Record tanker rates have made American crude too expensive for Asian refiners, who are turning to Middle Eastern and South American oil instead.Chartering a supertanker to haul two million barrels of U.S. crude from the Gulf…
Oil prices jumped Thursday as President Donald Trump weighs whether to restart large-scale strikes on Iran — with diesel already sitting above $6 a gallon.Brent crude, the global benchmark, climbed above $105 a barrel in…
Families who heat with oil face the steepest winter bill increase of any fuel, while federal heating aid stays flat.The Energy Information Administration (EIA) projected Tuesday that spending by households that heat mainly…
The global oil market is burning through its remaining supply cushion as wars in the Middle East and Ukraine drain inventories and leave energy prices increasingly vulnerable.Less than 6 billion barrels remain in commercial…
Supreme Court justices appeared divided Monday over whether a Colorado county can make oil companies pay for climate change damages under state law.With Justice Samuel Alito recused, Justice Amy Coney Barrett, a potential…
Four top Senate Democrats are challenging whether the Pentagon has the legal authority to take a 35 percent stake in a Venezuelan oil producer.Democratic Sens. Jeanne Shaheen of New Hampshire, Jack Reed of Rhode Island,…
Oil prices fell Friday after a report that European countries were weighing a large release of emergency fuel stocks under pressure from the Trump administration.France proposed that European Union (EU) countries release 50…
America’s emergency oil stockpile has fallen to 284.6 million barrels — and the Trump administration is counting on oil companies to repay what they borrowed.The Strategic Petroleum Reserve lost about 405,000 barrels in the…
Saudi Arabia has reportedly restarted its pipeline that bypasses the Strait of Hormuz after drone attacks forced it offline earlier in September.The kingdom could resume crude exports from its Red Sea port of Yanbu later…
European refiners are turning to American crude and diesel just as the United States holds its lowest level of emergency oil reserves in more than 40 years.Saudi Aramco told at least two European refiners on Friday that they…
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