U.S. Push for Exceptions in Europe’s Sanctions on Russian Oil Gains Traction
A U.S. push to pare back one of the European Union’s sanctions on Russian oil has tentatively started to gain...
Energy Markets
U.S. Retail Sales Declined in May as Inflation Stings Consumers
Americans’ retail spending declined in May, as consumers felt the pinch from inflation, higher gasoline prices and rising interest rates.Retail...
As Gas Prices Near $5 a Gallon, Record Fuel Costs Upend Businesses, U.S. Economy
As U.S. gasoline prices approach a record average of $5 a gallon, fuel costs are rippling through almost every corner...
Bottleneck Fuels Record-High Gas Prices
A shortage of fuel-making facilities is pushing U.S. gasoline and diesel prices to record levels, just as drivers prepare for...
Saudi Aramco Posts Record Quarterly Profit on Surging Oil Prices
DUBAI—Saudi Aramco posted a record quarterly profit on Sunday, as the oil giant benefits from surging oil prices following Russia’s...
Oil Prices Top $100, Yet Some Big U.S. Frackers Let Their Production Fall
Oil prices are at their highest in years and politicians want companies to pump more. But most large American frackers...
Tariff Probe Casts Shadow on U.S. Solar Build-Out
American utilities are anticipating a significant slowdown in the build-out of new solar farms amid a U.S. probe into Asian...
Exxon and Chevron, Buoyed by High Oil Prices, Shower Investors With Cash
Big oil companies are continuing to reap the benefits of high commodity prices but aren’t backing off plans to reward...
American, United Project Packed Planes This Summer
Airlines said they have reached a new juncture in their recovery from the Covid-19 pandemic, anticipating record revenue in the...
High Gasoline Prices Take Up Big Share of March Retail Spending Increase
U.S. retail sales grew modestly by 0.5% in March as consumers kept spending amid rising gasoline and food prices. Source...
Europe Faces Pressure to Dial Up Sanctions on Russia Over Ukraine Deaths
BERLIN—French President Emmanuel Macron’s call Monday for sanctions banning imports of Russian oil and coal into the European Union following...
Biden to Draw Down Oil Reserves in Bid to Ease Gas Prices
WASHINGTON—President Biden will tap up to 180 million barrels of government oil reserves to help tamp down near-record high fuel...
How High Energy Prices Could Help Both the Climate and the U.S.
The surge in global energy prices triggered by Russia’s invasion of Ukraine sure doesn’t seem like any sort of blessing....
Europe’s Economy Slows as Ukraine War Sends Costs Soaring
Europe’s economic recovery slowed in the first weeks of March after Russia’s invasion of Ukraine while U.S. business activity picked...
Aramco Profit Hits $110 Billion as Saudis Seek to Expand Investments
DUBAI—State oil giant Saudi Aramco said Sunday its 2021 net profit more than doubled to $110 billion, a boon to...
U.S. Retail Sales Grew 0.3% in February
Americans kept up retail spending in February but at a slower pace than the prior month, as they faced high...
Biden Bans Imports of Russian Oil, Natural Gas
The U.S. is banning imports of Russian oil, President Biden said, targeting the lifeblood of Moscow’s economy as the West...
Oil CEOs, Biden Officials Warn Oil Volatility Is Here to Stay
HOUSTON—The chief executives of some of the world’s largest oil companies and U.S. government officials warned Monday that there were...
Oil Industry Contemplates World Without Russian Crude
As oil prices shoot to levels unseen since before the 2008 financial crisis, the energy industry is asking a previously...
Strong Hiring, Low Unemployment Point to Economy Making Post-Pandemic Pivot
The U.S. labor market is pivoting toward a post-pandemic world, with a steady stream of adults joining the labor force...
