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U.S. airlines were flying high less than two months ago on talk of a new golden age, as strong travel demand and tight industry-wide capacity raised the prospect of a multi-year profit boom. But President Donald Trump's broad tariffs and a crackdown on government spending have upended that optimism. Tourists and companies have reduced spending amid rising economic uncertainty, forcing carriers to cut their first-quarter profit forecasts.

U.S. oil producers are grappling with geological limits to production growth as the country's top oilfield ages and produces more water and gas and less oil - and may be nearing peak output. The Permian basin was the centerpiece of the shale revolution that began nearly two decades ago and spurred the U.S. to become the world's top oil producer, stealing market share from the Organization of the Petroleum Exporting Countries (OPEC) and other top producers. Slowing output growth and rising costs would make it difficult for oil producers to pump more and bring down oil prices to consumers, as envisioned by U.S. President Donald Trump in his "drill, baby, drill" mantra.

(Bloomberg) -- The US has filed a civil forfeiture complaint for $47 million in proceeds from the sale last year of around 1 million barrels of oil allegedly from Iran, which was stored in Croatia.Most Read from BloombergThey Built a Secret Apartment in a Mall. Now the Mall Is Dying.Why Did the Government Declare War on My Adorable Tiny Truck?How SUVs Are Making Traffic WorseTrump Slashed International Aid. Geneva Is Feeling the Impact.These US Bridges Face High Risk of Catastrophic Ship Strikes

NEW YORK (Reuters) -Oil prices edged higher on Thursday and hovered near one-month highs on concerns about global supply, but new U.S. tariffs and their expected effect on the world's economy limited gains. Brent crude futures rose 9 cents, or 0.1%, to $73.88 a barrel by 11 a.m. EDT (1500 GMT). On Wednesday, oil prices rose about 1% to their highest since February.

(Bloomberg) -- In public, the US oil and gas industry has been supportive of President Donald Trump. But in private, some industry executives are expressing a negative view, highlighting a growing tension between Trump’s energy agenda and the impact of his trade policies.Most Read from BloombergThey Built a Secret Apartment in a Mall. Now the Mall Is Dying.Why Did the Government Declare War on My Adorable Tiny Truck?How SUVs Are Making Traffic WorseTrump Slashed International Aid. Geneva Is Feel

(Bloomberg) -- Federal Reserve Bank of St. Louis President Alberto Musalem said it’s not clear any inflationary impact from tariffs will prove temporary, and he cautioned that secondary effects could prompt officials to hold interest rates steady for longer. Most Read from BloombergThey Built a Secret Apartment in a Mall. Now the Mall Is Dying.Why Did the Government Declare War on My Adorable Tiny Truck?How SUVs Are Making Traffic WorseTrump Slashed International Aid. Geneva Is Feeling the Impac

Shoppers of all economic backgrounds are relying on the bargain retailer while trying to save, CEO Michael Creedon said.