The U.S. is the world's leading oil producer. So why are gas prices soaring?
"If the price of oil goes up, the price of everything goes up," said former U.S. Energy Secretary Ernest Moniz.
Oil and Gas
How gas prices could impact other goods
The price of gas and diesel continue to rise as the war with Iran continues. The increased prices could impact the cost of other goods from groceries to airline tickets. Kelly O'Grady explains.
Israel targets more Iran leaders as allies reject Trump's calls for help
Israel says it killed Iran's top security official Ali Larijani, as America's European allies reject President Trump's demands for help in the Strait of Hormuz.
Iran war keeps Strait of Hormuz paralyzed and gas prices on the rise
The Iran war could escalate further as President Trump threatens to hit key oil infrastructure if Tehran doesn't drop its chokehold on the Strait of Hormuz.
Iran strikes U.S. oil tanker in Strait of Hormuz
Since the start of the U.S. and Israel's war with Iran just over two weeks ago, 500 tankers have been stuck by Iran in the Strait of Hormuz. Imtiaz Tyab reports.
Trump asks allies to help secure Strait of Hormuz
President Trump continued to press other nations to help open up the Strait of Hormuz as the war with Iran entered its third week. Ed O'Keefe has details.
With gas prices still rising, experts recommend 3 ways to save fuel
Small adjustments, like maintaining a steady speed while driving, can help maximize fuel efficiency, experts say.
Trump asks for help with Strait of Hormuz
White House press secretary Karoline Leavitt told CBS News' Nancy Cordes that President Trump has a right to ask allies for help with reopening the Strait of Hormuz. CBS News' Charlie D'Agata, Imtiaz Tyab and Nancy Cordes have more.
Markets attempts to stay optimistic on oil
The stock market appears optimistic that the war in Iran will end soon and that oil prices will drop. Joy Wiltermuth, a reporter for MarketWatch, joins CBS News with more details.
Gas prices edge higher with Brent crude remaining above $100 per barrel
Gas prices have jumped almost 79 cents per gallon from a month ago, raising fresh inflation concerns.
Latest news on Iran war as Trump faces anger
President Trump is trying to soothe concerns over rising oil and gas prices. This comes as he calls on allies to help protect ships on the Strait of Hormuz from Iranian attacks. CBS News' Charlie D'Agata and Imtiaz Tyab report.
Oil prices are falling — gas prices aren't. Here's why.
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.
Trump presses Strait of Hormuz to reopen
President Trump is calling on other countries to help reopen the Strait of Hormuz, a narrow waterway south of Iran that's crucial to moving oil tankers in and out of the Persian Gulf. Imtiaz Tyab has the latest.
War in Iran squeezing U.S. oil supply
The economic risks of the war in Iran are getting real for Americans at home. Stock markets ended the week down again as the conflict dragged on. This as U.S. crude oil costs are pumped up. Andres Gutierrez has more on the energy shock.
Trump asks for help to keep Strait of Hormuz open
President Trump called on countries like the U.K., France, South Korea, Japan and even China to help keep the Strait of Hormuz open as Iran tries to strangle the flow of oil from the region. Charlie D'Agata reports.
Energy secretary directs Texas oil company to restore operations off California
U.S. Energy Secretary Chris Wright invoked the Defense Production Act to restore the Sable Offshore Corp.'s Santa Ynez unit and pipeline off Santa Barbara's coastline.
Qatar caught in crossfire of Iran war
Qatar, home to the largest U.S. military base in the Middle East, has been hit by Iranian retaliatory strikes amid the U.S.-Israeli war. Dr. Majed Mohammed Al-Ansari, who is the official spokesperson of Qatar's Ministry of Foreign Affairs, told CBS News' Imtiaz Tyab that the region needs "an end to this as soon as possible," warning, "a prolonged conflict in this region will have a profound impact" on the energy industry.
U.S. strikes key Iranian oil hub
President Trump said Friday night on social media that the U.S. struck a key Iranian oil hub on Kharg Island as tensions over the global oil supply ramp up amid Iran's closure of the Strait of Hormuz.
From the archives: Nixon on 1973 oil crisis
Then-President Richard Nixon addressed the nation from the Oval Office during the 1973 energy crisis. Fueled by the Yom Kippur War, members of the Organization of the Petroleum Exporting Countries in the Middle East banned the sale of oil to the U.S. and other countries, sharply raising gas prices for Americans as they faced their first fuel shortage since WWII.
From the archives: Grappling with the 1973 oil crisis
On Nov. 29, 1973, CBS News aired a special report titled "Making It Through This Winter," spotlighting the ways Americans were making do amid the oil crisis. Watch the program in full.
