There is a risk that oil prices could hit $100 per barrel next year for the first time since 2014, according to new research from Bank of America Merrill Lynch.
President Donald Trump pressed automakers to build more cars in the U.S. during a meeting Friday with representatives from top international car manufacturers, including CEOs from all of the Detroit Three.
The leaders of the world’s biggest car companies are arriving at the White House on Friday, and it may be their last chance to stop the Trump administration from a head-on collision with California.
U.S. drivers who’ve noticed higher prices at the pump may be tempted to blame Trump’s Iran decision, but it’s only one factor at play right now.
The U.S. is giving its allies 180 days to extricate themselves from Iranian oil deals, making explicit its desire to start curbing the nation’s crude exports quickly in a bid to go after Tehran’s economic lifeline.
Hedge fund manager Kyle Bass thinks demand for oil is about to go up. “Crude is going to go from a glut to a shortage in the next two years.”
President Donald Trump’s broadside against foreign oil producers on Friday took investors by surprise and included some notable inaccuracies about the state of the oil market.
Two weeks after winning a victory against aggressive federal fuel economy rules aimed at speeding adoption of electrified vehicles, the U.S. auto industry went to Capitol Hill last week to press Congress for a national fuel octane standard that would help increase the efficiency of the internal combustion engine.
Oil prices jumped to their highest level since 2014 Wednesday, as worries about fighting in the Middle East spooked markets.