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Exclusive: Gas prices are falling — Here's why it's happening and whether it can continue – TalkOfNews.com

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Gas prices are falling — Here's why it's happening and whether it can continue

#Gas #prices #falling #Here039s #it039s #happening #continue

A customer pumps gas at an Exxon gas station on July 29, 2022 in Houston, Texas.

Brandon Bell | Getty Images

Gas prices are below $4 for the first time since March, but the market remains precarious and experts said it’s too early to know if the move lower will hold.

The national average for a gallon of gas has fallen for the last 58 straight sessions, according to AAA, and is now $3.99 per gallon. The fall from June, when prices topped out above $5, has been fast.  

Here’s what could happen next.

Why are prices falling?

Prices at the pump have declined for a number of reasons.

In the commodity market there’s a common saying that “the cure for high prices is high prices.” And that’s proved true. In other words, high prices bring down demand, which brings down prices.

Some driving is necessary — to get to work, for example — but with prices at record levels, consumers might decide not to take a road trip, or to carpool with friends rather than driving solo. We’ve seen this show up in government consumption figures, which have shown a drop-off in demand.

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Some states have also suspended their gas taxes, which artificially pushes prices lower.

But the main reason for the fall is the decline in oil prices. Crude is the single largest factor influencing gas prices, accounting for more than 50% of what we pay at the pump.

Will prices stay low?

The move below $4 begs the question of whether further declines are on the horizon. Experts said the relief may be short-lived.

For one, while WTI is far below its March peak, it has jumped more than 5% over the last week. And gasoline futures, while also well below their recent highs, are up 10% over the last week.

“The streak of daily declines in the retail price of gasoline is about to end as crude oil and refined product futures have rallied off their recent lows,” said Andy Lipow, president of Lipow Oil Associates. 

The global energy market remains on edge, and there are a number of factors that could push prices higher in the coming months. 

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Refiners are running full out to keep pace with demand. A hurricane or other event that brings refinery outages could push up gas prices since there aren’t alternatives readily available as Europe also looks for petroleum products.

The U.S.’ historic release of barrels from the Strategic Petroleum Reserve will end this fall, taking some supply off the market. Additionally, the SPR will need to be refilled. A rebound in economic activity in China could also boost demand for petroleum products.

Additionally, the full slate of European sanctions against Russian fuel purchases has yet to go into effect. The country is a major energy producer, and so the EU scrambling to secure supplies from elsewhere could lift global prices.

This is all set against a backdrop of high demand. The International Energy Agency said Thursday that it now sees 2022 demand growth of 2.1 million barrels per day, which is 380,000 barrels per day higher than prior forecasts. 

Patrick De Haan, head of petroleum analysis at GasBuddy, said in a Thursday tweet that the drop in prices may stall over the next five to 10 days. But he added that the fall could be “short term.”

Energy drives inflation

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Exclusive: Rezonate raises $8.7M and launches its cloud identity protection platform out of stealth – TalkOfNews.com

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Rezonate raises $8.7M and launches its cloud identity protection platform out of stealth

#Rezonate #raises #87M #launches #cloud #identity #protection #platform #stealth

Rezonate, a Boston- and Tel Aviv-based startup that offers an agent-less cloud identity protection platform that aims to help DevOps teams minimize attackers’ opportunities to breach cloud identity and access, is coming out of stealth today and announcing an $8.7 million seed funding round, led by State of Mind Ventures and Flybridge, with participation from toDay Ventures, Merlin Ventures and a number of angel investors.

Founded in January 2022, Rezonate is part of a group of modern identity and access management (IAM) startups that aim to modernize the current state of affairs in this space, which is struggling to meet the demands of modern cloud infrastructure systems. This shift is creating new attack surfaces, especially as enterprises move to the cloud — and more dynamic infrastructure systems — at an ever-increasing rate. The number of security breaches stemming from issues with identity and access management is already on the rise. Indeed, Gartner expects that by 2023, “75% of security failures will result from inadequate management of identities, access, and privileges.”

