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☆ BofA: Investors are becoming more constructive on the commodity complex
▼ + stars: | 2024-05-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBofA: Investors are becoming more constructive on the commodity complexFrancisco Blanch, Head of Global Commodity and Derivatives Research at BofA Securities, disucsses the surge in commodity prices, including copper and cocoa.

Persons: Blanch Organizations: Global Commodity, BofA Securities

☆ Corn hits 3-month high; soy, wheat climb on global crop weather woes
▼ + stars: | 2024-05-04 | by ( ) www.cnbc.com time to read: +2 min

Wheat futures hit a one-week high on renewed concerns over dry weather in Russia, the world's biggest wheat supplier. In Argentina, corn stunt disease spread by leaf-cutter insects and adverse weather prompted the Buenos Aires grains exchange to slash its estimate for Argentina's 2023/24 corn harvest by 3 millions metric tons to 46.5 tons. In wheat, Russia's IKAR agricultural consultancy cut its forecast for the country's crop to 91 million metric tons from 93 million tons and its wheat exports to 50.5 million metric tons from 52 million tons. Wheat futures jumped as weather forecasts showed the region getting virtually no rain in the coming two weeks. Managed money funds held a net short position in CBOT wheat futures at the beginning of 2024 because of a strong dollar and slow U.S. demand, Zuzolo said.

Persons: Jim Niewold, Susan Stroud, Mike Zuzolo, Nature, Zuzolo Organizations: Chicago Board of Trade, Global, Analytics Locations: Loda , Illinois, Brazil, Russia, Brazil's Rio Grande do Sul, Argentina, Buenos Aires, South America

☆ High inflation could be here to stay as commodity prices spike again after a 2-year decline, World Bank says
▼ + stars: | 2024-04-25 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

High inflation will stay for longer as commodity prices rallied again after falling for two years, World Bank Group says. The bank expects global inflation to jump by a solid percentage point by 2024 due to the flip-flop oil prices driven by geopolitical risks. But this sluggish decline will buoy commodity prices around 38% higher than pre-COVID averages, offering little relief for inflation-weary economies. The World Bank warned that a significant disruption could propel oil prices beyond $100 per barrel, hiking global inflation by almost a full percentage point in 2024. That fear of lower growth and high inflation was on display in the US on Thursday, as first-quarter GDP came in much lower than expected even as consumer prices remained high in the quarter.

Persons: —, wanes, Indermit Gill, Ayhan Kose Organizations: World Bank, Service, World Bank Group, Bank Locations: Israel, Iran, Ukraine, Russia

☆ I've never been more enthusiastic on the outlook for copper, says Freeport-McMoRan CEO
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI've never been more enthusiastic on the outlook for copper, says Freeport-McMoRan CEORichard Adkerson, Freeport-McMoRan CEO, joins 'Closing Bell Overtime' to talk the global commodity supply chain, metal commodity demand, markets in China and more.

Persons: Richard Adkerson Organizations: McMoRan Locations: Freeport, China

☆ Offshore wind projects have been dogged by inflation and culture wars. Now they’re making a comeback
▼ + stars: | 2024-04-18 | by ( Ella Nilsen | ) edition.cnn.com time to read: +6 min

CNN —After a disastrous year marked by high costs, accusations of environmental harm and project cancellations in 2023, there’s a sense the US offshore wind industry is on a rebound. But offshore wind is increasingly Trump-proof, according to a top White House climate official, wind CEOs and an industry analyst. “This year will be a significant year for offshore wind development,” BOEM director Elizabeth Klein told CNN in a statement. The US supply chain for offshore wind is still being built; therefore, projects are turning to European manufacturers to get blades, gearboxes, and other components. Now, he said, Northeast governors “just want to make sure their states have energy.”New York has been aggressively pursuing offshore wind projects, rebidding previously canceled projects and accepting those projects at higher prices.

