As reported by AP, Biden is expected to propose today to impose a windfall profits tax on oil companies. In response to the reports, companies in this sector have seen sizable declines. A speech by President Biden is scheduled at 8:30 pm GMT today to address the US fuel situation and oil companies.
Source: xStation 5
Oil down nearly 5% following the announcement that European diesel reserves will be released💡
🟡Gold takes a breath, because of oil, not NFP
Morning wrap: Strong Wall Street, weak Europe and Asia 🚩 NFP to test equity strength
Daily Summary: Wall Street Recovers as Micron Shines and Oil Prices Rise Again