Oil hit a 9-month high yesterday thanks to Iran halting exports to Europe in advance of a ban on Persian oil. Pundits have in recent days been crowing that the resulting higher gas prices, which could go above $4 a gallon within the next few weeks if tensions in Iran continue, could hurt the presidents’ election prospects. Republicans like John Boehner are urging conservative politicians to embrace “pump anger.
A law to be debated in Iran's parliament could halt exports of oil to the European Union as early as next week. ||| A law to be debated in Iran's parliament on Sunday could halt exports of oil to the European Union as early as next ... Read Post
By Jonathan Leff NEW YORK (Reuters) - Americans are more likely than ever to favor easing a ban on exporting crude oil, so long as it does not lead to higher gasoline prices that have recently sunk to near $2 a gallon, according to ... Read Post
The oil industry has taken a huge hit from plunging oil prices, according to the latest Fed Beige Book. The impacts are nation-wide, though largely centered in the Midwest: Oil and natural gas drilling declined in the Cleveland, Min... Read Post