U.S. Economy

The Biden administration moved closer Thursday to a final decision on offshore oil and gas drilling which could lead to a scenario without any lease sales on federal waters through 2028.

Senior account executive Phil Flynn of Price Futures Group discusses how the move by OPEC to lower oil prices may affect gas prices in the United States.

Fox Business host Larry Kudlow breaks down the impact of Joe Biden giving OPEC back our powerhouse title while Americans continue to pay high gas prices on 'Kudlow.'

The White House is hoping transitions to clean energy and continued dips into the strategic oil reserves will help offset OPEC's decision to cut back oil production.

Bankrate's survey finds Americans are considering shortening their holiday trips, engaging in less expensive activities, or opting for cheaper lodging and travel destinations.

Europe gears up for a long winter after feeling the bite of sanctions imposed against Russia due to Russia's unlawful invasion of Ukraine back in February.

President Biden said he will release 10 million barrels from the Strategic Petroleum Reserve in November to counter the OPEC+ oil cuts.

Louisiana Treasurer John Schroder informed BlackRock that his state would divest nearly $800 million from the firm's funds over its and ESG policies.

Congressional lawmakers blasted the United States's continued reliance on foreign energy after OPEC+ agreed to slash oil production by more than two million barrels a day.

Ministers from OPEC+ on Wednesday said they would cut oil production by 2 million barrels a day in a move expected to raise gas prices.

The European Union agreed to hit Moscow with another round of sanctions and issue a price cap on Russian oil exports in an attempt to target its war chest.

Consumers should gear up for higher gasoline prices as a result of foreign oil production cuts and a series of domestic factors that are limiting supplies, according to energy analysts.

Oil industry leaders wrote a letter to Energy Secretary Jennifer Granholm on Tuesday, urging her to take an oil export ban off the table amid high energy prices.

Oil prices climbed as much as 4% Tuesday, topping $86 per barrel level. Meanwhile, the national average gas price is currently sitting at $3.80 per gallon, according to AAA.

Nearly a week after Hurricane Ian made landfall, more than 435,000 Florida customers are still without power. Damage from the storm knocked out power for millions.

A pair of lawmakers in New Jersey want to make Costco gas accessible to everyone, not just members. The warehouses are known for offering gas at cheaper prices than other retailers.

The "October effect" has historically garnered fears that fall's first full month will be bad for markets, having historically seen some of the country's largest crashes.

California implementing a windfall tax on oil companies would be harmful, FOX Business contributor and Price Futures Group senior market analyst Phil Flynn said.

United Refining Company CEO John Catsimatidis explained why Russia and the OPEC nations are pushing for higher oil prices and how much Russia stands to gain.

Exxon Mobil CEO Darren Woods is pushing back against Energy Secretary Jennifer Granholm's and the Biden Administration's misguided energy and trade policies.