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Oil surges after US announces plans to tap emergency reserves to tackle rising gas prices

7 days ago   |   By

Tetra Images - Dan Bannister/Getty Images
Oil prices jumped more than 2% Tuesday following plans by the US to tap emergency oil reserves to lower gas prices
West Texas Intermediate and Brent oil prices had initially pulled back following the US announcement.
President Joe Biden's move comes as American consumers are paying multi-year high gas prices.
US oil prices surged Tuesday following plans by the Biden administration to release oil from the country's emergency stockpile in an effort to combat the high gas prices that consumers are paying. West Texas Intermediate crude prices climbed...
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US stocks trade lower as bond yields rise after renomination of Powell as Fed chair

8 days ago   |   By

Stocks have risen sharply over the last year, helping the Dow Jones finally break the 36,000 barrier. Xinhua News Agency/Getty Images
US stocks traded mixed Tuesday as bond yields rose after the renomination of Jerome Powell as Fed Chair.
Equities were also looking to new economic data and retail and technology earnings later this week.
Bond yields continued to rise with the key 10-year Treasury note yield edging up to 1.648.
US stocks traded mixed as bond yields rose after President Joe Biden nominated Jerome Powell for a second term as chairman of the Federal Reserve on Monday. The...
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