NEWYou can now listen to Fox News articles! President Donald Trump said Friday that the U.S. had carried out a bombing raid on Iran’s Kharg Island, a strategically important island in the Persian Gulf that serves as one of the country’s main oil export hubs. Located off Iran’s southern coast, Kharg Island is home to … Read more
The cost of taking a flight in the U.S. is starting to take off because of rising oil prices stemming from the Iran war, which has already sharply boosted the cost of driving a car. A recent analysis of U.S. airline ticket prices by Deutsche Bank analysts found that average domestic airfares for travelers booking flights later this … Read more
Treasury Secretary Scott Bessent signaled the U.S. Navy may begin to escort oil tankers in the Strait of Hormuz as the Iran war rages on. Mark Cancian, a senior adviser with the Center for Strategic and International Studies’ Defense and Security Department, joins CBS News with more. Source link
The United States has temporarily lifted sanctions on Russian oil, a boost to the Kremlin as Washington tries to contain energy prices sent soaring by the American-Israeli assault on Iran. President Vladimir Putin’s team welcomed the move to ease penalties that were imposed over Russia’s invasion of Ukraine, and pushed Friday for the U.S. to … Read more
The U.S. is temporarily greenlighting the purchase of Russian oil that’s already at sea, Treasury Secretary Scott Bessent said Thursday, in the Trump administration’s latest move to loosen the wartime sanctions that restrict Russia’s oil industry as the world grapples with high oil prices. The authorization will last one month, and applies to petroleum products … Read more
CBS News has learned that despite the U.S.-Israeli war, for the first nine days of March, Iran exported about 30% more oil than in the first nine days of February. Matt Gutman has more. Source link
Global energy prices remain elevated after Iran’s new Supreme Leader vowed to keep the Strait of Hormuz closed in a statement released Thursday. Laura Sanicola, senior writer for Barron’s, joins “The Daily Report” to discuss. Source link
This is the online version of From the Politics Desk, a daily newsletter that brings you the NBC News Politics team’s latest reporting and analysis from the White House, Capitol Hill and the campaign trail. In today’s edition, Jonathan Allen sorts through President Donald Trump’s messaging shift on oil prices. Plus, Jane C. Timm dives … Read more
The Trump administration announced Wednesday that it would release 172 million barrels of oil from the Strategic Petroleum Reserve. James Bikales, energy reporter for Politico, joins CBS News to discuss what impact that may have on gas prices. Source link
The price of oil jumped more than 8% on Thursday, as the International Energy Agency said the U.S.-Israel war on Iran was “creating the largest supply disruption in the history of the global oil market.” The price of international Brent crude oil rose to more than $100 per barrel, while U.S. crude oil rose above … Read more