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.
Incumbent GOP Sen. Bill Cassidy, who had occasionally broken with the Trump administration, lost his bid for a third term.
At least 80 deaths have been reported in Congo's new Ebola disease outbreak in the eastern Ituri province, authorities said.
Two days of talks in Washington between Lebanon and Israel produced an extension of the current ceasefire by 45 days.
Police estimated that around 60,000 people attended the "Unite the Kingdom" march, making it one of the largest right-wing mobilizations seen in Britain in recent years.
FIFA President Gianni Infantino joked that if someone does pay $2 million for a ticket to the World Cup final, "I will personally bring him a hot dog and a Coke."
Russia's Putin will travel to Beijing next week to meet China's Xi. The announcement came one day after President Trump returned from his own summit with the Chinese leader.
Approximately 40 million people across the West depend on the Colorado River for water every single day. But the region could soon face drastic measures as the river keeps shrinking.
Venezuela's government says it has deported a close ally of Nicolás Maduro to face judicial proceedings in the U.S. less than three years he was pardoned by President Joe Biden.
Iran and the U.S. cut diplomatic ties in 1980, and the players are expected to use their time in Turkey to complete the necessary procedures for obtaining visas.
In New Mexico, a man is charged with forgery & larceny – and convicted of putting out a hit on his estranged wife. Twenty-six years earlier, a fire in Monaco kills a billionaire and his private nurse. At the center of that mystery was the very same man — with a different name.
Incumbent GOP Sen. Bill Cassidy, who had occasionally broken with the Trump administration, lost his bid for a third term.
"Survivor" 48 and 50 contestant Joe Hunter believes his sister Joanna, whose death was ruled a suicide, was murdered. He and their mother are working to be Joanna's voice and advocate for others who have experienced domestic violence.
FIFA President Gianni Infantino joked that if someone does pay $2 million for a ticket to the World Cup final, "I will personally bring him a hot dog and a Coke."
Approximately 40 million people across the West depend on the Colorado River for water every single day. But the region could soon face drastic measures as the river keeps shrinking.
No injuries have been reported because of the issue, the Food and Drug Administration said.
President Trump's trip to China could bolster economic relations, but failed to deliver a breakthrough deal, some trade and energy experts said.
College grads outearn people without a degree within 15 years, even after paying for tuition, study finds.
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 has filed a lawsuit against Roblox, making it the latest state to take legal action against the popular gaming platform over child safety concerns.
Incumbent GOP Sen. Bill Cassidy, who had occasionally broken with the Trump administration, lost his bid for a third term.
Police estimated that around 60,000 people attended the "Unite the Kingdom" march, making it one of the largest right-wing mobilizations seen in Britain in recent years.
Russia's Putin will travel to Beijing next week to meet China's Xi. The announcement came one day after President Trump returned from his own summit with the Chinese leader.
Rep. Julia Letlow, who was backed by President Trump in the primary against incumbent Sen. Bill Cassidy, has advanced to a runoff in the Louisiana Republican primary for Senate.
President Trump announced Friday evening that U.S. and Nigerian military forces had killed Abu-Bilal al-Minuki, a leader in the Islamic State group.
Genomic analysis showed the virus found aboard the MV Hondius shows no evidence of new characteristics so far.
At least 80 deaths have been reported in Congo's new Ebola disease outbreak in the eastern Ituri province, authorities said.
Tommy Bell thought he was in good shape. But a series of heart attacks painted a more complicated picture.
A New York doctor who contracted and survived Ebola more than a decade ago says he is worried for healthcare workers who are at the center of treating the latest outbreak.
Dr. Tracy Beth Høeg, leader of the Food and Drug Administration division responsible for regulating prescription and over-the-counter drugs, is leaving her post, a senior FDA official confirmed.
Iran and the U.S. cut diplomatic ties in 1980, and the players are expected to use their time in Turkey to complete the necessary procedures for obtaining visas.
This year's field of 35 contestants is the smallest since 2003.
Police estimated that around 60,000 people attended the "Unite the Kingdom" march, making it one of the largest right-wing mobilizations seen in Britain in recent years.
Colombia's presidential elections are scheduled for May 31, marking the end of the term for Gustavo Petro, the country's first leftist president.
At least 80 deaths have been reported in Congo's new Ebola disease outbreak in the eastern Ituri province, authorities said.
