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<ul class="summary-list"><li>The <a target="_blank" href="https://www.businessinsider.com/guides/deals/black-friday-deals">holiday shopping season</a> continues to start earlier in the year, thanks largely to Amazon.</li><li>Amazon's 48-hour deals event is underway, along with competing sales by the major retailers.</li></ul>Nevermind Black Friday, <a target="_blank" href="https://www.businessinsider.com/october-becoming-new-black-friday-amazon-walmart-target-sales-2024-9">Green October is in full swing</a>.The holiday shopping season is underway earlier than ever, thanks largely to Amazon moving up its <a target="_blank" class="" href="https://www.businessinsider.com/guides/deals/best-prime-day-deals-big-deal-days-2024-10">Prime Day</a> deals event.Faced with what would ordinarily be a shorter stretch of discounting (Thanksgiving and Christmas are closer together on the calendar than usual), the e-commerce juggernaut is pulling the start of the spending spree into early October.And in modern retail, many competitors look to follow what Amazon does to stay competitive.As Amazon has inched its 48-hour event earlier — from October 11 and 12 in 2022, to October 10 and 11 in 2023, and now to October 8 and 9 this year — competing promos by major retailers are also stepping up to win shoppers' dollars.Target kicked off the sequence early on Sunday with its Circle Week, while Walmart's Deals event gets underway online on Tuesday and in stores on Wednesday.The quasi-gravitational influence of all this promotional activity has even roped Costco into the mix with a Member Savings Event that started on Monday. Costco isn't typically a trend-chasing company, so it's notable that it's on the pre-holiday deals bandwagon during this particular week in October ahead of its formal start to holiday savings in November.Even if the traditional interval between Thanksgiving and Christmas was on the longer side, it would make sense for this further encroachment into pre-Halloween deals to occur.As inflation has eased off, the big lesson for retailers over the past year is that <a target="_blank" href="https://www.businessinsider.com/americans-budget-era-value-retail-walmart-target-tj-maxx-2024-8">customers are still willing to spend</a> — if the price is right. US shoppers also splurged for celebrations and special occasions.What better way for retailers to tap into those trends than to <a target="_blank" href="https://www.businessinsider.com/history-of-amazon-prime-day-impact-on-retail-industry2023-7">invent a holiday that celebrates deals</a> and kicks off a whole season of festivities?

Amazon's jump-start to the holiday shopping season has even roped in Costco this year

<keyword id="22362521" type="General" weightage="20" keywordseo="tourists-travellers" source="keywords">Tourists Travellers</keyword> from India have taken to <keyword id="20166206" type="General" weightage="20" keywordseo="international-travel" source="keywords">international travel</keyword> with newfound enthusiasm over the past two years, a new report by ride-hailing platform <keyword id="19895382" type="General" weightage="20" keywordseo="Uber" source="keywords" meta.keywordsubtype="org" meta.entityname="Uber" meta.hostid="261" meta.entityid="Uber">Uber</keyword> revealed on Wednesday. Indians travelled close to 1,000 cities across 68 countries significantly broadening their horizons, the report revealed. Their top destinations, however, remained consistent in the United States, the United Kingdom, and Canada. As per the report the <keyword id="22362520" type="General" weightage="20" keywordseo="summer-holiday-period" source="keywords">summer holiday period</keyword> when schools and colleges break, emerged as the prime time for these adventures for Indians. Interestingly, it said May 2023 outpaced June 2022 as the most popular month for <keyword id="21753645" type="General" weightage="20" keywordseo="overseas-travel" source="keywords">overseas travel</keyword>, indicating a shift in vacation timing. While abroad, Indians traveled longer distances, averaging 25 per cent more distance than their trips back home. Their Uber journeys spanned 21 different products, from premium electric vehicles like Comfort Electric to multimodal transit options that integrate trains and other mass transit modes, along with the ubiquitous UberX. The report underscores a significant uptick in the number of Indians using Uber internationally, with 2023 seeing Indian travellers ranking second only to Americans in terms of app usage abroad. During the ongoing summer travel season, Indians are expected to cross records set in the previous years, the report predicted. Moreover, many countries frequented by Indians support peer-to-peer ridesharing, allowing individuals to use their personal vehicles for Uber rides. This not only highlights the global appeal of the <keyword id="19913761" type="General" weightage="20" keywordseo="gig-economy" source="keywords">gig economy</keyword> but also showcases the country's adaptability and enthusiasm for diverse transportation options, the report noted. Commenting on the trend, Prabhjeet Singh, President, Uber India and <keyword id="19897710" type="General" weightage="20" keywordseo="south-asia" source="keywords">South Asia</keyword>, said, "Indians have been breaking all travel records over the past couple of years, and it's heartwarming to see how Uber continues to be their trusted last-mile partner in these travels. Be it the familiarity when landing at an airport in a new city or the safety when riding late at night, it's a huge mark of trust for us to see Indians book an Uber for their overseas travels."

