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
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
Trump urges U.S. allies to help get oil through Strait of Hormuz – CBS News Watch CBS News President Trump continued to press other nations to help open up the Strait of Hormuz as the war with Iran entered its third week. Ed O’Keefe has details. Source link
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
Since the start of the U.S. and Israel’s war with Iran just over two weeks ago, 500 tankers have been stuck by Iran in the Strait of Hormuz. Imtiaz Tyab reports. Source link
But Gov. Gavin Newsom opposes a Trump plan to restart an offshore drilling project. Source link
The stock market appears optimistic that the war in Iran will end soon and that oil prices will drop. Joy Wiltermuth, a reporter for MarketWatch, joins CBS News with more details. Source link
Sable Offshore resumed the transportation of oil through the Santa Ynez pipeline system off the California coast, following a Defense Production Act emergency directive from the Trump Administration. Source link
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8m ago Iranian drone strike sparks “significant fire” in UAE’s Fujairah oil zone Authorities in the United Arab Emirates said they were working Monday to contain a fire sparked by a drone strike on the Fujairah Oil Industries Zone. The regional government for Fujairah said there were no reported injuries, but it did not … Read more