Oil and Gas
Congressional Democrats demand reversal of Russian oil sales into India as energy prices soar
U.S. Sen. Ruben Gallego (D–AZ) speaks during the “People’s State of the Union” event ahead of U.S. President Trump’s State of the Union address in Washington, D.C., U.S., Feb. 24, 2026. Elizabeth Frantz | Reuters Congressional Democrats are demanding that the Trump administration immediately reverse a sanctions waiver allowing Indian refiners to purchase Russian oil […]
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Iran’s strategic oil island thrust into the spotlight as Middle East conflict escalates
A support vessel maneuvers near the crude oil tanker ‘Devon’ as it sails through the Persian Gulf towards Kharq Island oil terminal to transport crude oil to export markets in Bandar Abbas, Iran, on Mar. 23, 2018. Ali Mohammadi | Bloomberg | Getty Images Iran’s Kharg Island, a small but strategically vital strip of land […]
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Why China can withstand oil’s surge past $100 more easily than other countries
Key Points The latest Middle East tensions shed light on how the world’s three largest oil consumers have taken different approaches to energy. China has gradually increased the share of renewables in its total energy demand, more than the U.S. and India. China is the world’s largest oil importer, but it relies less on energy […]
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Oil surges above $100 a barrel; Trump says ‘small price to pay’ for defeating Iran
Crude oil prices surged above $100 per barrel on Sunday, after major Middle East producers cut output because the critical Strait of Hormuz remains closed due to the Iran war. West Texas Intermediate jumped 17%, or $15.32, to $106.22 per barrel. Global benchmark Brent advanced 15%, or $14.28, to $106.92. U.S. crude oil surged about […]
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Energy prices will fall when U.S. destroys Iran’s ability to attack tankers in Strait of Hormuz: Wright
U.S. Energy Secretary Chris Wright pumps gas at a gas station in Corpus Christi, Texas, U.S., February 27, 2026. Sheila Dang | Reuters Energy Secretary Chris Wright said oil and gas prices will begin to fall when the U.S. begins to knock out Iran’s ability to hinder tanker traffic through the Strait of Hormuz, as […]
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Kuwait cuts oil production as Strait of Hormuz closure disrupts global energy market
Kuwait said Saturday that it has cut oil production and refining output because tankers cannot transit the Persian Gulf due to threats from Iran. The Arab monarchy did not say how many barrels per day it has cut, but described the output reduction as a precautionary measure that will be “reviewed as the situation develops.” […]
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Analysis: Tough jobs report puts Trump’s Iran war plans to the test
A difficult jobs report comes at a tough time for the White House. Gas prices are rising due to the war in Iran, while stock market turmoil is making savers and retirees antsy about the state of their 401(k)s. Data released Friday showing a loss of 92,000 jobs in February will put pressure on the […]
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Europe faces a ‘massive’ gas price shock from Iran war — and these three sectors will be hit hardest
As commodity prices spiked higher on Friday morning, a strategist warned that Europe was even more at risk of an energy shock than the U.S. Speaking with CNBC’s “Europe Early Edition”, Joachim Klement, head of strategy at Panmure Liberum, noted that Europe now sources most of its natural gas from Qatar, one of the world’s […]
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Oil rally resumes after brief dip in prices as Brent tops $86 a barrel
Oil prices jumped to their highest levels in months on Monday as Iran and Israel escalated attacks in the Middle East, disrupting shipments from the region. Bloomberg Creative Photos | Bloomberg Creative Photos | Getty Images Oil prices rose on Friday morning, wiping out an earlier dip that had boosted sentiment in international equity markets. […]
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U.S. offers India a 30-day waiver for buying Russian oil as Iran war deepens energy supply worries
This photograph shows a page on the Marinetraffic website thats shows commercial ship traffic on the edge of the Strait of Hormuz near the Iranian coast on March 4, 2026. Julien De Rosa | Afp | Getty Images After slapping 25% “penalty” tariffs on India for buying Russian crude — revoked last month — the […]
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