Search results
Results from the WOW.Com Content Network
Oil surged on Friday as tensions in the Red Sea escalated following attacks by the US and its allies against Yemeni sites controlled by Iran-backed Houthi rebels.
The session high was more than $80, highest this year so far. U.S. West Texas Intermediate crude futures climbed 66 cents, or 0.9%, to settle at $72.68, paring gains after touching a 2024 high of ...
Trump also mentioned his intent to impose tariffs on Canada and Mexico starting Feb. 1, sparking concerns of a trade war that could impact economic growth and, as a result, oil consumption.
Representation of a oil derrick. The Texas oil boom, sometimes called the gusher age, was a period of dramatic change and economic growth in the U.S. state of Texas during the early 20th century that began with the discovery of a large petroleum reserve near Beaumont, Texas.
Discover the latest breaking news in the U.S. and around the world — politics, weather, entertainment, lifestyle, finance, sports and much more.
In January and February 1969, in the Santa Barbara Channel, near the city of Santa Barbara, in Southern California. It was the largest oil spill in United States waters at the time, and now ranks third after the 2010 Deepwater Horizon and 1989 Exxon Valdez spills. It remains the largest oil spill to have occurred in the waters off California.
A drop in oil production in the wake of the Iranian revolution led to an energy crisis in 1979. Although the global oil supply only decreased by approximately four percent, [2] the oil markets' reaction raised the price of crude oil drastically over the next 12 months, more than doubling it to $39.50 per barrel ($248/m 3).
US-led airstrikes on Houthi targets in Yemen rattled energy markets on Friday, sending oil prices sharply higher. US crude climbed as much as 4.5% to $75.25 a barrel Friday morning. Brent crude ...