oil prices

Stories 1 - 20 |  Next >>

Hegseth: Khamenei Is 'Wounded,' 'Likely Disfigured'

As Trump says Iran's new leader is 'damaged,' 'probably alive in some form'

(Newser) - Iran's new supreme leader is alive but apparently not unscathed, according to top US officials. Defense Secretary Pete Hegseth said Mojtaba Khamenei has been injured in the ongoing US-Israeli campaign, telling reporters the "so-called, not-so-supreme leader is wounded and likely disfigured." He added that Washington is "on plan to defeat,...

Trump Temporarily Eases Russian Oil Sanctions

Bessent calls it a 'narrowly tailored, short-term measure,' downplays benefit to Moscow

(Newser) - Washington just handed Moscow a 30-day ticket to cash in on oil stuck at sea. The Trump administration eased sanctions Thursday to let an estimated 128 million barrels of Russian crude already loaded on previously blacklisted tankers be sold worldwide, a move officials say is aimed at cooling surging energy...

Analysis: Prepare for 'Prolonged' Hormuz Shutdown

US reluctance to escort tankers results in standstill, with no solution in sight

(Newser) - Oil isn't just flowing more slowly out of the Persian Gulf—it's barely moving at all, and nobody's sure when that might change. Intensifying Iranian strikes in and around the Strait of Hormuz, combined with a US reluctance to send in warship escorts, have effectively frozen traffic...

US to Tap Oil Reserves Following Trump's '180'

Release of 172M barrels aims to ease war-driven price spike and reassure markets

(Newser) - President Trump is cracking open the nation's oil piggy bank, despite opposition to a similar move by President Biden. The Trump administration will release 172 million barrels from the Strategic Petroleum Reserve in a push to cool surging prices tied to the US war with Iran and attacks on tankers...

Oil Price Soars Past $100 Again
Oil Soars Past
$100 a Barrel Again
Mar 12, 2026 1:00 AM CDT

Oil Soars Past $100 a Barrel Again

Traders question helpfulness of IEA reserve release amid protracted Middle East war

(Newser) - Oil traders got a record-breaking promise of relief—but apparently fear it may not be enough . Crude prices spiked more than 8% on Thursday, pushing global benchmark Brent back to $100 a barrel, even after governments pledged the largest emergency oil release ever coordinated by the International Energy Agency, CNBC...

400M Barrels of Oil Is a Lot, but Maybe Not Enough

Impact on global fuel prices during war could be limited, experts suggest

(Newser) - Oil's emergency parachute was just yanked, but no one's sure how much softer the landing will be. The Guardian 's Heather Stewart reports that the International Energy Agency is coordinating its biggest-ever drawdown of emergency oil reserves: 400 million barrels , roughly a third of members' government stockpiles,...

IEA Weighs Record Oil Reserve Release to Counter Supply Shock
IEA OKs Historic Oil
Release Amid Iran War
UPDATED
Mar 11, 2026 10:25 AM CDT

IEA OKs Historic Oil Release Amid Iran War

400M barrels easily top 182M released after Russia's 2022 invasion of Ukraine

(Newser) - The International Energy Agency said Wednesday its 32 member nations will jointly release 400 million barrels from strategic stockpiles to blunt the energy shock from the war in Iran. That's its biggest coordinated drawdown on record and only the sixth such move. IEA chief Fatih Birol called it a...

One Critical Island Remains Off-Limits in US Strikes on Iran

Fears of oil shock, long-term instability deter strike on terminal that handles 90% of Iranian oil exports

(Newser) - One island in the Persian Gulf has become the target many hawks talk about—but no one has yet dared to hit. As the Guardian reports, Kharg Island, a five-mile-long coral outpost that handles roughly 90% of Iran's oil exports, has so far been spared in the US-Israel air...

Wall Street Closes Higher After Erasing Big Loss
Stocks Bounce Back After
Trump Remarks on War
MARKETS
Mar 9, 2026 3:54 PM CDT

Stocks Bounce Back After Trump Remarks on War

Oil prices drop after Trump says Iran war is 'very complete, pretty much'

(Newser) - The US stock market careened through a manic Monday, going from a steep early loss to a solid gain as worries turned into hope that the war with Iran may not last that long. Oil prices whipped from nearly $120 per barrel , their highest since 2022, back toward $90.
  • The
...

