DIRS.INFO The most relevant business & tech news

☆ Good news: The worst could be over for gas prices this spring
▼ + stars: | 2024-04-30 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

US gas prices have stopped rising and even briefly dipped in recent days. Now, there is growing hope that gas prices are at or near a peak for the spring – or perhaps even for the year. ‘Could have been much worse’Of course, none of this is to say gas prices are cheap. A spike in gas prices would be the last thing President Joe Biden needs as he struggles to convince voters of his economic message before November. Why gas prices have cooledThere are multiple reasons why gas prices have stopped rising for the moment.

Persons: Patrick De Haan, “ I’m, ” De Haan, Tom Kloza, ”, Andy Lipow, “, De Haan, Joe Biden, Lipow, ” Lipow, Kloza Organizations: New, New York CNN, OPEC, AAA, CNN, “, Oil Price Information Service, Lipow Oil Associates, Drivers, Federal Reserve, Biden, US Strategic Petroleum Reserve, Coast, Colorado State University Locations: New York, Israel, Iran, Covid, California, De Haan ., Washington, Syria, West Texas, New Mexico, Saudi Arabia, Russia

☆ Energy price spike has more to go, predicts Oil Price Information Global Head
▼ + stars: | 2024-04-05 | 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 EmailEnergy price spike has more to go, predicts Oil Price Information Global HeadTom Kloza, Oil Price Information Service Global head of energy analysis, joins 'Fast Money' to talk rising oil prices and where the energy sector is headed from here.

Persons: Tom Kloza Organizations: Email, Oil Price Information Service

☆ Fact check: Trump won’t stop inflating inflation numbers
▼ + stars: | 2024-03-19 | by ( Daniel Dale | ) edition.cnn.com time to read: +5 min

And since last fall, Trump has also exaggerated about oil prices, gas prices, overall energy prices, bacon prices and general food and grocery prices. “Not surprisingly, the claims are not true,” Tom Kloza, global head of energy analysis for the Oil Price Information Service, told CNN. “Crude oil prices - the two benchmarks, WTI and Brent - hit their all-time highs in July 2008,” trading above $147 per barrel. Bacon pricesIn multiple speeches in the fall, Trump claimed that bacon cost Americans “five times” what it did before Biden became president. At the time Trump claimed in Ohio on Saturday that grocery prices had increased 30% under Biden, average grocery prices had increased about 21% under Biden.

Persons: Joe Biden –, Donald Trump, Trump, Biden, ” Trump, “, Trump’s, aren’t, Tom Kloza, Brent, ” Pavel Molchanov, Raymond James, Molchanov, Bacon, Biden can’t, PolitiFact Organizations: Washington CNN, Biden, CNBC, Washington Post, Oil Price Information Service, CNN, “, West Texas, Brent, GasBuddy, Trump, AAA, Energy, National Rifle Association, Republican Party Locations: Georgia, Virginia, North Carolina, Ukraine, Florida, “, “ U.S, Ohio

☆ Surging gas prices just hit a significant milestone
▼ + stars: | 2024-03-18 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

The recent jump in gas prices is already causing headaches on the inflation front. The last time gas prices were up on a year-over-year basis was late December 2023, according to AAA. Gas prices surge in MichiganAnd the concerns about Russia’s energy facilities is on top of the Houthi attacks on vessels in the Red Sea. “People have this visceral reaction to higher gas prices and they look to fix blame,” said Kloza. Unless there’s a major hurricane that strikes US Gulf Coast refineries, Kloza does not expect gas prices to hit $4 a gallon this year.

Persons: It’s, ”, Andy Lipow, Tom Kloza, Vladimir Putin, Kloza, “ It’s, we’ve, ” Kloza, Biden Organizations: New, New York CNN, White House, Federal Reserve, Gas, “, Lipow Oil Associates, AAA, Oil Price Information Service, CNN, White, Drivers Locations: New York, Russia, Ukraine, Michigan, Red, OPEC, Saudi Arabia, United States, Kloza

☆ Gas prices drop more than 60 days in a row
▼ + stars: | 2023-11-28 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

Gas prices have now fallen every day since the peak on September 18, AAA data shows. However, it’s normal for gas prices to cool off once the summer driving season ends because demand drops. Gas prices are now down 63 cents since hitting $3.88 in September. Yet oil prices — the main driver of retail pump prices — also have tumbled about 20% since briefly topping $95 a barrel on September 28. No matter the reason, gas prices are falling around the country.

