Oil

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.

Oil prices climbed to the highest level so far this year

Oil prices jumped as the U.S. said it won't extend waivers to buy Iranian crude oil for Turkey, South Korea, China, India and Japan when those waivers expire in early May.

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

Brent crude futures settled at $71.97 a barrel, up 35 cents from their last close and near Wednesday's five-month high of $72.27.

Brent crude rallied to its highest level this year early in the session.

Adding downward pressure were concerns about Russia's willingness to stick with OPEC-led supply cuts and expectations of higher U.S. inventories.

Warren's stance on public lands contrasts starkly with that of President Trump.

The move will make Chevron neck-and-neck with Exxon and Royal Dutch Shell.

The facts are that the U.S. needs to add pipeline capacity to take advantage of the American energy revolution.

NEW YORK (Reuters) - Oil prices fell on Thursday after sources said OPEC may raise output from July if Venezuelan and Iranian supplies fall further and prices keep rallying.