Persons: ”, Sam Huntington, “, aren’t, Donald Trump –, Trump, Ali Zaidi, that’s, ” Zaidi, we’ve, Zaidi, “ We’re, ” Huntington, Elizabeth Klein, Matthew J, Lee, There’s, Clint Plummer, ” Plummer, Pedro Azagra Blázquez, ” Blázquez, rebidding, Plummer, they’re Organizations: CNN, P, White House, White, Biden, US Bureau of Ocean Energy Management, Vineyard, New, Boston Globe, Power Locations: Wisconsin, Trump, Europe, Gulf of Maine, Oregon, New Bedford, Massachusetts, Huntington, New York, Danish, Asia, Friendly, New England, York

☆ 'Iran is in for the long haul' with oil tanker hijacks, expert says, as U.S. considers more sanctions
▼ + stars: | 2024-04-16 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

Before this weekend's tanker seizure, the last vessel Iran hijacked was the St. Nikolas on January 1. A Planet Labs satellite image of the location of the MSC Aries and other tankers recently hijacked by Iran. Planet Labs PBCAs the U.S. considers more sanctions against Iran in response to its recent attack on Israel, Iran has been using the hijacked ships as a means of sanctions retaliation. Iran chose to do this as a way to compensate for sanctions," Madani said. In a note to clients, ClearView highlighted that the House of Representatives added several Iran sanctions bills to its calendar for consideration this week, under suspension rules, including new sanctions on Iranian oil exports to China.

Persons: Nikolas, Houthis, Samir Madani, Eyal Ofer's, Madani, Janet Yellen, Helima Croft, Andy Lipow, Brent, Lipow, Kevin Book, Book Organizations: Anadolu, Getty, MSC Aries, U.S . Naval Forces Central Command, Galaxy Leader, MSC, Planet Labs, U.S . Energy Information Agency, United Arab, JPMorgan, CNBC, Lipow Oil Associates, ClearView Energy Partners, US, UN Locations: Gulf of Oman, Hormuz, Anadolu, Iran, Israel, Gaza, U.S, Iranian, Khuran, China, Russia, Malaysia, United Arab Emirates, Oman, Strait, Tehran, East, North Africa, India, Saudi Arabia, Kuwait, Iraq, France, Germany

☆ Pullback is just a 'healthy consolidation,' use it to buy AI plays, says BlackRock's Kate Moore
▼ + stars: | 2024-04-16 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Recent weakness in the market shouldn't deter investors from finding pockets of opportunity, particularly in artificial intelligence-related companies, according to BlackRock's Kate Moore. The Dow Jones Industrial Average and S & P 500 fell for a second week last week. "I think healthy consolidation after an extremely strong return in the first quarter is completely fair, and doesn't change the fundamentals," Moore said in an interview. Moore sees an opportunity in two of BlackRock's highest-conviction themes: AI-adjacent software and semiconductor companies, and global commodity producers and miners, particularly those related to copper. She expects better breadth in terms of earnings growth this quarter, which should support long-term investor confidence in the equity market.

Persons: Kate Moore, Stocks, There's, Moore, it's Organizations: Dow Jones Industrial, Devices

But the calm could be short lived, as world leaders and markets focus on Israel’s response. Military clashes don’t always sink the markets, as was the case when Hamas attacked Israel in October and Israel retaliated. “We may be entering one of the most treacherous geopolitical eras since World War II,” Jamie Dimon, JPMorgan Chase’s C.E.O., warned last week. “Take the win,” President Biden reportedly told Israel’s embattled prime minister after the attack was rebuffed with American help. Iran has signaled that the attack was a one-and-done, but Israel’s war cabinet hasn’t indicated its next move.

Persons: Israel, ” Jamie Dimon, JPMorgan Chase’s, Benjamin Netanyahu, Biden, hasn’t, Helima Croft Organizations: JPMorgan, ”, RBC Capital Markets Locations: Israel, Ukraine, United States, Iran

☆ Surging oil prices may challenge the Federal Reserve's inflation fight
▼ + stars: | 2024-04-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

Mounting geopolitical tensions stemming from conflict in the Middle East and Eastern Europe have helped drive oil prices to five month highs, challenging the Federal Reserve's fight against inflation. U.S. crude oil gained 4.5% this week, touching $87 a barrel on Friday before settling at $86.91. Rising energy prices may affect the timing or magnitude of interest rate cuts, he said. The Federal Reserve is focused on bringing down core inflation, which excludes volatile energy and food prices. Escalating attacks are coming against a backdrop of an already tightening global crude market.

