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.
President Trump had accused the Treasury Department and IRS of unlawfully allowing a government contractor to leak his tax returns and those of his sons and company.
Police said officers responded to a reported active shooter at the Islamic Center of San Diego on Monday.
President Trump had warned Sunday that "the Clock is Ticking" for Iran to accept a peace agreement.
The jury dismissed all charges due to the statute of limitations.
An American medical missionary in the Democratic Republic of the Congo has a confirmed case of Ebola, and is being taken to Germany for treatment.
A New York judge ruled Monday on whether evidence found in Luigi Mangione's backpack during his arrest can be used during his state trial.
At issue in the cases was who can bring lawsuits in federal court to address potential violations of Section 2 of the Voting Rights Act.
Italy's Foreign Ministry said Monday rescuers have located the bodies of four Italian divers who were believed to be deep inside an underwater cave in a Maldive atoll.
The Mountain Home Air Force Base in Idaho was locked down following the midair crash during the Gunfighter Skies Air Show.
Police said officers responded to a reported active shooter at the Islamic Center of San Diego on Monday.
An American medical missionary in the Democratic Republic of the Congo has a confirmed case of Ebola, and is being taken to Germany for treatment.
California jury dismissed all charges, finding that Musk missed the three-year statute of limitations to file suit.
The Trump administration announced it's restricting people who don't have U.S. passports from entering the country if they have been in Congo, South Sudan or Uganda amid the Ebola outbreak.
A mother and daughter hid in the basement of the home they moved into just two weeks ago when a destructive tornado tore across their Nebraska community.
California jury dismissed all charges, finding that Musk missed the three-year statute of limitations to file suit.
The combined company will serve about 10 million utility customers across Florida, Virginia, North Carolina and South Carolina.
Accessory Dwelling Units, or ADUs, are small, fully-functional secondary homes located on the same property as a main home, usually in the backyard, filling a vital need where housing has proved scant or expensive.
Gas prices, inflation weigh on Americans. Many see lack of clarity on what's happening in Iran.
No injuries have been reported because of the issue, the Food and Drug Administration said.
President Trump said he received a request from the leaders of Qatar, Saudi Arabia and the United Arab Emirates.
The Trump administration announced it's restricting people who don't have U.S. passports from entering the country if they have been in Congo, South Sudan or Uganda amid the Ebola outbreak.
The Trump administration has placed intense pressure on Cuba's communist leadership.
At issue in the cases was who can bring lawsuits in federal court to address potential violations of Section 2 of the Voting Rights Act.
President Trump had accused the Treasury Department and IRS of unlawfully allowing a government contractor to leak his tax returns and those of his sons and company.
An American medical missionary in the Democratic Republic of the Congo has a confirmed case of Ebola, and is being taken to Germany for treatment.
The virus behind the latest Ebola outbreak is the Bundibugyo virus, which is less common and there is no vaccine or treatment.
The Trump administration announced it's restricting people who don't have U.S. passports from entering the country if they have been in Congo, South Sudan or Uganda amid the Ebola outbreak.
A CBS News investigation into youth residential treatment programs finds allegations of abuse, a lack of federal oversight, and families left to navigate a multibillion-dollar industry largely on their own.
The cruise ship hit by a deadly hantavirus outbreak has docked at the Dutch port of Rotterdam for disinfection, wrapping up a troubled journey that put world health authorities on alert.
President Trump said he received a request from the leaders of Qatar, Saudi Arabia and the United Arab Emirates.
A man armed with a rifle carried out a string of attacks, killing at least six people and wounding eight others, Turkish President Recep Tayyip Erdogan said.
An American medical missionary in the Democratic Republic of the Congo has a confirmed case of Ebola, and is being taken to Germany for treatment.
A truck driver was sentenced to over 13 years in prison for smuggling $9.4 million worth of cocaine in a shipment of Skims, Kim Kardashian's shapewear brand.
The virus behind the latest Ebola outbreak is the Bundibugyo virus, which is less common and there is no vaccine or treatment.
Rob Cesternino, a 2-time "Survivor" castaway, talks about the upcoming "Survivor 50" finale, who he think will make the final three and who is his favorite to win the game.
Golden Globe-nominated actor Hayden Panettiere shares her story and opens up about life in the spotlight as a young actor, postpartum depression and her healing journey.
Jane Pauley hosts our annual look at design. Featured: Tiny homes in your backyard; Louis Vuitton; Adobe house construction; Finland's Marimekko; domino art; Philadelphia food favorites; chandeliers; Longwood Gardens; rare maps; and director Jon Favreau of "The Mandalorian and Grogu."
"Call Her Daddy" host Alex Cooper said on Instagram that she and husband Matt Kaplan are expecting their first child.
Jon Favreau, creator of the "Star Wars" series "The Mandalorian," has now brought the father-son relationship of Pedro Pascal's bounty hunter and his charge "Baby Yoda" to the big screen.
California jury dismissed all charges, finding that Musk missed the three-year statute of limitations to file suit.
A nine-person jury will begin deliberations Monday in Elon Musk's $150 billion civil lawsuit against OpenAI CEO Sam Altman. Rachel Metz, artificial intelligence reporter for Bloomberg, joins with more.
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.
For thousands of years, civilizations around the world have built houses out of earth – whether it be mud brick, wattle and dab or rammed earth. But adobe (the practice of making mudbricks) has now become today's "it" building material, from museums around the world designed using adobe, to do-it-yourselfers constructing homes from the very dirt beneath their feet. Correspondent Conor Knighton looks at the history of adobe, and how ancient adobe materials are being merged with 3-D printing techniques.
Atlanta residents say they're waking up to traffic jams of self-driving Waymo vehicles confused by neighborhood signage.
The upcoming El Niño could trigger frequent and widespread flooding in coastal areas around the United States, even when storms aren't actively taking place, scientists warn.
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.
An active shooter has been reported at the Islamic Center of San Diego. CBS affiliate KFMB reports.
Police are responding to a reported active shooter at the Islamic Center of San Diego. CBS affiliate KFMB reports.
A man armed with a rifle carried out a string of attacks, killing at least six people and wounding eight others, Turkish President Recep Tayyip Erdogan said.
Three people are in custody for a dozen random shootings around Austin, Texas, on Sunday, police said. Four people were injured in the mayhem, police said. CBS News' Ian Lee has more on how the community is reacting.
A truck driver was sentenced to over 13 years in prison for smuggling $9.4 million worth of cocaine in a shipment of Skims, Kim Kardashian's shapewear brand.
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.
An active shooter has been reported at the Islamic Center of San Diego. CBS affiliate KFMB reports.
Police are responding to a reported active shooter at the Islamic Center of San Diego. CBS affiliate KFMB reports.
A wildfire in California's Simi Valley forced evacuations Monday. CBS Los Angeles had on the ground coverage.
Pennsylvania voters will head to the polls Tuesday for primary elections. CBS News' Taurean Small has a look at the races.
CBS News investigated what critics referred to as the "troubled teen" industry. CBS News national consumer correspondent Ash-Har Quraishi has a look at what was found.