Business

The price of oil skyrocketed on Sunday as Democrat President Joe Biden’s administration is considering an embargo on Russian oil after Russia invaded Ukraine late last month.

Averages of over $5 a gallon.

The price of gasoline has reached record highs in California. The state become in American history to charge averages of over $5 a gallon for the essential fuel with Los Angeles and San Francisco eclipsing that mark earlier this week.

Tesla CEO Elon Musk issued a tweet on Friday declaring that oil and gas output should be ramped up, even though he acknowledged that such a move would have a negative impact on Tesla, which sells electric vehicles.

Apple investors bucked the company’s recommendations and approved a “civil rights audit” while rejecting a proposal calling for a report on Chinese forced labor.

Florida Governor Ron DeSantis announces shipping company shifting operations from backlogged California port to JAXPORT.

President Joe Biden and his administration said Americans should reduce their consumption of oil and gas in order to keep prices down and ultimately punish Russian President Vladimir Putin.

The Fed's rate increase would be the first since 2018

Oil prices soared and investors shifted more money into ultra-safe U.S. government bonds as Russia stepped up its war on Ukraine. The price of oil surged back above $100 a barrel after Russia, a major energy producer, faced further isolation and economic damage because of its invasion of Ukraine.

Toyota is halting production at all 14 of its factories in Japan after a key supplier was hit by a suspected cyberattack.