Escalating tensions in the Middle East between Israel and Iran and a major strike on US East and Gulf Coasts are causing concern about rising oil prices and potential inflation just before the US presidential election.
An escalation of tensions in the Middle East and a historic strike along the United States East and Gulf Coasts threaten to raise the price of oil and reignite inflationary pressures just weeks before the U.S. presidential election. More on that below, along with a look at what’s fuelling the future of convenience stores.
a hotly contested battle for CCM Hockey, buying the country’s oldest hockey equipment maker as part of a strategy to grow the game among women and first-generation immigrants to North America and Europe.How port strikes and Middle East tensions are having a ‘multiplier effect’shutting off the U.S. East and Gulf Coasts are presenting the administration of Joe Biden and Kamala Harris with twin problems that threaten the country’s economy just over a month before Americans go to the polls. Worries of escalating attacks between Israel and Iran turning into wider regional war drove oil prices to a level that could stay elevated for as long as uncertainty persists. And relief in prices for crude oil might not come any time soon from the U.S., where a massive work stoppage is blocking not only billions of dollars in imports ranging from vehicles to food but also the country’s exports of oil and liquefied natural gas. Analysts have warned the strike will cost the U.S. economy billions of dollars a day, cause months of supply chain stresses and raise the price of goods – all dynamics that would threaten to follow in Canada, which relies on the U.S. for about half of its imports. In both its handling of the dockworkers’ strike and the volatility overseas, the Biden-Harris administration could risk the chances of a Democratic win on Nov. 5 by moving too forcefully, said Aurel Braun, a professor of international relations and political science at the University of Toront
OILPRICE INFLATION US ELECTION MIDDLE EAST PORTSTRIKE
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