Before the war in Iran, roughly 15 million barrels of Persian Gulf oil were shipped each day through the Strait of Hormuz. Within a few years, much of that oil could bypass the strait. As Iran’s chokehold on the strait drags on and oil prices surge — to over $100 per barrel for Brent Crude … Read more
The Department of Justice and more than a dozen states have reached a proposed settlement with three of the country’s leading egg producers to resolve claims that the companies colluded to manipulate egg prices. The agreement comes after an investigation by federal antitrust enforcers and state attorneys general alleged that Cal-Maine Food, Versova/Centrum and Hickman’s … Read more
Soaring energy prices due to the Iran war could provide a massive windfall for U.S. oil companies. Rystad Energy, a market research firm, estimates that shale oil producers in the U.S. could earn an additional $63 billion in sales as prices soar past $100 a barrel. If oil prices averaged $70 a barrel — their approximate level before … Read more