Indians are travelling abroad like never before: Uber study

<ul class="summary-list"><li>The NFL will play two nationally televised games on Christmas this year.</li><li>Previously, the NFL avoided games on Tuesdays and Wednesdays, but the TV ratings were huge.</li></ul>The NFL is already deeply entwined with Thanksgiving, and now it wants to be a bigger part of Christmas.<a target="_blank" class="" href="https://affiliate.insider.com?disabled=1&amp;h=da87257629e2ed94e92e971117f6d935a62a1a03acbe85893ff56b7abb0618a4&amp;postID=66169abfd6bbe8bd161355b3&amp;postSlug=nfl-christmas-day-games-tradition-football-history-thanksgiving-tv-ratings-2024-4&amp;site=bi&amp;u=https%3A%2F%2Fwww.nfl.com%2Fnews%2Fnfl-to-play-two-games-on-christmas-a-wednesday-during-2024-season">The NFL announced</a> in March that it will play two nationally televised games on Christmas this year.While the league has played games on December 25 before, this year is unusual because the holiday falls on a Wednesday, a day the league typically avoids. And, after 2024, the NFL will have had the same number of games on Christmas in the last two years as it did between 1973 and 2003. If that trajectory continues, NFL games on Christmas could be an <a target="_blank" href="https://theathletic.com/5131860/2023/12/15/nfl-christmas-day-games-schedule-tradition/">annual tradition moving forward</a>, and the move could have a huge impact on how millions of Americans spend the holiday.Previously, the NFL only played on Christmas when it fell on one of the traditional days for NFL games — Sunday, Monday, Thursday, and Saturday. The NFL typically avoids games on Tuesdays and Wednesdays to avoid <a target="_blank" href="https://www.nbcsports.com/nfl/profootballtalk/rumor-mill/news/nfl-seems-to-be-moving-toward-tuesdays-and-wednesdays-and-maybe-fridays-and-saturdays">short-week scenarios</a> where teams don't have enough rest between games and might be at a higher risk of injury.But the TV ratings for past Christmas games were huge.<h2>The NFL put up massive TV numbers on Christmas</h2>The NFL's three Christmas games in 2023 <a target="_blank" href="https://www.usatoday.com/story/sports/2023/12/28/nfl-ratings-dominate-nba-on-christmas/72052196007/">averaged 29.2 million viewers</a>, according to CBS, which broadcasts the game. Those featured some of the most popular teams in the league — <a target="_blank" href="https://www.businessinsider.com/travis-kelce-taylor-swift-brother-christmas-gift-2023-12">and Taylor Swift</a> — including the San Francisco 49ers, New York Giants, Philadelphia Eagles, Las Vegas Raiders, and the eventual Super Bowl champions, Kansas City Chiefs.The 2023 Christmas games were <a target="_blank" href="https://www.sportico.com/business/media/2024/nfl-posts-93-of-top-100-tv-broadcasts-2023-1234761753/">three of the 19 most-watched programs on TV</a> last year, according to Nielsen. However, they still trailed the Turkey Day games as those averaged 33 million viewers and had two of the top seven TV programs of the year.Without knowing yet which teams will be playing in the games and their time slots, it is difficult to predict how big they will compare to last Christmas' and Thanksgiving games, said Jon Lewis, founder of the sports media news and information site Sports Media Watch."I do think viewership should remain elevated, but last year was a particularly good stroke of luck with the matchups," Lewis told Business Insider.