Gas prices could top $5 if Strait of Hormuz stays shut, J.P. Morgan says
Gas prices in the U.S. could near a record high later this month if the Strait of Hormuz remains sealed, energy industry experts warn.
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Gas prices in the U.S. could near a record high later this month if the Strait of Hormuz remains sealed, energy industry experts warn.
President Trump's deadline for Iran to reach a deal to end the war or face punishing strikes on its bridges and power plants is less than 24 hours away.
President Trump hailed the rescue of a U.S. airman who was missing almost two days inside Iran — and threatened to hit power plants if Iran doesn't reopen the Strait of Hormuz.
With gasoline topping $4 a gallon, it now costs almost $145 to fill up a Ford F-150 pickup truck, a new analysis finds.
The average price of gas across the U.S. last reached $4 after Russia's invasion of Ukraine sent crude oil prices surging.
The U.S. Postal Service is raising some postage prices to help offset the federal agency's rising transportation costs as fuel prices surge.
As Iran threatens to mine the entire Persian Gulf, President Trump said his deadline for the Strait of Hormuz to reopen is postponed amid negotiations with Tehran.
The president threatened to "obliterate" Iranian power plants if Iran didn't reopen the Strait of Hormuz by late Monday night Eastern Daylight Time.
As Iran retaliates for an Israeli strike on the South Pars gas field, one analyst warns the war is "now hitting the plumbing of the global energy system."
A barrel of Brent crude topped $111, while the U.S. benchmark also rose as the Iran war intensifies.
Small adjustments, like maintaining a steady speed while driving, can help maximize fuel efficiency, experts say.
Even if oil prices ease, they won't return to the levels they were at before the war started, according to Patrick De Haan of GasBuddy.
President Trump ordered the release of 172 million barrels of oil from the U.S.'s Strategic Petroleum Reserve on Wednesday, after oil prices rocketed to their highest levels in years amid the U.S.'s war with Iran.
President Trump says the Iran war will end "very soon," but Tehran says it's "prepared to continue attacking" indefinitely, and it won't let oil leave the Gulf.
The Strategic Petroleum Reserve is designed to cushion disruptions to U.S. oil supplies during emergencies.
Surging global oil prices due to the Iran war are leading to a spike in gasoline costs for U.S. motorists.
U.S. motorists could soon see higher prices at the pump as oil prices surge following the attacks in Iran.
U.S. drivers are likely to see lower prices at the pump this year amid lower global oil prices and strong crude production.
CBS News looked at the cost of producing coal, gas, nuclear, wind and solar energy to determine which is the cheapest.
As U.S. strikes on Iranian nuclear facilities drive fears of retaliation, it remains to be seen whether Iran will try to block oil trade via the Strait of Hormuz.
Americans preparing to hit the road for Memorial Day are likely to find lowest fuel prices in years, according to Gas Buddy.
Chevron's purchase of Hess for $53 billion is the second energy industry megadeal this month amid a surge in oil prices.
"Climate change is here. It is terrifying. And it is just the beginning," U.N. Secretary-General Antonio Guterres said.
Climate change initiatives by universities sometimes mask their financial ties to Big Oil. Students are demanding change.
The group "Just Stop Oil" said the act was to demand that Britain halt all new oil and gas projects.
