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.

Treasury Secretary Scott Bessent told CNBC on Monday that the administration has no plans to intervene in financial markets and may not have the authority to do so even if it wanted. "That rumor's in ...

The Strait of Hormuz disruption has shattered the long-held belief in a global oil glut, revealing that the market was actually running with very thin spare capacity and fragile supply chains. Even a ...

Israel attacked Iran's largest gas processing facility located in Bushehr Province, according to reports in the Times of Israel and Jerusalem Post. Iran threatened to strike oil facilities in Saudi ...

Iran’s de-facto blockade of the Strait of Hormuz, which carries about one-third of global oil shipments, could significantly disrupt supply and push prices sharply higher. Analysts say oil could rise ...

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 ...

President Trump argued the U.S. benefits when oil prices go up on Thursday amid growing concerns over the impact of Washington’s operation in Iran on energy costs. “The United States is the largest ...

On Wednesday, the International Energy Agency (IEA) announced member nations would release a total of 400 million barrels from their strategic reserves of oil, as the war in Iran continues to cause ...

André O. Hudson receives funding from the National Science Foundation and the National Institutes of Health Tensions in the Middle East often trigger concerns about rising gasoline prices. But ...

Oil pumping operations are expected to begin imminently off the coast of California after President Trump issued an executive order Friday to resume oil drilling operations near Santa Barbara, The ...

1517 ET – U.S. crude oil futures settle down 5.3% to $93.50 a barrel. That’s as the world is getting signals that Iran is letting some tankers through the Strait of Hormuz. “India managed to move two ...

President Donald Trump said that America benefits when oil prices increase because the nation is the world's biggest oil producer, but added that he considers blocking Iran from obtaining nuclear ...