The U.S. is struggling to force Iran to fully reopen the Strait of Hormuz, a critical chokepoint through which roughly 20% of the world’s oil normally flows. Despite President Donald Trump’s aggressive tactics—including airstrikes, naval blockades, and threats—restoring prewar shipping…
Oil prices have surged over $85 as fighting intensifies in the Middle East, with Brent crude rising 4.1% to $86.73 a barrel and US benchmark crude up 3.1% at $80.55 a barrel. The uncertainty over the future stability of supplies…
The National Highway Traffic Safety Administration (NHTSA) is considering removing the requirement for traditional brake pedals and steering wheels in robotaxis. NHTSA administrator Jonathan Morrison stated that it doesn’t make sense for vehicles designed to be fully autonomous to have…
The US federal budget deficit widened 2% to $1.37 trillion in the first nine months of fiscal 2026, Treasury Department data showed on July 13, 2026. The shortfall for June alone hit $120 billion, reversing a months-long narrowing trend driven…
China’s aggressive push to electrify its roads is getting a tailwind from the age of its car fleet. The average vehicle on Chinese roads is under seven years old, according to the latest figures from the Chinese Ministry of Public…
A bitter lobbying war has erupted between energy companies and maritime advocates over whether President Donald Trump should extend a 150-day waiver of the century-old Jones Act, which mandates that vessels transporting cargo between U.S. ports must be built, owned,…
Iran exported at least 57 million barrels of crude oil—roughly 2.2 million barrels per day—during a temporary easing of U.S. naval blockades on Iranian shipping through the Strait of Hormuz. The gap between blockades allowed Tehran to ramp up exports…
The United Arab Emirates informed OPEC that its crude oil production skyrocketed by 80% in June, reaching approximately 3.8 million barrels per day. This surge follows Abu Dhabi’s decision to exit OPEC’s production limits at the start of May, effectively…
The United States and Iran have exchanged strikes on July 13, with both countries claiming control of the Strait of Hormuz. The conflict has disrupted a key global oil and gas route, with Iran targeting vessels and traffic dropping sharply…
Oil prices have jumped and world shares are mixed after the U.S. carried out airstrikes and Iran retaliated. The price of Brent crude, the international standard, climbed as much as nearly 5% early on July 13 before falling back to…