Persons: Brent, Bart Melek, Andy Lipow, Lipow, Bob Yawger, Yawger, Netanyahu, Manish Raj, White, Biden, John Kilduff, Kilduff, Melek, Saudi Arabia doesn't Organizations: Federal, American Automobile Association, West Texas, TD Securities, Lipow Oil Associates, Mizuho Americas, Valero, Philips, Marathon Petroleum, Velandera Energy Partners, Kyiv, JPMorgan, Financial Times, Again Capital, Bank of America, Saudi Locations: East, Eastern Europe, Iran, Israel, Ukraine, Damascus, Kyiv, Ukrainian, Russia, Saudi Arabia

☆ Energy stocks rise after crude oil prices touch five-month highs
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEnergy stocks rise after crude oil prices touch five-month highsFrancisco Blanch, BofA Securities head of global commodity and derivatives research, joins 'The Exchange' to discuss what's driving energy prices, geopolitical impacts on energy supply and demand, and more.

Persons: Francisco Blanch Organizations: Energy, BofA Securities

☆ Oil, copper and gold prices on the rise: BofA Securities' Francisco Blanch on commodity price trends
▼ + stars: | 2024-03-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOil, copper and gold prices on the rise: BofA Securities' Francisco Blanch on commodity price trendsFrancisco Blanch, BofA Securities head of global commodity and derivatives research, joins 'Squawk Box' to discuss the oil, copper and gold markets, why prices are reaching their highest levels in months, impact of interest rates, and more.

Persons: Francisco, Francisco Blanch Organizations: Email, BofA Securities

☆ Slowing oil demand will keep barrel prices between $60-80 into 2029, says BofA's Francisco Blanch
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSlowing oil demand will keep barrel prices between $60-80 into 2029, says BofA's Francisco BlanchFrancisco Blanch, BofA Securities head of global commodity and derivatives research, joins 'The Exchange' to discuss BofA's forecast for oil prices, the impacts these prices would have on oil-producing countries, and more.

Persons: BofA's Francisco Blanch Francisco Blanch Organizations: BofA Securities

☆ Rerouting of oil is starting to impact the market, analyst says
▼ + stars: | 2024-02-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRerouting of oil is starting to impact the market, analyst saysAndy Critchlow, head of news, EMEA, at S&P Global Commodity Insights, discusses the outlook for the oil market amid geopolitical tensions.

Persons: Andy Critchlow Organizations: P, Commodity

☆ Singapore's central bank leaves policy unchanged in first quarterly meeting of 2024
▼ + stars: | 2024-01-29 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +4 min

Photographer: Lionel Ng/Bloomberg via Getty Images Lionel Ng | Bloomberg | Getty ImagesSingapore's central bank left its policy unchanged on Monday in its first quarterly monetary policy decision of 2024, as expected. The central bank strengthens or weakens its currency against those of its main trading partners, thus effectively setting the S$NEER. The central bank estimates core inflation to average between 2.5% and 3.5% in 2024, unchanged from its October forecast. Economists will monitor for clues on when Singapore's central bank will begin to loosen monetary policy. Singapore's central bank ended its policy tightening cycle in April after five consecutive decisions to tighten.

Persons: Lionel Ng, Goldman Sachs, Yun Liu, CNBC's, Liu Organizations: Bloomberg, Getty, Monetary Authority, Singapore, MAS, U.S . Federal Reserve Locations: Singapore, Central, ASEAN

☆ Biden faces demands from Republicans in Congress to strike Iran after U.S. troop deaths
▼ + stars: | 2024-01-29 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

Kevin Dietsch | Getty ImagesCongressional lawmakers are demanding President Joe Biden strike Iran after three U.S. troops were killed Sunday night in Jordan in a drone strike claimed by the Islamic Resistance of Iraq, an Iranian-backed militia group. Iran has not commented on the attack, while Jordan's government denied it took place on its soil. "I am calling on the Biden Administration to strike targets of significance inside Iran, not only as reprisal for the killing of our forces, but as deterrence against future aggression," Republican Sen. Lindsey Graham said in a statement. Elmurod Usubaliev | Anadolu | Getty ImagesThe attack marks another regional escalation in a war that the Biden administration has tried to contain. Meanwhile, Lebanese Shia militia group Hezbollah and Israel are exchanging fire along the Israeli-Lebanese border, while Iran earlier this month struck targets in Iraq, Syria and Pakistan.

