Former World Bank President David Malpass analyzes the market impact of crude oil dropping below $100 per barrel. #foxbusiness #fox #crudeoil #federalreserve #interestrates #inflation #housingmarket #jobmarket #energy #economy #usnews #business
Costco has introduced purchase limits on its Kirkland motor oil as rising crude oil prices and supply challenges impact availability and cost.
PULSE POINTS WHAT HAPPENED: Costco has reportedly begun limiting purchases of its Kirkland Signature full synthetic motor oil to two units every seven days as motor oil prices rise amid higher global energy costs. The membership warehouse recently raised the price of a two-pack containing two five-quart bottles from its longtime range in the mid-$30s to $57.99. DETAIL: Costco’s website now warns members that purchases are limited to one transaction per membership, with a maximum of two units every seven days, although it is unclear how long the restriction will last. The company has also limited purchases of Mobil 1 motor oil, with the six-quart product currently priced at $44, capped at five units per member. Motor oil is largely made…Open
The last time WTI prices broke the $100 per barrel mark was in May, after which they fell following the announcement of an interim peace agreement with Iran. That agreement has since expired, and global markets are responding as hostilities continue.
Iran-backed Houthi threats against Saudi oil tankers in the Red Sea have disrupted global shipping routes, driving up oil prices and raising fears of further instability in the region.
PULSE POINTS WHAT HAPPENED: International and U.S. oil prices climbed more than four percent on Wednesday as renewed concerns over global energy supplies intensified after Yemen’s Iran-backed Houthi rebels began enforcing a self-declared “maritime ban” on Saudi oil tankers in the Red Sea, prompting several vessels to reverse course. The Houthis announced the blockade earlier this week in response to renewed Saudi military strikes in Yemen, threatening to prevent Saudi crude exports from transiting the Red Sea and the Bab el-Mandeb Strait after Iranian attacks disrupted shipping through the Strait of Hormuz. DETAIL: Maritime intelligence firms reported that at least seven ships carrying Saudi cargoes, including a tanker transporting…Open
Gas prices in the United States have risen above $4 per gallon nationally for the first time in over a month, driven by rising oil costs and escalating clashes between the U.S. and Iran.
PULSE POINTS WHAT HAPPENED: Gas prices in the United States rose above $4 a gallon again following increased tensions between the U.S. and Iran. DETAIL: On Monday, the national average price for a gallon of gas rose to $4.003, according to data from the American Automobile Association (AAA) Fuel Prices tracker. This represents the first time in over a month that the national average price of gas has exceeded $4. The increase in the price of gas follows renewed clashes between the U.S. and the Islamic Republic of Iran, particularly over control of the Strait of Hormuz, a virtual chokepoint for international oil and fertilizer exports. Approximately 20 percent of the world’s oil exports travel through the Strait of Hormuz. The average…Open
At the end of May 2026, the United States solidified its position as the world’s largest oil exporter, shipping approximately 10.5 million barrels per day of crude and refined products, surpassing Russia and Saudi Arabia for the third consecutive month. This is a historic energy dominance and reversal of decades-old global supply dynamics, building on the U.S. […] The post U.S. Energy Lead Secured: Trump Pushes Lower Gasoline Prices appeared first on StoneZone .
At the end of May 2026, the United States solidified its position as the world’s largest oil exporter, shipping approximately 10.5 million barrels per day of crude and refined products, surpassing Russia and Saudi Arabia for the third consecutive month. This is a historic energy dominance and reversal of decades-old global supply dynamics, building on the U.S. becoming a net petroleum exporter in 2026 for the first time since at least 1949. Yet many Americans continue to feel the price at the pump. While crude prices have fallen sharply, gasoline prices remain elevated, roughly .30 to .50 cents higher than they would be under normal circumstances as pre-conflict levels gradually return. President Donald J. Trump has directed the…Open
Global oil prices plummeted nearly 6 percent Monday after President Donald Trump announced a completed peace deal with Iran that includes the reopening of the […] Source
