Oil also powers less of the US economy these days. In 1975, petroleum accounted for 47% of the energy consumed in the United ...

The Indian stock market faced sharp declines in early trading on Monday, June 23, with the Sensex plunging over 900 points and the Nifty 50 slipping below the 24,850 mark due to widespread selling ...

Thailand is imposing new border restrictions including blocking tourists from entering Cambodia as the two countries engage ...

The price of crude oil plunged Monday afternoon, following Iran's retaliatory attacks targeting a U.S. military base in Qatar ...

India relies on diversified energy sourcing and could restrict exports of any refined petroleum product in case of domestic ...

Analysts widely expect any move to restrict the flow of shipping traffic in the Strait of Hormuz to bring a spike to oil ...

Following America's bombing of nuclear sites in the Middle East, petroleum analysts stated they anticipate an increase in oil and gasoline prices.

Draft legislation released by the Senate Finance Committee includes $18 billion in new tax benefits for oil and gas companies ...

The Odessa American is the leading source of local news, information, entertainment and sports for the Permian Basin.

When Iran targeted ships in the Strait of Hormuz in the 1980s, the U.S. Navy escorted ships through the strait. This June, even without a formal closure, some oil tankers and supertankers — which can ...

The all-caps post came hours after weekend bombings in Iran rattled oil markets and reignited fears of rising fuel costs.

Well-supplied markets and weakening demand for crude concern American drillers.