Pennsylvania Rep. Dan Meuser and Fox News correspondent Liz Peake assess the Democrats’ resistance to US energy independence.
Oil prices moved to the last trading day of the week, continuing to rally.
This is the third volatile trading week as there has been little progress in peace talks between Russia and Ukraine.
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According to Reuters, this volatility raises concerns about a prolonged disruption in oil supplies.
PHOTO: Jacks at sunrise near Bakersfield, California. (REUTERS/Lucy Nicholson/File Photo/Reuters Photos)
U.S. West Texas Intermediate (WTI) futures rose $1.42, or 1.3%, to $104.40 a barrel, adding to an 8% jump on Thursday.
Brent crude futures rose $1.31, or 1.2%, to $107.95 a barrel after rising nearly 9% on Thursday, the biggest percentage gain since mid-2020.
Even with the rebound, both base prices should have declined by about 4% by the end of the week. Prices have fallen from a 14-year high reached nearly two weeks ago.
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According to Reuters, prices have been on a rollercoaster ride due to supply cuts due to sanctions on Russia, delays in nuclear talks with Iran, declining oil inventories and fears of a spike in COVID-19 cases in China.