U.S. and Iran reach ceasefire deal, launching 2-week diplomatic push
President Trump announced that the U.S. and Iran had agreed to a two-week ceasefire that was contingent on the reopening of the Strait of Hormuz.
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President Trump announced that the U.S. and Iran had agreed to a two-week ceasefire that was contingent on the reopening of the Strait of Hormuz.
"The scary scenarios are, unfortunately, extremely plausible" if the critical Persian Gulf waterway stays effectively sealed, economist Paul Krugman said.
Summer gasoline regulations will be waived for 20 days, and possibly longer to try to ease gas prices.
With gas closing in on $4 a gallon, the Trump administration is pulling multiple levers to tame energy prices. The results have been mixed.
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 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 U.S. average gas price has jumped 48 cents since last week, with experts predicting that higher fuel costs could persist for months.
U.S. motorists could soon see higher prices at the pump as oil prices surge following the attacks in Iran.
Stocks recovered on Monday after tumbling earlier in the day over concerns that the U.S.-Israel attacks on Iran could drive up energy costs.
Officials say a large fire at a Chevron refinery in El Segundo, in Los Angeles County, has been contained and there are no reports of injuries.
California Gov. Gavin Newsom signed a sweeping package of bills on Friday charting the state's continuing transition to green energy, which includes an extension of the state's landmark cap-and-trade program.
When California Democrats accept oil money or vote against "climate-friendly" bills, they are often criticized or accused of being beholden to the oil industry. But are they?
"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.
California lawmakers on Monday approved the nation's first penalty for price gouging at the pump, voting to give regulators the power to punish oil companies for profiting from the type of gas price spikes that plagued the nation's most populous state last summer.
California lawmakers on Monday approved the nation's first penalty for price gouging at the pump, voting to give regulators the power to punish oil companies for profiting from the type of gas price spikes that plagued the nation's most populous state last summer.
