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US to impose new costs on Russian evasion of oil price cap

CNN  —  The Biden administration is set to announce new measures to raise the cost of Russia’s attempts to skirt a limit set on the price for its oil, a…

US seizes nearly 1 million barrels of Iranian oil allegedly bound for China

CNN  —  The US government seized nearly 1 million barrels of Iranian crude oil allegedly bound for China, according to newly unsealed court documents and a statement released by the…

Oil prices have doubled in a year. Here’s why

It’s a good day for OPEC. Data published Monday by the oil cartel show its members have largely complied with an agreement to slash production. The confirmation caps a remarkable…