You can have low gas prices or war in the Middle East, but not both.
Senate Minority Leader Chuck Schumer (D-N.Y.) on Sunday called on President Trump to release oil from the national stockpile to counter soaring gas prices — an idea that Republicans have been slow to embrace.Why it matters: Tapping the Strategic Petroleum Reserve (SPR) could deprive Republicans of a talking point: That then-President Biden's move to do so…
A spike in energy prices due to the ongoing U.S. strikes on Iran has put the Trump administration on the defensive. Low oil and gasoline prices have long been part of the White House’s pitch to voters. Now that they’re on the rise, key officials have argued they are doing their best to bring them down,…
The Trump administration is starting to loosen its sanctions on Russian oil in an attempt to counteract a rapid surge in gas prices due to the war with Iran. On Friday, Treasury Secretary Scott Bessent revealed that his department had permitted India to resume buying Russian oil after the United States imposed sanctions last fall. The Cabinet secretary…
Chris Wright says price increase would last weeks, not months, and that US would not target Iran’s energy industryChris Wright, the US Department of Energy secretary, said on Sunday that the spike in energy prices would last weeks, at the worst, not months, and that the US would not target Iran’s energy industry.His comments come amid rising anxiety that…
The price of a gallon of gas has jumped 14% in a week and looks likely to rise even further as the war in Iran has disrupted oil supplies.
