ENERGY

The Orinoco Belt holds the majority of Venezuela's estimated 303 billion barrels of oil reserves.

The one-month rolling correlation between front-month West Texas Intermediate crude oil and the benchmark 10-year Treasury yield has climbed to 0.96.

Trump said on August 31 that the strait had been averaging "30 ships a night."

The emerging framework includes separate deals involving Chevron, private oil operators and, most unusually, a direct U.S. government investment in a Venezuelan-focused energy company.

Continued disruption around the Strait of Hormuz and Red Sea, combined with reduced Saudi Arabian oil production, has raised concerns that elevated energy prices could persist rather than prove to be a temporary shock.

The immediate catalyst was a wave of Houthi attacks on southern Saudi Arabia.

Diesel reached a record national average of $5.90 a gallon on Labor Day, increasing costs for freight and deliveries that can eventually reach consumers through food and other goods.

The Trump administration maintains that the U.S. Navy is assisting dozens of ships through the waterway at night and that many of those movements are not detected by commercial tracking services.

The agreement gives the U.S. government a 35 percent stake in North American Blue Energy Partners.

Production announcements that once could send oil prices soaring or tumbling are having far less impact.

Oman's Foreign Minister Sayyid Badr bin Hamad Albusaidi said talks in Tehran with Iranian Foreign Minister Abbas Araghchi had been constructive and expressed hope that an agreement on a temporary corridor could be announced soon.

Diesel futures have climbed to roughly $100 above crude oil prices, an unusually wide gap that reflects a global shortage of refinery capacity rather than simply a lack of crude.

Nuclear startup Applied Atomics is working with BWXT to revive mPower, a small modular reactor project that was abandoned in 2017 after years of development to power AI data centers.

Marathon Petroleum, Valero Energy and HF Sinclair have each surged more than 80% this year, compared with an approximately 11% gain for the S&P 500.

A new analysis found that refineries worldwide processed 7.5 million fewer barrels of crude per day last month than during the same period last year.

Oil exports from Egypt's Mediterranean port of Sidi Kerir have more than doubled in August, reaching about 2.3 million barrels per day compared with roughly 1 million bpd in July.

Oil prices remain far below the surge above $100 a barrel last month and the peak of more than $110 reached in May, but analysts say the relative calm may become increasingly difficult to sustain.

According to senior U.S. officials and people familiar with negotiations, much of the blame is being directed at the U.S. Department of Energy for the lack of deals with Venezuela.

The U.S: Strategic Petroleum Reserve fell this week to its lowest level since March 1983 after the federal government withdrew a total of 352 million barrels of crude oil over the past four years to respond to geopolitical conflicts.

President Donald Trump said Monday that the United States has sold more than $13 billion worth of Venezuelan oil so far this year following the capture of authoritarian President Nicolas Maduro.

National average gasoline prices have already climbed above $4 a gallon, while crude oil has surged past $100 per barrel following weeks of escalating military action across the Middle East.

The combined disruption of the Strait of Hormuz and the Bab el-Mandeb is forcing some shipments to take a circuitous route around Africa's Cape of Good Hope, making voyages longer and $ 2.5 million more expensive.

Investment giant BlackRock estimated that the conflict with Iran is expected to increase global headline inflation by approximately 0.8 percentage points.

How methanol connects traders, criminal networks, and Russian commodities in Brazil.

When the conflict intensified at the end of February, many analysts warned that Brent crude could surge to between $150 and $200 per barrel if Iran succeeded in disrupting traffic through the Strait of Hormuz.

The proposed project would restore the pipeline connecting the oil-rich city of Kirkuk in northern Iraq with Syria's Mediterranean coast.

Governments across the Gulf are accelerating pipeline construction after Iran and its regional allies intensified attacks on commercial shipping, but experts say pipelines remain exposed to military strikes from Tehran.

Mohammed al-Farah, a member of the political bureau of the Houthi movement, said Yemen's armed forces were prepared to close the Bab el-Mandeb Strait if Saudi Arabia continued military operations against Yemen.

EV sales rebounded during the second quarter of 2026, suggesting the industry's prolonged downturn may be easing even after the federal electric vehicle tax credit expired last year.