Oil slipped from the highest close since 2014 after President Joe Biden pledged to continue trying to lower prices and an industry report pointed to a modest increase in U.S. crude stockpiles.
Futures in New York dipped below $87 a barrel after advancing almost 6% over the past three sessions. While Biden does have some options to address the increase in oil prices, many of them would be limited and likely short-lived. Crude’s rally poses a challenge for consuming nations and central banks as they try and stave off inflation while supporting economic growth.
"oil" - Google News
January 20, 2022 at 06:47AM
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Oil Prices Drop From 7-Year High With Biden Pledging to Tackle Prices - Bloomberg
"oil" - Google News
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