NEWYou can now listen to Fox News articles! U.S. forces destroyed 16 Iranian mine-laying vessels near the Strait of Hormuz Tuesday, U.S. Central Command said, in what officials described as a move to prevent Tehran, Iran, from disrupting one of the world’s most critical maritime chokepoints. The strikes come as oil traffic through the strait … Read more
NEWYou can now listen to Fox News articles! FIRST ON FOX: A group of House Republicans is urging the Trump administration to choke off Russia’s profits from one of its largest energy companies as global oil prices spike. It comes as the U.S. and Israel’s conflict with Iran, one of Russia’s closest allies on the … Read more
NEWYou can now listen to Fox News articles! FIRST ON FOX: A top Senate Republican wants answers on why the Biden administration drained the nation’s oil stockpile but did little to replenish it. Sen. Tom Cotton, R-Ark., charged that decisions under President Joe Biden to tap the Strategic Petroleum Reserve (SPR) could have a ripple … Read more
With oil exports through the Strait of Hormuz halted, the International Energy Agency is meeting with G7 countries about whether they should tap their strategic petroleum reserves. CBS News reporter Kati Weis is following the debate. Source link
President Trump is offering political risk insurance to any tankers operating near Iran as the Iran war continues. Jatin Dua, director of the Oceans Lab at the University of Michigan, joins “The Daily Report” to discuss. Source link
Oil prices swung sharply Tuesday as conflicting reports about shipping in the Strait of Hormuz drove oil prices down for much of the morning, then higher in the afternoon. U.S. crude oil initially plunged more than 16%, slipping below $77 per barrel at one point. But the move faded, and WTI climbed to trading around … Read more
U.S. motorists are likely to face higher gas prices for several weeks even if crude oil remains stable, according to GasBuddy petroleum analyst Patrick De Haan. Global crude prices swung wildly on Monday, soaring to nearly $120 a barrel earlier in the day before dropping after President Trump told CBS News that the U.S. war with … Read more
Trump says he “knew oil prices would go up” but it’s been less than he anticipated – CBS News Watch CBS News President Trump said he “knew oil prices would go up,” but it’s been less than he anticipated after oil prices hit more than $100 per barrel on Monday. CBS News’ Kelly O’Grady has … Read more
Trading steadied early Tuesday and crude prices eased after wild swings this week with investors trying to figure out how long the war with Iran will continue. Futures for the Dow Jones Industrial Average rose 0.2% before the opening bell, while S&P 500 futures inched up 0.1%. Futures for the Nasdaq were up 0.2%. On … Read more
NEWYou can now listen to Fox News articles! One week into the war with Iran, U.S. officials say American and Israeli forces are moving toward “complete control” of Iranian airspace — clearing the way for deeper strikes, a broader target list and a conflict that appears to be expanding rather than winding down. In briefings … Read more