Gas Demand Declines as Recession Fears Weigh Down Oil Market Expectations
October 20, 2022
Washington, D.C. – Fears of a global economic recession led to a major drop in the price of crude, down $7.00, which helped to minimize pump price increases last week.
Meanwhile, domestic gasoline demand decreased as fewer drivers fueled up in the first half of October. According to the Energy Information Administration (EIA), gas demand decreased nationally from 9.47 million b/d to 8.28 million b/d, and total domestic gasoline stocks increased by 2 million bbl to 209.5 million bbl.
Investor Fears Spark U.S., World Market Selloffs
September 23, 2011
Clarksville, TN – A steady drip of weak economic performance figures from around the globe combined with a grim assessment of near-term U.S. economic prospects pushed investor confidence over the edge Thursday. Some Asian and European markets lost as much as 5% of their value. U.S. markets dropped similarly during the day, although losses diminished somewhat as trading drew to a close.
For the record, the Dow Jones Industrial Average fell 391.01 points or 3.51% to finish the day at 10,733.80, while the broader S&P 500 dropped 37.2 points or 3.19%, to close at 1,129.56. The Nasdaq declined 82.52 points or 3.52% and closed at 2,455.67. This followed significant losses in all the indices in the previous trading session. It was the fourth consecutive day of domestic market losses. [Read more]
