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By Anushree Ashish Mukherjee China sharply cut crude imports and demand, reducing pressure on global oil markets U.S. boosted output and released Strategic Petroleum Reserve crude June reopening of Strait of Hormuz eased immediate supply fears July 20 (Reuters) – As the United States and Israel went to war with Iran at the end of …
Why Oil Prices Haven’t Gone Crazy Despite 5 Months of US-Iran War Read More »
By Nicole Jao National average pump price $3.84/gallon, up 9.8 cents in a week Gasoline prices surged along with crude after truce collapsed Fewest tankers in two months transit the Strait of Hormuz NEW YORK, July 14 (Reuters) – Americans could soon see gasoline prices top $4 a gallon again as renewed hostilities between the …
US Drivers May Soon See Pump Prices Climb Back Up to $4 Read More »
By API – American Petroleum Institute The situation in the Middle East remains highly uncertain with renewed escalation, and energy markets continue to respond to each new development. Over the past several weeks, crude oil and gasoline prices have swung sharply higher and lower as markets reassess evolving geopolitical risks. Yet despite those twists and turns …
Summary AAA data showed average US gasoline prices rose 6 cents this week to $3.88 a gallon Friday Refinery outages in Russia and the United States are squeezing fuel supplies EIA data showed US petroleum products exports hit a weekly record 8.7 million bpd (Reuters) – U.S. drivers have seen gasoline prices climb again …
US Pain at the Pump Worsens After More US-Iran Fighting Lifts Oil Prices Read More »
(Reuters) – Gasoline and diesel markets are signalling a fuel supply crunch despite relatively subdued crude oil prices, suggesting the energy shock from the Iran war may be far from over. Energy prices surged after the U.S.-Israeli war on Iran led to the effective closure of the Strait of Hormuz, which carried about a fifth …
Fuel Markets Flash Supply Crunch Despite Calmer Oil Prices Read More »
By David Shepardson WASHINGTON, July 7 (Reuters) – Fuel costs for U.S. airlines jumped 85% in May to nearly $6.7 billion as the Middle East conflict drove up prices, the U.S. Transportation Department said on Monday. Airlines spent $3.62 billion on fuel in May 2025, compared with $6.66 billion in the same month this year. …
US Airlines Fuel Bills Rose by $3 Billion in May Read More »
(Reuters) – Americans are revving up for the Fourth of July holiday, undeterred by gasoline prices that remain elevated and well above historical levels. The easing of tensions between the U.S. and Iran has provided some relief at the pump, reducing fears that disruptions to oil shipments through the Strait of Hormuz could send fuel …
Americans Hit Road for July 4 Despite High Gasoline Prices Read More »
U.S. President Donald Trump said on Monday gasoline retailers must get prices down immediately and warned that there will be “big problems” ahead if they did not do so. Here are details: * “Gasoline Retailers must get their Prices down, IMMEDIATELY,” Trump wrote on Truth Social. * “There will be no gauging, which is …
Trump Urges Gasoline Retailers to Lower Prices, Warns of ‘Big Problems’ If They Don’t Read More »
Diplomacy between the U.S. and Iran has translated into relief at the pump for Americans, data showed on Monday, with gasoline prices falling for a sixth straight week and marking a 15% drop from their May peak. The national average price of gasoline fell 14.1 cents a gallon over the last week to $3.85 per …
US Gasoline Prices Tumble for Sixth Straight Week Read More »
LONDON, June 12 (Reuters) – Britain on Friday said that a full ban on diesel and jet fuel made in Russia would happen by 2027 as it set out its timeline to end a temporary licence for Russian oil products. Britain last month said it would continue to allow imports of diesel and jet fuel …
Britain Says Full Import Ban on Russian Diesel, Jet Fuel Will Happen by 2027 Read More »
