Oil

Experts tell FOX Business the U.S. economy is barreling toward a recession, or may already be in one.

Tanker freight rates have tripled since Russia invaded Ukraine, but most big operators aren’t hauling Russian oil and gas even though many governments haven’t halted imports of fuel from the country.

The Schork Group principal Stephen Schork warned that gas prices will continue to soar amid “very ugly” inflation and that a recession is “unavoidable at this point.”

In the first week of March, 10 states saw prices at the pump increase more than 50 cents, according to AAA.

Former Speaker of the House and Fox News contributor Newt Gingrich weighs in on the Russia-Ukraine war and the U.S. looking to foreign countries for oil.

The worst is yet to come for American consumers, experts say, as gas prices hit a national average of $4.28 per gallon on Wednesday.

Virginia Gov. Glenn Youngkin joins Georgia's governor in suspending their respective states' gas tax.

The price of oil resumed its move higher on Thursday morning after a sharp drop on Wednesday.

The consumer price index hit a 40-year high in January, and economists expect the surge to continue.

After Biden banned Russian oil imports this week amid Putin's invasion of Ukraine, lawmakers are calling for the president to waive the Jones Act, a century-old law that critics deride as protectionist because it requires all oil and cargo shipped between U.S. ports to be on American built vessels with an American crew.

FOX Business host Larry Kudlow reacts to Biden's energy policies on 'Kudlow.'

Biden questions if gas vendors are squeezing consumers for extra dollars at the pump amid soaring prices.

U.S. Energy Secretary Jennifer Granholm Wednesay said energy companies need to be "producing more right now" to counter rising prices.

OPEC members have suggested they could increase production to supplement supplies in the face of Russian energy sanctions.