Chevron says Venezuelan oil imports are helping curb U.S. gas prices

Chevron’s stepped-up imports of Venezuelan oil are helping ease fuel prices for U.S. consumers, according to a senior executive with the energy giant. Andrew Walz, Chevron’s president of global refining,…

Prolonged Strait of Hormuz closure would cause oil prices to surge, experts warn

Traffic through the Strait of Hormuz, the Persian Gulf waterway that serves as a key artery for global oil shipments, has been dramatically curtailed since the Iran war began. The…

Here's what needs to happen before oil starts flowing through Strait of Hormuz again

As the U.S.-Iran war nears the one-month mark, the fragile global oil market has emerged as a key leverage point for Iran — and some shipping and insurance experts don’t…

CBS News gas and oil price tracker shows how much energy costs are rising

The war with Iran is pushing up oil and gas prices, creating widespread financial strain on U.S. motorists, food delivery drivers, farmers as well as the U.S. Postal Service.  Analysts say prices are…

U.S. shoppers should brace for impact of higher oil prices, experts say

For U.S. consumers, soaring oil prices due to the Iran war don’t just mean pain at the pump — the impact is also likely to be felt by shoppers both…

Analysts warn oil prices could keep climbing as Iran war intensifies

Intensifying violence in the Middle East could send oil prices careening above their all-time high, raising the risk of higher inflation and slower economic growth, experts said. “The biggest hit will…

Trump releasing 172 million barrels of oil from reserve as prices soar

President Trump ordered the release of 172 million barrels of oil from the United States’ Strategic Petroleum Reserve on Wednesday, after oil prices rocketed to their highest levels in years…

Here's how much Americans are paying for gas as oil prices spike

Gasoline prices in the U.S. continued climbing on Monday after the U.S.-Israeli war with Iran temporarily pushed oil prices above $100 per barrel, the highest since 2022. The average national cost of…

Oil prices continue to climb, hitting highest level in nearly 2 years

The price of oil continued to surge on Friday amid growing concerns that the Iran war will disrupt global crude supplies.  West Texas Intermediate (WTI), the U.S. oil benchmark, rose 6.8% to…

U.S. seizes a seventh Venezuelan-linked oil tanker in Caribbean

The United States on Tuesday morning seized another oil tanker linked to Venezuela, U.S. Southern Command said, its seventh such seizure. U.S. forces “apprehended Motor Vessel Sagitta without incident,” U.S. Southern…

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