<div type="image" title="Fans attend an NBA game in Denver on Christmas in 2023." height="1566" width="2500" msid="109246639" hostid="261" sizebytes="329442"></div>If the NFL is the big winner on Christmas, it will come at the expense of the NBA, which has long been the main annual sports draw on the holiday, with games featuring the best teams and many of the most popular players.However, the NBA games are not nearly as popular in US households on the holidays compared to the NFL, and the gap is widening. In 2023, the five NBA games played on Christmas averaged 2.9 million viewers, <a target="_blank" href="https://www.hollywoodreporter.com/tv/tv-news/nfl-new-years-eve-holiday-2023-24-tv-ratings-1235780558/">according to The Hollywood Reporter</a>. That was down 30% from 2022.<h2>The NFL won't stop at Christmas</h2>With the NFL breaking from the tradition of avoiding Tuesday and Wednesday games, it not only could mean games on Christmas every year, but it could also be the first step in leading to <a target="_blank" href="https://www.nbcsports.com/nfl/profootballtalk/rumor-mill/news/nfl-seems-to-be-moving-toward-tuesdays-and-wednesdays-and-maybe-fridays-and-saturdays">more mid-week games</a>.More mid-week national TV games were an idea the league seemed to start warming up to last year.In March 2023, NFL Commissioner Roger Goodell told the media that short-week games <a target="_blank" href="https://www.nbcsports.com/nfl/profootballtalk/rumor-mill/news/nfl-seems-to-be-moving-toward-tuesdays-and-wednesdays-and-maybe-fridays-and-saturdays">do not lead to more injuries</a>. He referenced the league's success in moving games to non-traditional days due to COVID-19 outbreaks on teams in 2020, including one game that was moved to a Wednesday."My instinct meshes with what Roger Goodell said when he invoked what happened during the pandemic," Mike Florio, <a target="_blank" href="https://www.nbcsports.com/nfl/profootballtalk/rumor-mill/news/nfl-seems-to-be-moving-toward-tuesdays-and-wednesdays-and-maybe-fridays-and-saturdays">NBC's NFL analyst,</a> said on "Pro Football Talk" following Goodell's comments in 2023. "In five to 10 years, they are going to be playing games on Tuesday night and Wednesday night every week."<div type="image" title="NFL fans on Christmas" height="1883" width="2500" msid="109246952" hostid="261" sizebytes="415546"></div>If the NFL schedules more games, it could lead to more income for the league.ESPN, which will air 21 national games in 2024, pays the league <a target="_blank" href="https://frontofficesports.com/espn-paying-for-record-amount-of-primetime-nfl-games-and-cashing-in/">$2.7 billion annually</a>. On the other hand, CBS aired <a target="_blank" href="https://affiliate.insider.com?disabled=1&amp;h=3d84f69b23dfb4fc52c195f14ddae8c591e37bf320b13e3c528ff899e67eedca&amp;postID=66169abfd6bbe8bd161355b3&amp;postSlug=nfl-christmas-day-games-tradition-football-history-thanksgiving-tv-ratings-2024-4&amp;site=bi&amp;u=https%3A%2F%2Fwww.paramountplus.com%2Fshows%2Fnfl-on-cbs%2Fnews%2F1010625%2Fnfl-on-cbs-schedule-how-to-watch-live-football-games%2F%3Fftag%3DPPM-07-10bhe4h%26placement%3D373910525%26creative%3D197380391%26geo%3Dct%253DUS%26st%3DCA%26city%3D15778%26dma%3D208%26zp%3D95746%26bw%3D4%26dclid%3DCL3w-PuEj4EDFeGgjggdTOgFCQ">107 games in 2023</a>, but only six were national TV games. That network pays the NFL <a target="_blank" href="https://www.sportingnews.com/us/nfl/news/nfl-tv-rights-deals-explained/z4rlycwog3jz1f6pqdqoegbxf">$2.1 billion a year</a>.In total, the <a target="_blank" href="https://www.nytimes.com/2021/03/18/sports/football/nfl-tv-contracts.html">NFL is paid about $10 billion a year for TV deals</a> with CBS, NBC, Fox, ESPN, and Amazon.While additional games could lead to more revenue, Lewis is skeptical that the Christmas games will draw bigger audiences than the Thanksgiving matches."I don't see Christmas overtaking Thanksgiving anytime soon, as the latter remains a comfortably bigger draw," Lewis said.

