Finance ministers say they will monitor the market situation and might release strategic reserves if necessary to support global supply
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Finance ministers say they will monitor the market situation and might release strategic reserves if necessary to support global supply
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The U.S. and the International Energy Agency are releasing oil from their reserves as the average price of a gallon of gas in the U.S. has jumped 15% since the Iran war began. Kelly O'Grady explains if the moves will…
The US has expanded a temporary sanctions waiver on the purchase of stranded Russian oil from India alone to all countries worldwide as part of ongoing efforts to ease pressure on global energy prices.
Iran appeared to have set ablaze two tankers in Iraqi waters as it stepped up attacks on oil and transport facilities across the Middle East, sending oil prices soaring again on Thursday.
The dollar touched its highest level in two months on Friday, as elevated oil prices sparked worries over inflation and the war in Iran showed no signs of winding down.
Brent crude traded near $100 a barrel following one of the most volatile weeks ever for the oil market, with investors bracing for more upheaval as Iran pledged to keep the vital Strait of Hormuz effectively shut.
The UAE says more than 1,800 drones and missiles have been projected at the country since the war began.