New release of oil reserves will put U.S. supplies at 40-year low
The latest release of oil follows historic withdrawals from the Biden administration to combat gas prices from the Ukraine war.
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The latest release of oil follows historic withdrawals from the Biden administration to combat gas prices from the Ukraine war.
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.
The Strait of Hormuz sees roughly 20% of the world's oil flow through it, and tankers are stalled on both sides of the narrow chokepoint amid suspected Iranian drone attacks, rattling oil markets. Mike Sommers, president and CEO of the American Petroleum Institute, joins "The Takeout" with analysis.
The International Energy Agency agreed Wednesday to release 400 million barrels of oil from its strategic reserves to alleviate the shortage caused by the Strait of Hormuz shutdown. CBS News MoneyWatch correspondent Kelly O'Grady has the details.
With oil exports through the Strait of Hormuz halted, the International Energy Agency is meeting with G7 countries about whether they should tap their strategic petroleum reserves. CBS News reporter Kati Weis is following the debate.
The U.S. will be releasing one million barrels of oil a day from the country's Strategic Petroleum Reserve for the next six months in an effort to mitigate high gas prices, President Biden announced Thursday. Watch his remarks in this CBS News Special Report.
President Biden on Tuesday announced the release of oil from the Strategic Petroleum Reserve in an effort to lower gas prices amid the Thanksgiving holiday. Major Garrett anchors a special report from Washington, D.C., on the president's decision, Weijia Jiang joins from the White House and Jill Schlesinger discusses the economic impact.
President Biden unveiled his three-step plan Wednesday to lower oil prices. Part of that plan is the release of 15 million barrels of oil from the U.S. strategic reserve. The announcement comes weeks after OPEC+ announced it was cutting oil production, a decision that drove gas prices up. CBS News senior White House and political correspondent Ed O'Keefe discussed the president's plan.
In a speech Tuesday, President Biden pledged that if Democrats keep control of both chambers of Congress, the first bill he'll send them in 2023 will be legislation to codify Roe v. Wade. CBS News senior White House and political correspondent Ed O'Keefe joins "Red & Blue" to discuss the latest from the White House.
The Biden administration is releasing oil from the Strategic Petroleum Reserve to help combat high gas prices. CBS News senior White House and political correspondent Ed O'Keefe, Politico political reporter Maya King and Washington Post national political reporter Theo Meyer join CBSN's "Red & Blue" anchor Elaine Quijano to discuss the latest.
President Biden announced he will release 1 million barrels of oil from the Strategic Petroleum Reserve every day through October to combat rising gas prices and inflation. Analysts say this will result in a moderate drop in prices ahead of increased summer demand. CBS News transportation correspondent Errol Barnett reports from Maryland.
The president criticized oil companies for failing to produce what the country needs, while sitting on "record profits."
Reports that the U.S. will release more crude from the nation's Strategic Petroleum Reserve could ease prices at the pump.
As Iran threatens to mine the entire Persian Gulf, President Trump says his deadline for the Strait of Hormuz to reopen is postponed amid negotiations with Tehran.
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U.S. officials say assessments show at least a dozen Iranian mines in the Strait of Hormuz as President Trump backs off his threat to target Iran's energy infrastructure over claims of productive peace talks
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Senate talks aimed at ending the 38-day DHS shutdown hit a new roadblock after President Trump called on Republicans to hold out for passage of the SAVE America Act.
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Senate talks aimed at ending the 38-day DHS shutdown hit a new roadblock after President Trump called on Republicans to hold out for passage of the SAVE America Act.
U.S. officials say assessments show at least a dozen Iranian mines in the Strait of Hormuz as President Trump backs off his threat to target Iran's energy infrastructure over claims of productive peace talks
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U.S. officials say assessments show at least a dozen Iranian mines in the Strait of Hormuz as President Trump backs off his threat to target Iran's energy infrastructure over claims of productive peace talks
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In 2005, the "Friends" star played Valerine Cherish, a washed-up sitcom actress, in the HBO comedy "The Comeback." The show was cancelled, but it earned a cult following, and returned in 2014. Now, "The Comeback" is itself making a comeback.
In this web exclusive, Emmy-winning actress Lisa Kudrow talks with Tracy Smith about "Friends," and her HBO show "The Comeback."
"Friends" star Lisa Kudrow played a washed-up sitcom actress, Valerie Cherish, in the 2005 HBO comedy "The Comeback." The show was cancelled, but it earned a cult following, and then returned in 2014. Now, "The Comeback" is itself making a comeback for a third season. Kudrow talks with correspondent Tracy Smith about her love for playing Phoebe Buffay; her aptitude for "cringe comedy"; and how she found solace following the death of "Friends" castmate Matthew Perry.
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President Trump on Monday postponed his deadline for Iran to reopen the Strait of Hormuz. Mr. Trump had threatened strikes against Iranian power plants if the strait wasn't opened by Monday night. CBS News national security analyst Aaron MacLean joins with more.
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