Energy in America

The Trump administration's decision to impose sanctions on countries that buy Iranian oil is raising concerns about global crude supply and sending oil prices to their highest levels since October.

Major U.S. stock indexes closed mostly lower Monday, as losses in banks and other sectors offset solid gains in energy companies following a surge in crude oil prices.

___ Medicare, Social Security face shaky fiscal futures WASHINGTON (AP) — A new report by the government's overseers of Medicare and Social Security urges lawmakers to "take action sooner rather than later" to address shortfalls in the financial condition of the government's bedrock retirement programs for middle- and working-class Americans.

Stocks that moved substantially or traded heavily on Monday: Kimberly-Clark Corp., up $6.70 to $130.25 The maker of Kleenex tissues and other consumer products reported a surge in profit that beat forecasts.

The latest on developments in financial markets (all times local): 9:35 a.m.

The developers of a new offshore wind farm said Monday that they're investing $4.5 million in Rhode Island to advance the industry in the state.

The Trump administration is poised to tell five nations, including allies Japan, South Korea and Turkey, that they will no longer be exempt from U.S. sanctions if they continue to import oil from Iran, officials said Sunday.

An oil company in Nigeria is declaring a "force majeure" shutdown after a fire.

On the positive side, U.S. energy companies may start to recover some lost profits from the last set of waivers, but at the gas pump the pain will be felt.

The Latest on U.S. sanctions on countries importing Iranian oil (all times local): 8:45 a.m.

Traders were bracing for a sharp reduction in the global supply of crude oil.

China has criticized Washington's decision to tell Beijing and other governments to stop buying Iranian oil or face sanctions.

Asian stock markets were mostly lower while oil prices surged for a second day Monday following reports Washington wants to block Iranian exports.

Asian stock markets were mixed Monday following the Easter holiday weekend as investors looked ahead to U.S. and Japanese economic data.

The Trump administration is poised to tell five nations, including allies Japan, South Korea and Turkey, that they will no longer be exempt from U.S. sanctions if they continue to import oil from Iran.

The average U.S. price of regular-grade gasoline surged 13 cents a gallon (3.8 liters) over the past two weeks, to $2.91.