oil

How ‘Little Sparta’ UAE shocked the Gulf by going its own way on oil

by

DOHA, Qatar — Among senior U.S. officials, the wealthy Gulf nation of the United Arab Emirates is known by an affectionate nickname: Little Sparta. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content. The moniker, often attributed to former U.S. Defense Secretary James Mattis, reflects the American admiration for … Read more

Iran turns to Putin as US talks collapse, Hormuz standoff threatens global oil flow

by

NEWYou can now listen to Fox News articles! Iran’s foreign minister met with Russian President Vladimir Putin Monday as U.S.–Iran negotiations appeared to collapse, raising the risk of further escalation in the Strait of Hormuz — a critical global oil choke point. Abbas Araghchi arrived in Moscow for talks with Putin as diplomatic efforts to … Read more

Live Updates: Oil prices rise as U.S. and Iran appear locked in a costly stalemate

by

The Secretary-General of the Iranian-backed group Hezbollah in Lebanon, Sheikh Naim Qassem, said in a statement Monday that the group’s leadership “categorically reject direct negotiations” that the U.S. has been brokering between Israel and Lebanon’s government.  “Those in the position of authority must know that their actions will not benefit Lebanon nor themselves. What the … Read more

Asian shares are mixed and oil prices little changed as investors watch for US-Iran talks

by

TOKYO — Shares were mixed in Asia on Wednesday as markets waited to see if the United States and Iran may resume talks to end their war. The price of Brent crude edged 1 cent higher to $98.51 a barrel. U.S. benchmark crude fell 0.4% to $89.29 a barrel. Lower oil prices help bring down … Read more

3,500 gallons of crude corn oil spill into Mississippi River near Red Wing ADM facility

by

A barge spilled up to 3,500 gallons of crude corn oil into the Mississippi River at a Red Wing facility, and a multi-agency response was deployed to contain the material. City officials say the Red Wing Fire Department responded to the ADM riverfront facility just after noon on Monday after receiving a report of a … Read more

Oil prices jump and stocks are mixed as the US-Iran standoff keeps the Strait of Hormuz in limbo

by

Oil prices climbed more than 5% while world shares were mixed Monday as a standoff between Iran and the U.S. prevented tankers from using the Strait of Hormuz. The Persian Gulf waterway was closed again after Iran reversed a decision to reopen the strait and President Donald Trump said a U.S. Navy blockade of Iranian … Read more

Farmers facing harsh fuel prices as Iran war disrupts oil shipments

by

Energy Secretary Chris Wright said Sunday that gas prices pumped up by the war may not drop below $3 per gallon until next year. Nearly two months into the war, a gallon of regular averages $4.05 and diesel prices average $5.61 a gallon. Lana Zak spoke with farmers in Iowa about how they’re dealing with … Read more

Oil prices jump amid renewed tensions over the Strait of Hormuz

by

The price of oil jumped sharply and stock futures tumbled Sunday evening as traders digested renewed tensions between the U.S. and Iran over the critical Strait of Hormuz. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content. U.S. crude oil jumped more than 7%, to about $90 per barrel, … Read more