oil

Oil prices could reach record highs. Here’s what it could mean for the U.S. economy.

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Intensifying violence in the Middle East could send oil prices careening above their all-time high, raising the risk of higher inflation and slower economic growth, experts said. “The biggest hit will be the consumer,” said Ryan Sweet, a chief global economist at Oxford Economics. “To kind of put it into context, every penny increase in gasoline … Read more

Oil prices surge after attacks on energy sites

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IE 11 is not supported. For an optimal experience visit our site on another browser. UP NEXT Second graders offer heartwarming marriage advice to their teacher  01:27 One dead after gondola crash at Swiss ski resort 01:16 U.S. college student goes missing in Spain 01:27 Potentially record-setting heat wave scorches western United States 01:46 Women … Read more

Oil prices surge after attacks on energy sites

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IE 11 is not supported. For an optimal experience visit our site on another browser. Now Playing Oil prices surge after attacks on energy sites 02:43 UP NEXT One dead after gondola crash at Swiss ski resort 01:16 U.S. college student goes missing in Spain 01:27 Potentially record-setting heat wave scorches western United States 01:46 … Read more

US eases Venezuela oil sanctions as Trump seeks to boost world oil supply during Iran war

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WASHINGTON — U.S. companies will be allowed to do business with Venezuela’s state-owned oil and gas company after the Treasury Department eased sanctions, with some limitations, on Wednesday as the Trump administration looks for ways to boost world oil supplies during the Iran war. The Treasury issued a broad authorization allowing Petróleos de Venezuela S.A, … Read more

The U.S. is the world’s leading oil producer. So why are gas prices soaring?

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Motorists are paying sharply higher fuel prices since the outbreak of the Iran war, despite the U.S. being the world’s largest oil producer. Why? After all, as of 2023 (the latest data available), the U.S. churned out roughly 13 million barrels of crude a day, according to the Energy Information Administration (EIA). That compares with roughly 10 … Read more

Oil, gas prices jump as Trump flirts with striking Iranian oil infrastructure

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NEWYou can now listen to Fox News articles! President Donald Trump’s suggestion that Iranian oil infrastructure could be a U.S. target sent oil and gasoline prices higher on Monday, as traders weighed the risk of a deeper confrontation that could further exacerbate global energy supplies. On Friday, Trump ordered strikes on military assets on Iran’s … Read more

U.S. oil soars past $100 a barrel, as Iran war shows no signs of ending soon

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U.S. crude oil hit $100 per barrel Sunday, continuing its surge as the U.S.-Israeli war with Iran shows no signs of ending soon and despite attempts by the Trump administration and allied countries to slow rising prices. As oil futures trading resumed trading at 6 p.m. ET, U.S. crude oil jumped more than 2%, to … Read more