Oil

More oil releases from the US Strategic Petroleum Reserve won't 'rock the boat', says UAE's energy minister

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Oil storage facility in Texas
An oil storage facility in Houston, Texas.

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Russia is slashing its oil output by 5% in retaliation to Western sanctions — but it also likely that it is struggling to find buyers in the first place

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Vladimir Putin
Russian President Vladimir Putin slammed the EU's price cap on Russian crude, calling it "stupid."

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ExxonMobil, Shell lead Big Oil's eye-watering $221 billion profit binge that Biden has slammed as 'outrageous'

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Oil refinery

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ChatGPT predicts US dollar dominance will give way to a multipolar currency system as China's yuan gains influence

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Dollar vs. Yuan

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US stocks end mixed after volatile session as indexes notch weekly losses

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Wall Street stocks financial markets
Wall Street has been hit by a brutal market sell-off this year.

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US stocks sink further with S&P 500 on course for worst week since December

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US stocks edged lower on Tuesday as more Wall Street banks reported mixed earnings

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American drivers are guzzling less gas as they work from home, in a potential shift for global oil: 'The heyday of gasoline is over'

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A woman holds a pump to the gas tank of a black car.
Americans are consuming less gas than before the pandemic.

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Oil and copper prices are weakening despite China's reopening. It's a sign a global recession is coming but liquidity issues may also be at play, economists warn.

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Copper
A worker ties copper wire rods before loading them onto a truck at the workshop of a company on January 29, 2023 in Huai'an, Jiangsu Province of China.

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Top Indian refiners are using the UAE's currency instead of the US dollar to buy Russian crude, report says

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Oil tanker

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ChatGPT has investors scrambling to get on the AI bandwagon so much that obscure stocks are soaring just like big-name chip companies

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Good morning, Opening Bell crew. Senior reporter Phil Rosen here. 

Yesterday, Fed Chair Jerome Powell gave a speech at the Economic Club of Washington, saying the stronger-than-expected labor market is going to make the inflation fight difficult.

"It kind of shows you why we think this will be a process that takes a significant period of time," Powell said, adding that the path forward is "probably going to be bumpy." 

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