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Crude retreats but fuel prices stay high

8/7/2026 • 12 min

Weakened refining capacity in Russia and the Gulf is a boon to US refiners. Plus, the Trump administration’s decision to revoke legal protections for migrants could hurt the US economy, and Google is shifting control of its AI effort from London back to Silicon Valley. Mentioned in this podcast: Refining crunch keeps fuel prices high as crude retreats Google shi… Play episode

How Ukrainian drone expertise is helping Colombian narcos
SpaceX outperforms in debut earnings
America’s puzzling yen intervention
Spain’s migrant crisis reopens deep EU rifts
JPMorgan walks into another football firestorm
Fed holds rates as inflation fears grow
The Big Tech earnings dilemma
Ares’ big play in private equity
Hike or hold: Investors split ahead of Fed decision
Oil hits $100 and drives global bond sell-off
US oil refineries race against dwindling supply
The US has $13bn in Venezuelan oil money. Where is it?
UK chancellor John Healey inherits tricky finances
Andy Burnham’s first day
The Bethlehem Project: American identity after 250 years
Andy Burnham ghosts the UK business community
Is China’s economic slowdown here to stay?
The EU’s push to deregulate banks
Dubai wants to bypass Strait of Hormuz
Citigroup’s ruthless remake
Rewiring sport: How technology is helping athletes break barriers
World Cup stirs up colonial past
The cost of a broken ceasefire
Marine Le Pen’s risky comeback
The Big Four’s problems Down Under
London’s push for AI sovereignty
Germany’s twin crises: football and the economy
UBS bets on the US
Why Indonesians are souring on Prabowo
US Supreme Court blocks firing of Fed governor
AI wakes up the sleepy US power sector
The Bethlehem Project: Steel’s legacy looms large
Jamie Dimon succession race narrows
European defence stocks face uncertainty
Venezuela faces world’s largest debt restructuring
What’s next for the UK after Starmer?
Starmer on brink of quitting as UK prime minister
A complicated World Cup for Iran’s diaspora
Federal Reserve gears up for change
Why Elizabeth Warren is worried about SpaceX
Extended version: Why Elizabeth Warren is worried about SpaceX
Investors celebrate US-Iran deal
US, Iran agree ceasefire deal as Trump heads to G7 summit
Political Fix: Makerfield or bust: Burnham goes for broke
World Cup ticket prices are a red card for fans
Can a correction fix Australia’s housing market?
SpaceX shoots for the moon with $1.78tn IPO
Israel’s war strategy strains relations with US
China’s President Xi visits North Korea to talk nuclear programme

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