Investment banks have suffered the most from a downturn in M&A activity as investors shunned risky bets against the backdrop of volatile markets and rapidly rising interest rates.
The Biden administration "did nothing" to refill the U.S. Strategic Petroleum Reserve when oil prices were low, Canary CEO Dan Eberhart warns about energy insecurity.
Market analysts said the oil production cut announcement Monday from a powerful oil-rich Saudi-led coalition will drive U.S. gasoline prices higher ahead of peak driving season.
Treasury Secretary Janet Yellen said that the decision by OPEC+ to reduce oil production isn't a positive move for global growth amid persistent inflation.
GasBuddy head of petroleum analysis Patrick De Haan says OPEC's surprise production cut served as a "wild card" to gas prices, warning the Midwest and Florida will see spikes first.