The NFL is starting a new Christmas tradition and it will change how millions of Americans spend the holiday

Bank holidays in June 2022

<ul><li>Institutional investments into alternate real estate assets grew four-fold as compared to 2019, says a report by Colliers. </li><li>Most of the inflows went into data centers, which accounted for 52% of the total alternate asset investments. </li><li><keyword id="68968" type="General" weightage="20" keywordseo="institutional-investors" source="Orion">Institutional investors</keyword> pumped in $4.9 billion into the real estate sector in 2022 and the office sector accounted for 41% of the inflows.</li></ul>Institutional investments in alternate real estate assets have been rising in the last few years but in 2022, it hit a new high of $867 million, says a report by Colliers. Data centers, life sciences, senior and student housing, holiday homes and more such constitute alternate assets in the real estate market. Even as inflows into these asset classes account for 18% of the total institutional investments in this vast sector, it grew by a massive 92% year-on-year. Moreover, as compared to 2019, it constituted a four-fold jump. “The growth of alternate sectors is led by investors looking to diversify their portfolio, given steady returns in some traditional asset classes,” the Colliers report said. Most of the inflows however went into data centers, which accounted for 52% of the total investments in alternate assets. This was followed by others such as life sciences, holiday homes, hospitals, etc. “However, the traction in investments was seen largely in data centers, with the other segments witnessing scattered deals,” the report added. Investors buy into the back-to-the office theme Across all asset classes, institutional investors pumped $4.9 billion into the real estate sector in 2022. Their favourite pick is office spaces which grew 50% year-on-year on account of large deals. In fact, the office sector with investments to the tune of $1.9 billion accounted for 41% of the total inflows in 2022. “As investors eye building a portfolio that they can bundle up as real estate investment trusts (REIT), they continue to see resilience in greenfield and ready-to-move assets. Majority of the deals in the office sector were driven by global investors, who are looking at income-yielding assets,” the report said, adding that the gross yields for Grade A completed office assets stands at 8-9%. However, institutional investments into the residential sector dropped 29% and this is the asset class with moderate gross yields to the tune of 2-2.5%, while investments in the industrial and warehousing sector declined 63%. Apart from alternate assets, retail and mixed-use assets exhibited massive growth. Interest rates, recession may have a short-term impact However, Colliers also believes that high interest rates coupled with high inflation, recessionary concerns and geopolitical tensions in some countries may dampen fund deployment on a short-term basis. “The investments in Indian real estate have been consistent for the past few years and hence have the potential to grow due to the structural change in demand for capital. During 2023, while we may see some postponement in deployment, there is ample dry powder in the market across core assets and alternate assets,” said Piyush Gupta, MD, Capital Markets and Investment Services, <keyword id="3166898" type="General" weightage="20" keywordseo="colliers-india" source="Orion">Colliers India</keyword>. Gupta says that there is a strong performance in the residential, retail, and hospitality sectors, where 2022 witnessed some large transactions. “These sectors are likely to see more traction in the next couple of years. Performance credit, special situations, portfolio acquisitions, asset reconstruction, and related structures have been growing and are likely to attract more investments,” he adds. Domestic investors turn active While most of the institutional investment into real estate tends to come from global investors, domestic investors also turned active in the last year. While global investors are attracted by the stable demand dynamics and tend to participate in entity-led deals, residential assets accounted for a chunk of the domestic investments. “The share of domestic investment inflows in 2022 has surpassed the share in 2021, accounting for 22% share in total inflows. Overall, though the total investment inflows are yet to outrun the pre-pandemic levels, investors remain vested in India’s real estate even in challenging times. Large global investors will continue to partner with domestic firms to set up investment platforms,” Vimal Nadar, senior director and head of research, Colliers India. SEE ALSO <a href="https://www.businessinsider.in/business/news/flatheads-shoes-founder-denies-shark-tank-offer-sells-his-entire-inventory-over-the-weekend/articleshow/96849132.cms">This IIT-IIM startup founder denies Shark Tank offer, sells his entire inventory over the weekend</a> <a href="https://www.businessinsider.in/business/corporates/news/why-mcdonalds-is-going-big-even-as-pizza-hut-and-other-rivals-slash-store-sizes/articleshow/96782982.cms">Delivery versus dine-in: Why McDonald's is going ‘big’ even as rivals slash store sizes</a>

