US Gasoline Prices Surpass $3.50 a Gallon at the Pumps as Iran War Rages On

The national average retail price of gasoline crossed $3.50 a gallon this week to hit its highest since May 2024, data from price tracking services AAA and GasBuddy showed, as…

COMMENTARY: Historic Oil Reserve Release is Only a Band-Aid on a Gaping Supply Shock

By LONDON, March 11 (Reuters) – The International Energy Agency’s plan to release 400 million barrels of oil reserves is unprecedented in scale and desperately needed to blunt the devastating…

Trump Announces New US Refinery Backed By India’s Reliance

By and India’s Reliance to invest in refinery, buy output Deal likely to reduce trade deficit with India Fuel prices spike as US, Israel attack Iran HOUSTON, March 10 (Reuters)…

COMMENTARY: Iran War Shatters Trump’s Case for Fossil Fuels

By LONDON, March 11 (Reuters) – The economic risks of the world’s heavy dependence on oil and gas have been laid bare twice in four years – first with Russia’s…

COMMENTARY: The Dangerous Politics of US Oil-Driven Redistribution

By LONDON, March 11 (Reuters) – U.S. stock market indexes have weathered this month’s oil shock well so far because investors expect only a glancing overall GDP hit from higher…

Activist Shareholders Challenge BP on Rejected Climate Resolution

Green activist investor Follow This has vowed to fight BP in court after the supermajor did not include a Follow This-led resolution to explain how the company takes investment decisions…

G7 Backs Oil Reserves Release to Curb Middle East Supply Crunch

The G-7 group of the world’s most advanced economies support in principle the idea to release strategic petroleum reserves to calm the market as supply from the Middle East is…

Shell and TotalEnergies Issue Force Majeure After Qatar LNG Shut Down

Several major energy traders have begun declaring force majeure to their own customers after Qatar’s LNG shutdown rippled through global gas markets, according to Reuters sources on Wednesday. Companies including…

EU Mulls Capping Gas Price as Energy Costs Spike on Iran War

The European Union is considering emergency relief measures in the wake of the energy price spike amid the Middle East war, including capping the price of natural gas, European Commission…

Aramco Asks Asian Buyers for Dual Red Sea-Hormuz Oil Supply Plans

Saudi Arabia’s oil giant Aramco is requesting from Asian buyers to nominate crude loading plans for April for both its key export port in the Gulf and the export alternative…