Tankers and Tycoons | 60 Minutes Archive
In 1971, Mike Wallace reported on the Middle East oil tanker business, noting that "the oil tanker may just be the single most remarkable money-making instrument in the world today."
High oil prices are boosting airfares. These tips could save you money.
Planning a trip? Travel experts recommend booking your flight soon as the Iran war drives up airline and ticket costs.
Trump weighs Jones Act waiver amid rising fuel prices, White House says
Easing the century-old shipping law could help lower fuel prices as the Iran war pushes crude oil near $100 a barrel, experts say.
Trump administration allows purchase of Russian oil already at sea
The U.S. is temporarily allowing the purchase of Russian oil that's already at sea, in the Trump administration's latest move to loosen sanctions on Russia's oil industry as the world grapples with high oil prices.
Iran war disrupts global oil trade as Trump administration prepares to escort ships
Iran's relentless attacks on Gulf states and infrastructure appear to be overshadowing interventions by the U.S. and its allies aimed at easing energy prices.
Trump touts "fantastic trade deals" with Xi as Beijing summit ends
President Trump and Chinese President Xi Jinping concluded their summit in Beijing on Friday with both countries looking to claim the visit as a win.
Live
Iran says it "cannot trust" U.S. in negotiations as Trump says "we control" strait
Speaking to reporters on Air Force One, President Trump also claimed to have "wiped out" Iran's armed forces.
How a growing El Niño will affect 2026 hurricane season in Atlantic, Pacific
The last time an El Niño pattern occurred was in 2023, when the Eastern Pacific hurricane season produced 20 tropical systems.
Exclusive
Pentagon's rush to counter drone threat may pose safety risks, specialist says
The safety specialist's warning appeared in a memo describing how a mini-drone had detonated and injured an Army Special Forces soldier.
Exclusive
U.S. moving to indict Cuba's Raúl Castro, sources say
The potential indictment — which must be approved by a grand jury — is expected to focus on Cuba's 1996 downing of two planes operated by a humanitarian group.
How will Jerome Powell be remembered as he exits as Fed chair?
As Powell steps down after more than eight years leading the Federal Reserve, economists say he helped steer the U.S. through historic shocks but misread inflation.
Democratic Rep. Steve Cohen drops reelection bid after redistricting
Democratic Rep. Steve Cohen of Tennessee announced Friday that he's retiring from Congress at the end of this term after his district in Memphis was redrawn.
Ebola outbreak in Congo kills dozens, Africa's CDC says
A new Ebola outbreak in a remote province in Congo has caused 65 deaths and 246 suspected cases so far, Africa CDC says.
Exclusive
ICE releases wife of U.S. Army soldier after monthlong detention
ICE has released the wife of an active-duty U.S. soldier after a month in detention, her husband told CBS News.
U.S.
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Exclusive
Pentagon's rush to counter drone threat may pose safety risks, specialist says
The safety specialist's warning appeared in a memo describing how a mini-drone had detonated and injured an Army Special Forces soldier.
Democratic Rep. Steve Cohen drops reelection bid after redistricting
Democratic Rep. Steve Cohen of Tennessee announced Friday that he's retiring from Congress at the end of this term after his district in Memphis was redrawn.
This week on "Sunday Morning" (May 17): "By Design"
"Sunday Morning" presents its annual edition touching on all aspects of design, hosted by Jane Pauley.
How a growing El Niño will affect 2026 hurricane season in Atlantic, Pacific
The last time an El Niño pattern occurred was in 2023, when the Eastern Pacific hurricane season produced 20 tropical systems.
Exclusive
2 senators call on FAA to study impact of reduced flight attendant staffing
Sens. Tammy Duckworth of Illinois and Tammy Baldwin of Wisconsin say their concern is there may be more emergency exit doors than flight attendants in the event of an evacuation.
MoneyWatch
More MoneyWatch
How will Jerome Powell be remembered as he exits as Fed chair?
As Powell steps down after more than eight years leading the Federal Reserve, economists say he helped steer the U.S. through historic shocks but misread inflation.
Oklahoma becomes latest state to sue Roblox over child safety concerns
Oklahoma has filed a lawsuit against Roblox, making it the latest state to take legal action against the popular gaming platform over child safety concerns.
Trump Mobile says its T1 mobile phone to ship this week
Trump Mobile's $499 gold-toned phone has faced delays since it was unveiled in June 2025.
Why are so many U.S. CEOs in China with Trump, and what do they want?
More than a dozen American CEOs are accompanying President Trump on his trip to China. That's not unusual.
Jury awards $49.5 million to Boeing 737 MAX crash victim's family
A jury in Chicago awarded $49.5 million in damages Wednesday to the family of a 24-year-old American who perished in a 2019 Boeing 737 MAX crash.