Persons: Lindsey Graham, Kevin Dietsch, Joe Biden, Republican Sen, Roger Wicker, Biden, Elmurod, Helima Croft Organizations: Sen, U.S, Capitol, Getty, Islamic, Hamas, Biden Administration, Republican, Senate Armed Services Committee, Anadolu, Lebanese Hezbollah, RBC Capital Markets Locations: Washington , DC, Iran, Jordan, Iraq, Iranian, U.S, Israel, Ankara, Turkiye, Yemeni, Gaza, Israel's, Yemen, Lebanese, Syria, Pakistan, Iraqi, United States

☆ CNBC Daily Open: What recession? The U.S. economy grew at rapid pace
▼ + stars: | 2024-01-26 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Tesla shares plunge 12%Shares of electric vehicle maker Tesla plunged 12%, their biggest drop in over a year. Commodity markets in 'super squeeze' spotSupply disruptions and lack of investment are putting global commodity markets in a "super squeeze," according to HSBC. Some investors have been wary since Beijing has been struggling with a property debt crisis that has triggered financial risks across the broader economy.

Persons: Joe Biden, Biden, Tesla Organizations: CNBC, U.S, Dow Jones, Nasdaq, HSBC, Pro Locations: Emmaus, Emmaus , Pennsylvania, Asia, Pacific, Tesla, China, Beijing

☆ Commodity markets are in a 'super squeeze' — and higher prices could be here to stay
▼ + stars: | 2024-01-26 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +6 min

A commodity "super squeeze" is denoted by higher prices driven by supply constraints more than a robust growth in demand, he explained. "If it's a supply constraint that's driving high commodity prices, it's a very different story for global growth," he told CNBC via Zoom. Higher prices as a result of a super squeeze are "not as positive." The super squeeze could be deeper, or more prolonged if geopolitical, climate change or energy transition related supply disruptions are larger than expected. He highlighted that extreme weather events and geopolitics have also impacted the agricultural and energy commodity baskets.

Persons: Li Xin, Paul Bloxham, Bloxham, Brian Luke S, Dow, HSBC's Bloxham, Ian Waldie, Brian Luke, Matty Zhao Organizations: Technology, Getty, Visual China, HSBC, CNBC, Paul Bloxham HSBC, Energy, Commission, Commodities, Bloomberg, Dow Jones, of America Securities Locations: SUIXI, CHINA, Anhui, Suixi County, Huaibei City, Anhui Province, China, Israel, Gaza, Ukraine, Red, Australia, Asia, Pacific

☆ Surging U.S. oil production may set a record in 2024, shielding consumers from Mideast war and pressuring OPEC
▼ + stars: | 2024-01-21 | by ( Spencer Kimball | ) www.cnbc.com time to read: +7 min

Supply is forecast to grow by 1.5 million barrels per day to a new high of 103.5 million barrels per day, according to the IEA. Demand will grow by 1.2 million barrels daily, down from 2.3 million in 2023, with the post-pandemic recovery over and major economies set to slow. WTI and Brent closed out 2023 down more than 10% and OPEC+ production cuts have so far failed to lift prices. Goldman Sachs, for example, says oil prices could double if there is a prolonged disruption to shipments through the Strait of Hormuz. 'Golden era' Stronger U.S. oil production in 2023 surprised even oil industry CEOs such as Chevron's Wirth and Occidental's Vicki Hollub, they told CNBC in recent interviews.

