Breaking
Gas Falls Below $4 a Gallon for the First Time in Months, AAA Says
The national average hit $3.94 as crude oil slid to about $90 a barrel on a seasonal shift and hopes for U.S.-Iran talks, but analysts warn the relief could reverse.
Topic
Oil
65 stories from Planck Standard. Latest: November 12, 2026.
PoliticsTrump Calls 1 Million Barrels of Venezuelan Oil a 'Gift,' but the Deal Isn't Free
The company behind the shipment first said the U.S. bought it, then echoed the president; a source says the cost is recouped through future pricing.
Top NewsTrump Invokes Defense Production Act for $150 Million to Lift Fuel Output as Gas Tops $4.29
Experts say the Korean War-era law is unlikely to bring prices down quickly, with U.S. refineries already running flat out and crude oil at its highest level since May.
WorldIran Says Hormuz Stays Shut Until U.S. Meets Seven Conditions From June Deal
Parliament Speaker Mohammad Baqer Qalibaf said Tehran could restore normal traffic within seven days if Washington meets terms drawn from the Islamabad memorandum.
Top News10-Year Treasury Yield Hits 5.33%, the Highest Since 2002, in the Worst Bond Quarter This Century
A global bond rout, strong growth, sticky inflation and $100 oil are pushing borrowing costs for mortgages, cars and the federal government sharply higher.
WorldFrance Will Send Troops and Air Defenses to Guard Saudi Arabia's Yanbu Oil Port
Macron says the soldiers and radar will protect the Red Sea terminal of the pipeline Saudi Arabia now depends on while Hormuz is shut, after new Houthi missile and drone attacks.
WorldIran Offers a Seven-Day Plan to Reopen Hormuz, With a $12 Billion Price Tag
Foreign Minister Abbas Araghchi says the strait would reopen on day seven if the U.S. agrees to a full ceasefire, frees frozen assets, lifts its blockade and waives oil sanctions. The White House calls the talks 'positive and constructive' but says it won't rush.
WatchTop NewsThe 10-Year Treasury Yield Topped 5% Monday for the First Time Since 2023
Nine ships crossed the Strait of Hormuz on Thursday. Traders now put the odds of a Fed rate hike on Wednesday above 90%, and the Nasdaq 100 fell 1.3% as AI stocks sold off on top of the oil shock.
WorldDrones From Iraq Shut Saudi Arabia's Escape Route Around Hormuz
The East-West pipeline that let the kingdom pump more than 5 million barrels a day to the Red Sea is closed after a drone attack traced to Iraqi territory, while the Houthis now hold every island in the Bab el-Mandeb and Crown Prince Mohammed bin Salman is pressing Trump to strike them.
WorldFour American Missiles Hit an Iranian Tanker at Kharg Island's Anchorage, Tehran's Tasnim Agency Says
The crew was evacuated and no casualties were reported. Kharg carried 90 percent of Iranian crude exports before the war, and Trump said last week the island was being "blown to smithereens."
WorldMilei Wants Sanctions on Anyone Servicing the Sea Lion Oilfield. It Sits 140 Miles From the Falklands
Argentina's president called the British-developed project a 'clear and present danger' and asked for a law change to punish contractors. He moved after Trump questioned Washington's long-standing position on the islands.
WatchWorldSix Months Into the Iran War, the Senate's Top Armed Services Democrat Says 'Not a Single Objective' Has Been Achieved
The conflict passed its half-year mark on Friday with the Strait of Hormuz still contested, roughly 6,000 sailors on 400 ships still stuck in the region, and Tehran refusing to yield to what the Treasury Department is calling an economic D-Day.
WatchTop NewsTrump Says the U.S. Now Controls 65 Billion Barrels of Venezuelan Oil. He Did Not Say Who Owns the Company
The president called it 'THE BIGGEST OIL DEAL IN WORLD HISTORY' in a social media post, seven months after U.S. forces seized Nicolás Maduro. The announcement named no operator, no fields and no price.
WatchTop NewsIran Says the Strait of Hormuz Stays Shut Until Washington 'Corrects Its Behavior'
Tehran's security chief laid out six conditions for reopening the world's most important oil chokepoint. Fewer than 10 ships a day are getting through a waterway that used to carry 130.