Persons: That’s, ”, Tom Kloza, Kloza, OPIS, “ It’s, ” Kloza Organizations: New, New York CNN, AAA, Oil Price Information Service, Saudi Locations: New York, Israel, Hormuz, Iran, Ukraine, Saudi Arabia, China, OPEC, United States, Wisconsin , Ohio, South Carolina, Hawaii, Washington, California

☆ U.S. Gas Prices Plunging as Holiday Travelers Hit the Road
▼ + stars: | 2023-11-22 | by ( Clifford Krauss | More About Clifford Krauss | ) www.nytimes.com time to read: +1 min

U.S. gasoline prices are plunging just in time for Thanksgiving, and with the OPEC Plus oil cartel in apparent disarray, they could be heading lower for Christmas. But this week, they fell to levels not seen at this time of year since 2021, according to the AAA motor club, before the Russian invasion of Ukraine sent energy prices higher. “For consumers it’s a terrific tailwind,” said Tom Kloza, global head of energy analysis at Oil Price Information Service. The price for a gallon of gas was $3.64 at the same time last year. Prices have dropped below $3 a gallon in more than a dozen states and are falling with particular speed in Montana, Florida and Colorado.

Persons: ”, Tom Kloza Organizations: OPEC, AAA, Oil Price Information Service Locations: Ukraine, Montana , Florida, Colorado

☆ U.S. gas prices are falling and could hit the cheapest Thanksgiving day price since 2020
▼ + stars: | 2023-11-20 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Gas prices at a Chevron gas station in Newhall, CA. The average price of a gallon of regular gas in Los Angeles County rose 4.8 cents today to $5.915, a day after increasing 13.6 cents. The average price has risen 52 times in the last 57 days, increasing 94.3 cents, according to figures from the AAA and Oil Price Information Service. (Photo by Hans Gutknecht/MediaNews Group/Los Angeles Daily News via Getty Images) Hans Gutknecht | Medianews Group | Getty ImagesU.S. drivers can expect the cheapest gas prices on Thanksgiving day since 2020. The average national price for a gallon of gas could hit $3.25 by Thursday, which would be the cheapest price on Thanksgiving day since 2020 when the Covid-19 pandemic crushed demand and gas fell to $2.11 per gallon, according to GasBuddy.

Persons: Hans Gutknecht, Patrick de Haan, de Haan, De Haan Organizations: Chevron, AAA, Oil Price Information Service, MediaNews, Los Angeles Daily, Getty, Medianews, . Gas, GasBuddy, Organization of Petroleum, OPEC Locations: Newhall , CA, Los Angeles County, Southern, Alabama, Arkansas, Georgia , Iowa, Louisiana , Mississippi , Missouri , Oklahoma, South Carolina , Tennessee, Texas, OPEC

☆ 'Very strange mismatch' between crude and gas prices right now, says top oil analyst
▼ + stars: | 2023-10-27 | 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 Email'Very strange mismatch' between crude and gas prices right now, says top oil analystTom Kloza, Oil Price Information Service Global head of energy analysis, joins 'Fast Money' to talk the state of the oil and gas markets and why he believes the two have decoupled.

Persons: Tom Kloza Organizations: Oil Price Information Service

The drop in gasoline prices could benefit consumers and cool inflation. Before this week's drop, gasoline prices had posted a 7.4% jump in the third quarter, riding increases in crude oil futures after production cuts from Saudi Arabia, Russia and other OPEC+ members. U.S. wholesale gasoline prices are tumbling, with percentage drops per gallon on Wednesday between 6.9% and 10.8%. A flurry of weak economic data took more wind out of the market. Crude futures settled an eye-popping $5 a barrel lower on Wednesday, and fell another $1.66 on Thursday.

Persons: Bing Guan, JP Morgan, Tom Kloza, Kloza, Laura Sanicola, David Gregorio Our Organizations: Mobil, REUTERS, U.S . Energy, Administration, U.S ., Midwest, Oil Price Information Service, ADP, Oil, Thomson Locations: Beverly Boulevard, West Hollywood , California, U.S, Saudi Arabia, Russia, U.S . East Coast, East

☆ Gas prices could fall to $3.25 by Halloween as oil plunges
▼ + stars: | 2023-10-05 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —After spiking to alarming levels just last week, oil prices are suddenly in free-fall mode. US oil prices plunged by 5.6% to $84.22 a barrel on Wednesday, marking the biggest one-day decline in a year. Now, gas prices are already starting to retreat and experts predict sharper drops to come. That’s 11 cents below the 2023 peak set last month when gas prices experienced an unusual post-Labor Day jump. Boom to bustSo why did oil prices go from spiking to plunging?

