Today’s Business and Stock Market News: Live Updates – The New York Times

The price of oil has fallen since late October partly in anticipation that countries would take action to try to tame energy costs.

Demand for oil fell precipitously in the early months of the pandemic, so oil-producing nations cut output.

The move to tap into the U.S.

Mr. Bronze estimated that India would contribute up to five million barrels, with Japan and South Korea adding another four million to five million barrels each.

stockpile, stored in underground caverns in Texas and Louisiana, was established after the 1973-74 oil embargo by Arab members of the Organization of the Petroleum Exporting Countries, and has only been tapped in this manner in emergencies like the buildup to the Persian Gulf war in 1991 and the aftermath of Hurricane Katrina in 2005, when much of the Gulf of Mexico oil infrastructure was damaged.

Biden administration officials said the move announced on Tuesday would not be an emergency release.

officials said on Tuesday that the administration had worked for weeks to rally other oil-producing countries to agree to tap into their stockpiles to ensure a parallel release, which was a preference of Mr. Biden’s.

At its last meeting, on Nov.

Most experts believe a release would lower prices modestly, but only for a short time because oil prices are set globally and world consumption averages roughly 100 million barrels a day.

The most recent coordinated release of oil reserves came in June 2011, when the United States and 27 other nations released 60 million barrels of reserves to replace lost production from Libya that was halted by political turmoil in the North African country.

Millions of American drivers have acutely felt the recent surge in gas prices, which last month hit their highest level since 2014.

Just 32 percent of Americans plan to drive for Thanksgiving, down from 35 percent last year, at the height of the pandemic, and 65 percent in 2019, according to a survey from the fuel savings platform GasBuddy.

Most locations, including 24-hour locations, will have regular hours on Thanksgiving and Friday.

Clearview AI’s app was in the hands of law enforcement agencies for years before its accuracy was tested by an impartial third party.

In results announced on Monday, Clearview, which is based in New York, placed among the top 10 out of nearly 100 facial recognition vendors in a federal test intended to reveal which tools are best at finding the right face while looking through photos of millions of people.

Clearview made an impressive debut on the charts for investigative, or one-to-many, searches, but the top performers were SenseTime, a Chinese company, and Cubox, from South Korea.

Accuracy aside, questions remain about the legality of Clearview’s tool.

In just under two hours of testimony, which is expected to continue on Tuesday, Ms. Holmes pushed back against accusations that she had lied about Theranos’s work with drug companies.

It was her second day of testimony in a trial that has gripped Silicon Valley and become a referendum on start-up culture and just how far entrepreneurs will take their hubristic claims of changing the world.

The Women’s Tennis Association, which has threatened to withdraw its tournaments from China, repeated a call to investigate Ms. Peng’s allegations.

Pointedly, this week the Chinese government said it would punish companies that it deemed supporters of Taiwan’s independence.

Experts are split on the reputational risk for sponsors.

Others downplayed the risk: “It doesn’t matter where the games are; there’s controversy that something is not right,” said Rick Burton, the chief marketing officer for the U.S.

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