Burnham warns of ‘difficult decisions’ in budget as inflation rises to 3.1%
UK inflation rose to 3.1% in August as energy prices spiked amid Middle East conflict, prompting Prime Minister Burnham to signal difficult budgetary decisions ahead.
Trump Administration Finalizes Rule that Makes Cars Less Fuel Efficient
The Trump administration has finalized a rule rolling back federal fuel economy standards, potentially increasing gasoline costs for American families already facing affordability challenges.
EIA Reports Crude Build as Diesel Stocks Fall 14% Below Average
U.S. crude inventories increased by 900,000 barrels during the week ending September 25, rising 2% above the five-year average, while distillate stocks fell 14% below normal levels.
Oil Price Forecasts Jump as Hormuz Disruption Drags On
Oil price forecasts have risen sharply as analysts expect extended disruption to shipping through the Strait of Hormuz, with Brent crude now projected to average $89.05 per barrel this year.
Europe Gets Hit by Another Energy-Driven Inflation Shock
European inflation is accelerating due to surging energy prices, with Spain and Italy seeing significant increases in September. The ECB faces a delicate balancing act between controlling inflation and protecting economic growth.
The World’s Diesel Problem Runs Deeper Than the Iran War
Global diesel and jet fuel shortages predate recent Middle East disruptions, stemming from fundamental production challenges with heavier crude oils that are more expensive to extract and refine.