Surging oil prices could sour soft landing hopes, but it won't spark a crisis like the 1970s, market veteran says

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A 3D-printed oil pump jack in front of the OPEC logo in this illustration picture SOURCE: REUTERS
A 3D-printed oil pump jack in front of the OPEC logo in this illustration picture SOURCE: REUTERS

Dado Ruvic/Reuters

Oil hovers near $95 a barrel as global crude surges to its highest level in 10 months

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oil rig

REUTERS/ Vivek Prakash

CHART OF THE DAY: US crude oil tops $90 a barrel for the first time in 10 months

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Crude Oil

Koyfin

Tech drags US stocks lower as Oracle drops and Apple slides after iPhone event

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Apple CEO Tim Cook presents at WWDC 2023
Apple CEO Tim Cook speaks before the start of the Apple Worldwide Developers Conference at its headquarters on June 05, 2023 in Cupertino, California.

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The biggest oil deficit since 2007 will hit in the 4th quarter as Saudi Arabia cuts supply

Tech Insider : Economy
oil worker barrels
A worker prepares to transport oil pipelines to be laid for the Pengerang Gas Pipeline Project at an area 40km (24 miles) away from the Pengerang Integrated Petroleum Complex in Pengerang, Johor, Malaysia.

Reuters/Edgar Su

Oil prices are surging again, but this time Biden has way less ammunition to bring them down

Tech Insider : Economy
Joe Biden
President Joe Biden

Kevin Dietsch/Getty Images

The Fed won't raise interest rates this month but rising oil prices could spur a future increase, top economist Mohamed El-Erian says

Tech Insider : Economy, Economy
Mohamed El-Erian
Mohamed El-Erian

Shannon Stapleton/Reuters

Oil prices soar to 10-month high as Russia and Saudi Arabia commit to slash production for longer

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oil rig

Andrew Burton/Getty Images

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