Oil

Two key reports on inflation, the CPI and PPI, are due this week as are a host of quarterly earnings, including Disney, Tyson Foods, Beyond Meat, Rivian and UPS.

The national average price of gas increased 11 cents per gallon for the week ending August 3, AAA reported. But Americans could soon see lower prices at the pump as summer draws to a close.

Saudi Arabia is extending oil production cuts through the end of September in an effort to raise lagging prices, though analysts fear the move will raise gas prices in the U.S.

Gas prices are climbing – up nearly 30 cents from a month ago – due in part to high temperatures, which is hurting refinery production, according to an industry expert.

Continental Resources Chairman Harold Hamm criticized the Biden administration's policies restricting oil and gas development on federal lands for contributing to inflation.

Billionaire and Continental Resources chairman Harold Hamm argues energy independence leads to world peace, but President Biden wants to "cancel all fossil fuels."

Temps are soaring across the nation, challenging refineries, while the price of oil is rising. The combination may result in higher prices in the middle of the summer travel season.

Big tech like Meta will begin reporting next week alongside a string of oil producers like Chevron and economic data including the U.S. Federal Reserve’s interest rate decision.

The national average price for gas rose to $3.58 for the week ending July 20, AAA reported. Gas price bumps can add to overall auto costs, but there are ways to lower these expenses.

Indonesian maritime authorities on Tuesday have announced the captured of an Iranian-flagged ship accused of carrying out an illegal oil transfer at sea.

The average price for a gallon of gas was $3.52 for the week ending July 6, AAA reported. And overall lower gas prices are encouraging Americans to seek road trips this summer. But inflation, high interest rates and recession fears may hold them back.

Russia and Saudi Arabia announced an extension to cuts in oil production on Wednesday, but prices for crude oil dropped 1% despite the move, analysts say.

A federal judge in Wisconsin ordered energy company Enbridge on Friday to remove any sections of its Line 5 oil pipeline from a tribe's land in the state following a lawsuit.

Companies that insure the U.S. LNG industry are facing more pressure from climate activists, which could backfire on consumers.

The Net Zero Stocktake 2023 report found that many companies and sub-national governments with "net-zero" emissions targets lack clear criteria or plans for reaching those goals.

Goldman Sachs lowered its 2023 outlook for crude prices by almost 10% citing a number of factors, even after Saudi Arabia's surprise production cut took the global markets off guard.