Gas & Oil
The spike is not yet showing up at the pump, but fears of a regional conflict are driving up key crude benchmarks.
The president’s perennial political headache may come back as geopolitics and climate change squeeze supplies.
The Saudi cut of 1 million barrels per day, to start in July, comes as the other OPEC+ producers agreed in a meeting in Vienna to extend earlier production cuts through next year.
"Sir, the 'they' here is you. You work in the government," Rep. Alexandria Ocasio-Cortez tweeted at the Florida senator.
WHAT'S HAPPENING
Canola, soybean and other common cooking oils are getting a bad reputation as influencers say they cause inflammation and are "poison."
Russian authorities have rejected a price cap on the country’s oil set by Ukraine’s Western supporters and are threatening to stop supplying the nations that endorsed it.
The Group of Seven nations and Australia have joined the European Union in agreeing to a $60-per-barrel price cap on Russian oil.
The president shot down claims from an oil executive who said dividend payouts for investors was a benefit to the American people.
The president will also open the door to additional releases this winter in an effort to bring gasoline prices down.
“What Saudi Arabia did to help Putin continue to wage his despicable, vicious war against Ukraine will long be remembered by Americans,” the Senate majority leader said.