Weekly Snapshot
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Oil Holds near $67 as Market Tumult Subsides after OPEC Worries
Market turmoil has weighed on oil, erasing all of the gains in WTI crude prices this month as the prospect of rising production from Saudi Arabia and Russia emerged ahead of a June meeting between OPEC and its allies. Click here to read more.
It Feels Like 2012 again as Europe Markets Shudder on Italy
The euro fell to a 10-month low of $1.151 against the dollar on Tuesday, and the Japanese yen led gains in the Group-of-10 currencies on haven demand. Asian stocks sank in early trading on Wednesday, while risk barometers from Treasury yields to gold stabilized. Click here to read the full story.
Why American Oil Can Keep Booming despite Crazy Swings
A few words from Saudi Arabia about OPEC and Russia pumping more oil sent crude crashing 8% in the span of just a few days. Yet the crazy price moves are unlikely to hinder American oil production. Click here to read why American energy companies are built to weather this storm.
Gas Prices Are Up 31% from Last Memorial Day – Here’s Why
Prices at the pump had not been this high heading into the biggest driving holiday of the year since 2014, when crude was sitting in triple-digit territory. People are driving more: The United States is consuming more gasoline, thanks to the strong economy and upbeat consumer confidence. Click here to read more.
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