"Survivor" 48 and 50 contestant Joe Hunter believes his sister Joanna, whose death was ruled a suicide, was murdered. He and their mother are working to be Joanna's voice and advocate for others who have experienced domestic violence.
This year's field of 35 contestants is the smallest since 2003.
The "Survivor" season 50 finale premieres on Wednesday, and "CBS Saturday Morning" meets Sarah Polakiewicz, a "Survivor" superfan in Atlanta who built her own community around the show.
Kelly Reilly, Cole Hauser, and Finn Little of "Dutton Ranch" sit down with "CBS Saturday Morning" to discuss their characters' transitions from Montana to Texas, and more on the new "Yellowstone" spinoff.
Five-time Grammy winner and blues legend Taj Mahal is best known for hits like "Corinna" and "Statesboro Blues," and has collaborated with The Rolling Stones and Eric Clapton during his career that spans six decades. His latest album, "Time," was recorded with his long-time bandmates "The Phantom Blues Band." Here's Taj Mahal performing "Time."
Atlanta residents say they're waking up to traffic jams of self-driving Waymo vehicles confused by neighborhood signage.
Atlanta residents woke up to Waymo traffic jams on Friday. The driverless cars took over a quiet cul-de-sac. Skyler Henry has more details.
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.
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.
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.
The long-necked herbivore is the largest ever found in Southeast Asia, researchers said.
The last time an El Niño pattern occurred was in 2023, when the Eastern Pacific hurricane season produced 20 tropical systems.
NASA's Psyche spacecraft will slingshot past Mars on Friday, on its way toward a rare metal-rich asteroid.
Greater protections for endangered emperor penguins and how to manage growing tourism are topping the agenda at talks on Antarctica in Japan.
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.
In New Mexico, a man is charged with forgery & larceny – and convicted of putting out a hit on his estranged wife. Twenty-six years earlier, a fire in Monaco kills a billionaire and his private nurse. At the center of that mystery was the very same man — with a different name.
"Survivor" 48 and 50 contestant Joe Hunter believes his sister Joanna, whose death was ruled a suicide, was murdered. He and their mother are working to be Joanna's voice and advocate for others who have experienced domestic violence.
Mohammad Baqer Saad Dawood Al-Saadi, an Iraqi national, is facing federal charges for his alleged terror plots targeting Jewish institutions around the U.S.
A terror plot targeting Jewish institutions in New York, California and Arizona has been foiled, and a man linked to the alleged scheme is under arrest on Friday. Prosecutors say the Iraqi suspect is tied to other global attacks and claim he wanted payback for the U.S. and Israeli war on Iran. Tom Hanson reports.
An Iraqi national was arrested and charged with planning to carry out several terror attacks in the U.S., including at a New York City synagogue and other prominent Jewish centers in Los Angeles and Scottsdale, Arizona. CBS News' Anna Schecter reports.
The International Space Station-bound SpaceX Cargo Dragon is loaded with 6,500 pounds of needed equipment, research gear and crew supplies.
Researchers expected to find "a gradual increase in artificial light at night," but instead saw "much more nuanced patterns," NASA said.
NASA's Psyche spacecraft will slingshot past Mars on Friday, on its way toward a rare metal-rich asteroid.
NASA's Apollo 17 crew reported seeing three mysterious dots and sparks that resembled fireworks, according to new files released by the Pentagon.
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."
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Does the evidence show a cover-up, or was Todd Kendhammer wrongfully convicted for the murder of his wife?
Christy Salters-Martin dominated in the boxing ring but faced her toughest challenger at home.
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
After a conviction in the arson death of a billionaire in Monaco, Ted Maher changes his name and puts out a hit on his estranged wife in New Mexico. He denies it all. "48 Hours" correspondent Erin Moriarty reports.
A "Survivor" contestant believes his sister was murdered and is determined to be her voice. "48 Hours" correspondent Natalie Morales reports.
In Peru, Illinois, the veterans reunite with the vintage warplanes they once flew. Noel Brennan has the story.
Anticipation is building for next month's World Cup Soccer Tournament, and so are costs, for both fans and the host cities. Adam Yamaguchi has more.
The Colorado River is on the brink of disaster. Its water is shared by seven states, which is a big part of the problem. Jonathan Vigliotti reports.