President Biden is set to order the release of as much as 1 million barrels of oil a day from the nation’s strategic oil reserves in an attempt to gain some control over spiking energy prices in the U.S.
The United States on Wednesday announced sanctions against Iranian defense companies after a spate of ballistic missile attacks on targets in Iraq, Saudi Arabia, and the United Arab Emirates.
The White House has rushed to deny that U.S. President Biden called for regime change when saying Vladimir Putin “cannot remain in power.” The president made the remarks in Poland where he ended his tour to Europe to discuss the Russian invasion of Ukraine.
Russia’s war in Ukraine could mean changes for Ed Kessel’s farm along a quiet stretch of western North Dakota.
Russia’s invasion of Ukraine has thrown the global energy market into a state of turmoil, forcing the U.S. and Europe to look for substitutes for Russian oil and gas. In that process, the Biden administration has turned to Iran as a potential supplier — just two months after effectively killing an Israeli pipeline project that would have supplied natural gas to Europe.
The International Monetary Fund (IMF) has warned that the war in Ukraine will undermine the global economy as it leads to record prices of food and energy and surging inflation.
Hundreds of thousands of Hungarians gathered for rival rallies in Budapest, overshadowed by concerns over who should lead the nation after the April 3 elections with a raging war in neighboring Ukraine.
Saudi Arabia is in active talks with Beijing to price some of its oil sales to China in yuan, people familiar with the matter said, a move that would dent the U.S. dollar’s dominance of the global petroleum market and mark another shift by the world’s top crude exporter toward Asia.
Ukraine’s government says it has raised some $106 million in global donations in cryptocurrency for its army. At the same time, nations rush to launch their digital currencies as an alternative to the U.S. dollar.
Ukrainian President Volodymyr Zelensky accused Russia of genocide after a Russian airstrike hit a children’s hospital in Ukraine’s besieged southern city of Mariupol.
In a sign of what his critics view as weak leadership, U.S. President Joe Biden could not get key Middle East leaders on the phone to talk about rising oil prices, several sources confirm.
Ukrainian President Volodymyr Zelensky gave mixed messages Tuesday, telling British legislators his nation would fight against Russia after admitting he no longer seeks membership of the NATO military alliance.
At least two Americans imprisoned in Venezuela have reportedly been released in what appears to be a sign that the Biden administration is making headway in negotiating an oil deal to ward off rising gas prices as the United States moves to ban imports of Russian oil.
North Dakota can produce enough crude oil to offset dependence on Russian imports, but the Biden administration is prohibiting it from doing so, the state’s governor and U.S. senators argue.
Europe’s natural gas shortage, which has pushed prices to multi-year highs, has revived talk of the EastMed pipeline – a Mediterranean Sea pipeline that could carry gas from Israel to European customers, Chevron Chief Executive Michael Wirth said on Monday at the CERAWeek energy conference.
British Defense Secretary Ben Wallace says Russia is getting “desperate” as its forces take heavy casualties in Ukraine, including generals and other senior officers.
The White House on Monday pushed back on concerns about the Biden administration’s willingness to cut deals with countries like Saudi Arabia, Iran and Venezuela as it looks for ways to blunt skyrocketing fuel prices in the United States.
Russia said Monday it would halt fire to allow civilians in the capital Kyiv and other Ukrainian cities to escape after being accused of shelling civilian targets in deadly attacks.
U.S. crude oil surged more than 8% in early trading on Sunday evening as the market continued to react to supply disruptions stemming from Russia’s ongoing invasion of Ukraine and the possibility of a ban on Russian oil and natural gas.
The UN General Assembly voted overwhelmingly on Wednesday to adopt a resolution condemning Russia’s invasion of Ukraine, with Israel joining 140 other countries in the 193-member body to demand that Moscow immediately withdraw its forces from the soil of its sovereign neighbor.