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.

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 ...

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 ...

The Iran war has boosted oil and gas prices in recent weeks, raising concerns—and betting odds—among economists that a recession may be coming if oil costs remain elevated for an extended period. One ...

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 ...

Japan has started releasing oil from its reserve to stabilize supply amid the continuing tanker traffic freeze in the Strait of Hormuz. Initially, the government will release 15 days’ worth of oil ...

Secretary of Energy Chris Wright told NBC News that the Trump administration aims to bring gas prices back under $3 by summer. Photo: Daniel Heuer/Bloomberg News American oil executives delivered a ...

U.S. crude oil hit $100 per barrel Sunday, continuing its surge as the U.S.-Israeli war with Iran shows no signs of ending soon and despite attempts by the Trump administration and allied countries to ...

The Trump administration invoked the Defense Production Act to order an oil company to restart shuttered offshore operations in California, saying the move is necessary to address oil supply ...

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 ...

Global oil futures rose 2.7 percent, to more than $103 a barrel, on Friday, bringing their gains since the start of the war to 40 percent, amid heightened fears about the economic impact of a ...

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 ...