Data centers, holiday homes and more attract $867 mn from institutional investors in 2022: Colliers

<ul class="summary-list"><li>Americans are preparing to spend money this holiday season at a rate exceeding pre-pandemic levels.</li><li>Prices for many popular gifts are expected to be lower than they were in 2022, thanks to record discounts. </li></ul>Despite some strong signals, most Americans still don't feel great <a target="_blank" href="https://www.businessinsider.com/economy-bidenomics-consumer-confidence-inflation-federal-reserve-interest-rates-unemployment-2023-9">about the economy</a>. And yet, there are also some promising signs that consumers are ready to splurge on deals this holiday season.A new <a target="_blank" href="https://www2.deloitte.com/us/en/insights/industry/retail-distribution/holiday-retail-sales-consumer-survey.html?id=us:2em:3na:4diUS176694:5awa:6di:111623:mkid%3DK0187363&amp;pkid=1011761&amp;elqTrackId=9daec666ee0b4e5ab8db8e86becfac5b&amp;elq=28fe8bad31e44f72907d9f531b58f5e8&amp;elqaid=107729&amp;elqat=1&amp;elqCampaignId=20859">Deloitte survey</a> shows that Americans are preparing to spend money this holiday season at a rate exceeding pre-pandemic levels. Meanwhile, there are signs that shoppers will get more bang for those extra bucks as many common holiday items are cheaper this year despite <a target="_blank" href="https://www.businessinsider.com/sticky-inflation-economy-recession-soft-landing-2023-10">sticky inflation</a>.In Deloitte's survey of 4,318 consumers in late August and early September, it found that 95% of Americans plan to participate in holiday shopping, up from 92% a year ago and 88% in 2021. That is also much closer to the pre-pandemic level of 97% in 2019.Deloitte also found that the people surveyed plan to spend $1,652 this holiday season, up 14% from last year and 10% from the pre-pandemic level of $1,496 in 2019.Survey respondents expect to spend $156 more this year compared to 2019. Nearly all of that is expected to come on the <a target="_blank" href="https://www.insiderintelligence.com/content/cyber-monday-projected-biggest-online-shopping-day-ever">two biggest shopping days</a> of the year, with spending around Black Friday and Cyber Monday expected to go up an additional $152.However, this is only half of the story. While consumers are prepared to spend more, they are also going to find better deals.<h2>Shoppers may be in for a pleasant surprise</h2>While Deloitte's survey found that 72% of respondents expect higher prices due to inflation this year, that may not be the case.According to a <a target="_blank" href="https://business.adobe.com/resources/sdk/adobe-2023-holiday-shopping-forecast.html">new report from Adobe</a>, which tracks online sales, retailers will have record-high discounts for many common categories of gifts, especially around Black Friday and Cyber Monday. Many categories are expected to see unprecedented average discounts of as much as 35% for categories such as toys, electronics, apparel, sporting goods, TVs, appliances, and furniture.<div type="image" title="TVs on sale during Black Friday in 2022." height="1667" width="2500" msid="105417635" hostid="261" sizebytes="435912"></div>The steeper discounts will mean that prices for many products will be cheaper this year compared to last year's holiday season, according to the <a target="_blank" href="https://www.wsj.com/economy/consumers/black-friday-shopping-charts-3ce30588">Wall Street Journal</a>. For example, smartphones will cost 12% less on average, and TVs will cost 9% less.However, one area where shoppers plan to pull back is food and beverage gifts. Based on total expected spending in the Deloitte survey, food and beverage ranked third in 2022, behind only gift cards and clothing, including accessories. This year, food and beverage is ranked fifth, falling behind toys and electronics.While pricing pressures may be easing in some areas, <a target="_blank" href="https://www.businessinsider.com/hunger-food-insecurity-child-tax-credit-inflation-rate-prices-snap-2023-11">food costs</a> have been especially hard on consumers, which might still be fresh in their minds.Despite lingering concerns about the economy, the Deloitte survey and Adobe report paint a picture of continued consumer resilience. As retailers look to give shoppers more incentives with record discounts, the opportunity for significant savings suggests we could be in for a bigger gift-receiving season than maybe we were expecting.