It's the 'Biggest Disruption in World History' of Oil

Wall Street Journal analysis looks at the unprecedented 'squeeze' now underway

(Newser) - The Wall Street Journal pulls back for a 30-000-foot view of the Iran war's effect on the world's energy supply, under the sobering headline, "The Long-Feared Persian Gulf Oil Squeeze Is Upon Us." Tehran has essentially closed the Strait of Hormuz, meaning no crude is getting...

Oil Soars Past $100 as Iran War Continues
Oil Surges Past $100,
Rattles Markets
UPDATED
Mar 9, 2026 6:54 AM CDT

Oil Surges Past $100, Rattles Markets

Rising crude prices stoke economic fears and market volatility

(Newser) - Oil just blew past a line many on Wall Street hoped wouldn't be crossed—$100 a barrel— and stock futures were reacting fast, CNBC reports. Before Monday's opening bell, Dow futures were down about 600 points, or about 1.2%, with the S&P 500 and Nasdaq 100...

Oil Surges Past $90 as Iran War Rattles Global Markets

Traders fear prolonged supply disruptions as shipping in Strait of Hormuz stalls

(Newser) - Oil is suddenly looking a lot more expensive—and investors are taking notice. US crude jumped nearly 9% Friday to top $88 a barrel, while Brent crude sailed past $90, putting both on course for their steepest weekly gains since early 2020 as the conflict involving Iran rattles global energy...

Trump Demands Iran's 'Unconditional Surrender'

He says country needs to install 'great and acceptable' leaders

(Newser) - President Trump says peace with Iran comes down to two words: "unconditional surrender." In a Truth Social post Friday morning, Trump declared there would be no agreement to end the US war against Iran unless Tehran fully capitulates and installs new leadership, CNBC reports.
  • "There will be
...

WH Advisers 'Getting Screamed at' Over Gas Prices

Politico: Chief of staff Susie Wiles seeking strategies to ease fuel costs after strikes on Iran

(Newser) - President Trump's chief of staff has put gas prices near the top of the West Wing's to-do list. Two energy executives tell Politico that Susie Wiles has directed advisers to show up in the Oval Office with concrete ideas for bringing down prices at the pump, which have...

Trump Makes Big Move on Strait of Hormuz

He says oil tankers will get naval escorts, insurance guarantees

(Newser) - With oil prices rising amid the US-led war on Iran, President Trump has moved to quell fears of an energy crisis. He said Tuesday that the US would provide naval escorts, if necessary, for oil tankers passing through the Strait of Hormuz. Around a fifth of the world's oil...

Get Used to One New Reality: Rising Gas Prices

They jump 11 cents overnight to $3.11 per gallon, as crude oil jumps, too

(Newser) - Drivers who track gas prices are in for an unpleasant surprise: The average cost of a gallon in the US rose 11 cents overnight to $3.11, reports the AP , citing data from the motor club AAA. The reason is no surprise: The Mideast is now engulfed in war , which...

Strait of Hormuz Showdown Could Be a 'Historic' One

Traffic through key waterway has ground to a halt, with higher oil prices looming

(Newser) - Oil tankers are all but sidelined in one of the world's most important energy conduits. Traffic through the Strait of Hormuz has plunged since US and Israeli strikes began on Iran , as ship operators steer clear of the narrow passage that usually carries about a fifth of the world'...

Rubio: We Have a Plan to Counter Oil Price Spike

Officials to roll out phased response as Iran tensions escalate, he says

(Newser) - Washington says it has a playbook ready as oil prices jump amid the US-Iran conflict, Politico reports. Secretary of State Marco Rubio said Monday the Trump administration will start rolling out a plan Tuesday aimed at easing the spike in crude prices that followed US strikes on Iran and retaliatory...

New Poll: Most Americans Oppose Iran Strikes

Poll finds many view Trump as too eager for military action

(Newser) - Americans are mostly lukewarm—or outright opposed—to Washington's latest show of force against Iran. A new Reuters/Ipsos poll finds just 27% back the US strikes that killed Iran's leader, while 43% disapprove and 29% aren't sure. The survey, conducted as US and Israeli strikes were underway...

Oil Prices Surge More Than 8% on Fears of Iran War

Traders eye Hormuz choke point as tankers halt amid strikes

(Newser) - Oil traders jolted awake Sunday night as crude prices leapt more than 8% on fears that a widening US-Iran conflict could choke a crucial energy artery, CNBC reports. By early evening, US benchmark West Texas Intermediate was up $5.55 at $72.57 a barrel, while global benchmark Brent crude...

Stories 1 - 20 |  Next >>
Most Read on Newser