The turmoil over sanctions against Russia’s energy exports is driving upheaval in global tanker markets. Shipping companies have snapped up dozens of secondhand crude carriers and are paying record prices for ships that can navigate frozen seas around Russia’s Baltic ports. The frenzy is splitting the tanker industry into two groups: one that deals with Western oil companies; the other a “shadow fleet” that trades with Iran, Venezuela, and increasingly with Russia.
Travel demand has surged this year. But for many young people, it’s mom and dad who are footing the bills. Credit Karma says 41% of Gen Z travelers who are going home for the holidays will rely on their parents or family members to foot the bill. Increasingly parents are chipping in - and not just over the holidays. From paying for cell phone plans to covering health and auto insurance, half of parents with a child over 18 provide them with at least some financial support.
Futures are little changed after tumbled yesterday. The Dow Industrials dropped 482, the Nasdaq lost 221 and the S&P 500 was down
