ANN ARBOR – Oil markets are reminding investors just how quickly geopolitics can reshape the global economy. After posting their biggest one-day jump since 2020 on fears that conflict in the Middle East could disrupt shipping through the Strait of Hormuz, crude prices have since retreated as hopes for a lasting truce and renewed diplomatic
ANN ARBOR — Michigan drivers may not feel it immediately, but the latest flare-up in Middle East fighting has once again put gasoline prices—and much of Michigan's economy—on an upward path. Oil prices jumped this week after renewed fighting between the United States and Iran reignited concerns that shipping through the Strait of Hormuz, one
ANN ARBOR — As millions of Americans prepare to hit the road for the Independence Day holiday, Michigan families are finding that filling the gas tank, paying the electric bill and covering other everyday expenses still costs significantly more than it did a year ago. A new report released Thursday by the Center for American
ANN ARBOR - Michigan consumers could be facing another round of economic pain as major oil companies and commodity traders warn that global petroleum inventories are falling to unusually low levels, raising concerns that crude oil prices could surge to $150 per barrel or higher if another major supply disruption occurs. For Michigan residents, the
WASHINGTON DC - New federal economic data released Thursday delivered a troubling combination for the U.S. economy — and potentially for Michigan as well. Key Economic Numbers Released Thursday Inflation rose to 3.8% in April, up from 3.3% in March Consumer spending growth slowed sharply to 0.2% First-quarter U.S. GDP was revised down to 1.6%
DETROIT - Michigan drivers already angry over rising gasoline prices may not have seen the worst yet. That blunt warning comes as global energy executives, oil traders, economists, and shipping companies increasingly focus on one narrow waterway half a world away: the Strait of Hormuz. The concern intensified after ExxonMobil CEO Darren Woods warned that
WASHINGTON DC - The political warning signs for Republicans are growing more complicated heading into the 2026 midterm elections. President Donald Trump’s approval ratings have weakened nationally amid concerns over inflation, energy prices, tariffs, and rising tensions with Iran. Yet at the same time, Trump continues demonstrating enormous influence inside Republican primaries — a dynamic
Part 2 of a series on how huge increases in gas prices are impacting Michigan's economy and politics. ANN ARBOR = As gasoline prices climb toward $5 per gallon across parts of Michigan, economists and political analysts are beginning to examine whether the growing global oil shock could eventually reshape the state’s 2026 midterm elections.
GRAND RAPIDS - West Michigan’s economy continued to expand in April, but rising oil prices, tariff uncertainty and growing fears about a broader national slowdown are beginning to cloud the outlook across the entire state of Michigan. That was the takeaway from the latest monthly industrial survey by Grand Valley State University economist Brian Long,
ANN ARBOR - Michigan’s economy could face mounting pressure later this summer as rising oil prices tied to the growing Middle East conflict begin spreading through the state’s three largest economic pillars — the auto industry, tourism and agriculture. Economists warn the full impact of the global energy shock may not hit consumers and businesses
