Goldman Sachs is warning that heightened attacks in the Persian Gulf and Red Sea could push global oil prices above $120 a barrel, which would add to the surging fuel costs Americans have faced during the Iran war. The investment bank’s forecast implies a roughly 20% increase in the cost of Brent crude, the international…
Gasoline prices are surging ahead of Labor Day, with AAA predicting travelers will face the highest pump prices on record for the holiday weekend amid ongoing conflict in the Strait of Hormuz. The national average for regular gasoline reached $4.14 a gallon Thursday, up 4 cents from a week earlier, according to AAA data. Diesel averaged…
Chevron said on Wednesday that it plans to invest $7 billion in Venezuela over the next five years and double its oil production in the country after receiving additional acreage in the crude-rich Orinoco Belt region. Chevron, the only U.S. oil company operating in Venezuela, said the investment will allow it to boost production to about…
President Trump has framed last week’s deal for the U.S. government to take a stake in Venezuela’s oil reserves as a boon not just for gas prices, but also for the Strategic Petroleum Reserve, which has dropped to historically low levels. “One of the things I am going to do with the Venezuelan Oil is…
President Trump on Friday said a U.S. deal with Venezuela to tap its oil reserves “will substantially lower Gas Prices for all Americans, long into the future.” With the average U.S. gas price still above $4 a gallon nationwide, American consumers may be wondering if help is on the way. Don’t hold your breath, energy…
The Trump administration’s plan to take a stake in tens of billions of barrels of Venezuelan oil reserves will hinge on a private company called North American Blue Energy Partners, the White House announced Monday, offering more details on the agreement. Under the deal, the Venezuelan government granted 100-year concessions to NABEP to drill in…
President Trump said the U.S. will begin “topping out” its strategic petroleum reserve with Venezuelan oil under last week’s agreement. But that’s unlikely to provide much relief to Americans facing sustained high gas prices. Olivia Gazis has more details on the unprecedented agreement. Source link
In the thick of his competitive reelection race in Michigan, Republican Rep. Tom Barrett joined Health and Human Services Secretary Robert F. Kennedy Jr. at a sprawling 400-acre apple orchard, farm, and winery. They touted Trump administration efforts to improve the American diet, including the removal of some artificial dyes from processed foods. “We had…
President Trump threatened this week to wield an “unprecedented” level of economic warfare against Iran, and Treasury Secretary Scott Bessent vowed to “collapse” the Islamic Republic regime with the “toughest sanctions in history.” But the effectiveness of a bolstered economic campaign against Iran may rest largely on one close U.S. ally in the Persian Gulf,…
Dozens of excavators operate day and night to extract gold from the mountains where villagers and their livestock once roamed. In Afghanistan’s northeastern Badakhshan province, dozens of excavators operate day and night to extract gold from the mountains where villagers and their livestock once roamed. Thousands of miners are deployed across the Shiwa area, about…
