In the meantime, the US economy is humming along — though there are signs it is sliding into a lower gear. The job market: The US jobs report for May showed Friday that 390,000 positions were added last month. Global oil prices rose more than 1% to about $117 per barrel on Thursday. “It’s basically a gesture … an important one.”Still, it’s unlikely to change the broader dynamics that have pushed up energy prices, exacerbating the worst cost-of-living crisis in decades. “This energy crisis is much bigger than the oil crises of the 1970s and 1980s.

Source: CNN June 03, 2022 15:15 UTC