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News Articles: crude oil

A gas pump is seen at a Chevron gas station on June 9 in Houston, Texas. Gas prices nationally hit an average of $5 a gallon, according to AAA.

Tagged as: 

  • National

Gas hits $5 a gallon for the first time. Here's how it got here and what's ahead

Gasoline has become more expensive given that oil prices have surged as the world recovers from the pandemic. Russia's invasion of Ukraine has also made things worse. Here are four things to know.

June 11, 2022
|
By:
  • Brittany Cronin
A gas pump is seen at a Chevron gas station on June 9 in Houston, Texas. Gas prices nationally hit an average of $5 a gallon, according to AAA.

Tagged as: 

  • Business

Gas hits $5 a gallon for the first time. Here's how it got here and what's ahead

Gas prices could rise even further after hitting an average national price of $5 a gallon for the first time. Here are 4 things to know

June 11, 2022
|
By:
  • Brittany Cronin

Tagged as: 

  • Business

31 countries plan a big release of emergency oil to ease gasoline prices at the pump

The International Energy Agency plans to release 120 million of barrels of oil from their emergency reserves, including 60 million from a previously announced U.S. drawdown.

April 06, 2022
|
By:
  • Brittany Cronin
In Los Angeles, gas cost more than $5 a gallon last week. In the rest of the country, gas is a relative bargain at just over $4 a gallon.

Tagged as: 

  • Economy

Gas prices surge to above $4 a gallon, near a national record

The prospect that the U.S. and its allies could impose new sanctions on Russian oil pushed energy prices sharply higher. The average price of gasoline in the U.S. hit $4.06 per gallon.

March 07, 2022
|
By:
  • Scott Horsley
Gas prices are seen at a gas station in Vernon Hills, Ill., on June 11, 2021. Crude prices continued to gain on Thursday even after the U.S. and 30 other countries announced a coordinated release of oil from their reserves.

Tagged as: 

  • World

The U.S. and 30 other nations are releasing oil from reserves to try to calm markets

Oil-consuming nations will bring 60 million barrels of crude out of storage and onto global markets. It's supposed to calm oil prices down, but global crude went up on the news.

March 01, 2022
|
By:
  • Camila Domonoske
A sign shows gas prices at a Shell station in San Francisco on Feb. 23. Gas prices could rise further as crude prices surge following Russia's invasion of Ukraine.

Tagged as: 

  • Business

Oil surges past $100 a barrel after Russia invades Ukraine

Oil surged past triple-digit prices for the first time since 2014. The breach of the psychologically significant milestone is bound to reinforce fears about inflation.

February 24, 2022
|
By:
  • Camila Domonoske
Workers clean oil from the sand, south of the pier, in Newport Beach, Calif., Tuesday, Oct. 5, 2021. A leak in an oil pipeline caused a spill off the coast of Southern California, sending about 126,000 gallons of oil into the ocean, some ending up on beaches in Orange County.

Tagged as: 

  • Environment

Ship's anchor may have caused massive oil spill off the coast of Southern California

The torn underwater pipeline spilled tens of thousands of gallons of crude oil into the ocean, according to federal investigators.

October 06, 2021
|
By:
  • The Associated Press
A pumpjack operates in the desert oil fields in southern Bahrain on April 22, 2020. Bahrain and other members of the OPEC+ alliance decided Thursday to keep output largely unchanged as they hope to push crude prices even higher after a recent rally.

Tagged as: 

  • Energy

OPEC And Allies Keep Oil Production Steady As Saudi Arabia Urges 'Caution'

Oil prices have risen remarkably over the last few months. Now the powerful oil cartel is keeping a lid on supply in an attempt to push crude prices even higher.

March 04, 2021
|
By:
  • Camila Domonoske

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