Oil

The Biden administration said on Tuesday it would take steps to restart the federal oil and gas leasing program in the next week and plans to hold a Gulf of Mexico auction as soon as October, court papers showed.

The U.S. energy industry is weighing in on COVID-19 vaccine mandates for employees as infections are on the rise following the spread of the Delta variant.

Oil prices rose on Friday, pulling up from three-month lows, but they were still on track for a weekly loss of over 5% as new lockdowns in countries facing surging cases of the Delta variant dampened the outlook for fuel demand.

Oil prices fell to a three-month low Thursday as investors fretted over the resurgence of COVID-19 and the summer driving season nearing an end.

A federal judge on Wednesday reversed the U.S. government's approval of ConocoPhillips' planned $6 billion Willow oil development in Alaska, citing problems with its environmental analysis, according to court documents.

It's a trend that's projected to continue throughout the week, GasBuddy Head of Petroleum Analysis Patrick De Haan told FOX Business.

Republicans are urging President Biden to reverse his decision to ask the Organization of the Petroleum Exporting Countries (OPEC) to produce more oil. 

John Catsimatidis, the billionaire owner and CEO of New York City supermarket chain Gristedes, warned on Tuesday that inflation is causing an “attack on America,” especially the poor and middle classes.

Oil prices rose on Tuesday, recovering from the previous day's losses, as investors sought bargains and on expectations that major producers will not boost supply soon, though fears of weaker global demand amid surging pandemic capped gains.

Twelve energy industry trade groups have filed a lawsuit in Louisiana challenging the Biden administration’s pause on oil and natural gas leasing for drilling federal lands and waters.

The Biden administration on Monday challenged a federal judge’s decision in June to block the Interior Department’s pause on oil and gas leasing on public lands and waters - a critical piece of its climate change policy - but will proceed with leasing during the appeals process.

Montana Gov. Greg Gianforte blasted President Biden on Monday for his energy policies and for the “horrendous” move to ask the Organization of the Petroleum Exporting Countries (OPEC) to produce more oil.

Gasoline prices in the U.S. hold near seven-year highs as the summer driving season nears an end.

Oil prices fell for a second day on Friday after the International Energy Agency warned that demand growth for crude and its products had slowed sharply as surging COVID-19 cases worldwide forced governments to revive movement restrictions.

GasBuddy Head of Petroleum Analysis Patrick De Haan forecasted that gas prices are close to hitting a peak and that prices will start to drop in September.

The White House is blaming OPEC for high oil prices yet domestic energy policies have penalized U.S. producers.

Exxon Mobil Corp. is considering a pledge to reduce its net carbon emissions to zero by 2050, according to people familiar with the matter, in what would amount to a significant strategic shift by the oil company.