2 big signs that it will be a great holiday season for receiving gifts

<ul class="summary-list"><li>Goldman Sachs researchers are projecting oil prices to jump nearly 20% next year.</li><li>They cite continued high demand coupled with a tightening of supply in 2024.</li></ul>As the holiday season approaches, drivers are experiencing a welcome respite at gas stations, but those savings will likely go away in the new year.A new note from <a target="_blank" href="https://www.marketwatch.com/story/opec-will-set-a-80-floor-for-oil-next-year-say-goldman-strategists-c4ec5993">Goldman Sachs oil researchers</a> last week projects that oil prices will jump 18% from their current levels of $78 per barrel to an average of $92 per barrel in 2024, with the reasoning coming down to basic supply and demand. The researchers noted that demand has been strong and will remain so in 2024, but supply is expected to fall next year, especially in non-OPEC producing countries like the US.Last week, West Texas Intermediate crude, a benchmark for <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?type=wti">oil prices</a>, dipped to approximately $73 per barrel, a significant 20% drop from its late September peak of $94. This decline was mirrored in gas prices, with the national average hovering around $3.30 per gallon, <a target="_blank" href="https://gasprices.aaa.com/">according to AAA</a>, a notable decrease from the near $4 mark in early October.This reduction is expected to have a significant impact on Thanksgiving travel plans. According to a <a target="_blank" href="https://www.gasbuddy.com/go/what-gas-prices-thanksgiving-2023">survey this month by GasBuddy</a>, 41% of respondents are planning road trips for this year's holiday, an 8% increase from 2022. This surge in travel is boosted by the lowering of gas prices, which is expected to save Americans nearly $1.2 billion compared to last year, according to GasBuddy.<h2>Pain at the pump is coming</h2>While lower gas prices will help Americans during the busy — and often costly — holiday seasons, the pain at the pump will likely return as we move into the new year.While the Goldman Sachs researchers said concerns about decreasing demand moving forward have helped push prices lower, they expect demand to remain high in 2024 and possibly increase — <a target="_blank" href="https://www.opec.org/opec_web/en/press_room/7225.htm#:~:text=OPEC%20%3A%20World%20Oil%20Outlook%202023,116%20mb%2Fd%20in%202045">as projected by OPEC.</a>Meanwhile, the researchers project supply from OPEC countries to remain steady or even drop to stay within its target of $80 to $100 per barrel."We think OPEC will be responsive and keep supply lower for longer, and if necessary, cut more," Daan Struyven, head of oil research at Goldman Sachs, said during an interview with <a target="_blank" href="https://www.cnbc.com/squawk-box-us/">CNBC's "Squawk Box."</a><div type="image" title="A 3D-printed oil pump jack in front of the OPEC logo in this illustration picture SOURCE: REUTERS" height="2049" width="3253" msid="105388007" hostid="261" sizebytes="271458"></div>But more importantly, the researchers referred to the increased production seen in non-OPEC countries, including the <a target="_blank" href="https://markets.businessinsider.com/news/commodities/us-oil-production-record-high-brent-crude-price-wti-geopolitics-2023-10">record levels seen in the US</a> this year, as a "one-time boost" to supply due to overcoming post-pandemic supply constraints on things like oil rigs and workers."The big surprise of 2023 is stronger than expected non-OPEC supply growth, which we think will slow heading into 2024," Struyven said.Not helping matters is that <a target="_blank" href="https://markets.businessinsider.com/news/commodities/oil-prices-strategic-petroleum-reserve-joe-biden-inflation-fed-rates-2023-9?_gl=1*s41h44*_ga*NDI4MzQyNzc5LjE2NjYwMzAzOTY.