ENERGY

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.

Though sanctions on Iranian oil exports have been waived as part of the ceasefire deal with the U.S., Tehran could face not having any interested buyers.

Energy analysts are warning that the market may be underestimating the lingering risks of the Iran war to global oil supplies.

President Donald Trump on Friday accused Iran of committing what he called a "foolish violation" of a recently reached ceasefire agreement after Tehran allegedly launched four one-way attack drones at commercial vessels transiting the Strait of Hormuz.

The Trump administration reportedly plans to ask Congress to permanently authorize year-round sales of E15 gasoline, an ethanol-blended fuel that supporters say could lower prices at the pump.

President Donald Trump has accused major oil companies of "gouging" American consumers by failing to lower gasoline prices fast enough as oil prices drop following the reopening of the Hormuz Strait.

The Trump administration announced on Tuesday a sweeping $17.5 billion federal loan initiative to accelerate the construction of 10 large nuclear reactors across the United States.

Chevron has announced a landmark agreement with technology titan Microsoft to supply natural gas-fired electricity to a massive artificial intelligence data center campus in West Texas.

China's oil purchases fell dramatically, with imports dropping to about 7.8 million barrels per day in May, their lowest level since late 2017.

OPEC Secretary General Haitham Al Ghais has pushed back against forecasts from the International Energy Agency (IEA) that the global oil market is headed toward a major supply glut.

In its latest Oil Market Report, the IEA agency said global oil demand growth has weakened substantially compared to the optimistic forecasts it published at the start of the year.

Oil prices fell sharply on Friday after President Donald Trump said the United States was nearing an agreement with Iran.

Once the dominant source of U.S. electricity, coal has steadily lost market share due to competition from cheaper natural gas, renewable energy expansion, aging power plants, and environmental regulations.

A Texas-based fuel trader is under investigation in the United States and Mexico after documents allegedly showed a paper trail linking fuel shipments to a smuggling scheme tied to the Jalisco New Generation Cartel.

President Donald Trump's claim that Iran's oil pipelines could soon "explode" under pressure from a U.S. blockade is drawing skepticism from energy analysts.

Gas prices were near $4.18 a gallon on Tuesday, up $1.19 since late February, when the U.S. and Israel attacked Iran.

Baker Hughes CFO Ahmed Moghal told investors on the company's first-quarter earnings call that Baker Hughes' financial guidance assumes the conflict continues through the end of June.

The global surge in energy prices is no longer driven solely by Iran war-related supply disruptions. Now hoarding behavior internationally is also playing a role.

China's Jinta molten salt energy tower stands as an "energy fortress" designed to help the country absorb the oil shock caused by the tensions surrounding the Strait of Hormuz.