President Trump’s comments to reporters on Tuesday that he expects the U.S. to end its war with Iran in two or three weeks is buoying investors by easing global oil prices and boosting stocks. Yet such optimism is certain to fade quickly unless Iran agrees to reopen the Strait of Hormuz soon, according to economists, who warn that crude prices … Read more
The Trump administration on Tuesday exempted oil and gas drilling in the Gulf of Mexico from the Endangered Species Act after Defense Secretary Pete Hegseth said environmentalists’ lawsuits threatened to hobble domestic energy supplies as the U.S. wages war against Iran. Critics said the move by the government’s Endangered Species Committee could doom a rare … Read more
Key committee votes to exempt oil and gas activity in Gulf of Mexico from Endangered Species Act – CBS News Watch CBS News The Endangered Species Committee voted Tuesday to exempt oil and gas activity in the Gulf of Mexico from the Endangered Species Act protections. CBS News’ Shanelle Kaul has more. Source link
The Iran war is not only disrupting the global energy market but is also threatening the world’s supply of helium and aluminum, key materials used in products such as semiconductor chips, medical equipment and other everyday goods. Qatar, which accounts for roughly one-third of the world’s helium supply, stopped producing helium this month following Iranian strikes on … Read more
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Defense Secretary Pete Hegseth and Joint Chiefs of Staff Gen. Dan Caine are holding a news conference on the war with Iran on Tuesday as an Iranian drone hit a Kuwaiti oil tanker off Dubai and the average gas price in the U.S. hit $4 a gallon. “The Kuwaiti giant crude oil tanker was subjected to a … Read more
A U.S. government panel was due to convene Tuesday for the first time since 1992 to consider exempting oil and gas drilling in the Gulf of Mexico from the Endangered Species Act due to unspecified national security concerns, a move critics say could doom a rare whale species and harm other marine life. Nicknamed the … Read more
Stocks end mixed as crude oil prices rise and stay over $100 a barrel – CBS News Watch CBS News Wall Street had a shaky start to the week on Monday, as U.S. stocks ended mixed and crude oil prices stayed above $100 a barrel. Yahoo Finance senior reporter Brooke DiPalma joins to discuss. Source … Read more
Surging oil prices continue to ripple through the global economy due to the war with Iran. Now, some analysts are saying the worst could still be ahead as the conflict drags on. The concern is that beyond immediate knock-on effects from rising gasoline prices, the war’s disruption could come in waves — ones that will … Read more
Oil prices are skyrocketing as Iran war continues – CBS News Watch CBS News Oil prices are rising as President Trump contemplates a ground operation in Iran. The Wall Street Journal’s Spencer Jakab has more. Source link