Oil prices jump and stocks tumble following Israel’s attack on Iran
Oil prices jumped and stocks tumbled Friday following Israel’s attack on Iran, which raised fears of a wider conflict in the Middle East.
Crude oil prices saw their biggest increase since Russia’s invasion of Ukraine more than three years ago, pushing the U.S. benchmark close to $73 a barrel. If sustained, that could reverse the downward slide in gasoline prices, which has helped to keep inflation in check. The Labor Department said Wednesday that gas prices had fallen 12% in the last twelve months.
Stocks fell sharply Friday as investors weighed the potential fallout from the conflict. The Dow Jones Industrial Average fell close to 500 points, or 1.1% in the first two hours of trading.
Investors were rattled after Israel launched air strikes into Iran, targeting the country’s nuclear facilities, and Iran sent drones towards Israel to retaliate.
Ordinarily, nervous traders would seek shelter in U.S. government bonds, pushing bond prices up and yields down. That didn’t happen early Friday, however, perhaps signaling investors’ lingering worries over the high level of U.S. debt. This week, the Treasury Department reported that the federal deficit had topped $1.2 trillion, with four months still to go in the fiscal year.
How Alabama Power kept bills up and opposition out to become one of the most powerful utilities in the country
In one of the poorest states in America, the local utility earns massive profits producing dirty energy with almost no pushback from state regulators.
No more Elmo? APT could cut ties with PBS
The board that oversees Alabama Public Television is considering disaffiliating from PBS, ending a 55-year relationship.
Nonprofit erases millions in medical debt across Gulf South, says it’s ‘Band-Aid’ for real issue
Undue Medical Debt has paid off more than $299 million in medical debts in Alabama. Now, the nonprofit warns that the issue could soon get worse.
Roy Wood Jr. on his father, his son and his new book
Actor, comedian and writer Roy Wood Jr. is out with a new book -- "The Man of Many Fathers: Life Lessons Disguised as a Memoir." He writes about his experience growing up in Birmingham, losing his dad as a teenager and all the lessons he learned from various father figures throughout his career.
Auburn fires coach Hugh Freeze following 12th loss in his last 15 SEC games
The 56-year-old Freeze failed to fix Auburn’s offensive issues in three years on the Plains, scoring 24 or fewer points in 17 of his 22 league games. He also ended up on the wrong end of too many close matchups, including twice this season thanks partly to questionable calls.
In a ‘disheartening’ era, the nation’s former top mining regulator speaks out
Joe Pizarchik, who led the federal Office of Surface Mining Reclamation and Enforcement from 2009 to 2017, says Alabama’s move in the wake of a fatal 2024 home explosion increases risks to residents living atop “gassy” coal mines.
