Because of the war in Iran, the cost has climbed past the record it reached in 2022 after Russia’s full-scale invasion of Ukraine.
Category: Oil (Petroleum) and Gasoline
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U.S. Diesel Prices Set New High
The New York Times – Business: -
Bessent Blames Ukraine for High Energy Prices
The New York Times – Business:After meeting with Russia’s finance minister, the Treasury secretary said Ukraine’s attacks on Russian oil infrastructure were contributing to a global energy shock driven mainly by the US war with Iran.
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Oil Jumps for Fourth Straight Day and Diesel Nears Record High
The New York Times – Business:This week’s renewed strikes by the United States and Iran strain the flow of energy and diminish expectations the disruption will end soon.
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Investors Still on Edge Over War, Debt and Inflation
The New York Times – Business:U.S. and Iranian forces traded attacks again, pushing oil prices higher, stocks lower and making bond investors nervous.
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Chevron Expansion in Venezuela Extends U.S. Influence Over Oil Riches
The New York Times – Business:The U.S. energy giant, which stayed in the country after other Western companies left, will invest $7 billion in the country to more than double its production there.
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Two More Oil Tankers Are Attacked in the Strait of Hormuz
The New York Times – Business:The ships were hit near Oman on Monday, the latest attacks on vessels in the Persian Gulf. Oil prices rose more than 2 percent.
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How the Pentagon Is Getting Into the Venezuelan Oil Business Under Trump
The New York Times – Business:The Defense Department’s Office of Strategic Capital, founded by the Biden administration to give loans to bolster the U.S. defense industry, is helping lead President Trump’s oil deal.
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Summit With Russia, India and Iran Shows Leverage Wars Have Given Xi of China
The New York Times – On the Runway:A two-day conference of the 10-nation Shanghai Cooperation Organization in Kyrgyzstan shows the limits of U.S. economic warfare.
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Global Oil Price Rises to $90 a Barrel After U.S. and Iran Trade Attacks
The New York Times – Business:The first attacks in a month jolted energy markets. The average U.S. gasoline price remained 37 percent higher since the war began.
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Trump’s Venezuelan Oil Deal Relies on a Powerful and Divisive Partner
The New York Times – Business:The administration will work with a private Venezuelan oil company that has close ties to the country’s government.
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Trump Says U.S. Has Deal for Control of Large Share of Venezuela’s Oil
The New York Times – Business:The president said an agreement between the countries involved “a partnership with private business” and more than 65 billion barrels of reserves.