US eases some Russian oil sanctions but crude prices stay high

The US is temporarily easing some sanctions on Russian oil shipments, reflecting global concerns over sharply higher crude prices due to supply shortages stemming from the Iran war. The move, intended to soothe jittery markets over the disruption of Middle Eastern oil and gas supplies, underlines how the war has boosted Moscow’s ability to profit from its energy exports, a pillar of the Kremlin’s budget as it presses its invasion of Ukraine. US sanctions will not apply for 30 days on deliveries

2026-03-15 11:10:53:00

World leaders eye oil reserves, but so far hold off on tapping them

NEW YORK (AP) — A widening war in Iran has halted oil tankers, made targets of refineries and spooked investors worried about the cascading impact of spiking energy prices. If it might seem like the ideal time to dip into the world’s emergency oil stockpiles, global leaders have so far responded with reluctance. Here is a look at the energy supplies that countries hold and when they tap them: Since war erupted in the Middle East on Feb. 28 with US and Israeli attacks on Iran, the flow of oil tan

2026-03-10 10:23:37:00

Crude oil prices surpass $100 a barrel as Iran war impedes production

CHICAGO (AP) — Oil prices eclipsed $100 per barrel for the first time in more than three and a half years Sunday as the Iran war hinders production and shipping in the Middle East. The price for a barrel of Brent Crude, the international standard, was at $107.97 after trading resumed on the Chicago Mercantile Exchange, up 16.5 percent from its Friday closing price of $92.69. West Texas Intermediate, the light, sweet crude oil produced in the United States, was selling for about $106.22 a barrel.

2026-03-09 10:20:55:00