IE 11 is not supported. For an optimal experience visit our site on another browser. Goats named Cosmo and Comet help kids learn how to read 00:46 Now Playing Why gas prices have risen despite record U.S. oil production 01:48 UP NEXT Chris Wright addresses concerns over surging energy prices 00:56 Energy secretary: Strait of … Read more
HONG KONG — The fallout from the U.S.-Israeli war with Iran and the effective closure of the Strait of Hormuz is being felt sharply in Asia, with authorities from New Delhi to Manila implementing emergency measures to shield consumers from mounting shortages and surging oil prices. On Friday, people in Nepal lined up at gas-filling … Read more
War in Iran squeezing U.S. oil supply, driving up gas prices – CBS News Watch CBS News The economic risks of the war in Iran are getting real for Americans at home. Stock markets ended the week down again as the conflict dragged on. This as U.S. crude oil costs are pumped up. Andres Gutierrez … Read more
U.S. Energy Secretary Chris Wright directed a Texas-based oil and gas company Friday to restore operations in waters off Southern California that were damaged by a 2015 oil spill, invoking the Defense Production Act. Restoring Sable Offshore Corp.’s Santa Ynez unit and pipeline off Santa Barbara aims to address supply disruption risks, according to a … Read more
U.S. strikes key Iranian oil hub – CBS News Watch CBS News President Trump said Friday night on social media that the U.S. struck a key Iranian oil hub on Kharg Island as tensions over the global oil supply ramp up amid Iran’s closure of the Strait of Hormuz. Source link
With oil markets paralyzed by the war between the U.S. and Iran, the Trump administration is weighing a military operation to escort ships through a vital maritime chokepoint — a massive undertaking that experts say could already be in the preparatory stages. Since the U.S. and Israel’s war with Iran began two weeks ago, more … Read more
President Donald Trump said U.S. forces on Friday “obliterated” targets on Iran’s Kharg Island, which is home to the primary terminal that handles the country’s oil exports. The speaker of the Iranian Parliament had warned that such strikes would provoke a new level of retaliation. Meanwhile, an American official said 2,500 more Marines and an … Read more
DUBAI, United Arab Emirates — President Donald Trump said the U.S. destroyed military sites on an island vital to Iran’s oil network and warned that its oil infrastructure could be next if Iran continues to interfere with the passage of ships through the Strait of Hormuz. Trump said U.S. forces on Friday “obliterated” targets on … Read more
The oil supply shock from the Iran war is directly impacting what Americans pay to fill up their cars, with gasoline prices up an average of roughly 60 cents since hostilities erupted on February 28. But just how much does the cost of oil factor into how much drivers pay to fuel up? “The price of … Read more
On Nov. 29, 1973, CBS News aired a special report titled “Making It Through This Winter,” spotlighting the ways Americans were making do amid the oil crisis. Watch the program in full. Source link