A customer refuels at a Shell gas station in Hercules, California, US, on Tuesday, May 23, 2023. David Paul Morris | Bloomberg | Getty Images President Joe Biden’s top economic advisor said Thursday the White House will “make sure gas prices remain affordable” when asked whether the administration would consider tapping the Strategic Petroleum Reserve. … Read more
File photo showing an oil tanker pass through the Suez Canal, Egypt. Peter Bischoff | Pb Archive | Getty Images Crude oil futures fell for a fourth day Thursday, as Israel has refrained from immediately striking back against Iran after the unprecedented air assault last weekend, easing fears that the Middle East is on the … Read more
A general view of the BP logo and petrol station forecourt sign on January 22, 2024 in Southend, United Kingdom. John Keeble | Getty Images News | Getty Images British oil major BP on Thursday trimmed its executive team down to 10 members and announced William Lin as the new head of the firm’s oil and low … Read more
Oil prices slipped on Friday on the possibility of a nearing Gaza ceasefire that could ease geopolitical concerns in the Middle East, while a stronger dollar and faltering U.S. gasoline demand also weighed on prices. Olga Rolenko | Moment | Getty Images U.S. crude oil fell for the third consecutive trading session on Wednesday, dipping … Read more
Iranian soldiers take part in an annual military drill in the coast of the Gulf of Oman and near the strategic Strait of Hormuz. Anadolu | Anadolu | Getty Images The containership MSC Aries seized by Iran over the weekend marked at least the sixth vessel hijacked by Iran and its proxies in response to … Read more
Motorists drive their vehicles past a billboard depicting named Iranian ballistic missiles in service, with text in Arabic reading “the honest [person’s] promise” and in Persian “Israel is weaker than a spider’s web”, in Valiasr Square in central Tehran on April 15, 2024. Iran on April 14 urged Israel not to retaliate militarily to an … Read more
Markets kept their cool on Monday amid a fast-moving and volatile geopolitical landscape in the Middle East — but the longer-term risk premium has likely risen, while oil prices remain on edge, analysts said. Iran launched more than 300 drones and missiles against military targets in Israel on Saturday, marking the first direct attack on the Jewish … Read more
A refinery from the north of the Persian Gulf in Iran. Saeid Arabzadeh | Afp | Getty Images Oil prices could soar to $100 per barrel and beyond, said market watchers, after Iran mounted an aerial attack against Israel reigniting fears of a regional war. Iran is home to vast oil resources and is the … Read more
An anti-missile system operates after Iran launched drones and missiles towards Israel, as seen from Ashkelon, Israel April 14, 2024. Amir Cohen | Reuters (View a special livestream of CNBC’s coverage of the conflict and market impact at 6 p.m. ET Sunday here.) Crude oil futures were set to open higher Sunday after Iran launched … Read more
President Joe Biden’s administration on Friday finalized a new rule to modernize the long-outdated federal oil and gas leasing program. The Interior Department rule significantly increases how much energy companies must pay to lease and drill on federal lands, and it gives federal land managers greater authority to keep fossil fuel development away from sensitive … Read more
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