More oil and gas tankers are now being diverted away from the Red Sea, with some companies and producers avoiding the route. Among the latest, Qatar appears to be sending liquefied natural gas vessels to Europe via the longer route around Africa
An oil pump jack in Midland, Texas, US, on Thursday, April 7, 2022. Midland, Texas, is used to booms and busts. But even here, prices are shocking the local economy — and the Fed may not be able to help.