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The Consumer Price Index (CPI) revealed headline inflation rose 0.1% over last month and 4% over the prior year in May, a slowdown from April's 0.4% month-over-month increase and 4.9% annual gain ...
The oil market is in another tailspin. Producer group OPEC+ is scrambling to stop the bleeding. And gas prices are falling fast, with more to come. All of this is music to the ears of drivers. US ...
Goldman Sachs has cut its forecast for the average oil price next year by 12%, citing abundant production in the United States. Goldman Sachs lowers its 2024 oil price forecast by 12% due to ...
Bloomberg Commodity Index. The Bloomberg Commodity Index (BCOM) is a broadly diversified commodity price index distributed by Bloomberg Index Services Limited. The index was originally launched in 1998 as the Dow Jones-AIG Commodity Index (DJ-AIGCI) and renamed to Dow Jones-UBS Commodity Index (DJ-UBSCI) in 2009, when UBS acquired the index ...
The Consensus forecast for euro-area producer price inflation significantly outperforms the naïve forecast in the short-term. Finally, the Consensus forecast for the USD/EUR exchange rate during the period from 2002 to 2009 is more precise than the naïve forecast and the forecast implied by the forward rate." [12]
Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
Oil resumed its downward trend on Tuesday, tanking more than 3% after oil alliance OPEC lowered its demand growth forecast in 2024 and 2025. On Tuesday, West Texas Intermediate slid roughly 4% to ...
The Department of Energy unveiled plans to purchase oil at a price of $79 per barrel or less, but has since purchased oil at higher prices. As of April 2024, further purchases were cancelled due to rising oil prices. [10] [15] According to legislation already in place, the amount of oil in the reserve could fall to 238 million barrels by 2028. [16]