The war in Ukraine has touched off a feud between the White House and U.S. oil industry as many companies reap record profits from rising prices despite pumping less crude than before the pandemic, leaving American consumers beset by surging gasoline costs.

The Biden administration is weighing a ban on U.S. imports of Russian crude oil as Congress races toward passing such a restriction to punish the Kremlin for its invasion of Ukraine.

The chorus is growing from America’s oil executives for President Joe Biden to throw the federal government’s weight behind an industry he once deliberately shunned: U.S. shale.

FedEx Corp. has suspended all services in Russia and Belarus as fighting intensifies following the invasion of Ukraine.

The U.S. and its allies are discussing a coordinated release of about 60 million barrels of oil from their emergency stockpiles after Russia’s invasion of Ukraine pushed crude prices above $100.

Oil extended its retreat from a seven-year high, slipping back below $100 a barrel in London, as Russia’s invasion of Ukraine forced traders to grapple with a fluid market environment.

Oil surged above $105 a barrel for the first time since 2014 after Russia attacked sites across Ukraine, triggering fears of a disruption to energy exports at a time of already tight supplies.

Ford Motor Co. is looking at ways to separate its electric vehicle operation from its century-old legacy business, hoping to earn the sort of investor respect enjoyed by Tesla Inc. and other pure-play EV makers.

The International Energy Agency urged OPEC and its allies to address a widening shortfall in their oil production as a volatile market sends crude prices rocketing toward $100 a barrel.

TuSimple Holdings Inc. is in talks to join forces with one of China’s premier commercial vehicle manufacturers to create heavy-duty trucks aimed at making long-distance logistics more efficient.