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Journal Article
Oil prices are up; whither the Texas boom?
Texas tends to report higher employment and output when oil prices sharply increase. But uncertainty regarding the duration of elevated prices could mute such impacts from the price shock following the closure of the Strait of Hormuz.
Journal Article
Overflowing U.S. shale gas increasingly streams to Mexico and onto global markets
Huge volumes of imported shale gas from the United States have provided the ample supply for Mexico’s growing energy needs, keeping power prices down for industries and households.
Refinery outages pumping up fuel prices more than cost of crude oil
Even after the Iran conflict ends and the flow of crude oil through the Strait of Hormuz normalizes, U.S. fuel prices will likely remain unusually elevated relative to crude prices, owing to diminished refining operations. As a result, headline inflation measures could remain above where oil price trends would normally indicate for as long as a significant portion of global refining capacity stays offline.