In a speech to the nation on April 1, President Donald Trump spoke of the Iran war, and the contest for control of the Strait of Hormuz, as if their outcome had little bearing on the market for oil and gasoline in the United States. “The United ...

Benchmark Brent oil prices soared above $119 a barrel on Thursday following Iran’s retaliatory attacks on energy facilities across the Middle East, marking a major escalation in the war. After Israel hit Iran’s South Pars gas field, the largest of its ...

U.S. gas prices have jumped past an average of $4 a gallon for the first time since 2022. Meanwhile, authorities in Dubai said Tuesday morning a Kuwaiti oil tanker was attacked by Iran. Trump messages to other countries impacted by fuel disruptions to, "Go ...

April 21 (Reuters) - The U.S.-Israeli war with Iran has disrupted shipping through the Strait of Hormuz, the world's most important oil chokepoint, exposing the Middle East's limited alternatives for exporting its hydrocarbons. The International Energy ...

Dubai crude oil prices surpassed $150 a barrel as transit in the Strait of Hormuz was crippled by the U.S.-Iran War. Brent crude prices have surged nearly 50% since the start of the war and currently trade around the $106 mark. Because of its proximity to ...

Oil from the Persian Gulf region made up about 8% of total U.S. crude imports last year, according to data from the Energy Information Administration. U.S. imports from the region - which EIA calls the Middle East Gulf region - have come under scrutiny in ...

In a speech to the nation on April 1, President Donald Trump spoke of the Iran war, and the contest for control of the Strait of Hormuz, as if their outcome had little bearing on the market for oil and gasoline in the United States. “The United ...