Persons: Michael Wirth, Wirth, CNBC's Brian Sullivan, Goldman Sachs, Walt Chancellor, Daniel Yergin, Brent, Adi Imsirovic, Imsirovic, Yergin, Bob Yawger, Yawger, Matt Smith, Smith, Chevron's Wirth, Occidental's Vicki Hollub, I'm, Macquarie, Chancellor, Hollub, — Organizations: P, Energy Information Agency, Chevron, P Global, CNBC, Economic, West Texas, Center for Strategic, International Studies, OPEC, Bank of America, Oil, International Energy Agency, IEA, Brent, Mizuho, Gulf, Americas, Western Hemisphere Locations: East, U.S, Macquarie, Davos, Switzerland, Canada, United States, United Kingdom, OPEC, Brazil, Guyana, Americas, Europe, Red, Kpler, Iran, Hormuz

☆ China's economic growth is set to slow in 2024. Here's what Wall Street is predicting
▼ + stars: | 2024-01-17 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

China was due Wednesday to release GDP figures for 2023, and previously announced an official target of around 5% growth for the year. Despite significant growth in sectors such as tourism and electric cars, China's economy last year did not rebound from the pandemic as quickly as many banks had initially expected. watch nowThe International Monetary Fund in November also cited China's policy announcements as a reason for its decision to raise the 2023 growth forecast to 5.4%, from 5% previously. However, the IMF said it still expected China's growth to slow in 2024 to 4.6% "amid continuing weakness in the property market and subdued external demand." In the long term, analysts generally expect China's economy to slow further from a high base.

Persons: Pan Jianyong, Goldman Sachs, Morgan Stanley, Li Qiang, Haibin Zhu, Li Organizations: Co, Getty, Visual China, BEIJING —, Economic, Tuesday, UBS, Citi, JPMorgan, CNBC, China, China Economic, Monetary Fund Locations: MEISHAN, CHINA, Sichuan, Meishan, Sichuan Province, China, Davos, Beijing, decelerating

☆ Oil prices rise as US-led strikes in Yemen raise fears of wider conflict
▼ + stars: | 2024-01-12 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —US-led airstrikes on Houthi targets in Yemen rattled energy markets on Friday, sending oil prices sharply higher. Oil prices rose sharply after US-led strikes on multiple Houthi targets in Yemen in response to repeated attacks on commercial shipping in the Red Sea. Another concern is that oil facilities in Saudi Arabia could get hit by a retaliatory strike from the Houthis. In 2019, roughly 5% of world oil supply was briefly knocked offline in a large-scale drone attack on Saudi oil facilities. Despite Friday’s gains, oil prices remain lower than where they were before the October 7 attacks by Hamas against Israel due to concerns about oversupply.

Persons: Brent, “, ”, Robert Yawger, ” Yawger, John Kirby, CNN’s Becky Anderson, ” Kirby, ” Matt Smith, ” Helima Croft, Croft, ” Croft Organizations: New, New York CNN, Mizuho Securities, White House National Security Council, RBC Capital Markets, CIA Locations: New York, Yemen, East, Red, Iran, Saudi Arabia, Saudi, Gulf of Oman, Hormuz

☆ Red Sea crisis could jeopardize inflation fight as shipping costs spike globally
▼ + stars: | 2024-01-11 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

In this article HLAG-DEMAERSK.B-DK Follow your favorite stocks CREATE FREE ACCOUNTA ship transits the Suez Canal towards the Red Sea on January 10, 2024 in Ismailia, Egypt. Sayed Hassan | Getty ImagesU.S. shipping costs are spiking as attacks in the Red Sea disrupt global trade, raising fears that inflation might pick up again if the disruption persists. But the Red Sea crisis is now having a significant impact further afield with shipping costs between Asia and the U.S also spiking. Shipping rates from North Asia to the U.S. East Coast have jumped 137% to $5,100 for a 40-foot container from early October, according to S&P Global. JPMorgan told clients on Tuesday that the fight against inflation could stall in the coming months if shipping costs push the price of goods higher.

