Category: Oil (Petroleum) and Gasoline

China’s Edge in an Oil Shock: Electric Cars and Renewables

Beijing’s decades-long push to reduce its dependence on foreign oil with huge investments in clean energy sources like electric vehicles is now paying off.
U.S. Vows to Block Iran’s Attempt to Shut Down Strait of Hormuz

Defense Secretary Pete Hegseth said that the disruptions in the Strait of Hormuz were “something we are dealing with.” And about 2,500 Marines were headed to the Middle East to bolster the war effort.
Trump’s Move to Seize Oil Tankers Costs the U.S. Tens of Millions of Dollars

Although President Trump said seizing tankers would be a financial boon, the cost of maintaining just one aging ship has already reached $47 million.
How This Oil Supply Shock Compares to the Embargo of 1973

Governments have stockpiled oil, and cars are more efficient but the supply shock is global, and there’s no sense of when it’ll end.
The War in Iran Is Roiling the World, but Not the U.S. Stock Market

Investors say they are balancing the risks from oil disruptions against the many positives like strong corporate earnings and the likelihood that President Trump will end the war if it threatens markets.
The War in Iran Is Driving Costs Up. Here Are Some Ways to Save.

The widening war in the Mideast is making life more expensive. Experts shared some simple cost-cutting tips.
Kevin Warsh’s Dilemma as Fed Chair Nominee Amid Iran War

President Trump’s pick to lead the Federal Reserve could faces a tough road to confirmation if he seeks quick interest rate cuts. The war in Iran doesn’t help.
Surging Energy Costs Put German Industry ‘Really in Danger’

Four years after the Russian invasion of Ukraine sent energy prices soaring, the war in Iran is posing another challenge to efforts to revive European factories.
Oil Prices Barely Budge After Trump Lifts Russia Sanctions

After surging about 10 percent on Thursday, oil prices had little reaction to the decision by President Trump to waive sanctions on the sale of some Russian crude.
War in Iran Has India Scrambling to Keep Stoves Lit for Cooking

India relies on huge quantities of cooking gas that is normally shipped from the Persian Gulf.
Fallout From Iran War and Oil Shock Deliver Another Blow to World Economy

Countries already walloped by a breakdown of the international trading order, war in Ukraine and chaotic U.S. policymaking are facing potentially lasting economic damage.
Why Does Oil Matter So Much to the Global Economy?

The war in the Middle East has sent oil and gas prices soaring. Our energy reporter Rebecca F. Elliott breaks down how much the world continues to depend on reliable sources of oil.