WTI crude oil prices fell to their lowest point since early February on Thursday, abandoning virtually all gains since Russia invaded Ukraine. WTI crude for September delivery fell -1.5% to close at $89.26/barrel, while Brent crude for October delivery fell -2.1% to $94.71 /barrel. WTI crude has lost ~9.5% over the course of the week, … Read more
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A vehicle drives into a BP service station in central London, Great Britain, on Aug. 2. Oil started to rise late last year, well before the Russian invasion of Ukraine on February 24.HENRY NICHOLLS/Reuters UN Secretary-General António Guterres called them examples of “exceptional greed.” A Friends of the Earth campaigner said: “It’s unbelievable that these … Read more
There are new calls for big companies to curb their large or “supernormal” profits to provide low-wage a much-needed domestic help. Most important points: Major oil and gas companies have nearly doubled their profits in six months An interim report shows productivity growth driving real wages is at a 60-year low Some experts say the … Read more