oil prices

OPEC+ makes small trim to world oil supplies as prices fall

By David McHugh, Associated Press

OPEC and allied oil-producing countries, including Russia, have made a small trim in their supplies to the global economy. The move Monday underlines their unhappiness as recession fears help drive down crude prices — and the cost of gasoline, to…

WATCH: Press secretary Karine Jean-Pierre says White House is 'determined' to create Russian oil price cap

By Associated Press

The White House said it is "determined" to implement a global price cap on Russian oil as finance ministers from the G7 industrial powers on Friday pledged to impose such a cap.

Biden affirms human rights commitment even as administration praises Saudi Arabia on oil

By Aamer Madhani, Josh Boak, Associated Press

President Joe Biden says he's not changed his views on human rights despite his administration offering praise of Saudi Arabia for getting OPEC+ to step up oil production.

House approves bill to combat gasoline 'price gouging'

By Matthew Daly, Associated Press

A closely divided House has approved legislation to crack down on alleged price gouging by oil companies as prices at the pump continue to soar.

Biden taps U.S. oil reserves to counter rising gas prices

President Biden announced a historic effort to lower gas prices that have skyrocketed since Russia invaded Ukraine. He said the administration would release 180 million barrels of oil from the Strategic Petroleum Reserve over the next six months. At one…

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Saudi Arabia says it 'won't bear any responsibility' for high oil prices

By Isabel Debre, Associated Press

The unusually stark warning marked a departure from the giant oil producer's typically cautious statements, as Saudi officials remain aware that even their smallest comments can swing the price of oil and rattle global markets.

WATCH: President Biden announces ban on Russian oil for the country's attack on Ukraine

By Zeke Miller, Michael Balsamo, Josh Boak, Associated Press

President Joe Biden announced Tuesday the U.S. will ban all Russian oil imports, toughening the toll on Russia’s economy in retaliation for its invasion of Ukraine, but he acknowledged it will bring costs to Americans, particularly at the gas pump.

Wall Street tumbles after oil prices hit $130 per barrel

By Stan Choe, Associated Press

Stocks are tumbling on Wall Street Monday as another big leap for oil prices threatens to squeeze inflation's grip on the global economy.

Oil prices surge above $100 a barrel as war on Ukraine rages

By Damian J. Troise, Alex Veiga, Associated Press

The price of oil surged back above $100 a barrel after Russia, a major energy producer, faced further isolation and economic damage because of its invasion of Ukraine.

Here's how Russia's invasion of Ukraine could worsen everyday costs in the U.S.

By William Hauk, The Conversation

Americans may be tempted to view the war in Ukraine as an unfortunate, but far away, crisis. But how much worse inflation could get will depend in part on how far Putin goes, and the severity of sanctions.