Image Credits: Rezonate

Co-founder and CEO Roy Akerman was previously the head of the Israeli Cyberdefense Operations, while Rezonate co-founder and CTO Ori Amiga previously led R&D for this unit. Both received the Medal of Honor for their contributions to Israel’s National Security.

“The rapidly-changing cloudscape together with the proliferation of human and machine identities requires a different approach,” said Akerman. “Modern infrastructures require a precise and nimble way to outsmart attackers. One that prioritizes cloud identities and access at its core and is constantly adapting to current dynamics over yesterday’s snapshots and, for the first time, gives defenders and builders the means to act confidently.”

Image Credits: Rezonate

Rezonate promises to discover all of a company’s cloud and identity providers and the corresponding access privileges of its employees. The platform automatically detects security gaps and abnormal access attempts in real time. Rezonate promises that within minutes of deploying its solution, its platform can identify cloud identity and access risks and provide guidance for remediating them, or even automatically remove access and terminate sessions.

At the core of all of this is what Rezonate calls its ‘Identity Storyline,’ which aims to provide DevOps and security teams with a context-rich dashboard that helps them understand the security risk across a company’s cloud estate. With this, users get an easy-to-read dashboard that clearly lays out what kind of access every user has — and where there are potential issues.

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“The fact that in just ten months from our first line of code we already have active customers, solving key gaps daily, affirms the criticality of the cloud identity and access issue. In a cloud world where everything is changing all of the time, DevOps teams need a solution as dynamic and automated as the infrastructure they need to protect is,” said Amiga.

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Exclusive: Building a Prospecting Motion: How to Outreach Like a Pro – TalkOfNews.com

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Building a Prospecting Motion: How to Outreach Like a Pro

#Building #Prospecting #Motion #Outreach #Pro

The core responsibility of business development is to generate a pipeline of new business opportunities. For teams looking to close new customers, this work is indispensable.

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Exclusive: 5 things to know before the stock market opens Tuesday – TalkOfNews.com

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5 things to know before the stock market opens Tuesday

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A trader works on the floor of the New York Stock Exchange (NYSE), December 5, 2022.

Brendan McDermid | Reuters

Here are the most important news items that investors need to start their trading day:

1. Rough start

Stocks got off on the wrong foot this week with an ugly selloff Monday as investors weighed strong new economic data that stoked worries of sustained rate hikes from the Federal Reserve. The Dow dropped more than 480 points, while the S&P 500 declined 1.79% and the Nasdaq fell 1.93%. When it meets next week, the Fed’s policy-setting committee is expected to raise its benchmark rate by half a percentage point, which is less than the three-quarter-point hikes of the past few months but still sizable. Smith & Wesson and Stitch Fix earnings are set to hit after the bell Tuesday. Read live market updates here.

2. Salesforce slumps

Bret Taylor, co-chief executive officer of Salesforce.com Inc., right, and Marc Benioff, co-chief executive officer of Salesforce.com Inc., wear rabbit ears during a keynote at the 2022 Dreamforce conference in San Francisco, California, on Tuesday, Sept. 20, 2022.

Marlena Sloss | Bloomberg | Getty Images

3. Most Ford dealers sign up for EV plan

4. Biden touts Arizona chip investment

U.S. President Joe Biden speaks prior to signing railroad legislation into law, providing a resoluton to avert a nationwide rail shutdown, during a signing ceremony in the Roosevelt Room at the White House in Washington, U.S., December 2, 2022. 

Kevin Lamarque | Reuters

5. Russia ratchets up missile attacks

A building burns after shelling in Bakhmut, Donetsk region, on December 4, 2022, amid Russia’s invasion of Ukraine.

Yevhen Titov | Afp | Getty Images

And one more thing …

Actress Kirstie Alley

Noam Galai | Wireimage | Getty Images

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