Crude futures picked up from early losses and added to yesterday’s gains as the U.S. stepped up actions in the Caribbean to cut off Venezuela’s oil trade and increased pressure on the country’s strongman Nicolás Maduro.

There’s a record 1.4 billion barrels of crude currently on the world’s oceans, pushing down benchmark prices and sending gasoline under $3 a gallon at the pump in the US.

Oil settled marginally lower on Wednesday, and prices were on course for their steepest annual decline since 2020 as investors weighed U.S. economic growth and assessed the risk of supply disruptions from Venezuela and Russia.

Under international law, Venezuela has control over its own oil — but its efforts to nationalize its oil industry in 2007 did result in arbitration.

Gold and gold equities have outperformed significantly since 2022, but market leadership is now shifting toward the energy sector. Learn why increasing oil exposure is critical.

Oil prices settled higher on Tuesday as investors assessed stronger-than-expected U.S. economic growth and the risk of disruptions to oil supply from Venezuela and Russia.

Former Exxon executive Meg O’Neill is set to become the first woman to lead an oil major.

When Guy Coviello, president of the Youngstown/Warren Regional Chamber of Commerce was asked if the amount of oil and gas produced in the third quarter of this year by a new horizontal oil and gas well in Ellsworth is good news for the area’s oil and gas industry,

Some people claim that combining olive oil and lemon juice can treat various conditions, such as gallstones, but little evidence supports these claims.

Crude futures ended a shortened pre-Christmas session with little change as U.S. actions to contain Venezuela’s oil trade and continuing Russia-Ukraine tensions provided support against views of oversupply.