Politics
More Politics
Exclusive
Pentagon's rush to counter drone threat may pose safety risks, specialist says
The safety specialist's warning appeared in a memo describing how a mini-drone had detonated and injured an Army Special Forces soldier.
Democratic Rep. Steve Cohen drops reelection bid after redistricting
Democratic Rep. Steve Cohen of Tennessee announced Friday that he's retiring from Congress at the end of this term after his district in Memphis was redrawn.
Exclusive
2 senators call on FAA to study impact of reduced flight attendant staffing
Sens. Tammy Duckworth of Illinois and Tammy Baldwin of Wisconsin say their concern is there may be more emergency exit doors than flight attendants in the event of an evacuation.
FDA blocked melanoma drug as confusion reigned under Makary
A third of patients in a clinical trial had tumors shrink while taking a genetically engineered treatment known as RP1.
How will Jerome Powell be remembered as he exits as Fed chair?
As Powell steps down after more than eight years leading the Federal Reserve, economists say he helped steer the U.S. through historic shocks but misread inflation.
HealthWatch
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HealthWatch
The origins of hantavirus
The deadly hantavirus outbreak on a Dutch-flagged cruise ship was caused by the Andes virus, the only known strain to spread from person to person. Rodents are known to carry hantavirus, but what's the disease's origin story? Ramy Inocencio explains.
Ebola outbreak in Congo kills dozens, Africa's CDC says
A new Ebola outbreak in a remote province in Congo has caused 65 deaths and 246 suspected cases so far, Africa CDC says.
FDA blocked melanoma drug as confusion reigned under Makary
A third of patients in a clinical trial had tumors shrink while taking a genetically engineered treatment known as RP1.
RFK Jr. says he won't run for president in 2028
HHS Secretary Robert F. Kennedy Jr. is trying to address the interests of his MAHA supporters, who view him as their hope for the future, while being a good soldier in the eyes of the Trump White House.
Teens help save man having a heart attack
Three South Florida teenagers helped a 65-year-old having a heart attack. Matt Gutman has the story.
World
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NASA maps show Earth's brightest and darkest regions at night
Researchers expected to find "a gradual increase in artificial light at night," but instead saw "much more nuanced patterns," NASA said.
Coast Guard stops boats holding 3 tons of cocaine, opens fire on one
The crew of the Tahoma, a 270-foot Coast Guard cutter, made the interdictions about 90 miles off the coast of Cartagena, Colombia.
How a growing El Niño will affect 2026 hurricane season in Atlantic, Pacific
The last time an El Niño pattern occurred was in 2023, when the Eastern Pacific hurricane season produced 20 tropical systems.
Live
Iran says it "cannot trust" U.S. in negotiations as Trump says "we control" strait
Speaking to reporters on Air Force One, President Trump also claimed to have "wiped out" Iran's armed forces.
5 tourists killed in cave diving accident; search underway for bodies
The University of Genoa said the victims included a marine biology professor, her daughter and two young researchers.
Entertainment
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Entertainment
Inside look at "Jack Ryan: Ghost War"
John Krasinski and Michael Kelly join "CBS Mornings" to discuss reuniting for the movie, "Tom Clancy's Jack Ryan: Ghost War," after starring in the TV series "Tom Clancy's Jack Ryan" for four seasons. They discuss the movie, their friendship and how they balance it all with their busy family lives.
Previewing new season of "Couples Therapy"
Dr. Orna Guralnik speaks to "CBS Mornings" about the new season of the docuseries "Couples Therapy," which features Guralnik counseling four new couples on how to tackle issues in their relationships, including major political differences and infidelity.
Drake releases three new albums
In a surprise, Drake dropped three new albums Thursday night, including "Iceman." It's the Canadian rapper's first new music since his explosive public feud with Kendrick Lamar.
Yellowstone spinoff "Dutton Ranch" premieres
Yellowstone actors Cole Hauser and Kelly Reilly are reprising their roles as the fan-favorite onscreen couple Rip Wheeler and Beth Dutton in the newest "Yellowstone" spinoff, "Dutton Ranch." CBS News' Julianne Ferreira has more.
From the archives: Outspoken film critic Rex Reed
Film critic Rex Reed, whose clever and barbed opinions about movies – and movie stars – made him a fixture for decades in print and on television, died on May 12, 2026 at age 87. In this Feb. 4, 2018 "Sunday Morning" profile, Reed talked with Mo Rocca about how he came to live the life of an A-Lister himself. He also dispensed his unvarnished opinions about that year's best picture Oscar-nominees.
Technology
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Oklahoma becomes latest state to sue Roblox over child safety concerns
Oklahoma has filed a lawsuit against Roblox, making it the latest state to take legal action against the popular gaming platform over child safety concerns.
