Bloomberg News Now • Browse all episodes Listen for the latest from Bloomberg News…
European Gas Prices Surge 30% as Middle East War Roils Markets
European natural gas prices jumped as the war in the Middle East continues to rock energy markets and disrupt shipments of seaborne supplies. Benchmark futures jumped as much as 30% on Monday, extending their biggest weekly advance since the energy…
China vows to stabilise oil and gas output in new 5-year plan amid global risks
Against the backdrop of oil prices surging past US$100 per barrel for the first time since the onset of the Russia-Ukraine war in 2022, China has its sights set on strengthening energy security by stabilising domestic crude production and strategic…
European Natural Gas Prices Soar Again
European natural gas prices jumped again on Monday, now almost doubling since the start of the war. Benchmark prices rose above €60 per megawatt hour, compared with €32 before the U.S. attack on Iran. Attacks across the Middle East…
Watch Expect $4 at the Gas Pump Soon, Ed Morse Warns
Expect $4 at the Gas Pump Soon, Ed Morse Warns Ed Morse, senior adviser at Hartree Partners, assesses the impact of the Iran war and the Strait of Hormuz disruption on global energy markets. He ranked the crisis as more serious than anything since…
Moment gas pipes explode in Tehran streets after Israeli strikes
Get your news delivered straight to you by 7am - sign up to our new Morning Mail newsletter for FREE LIVE A huge gas pipe explosion caused the ground to shake on the streets of Tehran after Israel struck oil depots in Iran. Israel has hit Iran's…
Wall Street braced for huge sell-off as gas prices hit $8-a-gallon
Wall Street is bracing for another turbulent week after oil prices surged above $100 a barrel on Sunday night as the war with Iran continues to disrupt global energy supplies. The spike has already begun hitting Americans in their wallets. The…
More gas from Russia? China flags new pipeline links amid Iran energy crisis
China has included several natural gas pipelines with Russia in the draft of its new five-year plan, raising market debate on whether the Power of Siberia 2 – a closely watched project viewed as symbolic of bilateral relations – could…
Gas prices have already jumped 17% since US attacks on Iran started
Gas prices have risen almost 17 percent since the U.S.-Israeli airstrikes on Iran began just over a week ago. Prices climbed again early Monday, hitting an average cost of $3.48 per gallon according to the American Automobile Association. There are…
U.S. Drivers Could See $4 Gas by the Weekend, Energy Advisor Says
The average price of gasoline in the U.S. is barreling toward $3.50 a gallon, and American drivers can expect to pay $4 a gallon by the weekend, Amos Hotchstein, a former energy advisor to the Biden and Obama administrations, said on CNBC's Squawk…
European Gas Prices Surge as Middle East War Curtails Supply - Market Talk
0749 GMT – European natural-gas prices extend last week's staggering gains as the war in the Middle East continues to roil energy markets, severely disrupting supplies. In early trading, the benchmark Dutch TTF contract climbs 19% to 63.64…
The vulnerability of Iran's oil, gas lifeline
For the first time since the war began, the IDF has struck 30 fuel storage facilities belonging to the Iranian military, undermining Tehran's claims that these installations were purely civilian infrastructure. Beyond the immediate smoke and fire…
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