The president was asked about a potential strike on the oil infrastructure of Iran, which accounts for about 2 percent of the world’s supply.
Category: Oil (Petroleum) and Gasoline
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U.S. Faces Economic Turbulence Just as Recession Fears Eased
War in the Middle East, the port workers strike and a devastating hurricane have injected uncertainty into the U.S. economy.
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Iran-Israel Fighting May Cause Oil Prices to Jump, Analysts Warn
An escalation of fighting between Israel and Iran could cause oil prices to spike and send a chill through the global economy.
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Why the Conflict Between Iran and Israel Has Raised Oil Prices Only Modestly
The fighting is increasing fears about oil supplies, but those worries are offset by greater global production and slowing demand in China.
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F.T.C. Clears Chevron’s Purchase of Hess With Board Condition
The Federal Trade Commission said the oil giant can acquire the smaller company as long as the chief executive of Hess does not join its board.
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Top Bidder for Citgo Is Elliott Management, Court Master Says
The sale, which requires a judge’s approval, would help compensate foreign companies owed billions of dollars by the government of Venezuela, which owns Citgo.
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Big Energy Issue in Pennsylvania Is Low Natural Gas Prices. Not Fracking.
Energy businesses and farmers in western Pennsylvania are struggling because of prices, an issue that has not figured prominently in the campaigns of Donald J. Trump and Kamala Harris.
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Gas Prices Are Falling, a Win in Fight Against Inflation
A gallon of regular gasoline in August was down nearly 12 percent from a year earlier, reflecting a fall in oil prices as well as a decline in demand.
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Trump’s Promises to Cut Inflation Are Unrealistic, Many Economists Say
Economists and analysts are dubious of Trump’s promises to slash gas prices or prod interest rates lower.
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OPEC Plus Delays Plan to Increase Oil Output
OPEC Plus will extend its cuts until at least December. Demand has weakened, and other countries, including the United States, are expected to continue to increase production.
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Stock Prices and Oil Fall in Sharpest Decline Since Early August
The S&P 500 fell more than 2 percent on Tuesday, its biggest single-day drop since an early August meltdown.
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Why Oil Prices Remain Subdued
Despite war in the Middle East and political turmoil in Libya, investors are focusing on what look like ample global supplies.