*_ga_E21CV80ZCZ*MTY5NTMwNDAxNy4yMDIuMS4xNjk1MzA1Mzc3LjYwLjAuMA">the US Strategic Petroleum Reserve (SPR) is near a 40-year low</a>. The Biden administration unloaded 180 million barrels last year to help counter the price surge following the Russian invasion of Ukraine. With fewer barrels in reserve — near <a target="_blank" href="https://markets.businessinsider.com/news/commodities/oil-prices-strategic-petroleum-reserve-joe-biden-inflation-fed-rates-2023-9?_gl=1*s41h44*_ga*NDI4MzQyNzc5LjE2NjYwMzAzOTY.*_ga_E21CV80ZCZ*MTY5NTMwNDAxNy4yMDIuMS4xNjk1MzA1Mzc3LjYwLjAuMA">40-year lows</a> of about 350 million and about half the peak seen in the early 2010s — there's now less oil that the US can release into the economy and help increase supply and thus lower prices.<div type="image" title="Strategic Petroleum Reserve" height="647" width="970" msid="105388013" hostid="261" sizebytes="17904"></div>Now, <a target="_blank" href="https://markets.businessinsider.com/news/commodities/oil-prices-strategic-petroleum-reserve-joe-biden-inflation-fed-rates-2023-9?_gl=1*s41h44*_ga*NDI4MzQyNzc5LjE2NjYwMzAzOTY.*_ga_E21CV80ZCZ*MTY5NTMwNDAxNy4yMDIuMS4xNjk1MzA1Mzc3LjYwLjAuMA">the US wants to refill the Strategic Petroleum Reserve</a>, and if the US fills the reserve too quickly, it will have a big impact on lowering the available oil supply and <a target="_blank" href="https://www.foxnews.com/politics/how-strategic-petroleum-reserve-impacts-oil-gas-prices-special-report-spotlight-energy-matters">prices will likely go up even higher</a>.Interestingly, the disruption in supply has not been seen this year in the areas where many had expected — the Ukraine war and Israel's war with Hamas."One of the remarkable features this year is that the level of supply disruption has been remarkably low despite the fact that we are living in a highly uncertain geopolitical backdrop," Struyven said.Of course, not everybody is projecting a drop in supply. David Kelly, the chief global strategist for JP Morgan Asset Management, thinks supply from the US will actually increase next year."We're currently producing more crude oil than either Russia or Saudi Arabia," <a target="_blank" rel="noopener noreferrer" class="notion-link-token notion-focusable-token notion-enable-hover" href="https://www.cnn.com/2023/09/18/investing/premarket-stocks-trading/index.html">Kelly said on CNN's "Before the Bell"</a> in September. "This is going to be a record year for US liquid-fuel production, and next year is going to be even stronger. The global economy is growing slowly, and that's going to limit demand growth for fossil-fuel energy. And frankly, the green-energy transition is also limiting the growth in demand."What Americans pay at the pump is always at the forefront of their economic considerations, as it often determines how much money they have to spend elsewhere. And what the <a target="_blank" href="https://www.businessinsider.com/israel-gaza-war-oil-prices-inflation-recession-outlook-2023-10">US economy</a> doesn't need in the near future is Americans tightening their budgets after their <a target="_blank" rel="noopener noreferrer" class="notion-link-token notion-focusable-token notion-enable-hover" href="https://www.businessinsider.com/taylor-swift-eras-tour-helped-us-economy-2023-9">summer of fun</a> and the holiday spending season.

You Searched For "2022 holidays" and got 7 results

Amazon's jump-start to the holiday shopping season has even roped in Costco this year

Dominick Reuter

Indians are travelling abroad like never before: Uber study

ANI

The NFL is starting a new Christmas tradition and it will change how millions of Americans spend the holiday

Cork Gaines

Bank holidays in June 2022

BI India Bureau

Data centers, holiday homes and more attract $867 mn from institutional investors in 2022: Colliers

Katya Naidu

2 big signs that it will be a great holiday season for receiving gifts

Cork Gaines

The money you are saving at the pump this holiday season is probably only temporary

Cork Gaines

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