How the Trump-Xi summit could impact AI race
President Trump's visit to Beijing comes as the U.S. and China compete for artificial intelligence supremacy. Matt Sheehan, senior fellow at the Carnegie Endowment for International Peace, joins with analysis.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Closing arguments held in OpenAI case
Lawyers presented closing arguments Thursday in the OpenAI trial pitting Elon Musk against its CEO, Sam Altman. CBS News legal contributor Jessica Levinson has more.
Trump Mobile says its T1 mobile phone to ship this week
Trump Mobile's $499 gold-toned phone has faced delays since it was unveiled in June 2025.
Science
More Science
How a growing El Niño will affect 2026 hurricane season in Atlantic, Pacific
The last time an El Niño pattern occurred was in 2023, when the Eastern Pacific hurricane season produced 20 tropical systems.
NASA spacecraft to fly past Mars on voyage to rare metal asteroid
NASA's Psyche spacecraft will slingshot past Mars on Friday, on its way toward a rare metal-rich asteroid.
Emperor penguins in focus as Antarctica talks start in Japan
Greater protections for endangered emperor penguins and how to manage growing tourism are topping the agenda at talks on Antarctica in Japan.
What's in the released UFO files?
The Pentagon released UFO documents on Friday, with President Trump telling the public to "have fun" deciding for itself what is going on. Carter Evans reports.
Trump: UFO files released for transparency
Defense Secretary Pete Hegseth said it's time for the American people see it for themselves, as the Pentagon started releasing previously classified documents related to UFOs and UAPs. CBS News Pentagon reporter Eleanor Watson has more.
Crime
More Crime
Coast Guard stops boats holding 3 tons of cocaine, opens fire on one
The crew of the Tahoma, a 270-foot Coast Guard cutter, made the interdictions about 90 miles off the coast of Cartagena, Colombia.
Cartel leader "The Gardener" hit with U.S. charges after dramatic capture
Jalisco cartel boss Audias Flores Silva was arrested in an operation by Mexican Navy special forces based on information provided by U.S. agencies.
Former death row inmate granted bond after nearly being executed 3 times
An Oklahoma judge granted bond to former death row inmate Richard Glossip on Thursday, laying the groundwork for his first release from prison since 1997.
Software CEO convicted for running $1 billion Medicare fraud scheme
Brett Blackman was convicted on charges including healthcare and Medicare fraud, and faces decades in prison.
Huge twist in Alex Murdaugh case
Alex Murdaugh, the former South Carolina lawyer who was convicted of murder, will get a new trial and have his convictions overturned, the state's Supreme Court ruled Wednesday. CBS News' Eva Pilgrim reports.
Space
More Space
NASA maps show Earth's brightest and darkest regions at night
Researchers expected to find "a gradual increase in artificial light at night," but instead saw "much more nuanced patterns," NASA said.
NASA spacecraft to fly past Mars on voyage to rare metal asteroid
NASA's Psyche spacecraft will slingshot past Mars on Friday, on its way toward a rare metal-rich asteroid.
UFO files reveal astronauts saw mysterious objects and lights in 1972
NASA's Apollo 17 crew reported seeing three mysterious dots and sparks that resembled fireworks, according to new files released by the Pentagon.
Pentagon begins releasing UFO files: "It's time the American people see"
Defense Secretary Pete Hegseth said in a statement that the documents "have long fueled justified speculation — and it's time the American people see it for themselves."
Mysterious world beyond Pluto may have atmosphere, study says
If confirmed, the rock would become just the second world past Neptune in our solar system to host an atmosphere.
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David Begnaud meets a man who has attended the Kentucky Derby for 79 years in a row – and his dying wish to make it there one last time.
The origins of hantavirus
The deadly hantavirus outbreak on a Dutch-flagged cruise ship was caused by the Andes virus, the only known strain to spread from person to person. Rodents are known to carry hantavirus, but what's the disease's origin story? Ramy Inocencio explains.
Inside look at "Jack Ryan: Ghost War"
John Krasinski and Michael Kelly join "CBS Mornings" to discuss reuniting for the movie, "Tom Clancy's Jack Ryan: Ghost War," after starring in the TV series "Tom Clancy's Jack Ryan" for four seasons. They discuss the movie, their friendship and how they balance it all with their busy family lives.
Previewing new season of "Couples Therapy"
Dr. Orna Guralnik speaks to "CBS Mornings" about the new season of the docuseries "Couples Therapy," which features Guralnik counseling four new couples on how to tackle issues in their relationships, including major political differences and infidelity.
Latest on Cuba after CIA director's visit
CIA Director John Ratcliffe visited Cuba as more details emerge about potential moves by the U.S. CBS News' Olivia Gazis report.