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25%  
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  • WTI (American Crude Oil) Drops Below $100 As Recession Fears Grow

    07/05/2022 11:08:12 AM PDT · by BeauBo · 29 replies
    OilPrice.com ^ | Jul 05, 2022 | Michael Kern
    Despite serious supply problems in the market, oil prices crashed on Tuesday morning (5 July 2022) due to renewed recession fears and the prospect of demand destruction.
  • The World’s Third-Largest Economy (Japan) Is Facing A Looming Energy Crisis

    07/05/2022 8:51:19 AM PDT · by BeauBo · 73 replies
    OilPrice.com ^ | Jul 05, 2022 | Charles Kennedy
    Japan is facing an energy crisis that can severely hurt the world's third-largest economy as it is forced to tackle a combination of a weak local currency, the fallout from the Ukraine war, and a heatwave. Japan already had a significant energy import bill as it depends on foreign oil and gas for 90 percent of its needs. But as the yen fell to the lowest in 20 years, Japan's bill became even bigger, with the price rise in crude oil, which has been some 40 percent in dollar terms since the start of 2022, reaching a whopping 70 percent...