Persons: Andy Lipow, Tom Kloza, Kloza, ” Kloza, “, Joe Brusuelas, ”, Matt Smith, ” Smith, There’s Organizations: New, New York CNN, AAA, Labor, Lipow Oil Associates, CNN, Oil Price Information Service, “, Federal Reserve, RSM, Fed, Saudi, Americas Locations: New York, Saudi Arabia, Kpler, Ukraine

☆ Oil surges above $94 a barrel for the first time in a year as stockpiles shrink
▼ + stars: | 2023-09-27 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —US oil prices topped $94 a barrel on Wednesday for the first time in over a year, threatening to push up prices at the pump and inflation across the economy. “There’s not a lot of oil there and that’s causing some nervousness,” said Tom Kloza, global head of energy analysis at Oil Price Information Service. The surge in oil prices could threaten the ongoing drop in gas prices. Kloza expressed cautious optimism that gas prices are still going lower, as typically happens after the summer ends. “We are probably getting in front of our skis a little bit,” Kloza said of energy prices.

Persons: Cushing, There’s, ”, Tom Kloza, Brent, Goldman Sachs, gunning, Robert Yawger, Yawger, you’re, ” Yawger, Kloza, “, ” Kloza Organizations: New, New York CNN, Oil Price Information Service, AAA, Bank of America, Mizuho Securities, Energy, Administration Locations: New York, Cushing , Oklahoma, Saudi Arabia, Russia

☆ News Corp beats profit estimates on cost cuts, touts AI boost to future sales
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: +2 min

Aug 10 (Reuters) - Rupert Murdoch's News Corp (NWSA.O) on Thursday beat quarterly profit estimates thanks to its cost-cutting efforts and talked up how generative artificial intelligence will support future results. For the first time, digital revenue accounted for over half of the company's total revenue for the full year, News Corp said. Higher digital subscription revenue in its fiscal fourth quarter helped News Corp absorb the impact of a 11.5% decline in advertising revenue. Revenue in its professional information business, which includes data and analytics platforms such as Oil Price Information Service, rose 10%. Excluding items, News Corp earned 14 cents per share, beating estimates of 8 cents, according to Refinitiv data.

Persons: Rupert, Robert Thomson, OpenAI, Thomson, Chavi Mehta, Dawn Chmielewski, Anil D'Silva, Stephen Coates Organizations: Rupert Murdoch's News Corp, News Corp, Sunday Times, Wall Street, Associated Press, Corp, Revenue, Price Information Service, New York Times Co, Fox Corp, Thomson Locations: Bengaluru, Dawn, Los Angeles

☆ Oil hedge funds place their bets on heat-fueled hurricane season
▼ + stars: | 2023-08-08 | by ( Nell Mackenzie | ) www.reuters.com time to read: +5 min

Gasoline prices usually rise ahead of the U.S. summer driving season. Money managers in the week to Aug. 1 boosted their net long holdings of NYMEX RBOB gasoline futures to the highest since late February 2022. HEDGE FUND-FUELED TURNAROUNDGasoline futures have risen around 14% this year, compared with a roughly 2% rise for U.S. crude futures . To guarantee a profit, they need the rise in gasoline prices to be sustained until hurricane activity is confirmed. But for gasoline to continue its rise against the price of crude oil, there needs to be a hurricane in the Gulf of Mexico, they said.

Persons: Liz Hampton, Tom Kloza, Vincent Elbhar, Eliot Geller, Brent Belote, Cayler, Belote, Arion, Nell Mackenzie, Laura Sanicola, Barbara Lewis Organizations: REUTERS, Liz Hampton LONDON, Gulf Coasts, Silicon Valley, Societe Generale, Reuters, Money, Futures Trading Commission, Reuters Graphics, El, Oil Price Information Service, CTA, Investment, Commodity, Fund, Aspect, CoreCommodity Management, CoreCommodity, Barclays, JP, Cayler, Thomson Locations: Loco Hills, New Mexico, U.S, Russia, Ukraine, Gulf of Mexico, United States, Gulf, Silicon, Gulf Coast, Mexico, Europe, Hurricanes, Washington

☆ How extreme heat is making your gas more expensive
▼ + stars: | 2023-08-04 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

Extreme heat is contributing to this unwelcome price spike. Saudi Arabia and Russia restrain supplyOf course, extreme heat is not the sole factor behind the gas price jump. Still, high heat is clearly piling pressure on gas prices. The good news is there are signs the impact of high heat on gas prices may be easing. Kloza said gas prices could just be pennies away from their peak of the summer.

