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The Latest Breaking News from Jim Krane

Iran has reopened the Strait of Hormuz—but experts say Iran has a card ‘like a nuclear deterrent’

Oil prices plunged 10% on Friday’s announcement, but two veteran energy analysts say the celebration might be premature.

Fortune

Stopgap measures aren't enough to halt rising gas prices as the world scrambles for more oil

Global leaders have been scrambling to contain the rising cost of oil and gasoline since the start of the Iran war

The Independent UK

Three weeks into the Iran war that's requested $200 billion, here’s what success for Trump might look like

The top priority remains reopening the Strait of Hormuz after the military offensive achieves enough success to weaken Iranian capabilities.

Fortune

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read the most diverse news in one place.

As Investment Drive Falters, Saudi Milks Aramco 'Cash Cow'

A fresh offering of shares in Saudi Aramco, the Gulf kingdom's largely state-owned oil behemoth, comes at a pivotal moment for sweeping economic reforms that have struggled to lure foreign investment.

International Business Times

Rising oil prices, surging inflation: The Arab embargo 50 years ago weaponized oil to inflict economic trauma – sound familiar?

Fifty years ago, a secret deal among Arab governments triggered one of the most traumatic economic crises to afflict the United States and other big oil importers.

The Conversation

Alaska oil project approval adds yet another climate concern

The Biden administration’s approval of a massive oil development in northern Alaska commits the U.S. to yet another decadeslong crude project

The Independent UK

US midterm elections: Five economic issues to watch

Inflation is on the minds of American voters as they head to the polls next month to decide who will control Congress.

Al Jazeera

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What OPEC's 2 million-barrel cut could mean for U.S. gas prices

OPEC and Russia are looking to prop up prices that have fallen greatly since early June.

Axios

Despite pain at the pump, Americans are hitting the road

Heading into the US summer driving season, Americans are fueling up but how long before they have to hit the brakes?

Al Jazeera

How the War in Ukraine Could Slow Texas’ Energy Transition

Europe’s demand for non-Russian energy is supercharging exports.

Texas Observer

Why Texas frackers won’t be riding to the rescue: It’s profit-taking time

The fracking revolution revived the energy industry in Texas and the U.S., ushering in years of cheap oil and gas. But don’t count on frackers riding to the rescue this time.

People

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