President Donald Trump acknowledged Wednesday that banning diesel exports, an idea he’s been floating as a fix for record fuel prices, could actually backfire by pushing gasoline costs higher, even as he declined to take the proposal off the table. Speaking to reporters in the Oval Office, Trump said the administration discusses the pros and … Read more
IEA Chief Says Member States Stand Ready to Discuss More Oil Reserve Releases if Needed As oil prices climb back toward levels not seen since the spring, the head of the International Energy Agency has reiterated that its 32 member countries remain prepared to discuss another coordinated release of strategic reserves, even though no such … Read more
Newly released satellite imagery has revealed the scale of destruction at Saudi Arabia’s East-West pipeline, the kingdom’s primary route for moving crude oil away from the increasingly dangerous Strait of Hormuz, after a drone strike forced Riyadh to shut down the roughly 750-mile line entirely. The images, captured over the weekend and published through outlets … Read more