Persons: ”, Tom Kloza, Andy Lipow, Kloza, ” Kloza Organizations: New, New York CNN, Oil Price Information Service, AAA, Lipow Oil Associates, Diesel, Retail Locations: New York, Saudi Arabia, Russia, Texas , Louisiana, Gulf

☆ The Outlook for Diesel: Supply Woes Aren’t Going Away Soon
▼ + stars: | 2023-01-28 | by ( Denton Cinquegrana | ) www.wsj.com time to read: +4 min

Throughout the U.S., diesel supplies remain tight; the East Coast in particular has been pressed to keep tanks fully stocked. Some of the supply issues go back to pre-Covid 19 events, including a June 2019 fire that took out a key East Coast refinery. Europe has been weaning itself off Russian crude oil and natural gas, but replacing Russian diesel may prove trickier. At that time, diesel prices at the retail level in the U.S. were in the $5.25-5.30 a gallon range. By the end of January, retail diesel prices should be approaching $4.75 a gallon.

☆ Gasoline is cheaper now than a year ago — and could fall below $3
▼ + stars: | 2022-12-08 | by ( Patti Domm | In | ) www.cnbc.com time to read: +4 min

Gasoline prices are now cheaper across the U.S. than they were a year ago, and the price per gallon could fall below $3 for most Americans by the end of the year. Unleaded gasoline was at a record $5.01 per gallon June 14 and stayed high through the summer and fall. Gas prices fell 15 cents per gallon in the past week and are down from $3.80 a gallon a month ago. Even with OPEC+ reaffirming a 2 million barrel a day production cut this past week, oil prices have still fallen. But for now, gasoline prices are in decline.

☆ Defying forecasts, crude oil prices have wiped out most of this year's gains and could head lower
▼ + stars: | 2022-11-28 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

Aimee Dilger | ReutersOil prices are defying expectations and are barely higher on the year, as the outlook for oil demand continues to deteriorate for now. Higher oil prices next year? Analysts expect oil prices to increase next year. Morse said market dynamics have changed and oil demand growth will be smaller as a percentage of gross domestic product. "We are also looking for the peak of oil demand in this decade.

☆ Energy expert Tom Kloza warns diesel prices could go haywire over the next 100 days
▼ + stars: | 2022-11-07 | by ( Melissa Lee | ) 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 expert Tom Kloza warns diesel prices could go haywire over the next 100 daysTom Kloza of the Oil Price Information Service offers a big warning about diesel fuel over the next few months. With CNBC's Melissa Lee and the Fast Money traders, Bonawyn Eison, Karen Finerman, Dan Nathan and Guy Adami.

☆ America’s emergency oil stockpile is at a 38-year low but it’s still got firepower left
▼ + stars: | 2022-10-18 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

More than any of his predecessors, President Joe Biden has aggressively leaned on this emergency oil stockpile to knock down the high pump prices that voters despise. That has left this emergency oil stockpile at its lowest point since June 1984 — a time when both the US economy and energy demand was significantly smaller than today. The SPR headlines are rattling an energy market already on edge over a potential recession. US oil prices dropped 3% to $82.82 on Tuesday, returning to levels last seen before rumors swirled regarding OPEC+’s controversial production cuts. They’ve done a tremendous job achieving their goal of trying to get energy prices lower,” said Michael Tran, managing director of global energy strategy at RBC Capital Markets.

☆ OPIS co-founder Tom Kloza warns the energy crisis will be around for years
▼ + stars: | 2022-10-17 | 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 EmailOPIS co-founder Tom Kloza warns the energy crisis will be around for yearsTom Kloza, Oil Price Information Service co-founder, joins 'The Exchange' to discuss the diesel fuel shortage.

Search resuls for: "Oil Price Information Service"

20 mentions found