Fuel News

Brent crude oil, the international standard, rose 6.4% to $96.97 per barrel. 

BP executive William Lin will leave the company as it undertakes an overhaul of its senior leadership. The executive vice president of gas and low carbon will remain in the office until Q3.

Oil companies are rushing to secure giant tankers to ensure they can transport barrels after the industry was upended by war and the largest vessel-buying spree in a generation, DHT's CEO says.

Shipowners are increasingly optimistic about a pickup in traffic through the Strait of Hormuz after more vessels left the waterway this week.

Congress returns to Capitol Hill on June 1 after the Memorial Day recess to re-engage in midterm election politics driven by partisan affordability messages.

Tomatoes, ubiquitous in everything from fast-food burgers to haute cuisine, are taking on a new role beyond the plate: A nagging reminder of rising costs.

Brent crude, the international standard, fell 2.1% to $90.78 a barrel. 

Twenty-nine of the 109 bigger vessels, which were stranded when the Strait of Hormuz was effectively shuttered after the conflict erupted on Feb. 28, have crossed the chokepoint.

Chevron would not consider paying a toll to move ships through the Strait of Hormuz, CEO Mike Wirth said.

Oil prices continue to swing and more data shows pressure building on the economy because of the war with Iran.