WorldTreasury's Eighth Round of Iran Sanctions Hits a Tehran Bank and Two Dubai Exchange Houses
Officials say the network laundered hundreds of millions of dollars in oil revenue through shell companies in Hong Kong, Singapore and Dubai. "Every facilitator that keeps the regime afloat is putting a target on its own back," Treasury Secretary Scott Bessent said.
WorldIran's Parliament Wants to Charge Ships 7% of Their Cargo to Cross Hormuz — and Bar American and Israeli Vessels Entirely
The draft would keep 'hostile' ships out until Tehran is compensated for war damage and fine violators a fifth of their cargo. A U.S. official told NPR the strait is international water and 'no party controls the lanes.'
PoliticsTrump Tells Exxon and Chevron They Made 'Too Much Money' and Orders Them to Cut Pump Prices
With gasoline above $4 a gallon and Brent crude sliding, the president singled out the two largest U.S. oil companies by name and said they had better hand some of it back.
WatchTop NewsU.S. and Israel Draw Up Plans to Bomb Iran's Power Plants and Refineries, Possibly This Weekend
Sources tell CBS News the two governments want any campaign against Iran's energy grid wrapped up before financial markets open Monday. President Trump has not given final approval.
WorldHouthi Missiles Set Saudi Aramco's Jizan Refinery Ablaze as Yanbu Interceptors Fire Overhead
Reuters verified video of a column of smoke over the Red Sea refinery. Saudi air defenses shot down two ballistic missiles aimed at Yanbu, and output at one plant has already been cut.
WatchTop NewsU.S. Strikes Iran for a 10th Straight Night as a Tanker Crew Abandons Ship in the Strait of Hormuz
U.S. Central Command said the latest barrage was meant to degrade Iran's ability to hit commercial shipping, hours before Iran's Revolutionary Guard claimed it struck two 'non-compliant' tankers in the waterway.
WorldYemen's Houthis Declare Naval Blockade of Saudi Arabia, Threatening a Quarter of the World's Oil
The Iran-aligned group said it would bar Saudi ships from the Bab el-Mandeb Strait "an eye for an eye," opening a dangerous new front in the U.S.-Iran war and widening the threat to global energy supplies.
Top NewsGas Hits $3.99 a Gallon as Iran War Reignites the Inflation Fight Americans Thought Was Over
Pump prices are up 34% since fighting began, and a Houthi threat to a second oil chokepoint has traders bracing for a fresh energy shock just as the Federal Reserve was closing in on its 2% target.
Watch
Top NewsU.S. Pounds Iran for a Fifth Straight Day in a Widening Fight Over the Strait of Hormuz
American forces launched two back-to-back waves of strikes Wednesday, including a 90-minute barrage on Greater Tunb Island, as Iran's Health Ministry said more than 260 people have been wounded and Tehran freed a detained American woman.
WatchWorldU.S. Naval Blockade of Iran Takes Effect at the Strait of Hormuz, Ships Now Subject to Capture
The Pentagon's blockade of every Iranian port and oil terminal went into force at 4 p.m. Eastern, with any non-compliant vessel now liable to interception, diversion or seizure by force.
WatchWorldIran Declares the Strait of Hormuz Closed as the U.S. Launches a Third Round of Strikes in a Week
Tehran said it had shut the world's most important oil chokepoint after firing on a ship, while Washington insisted the waterway remained open and hammered roughly 140 Iranian military targets.
WatchTop NewsU.S. Pounds More Than 80 Iranian Targets After Tankers Burn in the Strait of Hormuz
President Trump, at the NATO summit in Ankara, declared the month-old ceasefire 'over' as Central Command struck air defenses, radar sites and roughly 60 Revolutionary Guard boats. Iran fired projectiles toward Bahrain and Kuwait and shot down a U.S. drone.
WorldFor the First Time Since the Pandemic, the World Is About to Burn Less Oil — and a Glut Is Coming
The International Energy Agency says the Iran war has destroyed demand faster than it has choked supply, cutting 2026 global oil consumption by roughly a million barrels a day and setting up a surplus in 2027.
