Germany’s race to stockpile gas ahead of the winter is taking place in the Bavarian Alps. The former Bierwang natural gas field in Unterreit is one of Germany’s largest underground. It can hold more than 800 million cubic metres of gas — enough to power Munich for 8 months. Germany races to wean itself from … Read more
Oil prices fall ahead of the U.S. Federal Reserve meeting. The central bank is expected to raise rates by at least 75 basis points. OPEC sees demand growth slowing next year, as oil prices help drive up inflation and act as a drag on the global economy. Oil prices dropped on Wednesday on stresses over fuel … Read more
U.S. consumer inflation accelerated in May as oil prices hit a record high. The cost of food soared, leading to the largest annual increase in four decades. A gallon of regular gasoline costs an average of $4.99 nationwide on Friday, according to AAA. U.S. President Joe Biden on Friday charged the U.S. oil industry, and … Read more
