Diesel prices are rising and the price of gas continues to slam Americans during the Iran war. Ed Hirs, an energy fellow at the University of Houston, joins CBS News with more. Source link
The Federal Reserve’s decision on interest rates Wednesday is all but a foregone conclusion. Traders overwhelmingly expect it to keep rates on hold, a scenario that’s likely to persist for the rest of the year. Instead, it’s how Chair Jerome Powell and policymakers decide to respond to the growing Middle East oil crisis that will … Read more
The band The Last Dinner Party is coming to the U.S. next week to tour its second album, “From the Pyre.” The members of the band spoke to Anthony Mason about how they met, their rapid rise to fame and the support they’ve had along the way. Source link
Motorists are paying sharply higher fuel prices since the outbreak of the Iran war, despite the U.S. being the world’s largest oil producer. Why? After all, as of 2023 (the latest data available), the U.S. churned out roughly 13 million barrels of crude a day, according to the Energy Information Administration (EIA). That compares with roughly 10 … Read more
President Trump ordered the release of 172 million barrels of oil from the United States’ Strategic Petroleum Reserve on Wednesday, after oil prices rocketed to their highest levels in years amid the U.S.’s war with Iran. The releases will start next week and take about 120 days, Energy Secretary Christopher Wright said Wednesday in a … Read more
Energy Secretary Chris Wright said Sunday that the “period of elevated energy prices” will be temporary, “but it will not be long,” as the Iran war continued into a second week. Oil and gas prices “shouldn’t go much higher than they are here because the world is very well supplied with oil,” Wright said on … Read more
President Trump spoke to the Qatari emir, who emphasized to the president the “need for diplomacy to de-escalate the situation.” The question now is whether the Trump administration can keep global energy moving while this war continues. Imtiaz Tyab reports from Doha. Source link