WatchWorldTrump Declares the Iran Ceasefire 'Over' and Vows to 'Hit Them Hard Again' After U.S. Strikes 80 Targets
The president threatened to reimpose a naval blockade on Iran's ports as oil prices jumped roughly 8%, and Tehran warned it would shut the Strait of Hormuz and retaliate with twice as many targets.
WorldU.N. Launches Mass Evacuation of 11,000 Seafarers Stranded in the Strait of Hormuz
The International Maritime Organization opened two new sea lanes to free tankers and cargo ships trapped since the U.S. and Israel attacked Iran in February.
WorldIran Drone Strikes Cargo Ship in Strait of Hormuz, Defying Fragile U.S. Deal
U.S. officials blamed Iran's Revolutionary Guard for a drone that struck a Singapore-flagged vessel off Oman, forcing a pause in efforts to evacuate stranded seafarers.
WorldIran to Impose Transit Fees on the Strait of Hormuz, Claiming Control of Vital Oil Route
Tehran says it will begin charging fees for 'navigational services' through the world's most important oil chokepoint within two months — a move U.S. officials warn is deeply problematic.
WorldBritish Forces Board and Seize Suspected Russian 'Shadow Fleet' Tanker in the English Channel
U.K. troops detained a sanctioned oil tanker off England's south coast on Sunday in what London called the first British-led operation of its kind against Moscow's sanctions-busting fleet.
Top NewsTrump Claims Strait of Hormuz Will Be 'Permanently Toll Free' Under Iran Agreement
President describes Israel's prime minister as 'a very difficult guy' while praising Russia and China's leaders in phone call to New York Times.
WatchTop NewsU.S. and Iran Set to Sign War-Ending Deal Today as Trump Says Strait of Hormuz Will Open 'to All'
President Trump said the agreement is 'scheduled to get signed' Sunday, a step that would wind down a months-long conflict and reopen the waterway that carries a fifth of the world's oil.
Top NewsWall Street Roars Back and Oil Tumbles as Trump Touts Imminent Iran Peace Deal
Stocks rallied and crude prices sank more than 3% after the president said an agreement to end the war and reopen the Strait of Hormuz could be signed within days.
Top NewsU.S. Military Quietly Escorts Commercial Ships Through Strait of Hormuz
Central Command has guided around 70 commercial vessels through the critical waterway in just three weeks as regional tensions escalate.
Top NewsTrump's Iran Peace Deal Stalls as 1,500 Ships Remain Stranded in Strait of Hormuz Backlog
Even after reaching an agreement to reopen the critical waterway, moving the massive vessel backlog could take weeks or months.
- Top News
Wall Street Sinks as Oil Tops $110 and 10-Year Yield Brushes 4.6% Ahead of Make-or-Break Nvidia Earnings
Dow futures slid 350 points after the UAE drone strike, but options markets are pricing a ±9% swing on Nvidia's earnings Wednesday — enough on its own to add or subtract 95 points from the S&P 500.
Top NewsTrump Calls Off Tuesday Strike on Iran After Gulf Arab Plea, Warns Pentagon to Be Ready for 'Full, Large Scale Assault' on a Moment's Notice
Oil retreated below $110 as the president gave Tehran a 72-hour window to accept a U.S.-backed deal — even as the USS Gerald R. Ford and USS Eisenhower remained on station in the Arabian Sea.
Top NewsUS and Iran Exchange Fire in Strait of Hormuz Despite Declared Truce
Military officials report strikes on Iranian targets after Tehran allegedly fired on American warships, escalating tensions during fragile ceasefire negotiations.
WorldGrowing UAE-Saudi Arabia Rift Threatens Middle East Oil Alliance
Competition between Gulf powers intensifies over energy quotas and regional conflicts, with officials struggling to maintain facade of cooperation.
Top NewsShips Under Fire in Strait of Hormuz as Iran-US Tensions Escalate
Maritime attacks threaten vital oil shipping route despite conflicting claims from Washington and Tehran about control of the strategic waterway.
Top NewsIran Threatens Ships as Trump's Strait of Hormuz Protection Plan Meets Resistance
Tehran warns vessels against accepting U.S. naval escort services while shipping companies remain uncertain about safe passage through critical waterway.
Top NewsTrump Announces Project Freedom to Escort Stranded Ships Through Strait of Hormuz
President offers few details on new program but warns interference will be met with 'forceful' response amid Iran conflict.
