Oil Prices

Global energy prices spiked on Monday after a weekend attack on key oil facilities in Saudi Arabia caused the worst disruption to world supplies on record, an assault for which President Donald Trump warned that the U.S. was "locked and loaded" to respond. U.S. officials offered satellite images of the damage at the heart of the kingdom's crucial Abqaiq oil processing plant and a key oil field, alleging the pattern of destruction suggested the attack on Saturday came from either Iraq or Iran —

Seizures of oil tankers and other hostile Iranian measures in the Strait of Hormuz are already raising insurance rates for shipping companies and could eventually reduce tanker traffic in the vital waterway, with a spike in global oil prices a serious risk even without war, energy and maritime experts say. On Friday, Iran seized a British-flagged oil tanker in the narrow passageway that carries one-fifth of the world's crude exports and a second Liberian-flagged ship was briefly detained. "If

From Congress to Facebook ads, Marathon Petroleum used every trick.

Al Arabiya op-ed warns that oil could jump "to $100, or $200, or even double."

Consumers could pay an extra $193 billion for fuel by 2035, study suggests.

Much refining capacity is offline, and pipelines have been throttled back.

The U.S. is now the world's largest net fuel exporter.

US fuel consumption may "fall" to 7 million barrels a day by 2035 if EVs account for a third of new-car sales.

For the first time since the law went into effect in 2005, a tax credit to help marginal well oil producers is paying out, thanks to low prices.

A new plan called Vision 2030 includes selling a portion of the state-owned oil company Aramco.

Navigant Research says better overall MPG, autonomous driving features, and alt-transportation programs will have a greater impact on oil demand than EVs.

"You have to believe that there is a possibility that you will not necessarily go back above $100, you know, ever," said Ian Taylor, CEO of the world's largest independent oil trader.

Crude trades for around $30 a barrel, but an oil drum will set you back about $99 each.

OPEC's latest World Oil Outlook one again gives the cold shoulder to alt-fuel vehicles, saying that EVs will likely, "not achieve mass market appeal."

Oil industry analysts can't decide how crude prices might change by the end of the year. With a huge inventory already in the stockpile, global demand is going to determine the price.

People will keep on buying EVs since various emissions regulations will mean automakers will continue to build them, no matter what happens to gas prices.

AAA's predictions of cheap gas for the coming fall season are already being realized. Gas prices across the country are dipping to the lowest levels seen in almost four years.