On Friday morning, West Coast port officials told CNN about a startling sight: Not a single cargo vessel had left China with goods for the two major West Coast ports in the past 12 hours. That hasn’t happened since the pandemic.
Actually, real answer is that fears of that are already lowering oil prices. That and OPEC manipulating it again. It’s not so much the ships but the transit after; also less people buying things, typical recession stuff.
Lower prices on gas tends to be seen as a win, although ironically the US is the biggest oil supplier so it hurts the economy here too.
Actually, real answer is that fears of that are already lowering oil prices. That and OPEC manipulating it again. It’s not so much the ships but the transit after; also less people buying things, typical recession stuff.
Lower prices on gas tends to be seen as a win, although ironically the US is the biggest oil supplier so it hurts the economy here too.