MarketsGas Prices Surge to $4.39 Per Gallon in Biggest Jump Since Iran Ceasefire
The national average rises in the largest one-day increase recorded since the April 7 ceasefire announcement, signaling renewed market volatility.
Top NewsTrump Dissatisfied With Iran's Plan to Reopen Strait of Hormuz
The proposal would set aside nuclear program questions but fails to meet administration demands for comprehensive regional security.
- Top News
US Blockade Stops Iran-Linked Ships From Crossing Strait of Hormuz
Six vessels comply with U.S. Central Command directions to turn around and return to Iranian ports as military enforces shipping restrictions.
Top NewsIran Blockade Sets Up Test of Economic Endurance as Trump Chokes Off Oil Lifeline
President Trump implements Strait of Hormuz blockade to pressure Iran into negotiations, but Iranians bet on his limited tolerance for political pain from rising energy costs.
Top NewsU.S. Navy Destroyers Enter Strait of Hormuz to Begin Historic Mine-Clearance Mission
The USS Frank E. Peterson and USS Michael Murphy crossed the Strait for the first time since the U.S.-Israel war on Iran began, as CENTCOM vowed to reopen one of the world's most critical oil chokepoints.
WorldEuropean Airports Face Jet Fuel Crisis Within Three Weeks as Iran's Hormuz Blockade Throttles Global Oil
With jet fuel at $195 per barrel — more than double last year's average — and European strategic reserves depleting fast, the Airports Council International has warned of a systemic shortage that could ground flights across the continent.
WatchTop NewsUS Navy Destroyers Cross Strait of Hormuz for First Time Since Iran War Began; Iran Claims It Warned Ships to Turn Back
Two American guided-missile destroyers navigated the critical oil chokepoint Saturday in the war's most significant maritime development since the conflict began, as VP Vance simultaneously met with Iranian officials in Islamabad.
- Top News
Gas Prices Expected to Remain Elevated Despite Strait of Hormuz Reopening
Energy experts warn that restoring normal oil production and shipping will take months, keeping fuel costs high for consumers.
- Top News
Iran War Live: Trump Warns 'Whole Civilization Will Die Tonight' as Midnight Deadline Approaches
President issues grave ultimatum as US strikes Iran's main oil export hub while demanding Strait of Hormuz reopening by 8 p.m. Eastern.
WorldUK Assembles 40-Nation Coalition to Reopen Strait of Hormuz — Without the United States
Foreign Secretary Yvette Cooper convened a virtual emergency summit with over 40 countries after Trump declared reopening the Strait 'not America's responsibility,' demanding Iran stop 'holding the global economy hostage.'
Top NewsGas Prices Hit $4 Per Gallon as Iran Conflict Drives 35% Surge Since February
Drivers across America face significant pain at the pump as Persian Gulf oil supply disruptions push fuel costs to highest levels since 2022.
- Business
Trump Considers Seizing Iran's Kharg Island Oil Hub in Escalation of War Aims
President says he wants to 'take the oil in Iran' and is weighing capture of facility that handles 90% of country's exports.
- Top News
U.S. to Allow Russian Oil Tanker to Reach Cuba, Breaking Blockade
The tanker carrying crude oil is expected to reach its destination Tuesday, providing critical energy relief to the Caribbean island amid mounting U.S. pressure.
Watch
WorldUS-Iran War Enters Day 28 as Trump Extends Deadline and Lebanon Death Toll Surpasses 1,100
President gives Tehran until April 6 to reopen the Strait of Hormuz as Lebanon confirms more than 1,100 killed and 370,000 displaced since fighting began.
Top NewsTrump Faces Oil Crisis as Iran Retaliatory Attacks Choke Strait of Hormuz
National security correspondent analyzes how Iranian missile strikes have largely shut down the critical shipping lane, creating major challenges for the administration.
WatchTop NewsTrump Gives Iran 48-Hour Ultimatum: Open Strait of Hormuz or U.S. Will Obliterate Power Plants
President Trump threatened to destroy Iran's power grid if Tehran doesn't reopen the critical waterway by Monday evening, as Iran launched 180 missiles at two Israeli cities near the country's nuclear research center.
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