oil prices

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.

Mideast economies take massive hit with oil price crash

By Samya Kullab, Qassim Abdul-Zahra, Associated Press

The historic crash in oil prices in the wake of the coronavirus pandemic is reverberating across the Middle East as crude-dependent countries scramble to offset losses from a key source of state revenue.

The price of oil fell below $0. What happens next?

By Ryan Chilcote

The stuff that makes the world go round, the lifeblood of the global economy, was worthless -- more stunning evidence of how this pandemic is rocking the global economy.