Persons: Sayed Hassan, John Kirby, Kirby, Biden, Chris Rogers, Mark Hopkins, we're, Hopkins, It's, Balika Sonthalia, Sonthalia Organizations: Getty, P Global Market Intelligence, P, U.S ., U.S . East Coast, U.S . West Coast, JPMorgan, Federal Reserve, . National Security, White, Moody's, CNBC, Kearney, The New, The New York Federal, HSBC Locations: Suez, Ismailia, Egypt, South Africa, Asia, Europe, North Asia, Israel, U.S, U.S . East, U.S . West, The New York, Panama

☆ Don't count on the Fed slashing rates given the inflation 'rollercoaster' risk, warns BlackRock
▼ + stars: | 2024-01-09 | by ( Anil Varma | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewInvestors positioning for sharp interest-rate cuts by the Federal Reserve this year may be disappointed, according to BlackRock. Increased geopolitical risks will also fuel price pressures in the coming years, according to BlackRock, reducing room for the Fed to ease monetary policy. "We think the Fed may not be able to deliver the rate cuts markets expect, even with growth moderating," analysts led by Jean Boivin wrote. "We think that means inflation is set to rollercoaster back up near 3% in 2025 as the goods price drag fades.

Persons: —, Jean Boivin Organizations: Service, Federal Reserve, Business, Investors, UBS, Fed, NatWest Locations: BlackRock

A picture taken during an organised tour by Yemen's Houthi rebels on November 22, 2023 showing the Galaxy Leader cargo ship approaching the port in the Red Sea off Yemen's province of Hodeida. Oil prices fell Tuesday as traders monitored rising tensions in the Red Sea amid a backdrop of record U.S. crude production and worries about demand in China. Crude prices had jumped more than 2% earlier in the trading session on escalating tensions in the Red Sea, a crucial global trade chokepoint. And Iran on Monday deployed a destroyer to the Red Sea, according to the country's Tansim news agency. The move by Tehran comes after U.S. Navy helicopters destroyed three boats of Iran-backed Houthi rebels.

Persons: Yemen's Houthi, Brent, Helima Croft, Croft, Adi Imsirovic, Ayatollah Ali Khamenei, Neil Beveridge, Lloyd Organizations: Galaxy Leader, The West Texas Intermediate, RBC Capital Markets, CNBC, Center for Strategic, International Studies, Monday, U.S . Navy, Navy, U.S . Central Command, Energy, Prosperity Locations: Red, Yemen's, Hodeida, China, The, Iran, Tehran, Singapore, Hangzhou, Brent, Israel, Gaza, Suez, Africa, The U.S

☆ Despite Biden climate change pledges and conservative complaints about a war on energy, the US is on pace for record oil and gas production in 2023
▼ + stars: | 2023-11-30 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

US oil and gas production is having a record year. US oil production reached an all-time high of 13.2 million barrels a day last month and has remained that high since. US natural gas production is also set a record-high this year, and show no indications of slowing. The numbers poke a hole in arguments made by Republicans who claim Biden administration policies have thwarted US energy production. Still, Hare said: "It's clear that the Biden administration is not running a war against fossil fuels, or if it is, it's a very unsuccessful war."

Persons: Biden, Joe Biden, Donald Trump, Reed Olmstead, Bill Hare, Hare Organizations: Service, Republicans, Politico, Trump, P, Commodity, Analytics, Associated Press Locations: Biden's

Gas prices have fallen or remained steady since Sep. 19 — marking about a 70-day trajectory of decline, Andrew Gross, spokesperson for motor club AAA, said Tuesday. As of Tuesday, the national average for gas prices stood just below $3.25, according to AAA. Experts point to a recent decline in oil prices and a seasonal dip in demand, as well as easing inflation. Political Cartoons View All 1270 ImagesWHY ARE GAS PRICES FALLING? While the downward trend in gas prices is expected to continue at least into the New Year, anything's possible.

Persons: — It's, Andrew Gross, Patrick De Haan, Gross, ” Gross, De Haan, There's, ” De Haan, — Organizations: AAA, West Texas Locations: U.S, Russia, Ukraine, Saudi Arabia, OPEC, Israel, Texas, Mississippi, Georgia, California, Hawaii, Washington

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