Conflict is forcing producers to slash production and close ports as Iran steps up attacks on energy infrastructure.
Category: Oil (Petroleum) and Gasoline
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Why Oil Prices Surged Even After the Release of Strategic Reserves
Reserves or no reserves, the outlook remains bleak as long as a major oil and gas trade route remains virtually closed.
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Countries Scramble to Shore Up Global Oil Supplies as Ships Are Attacked
The United States and Israel launched more strikes against Iran, where crowds mourned military commanders killed in the war. Israel also bombed targets in Lebanon, where the death toll climbed.
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How the Iran War Could Hit Americans’ Wallets
Gas prices are rising, with the cost of food likely to follow. If the conflict drags on, the fallout for consumers could worsen, experts warned.
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Japan and Germany Say They Will Release Oil
Officials in Tokyo and Berlin said they planned to release oil from their strategic reserves to address disruptions of supplies from the Middle East.
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Since February, rising gas prices have added to inflation.
Gas prices don’t move in lock step with crude, usually trailing increases or drops by a few days.
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Trump Directs Iran War Keeping Markets Top of Mind
President Trump again demonstrated his desire to keep the stock markets aloft when he suggested U.S. attacks on Iran could end soon.
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U.S. Gas Prices Jump for 11th Straight Day, and Oil Pushes Higher
Drivers are paying an average of 20 percent more at the pump since the strikes on Iran began. The global oil price was up and stocks in Asia rose.
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How Trump and His Advisers Miscalculated Iran’s Response to War
In the lead-up to the U.S.-Israeli attack, President Trump downplayed the risks to the energy markets as a short-term concern that should not overshadow the mission to decapitate the Iranian regime.
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Elevated Energy Prices Add to Fed’s Dilemma on Interest Rates
Investors now expect that the Fed will delay a rate cut until September instead of July, as they had before the war in Iran began.
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What to Know About the Rising Price of Oil and Its Effects on Airline Ticket Prices
The Gulf conflict has led to higher fuel prices, and the cost of operating a plane has sharply increased. For travelers, that likely means higher fares.
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Rising Fuel Costs Pressure Airlines and Truckers
The price of jet fuel and diesel has surged since the war in Iran began, which could force airlines and trucking companies to pass on higher costs to their customers.