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The Latest Breaking News from Mike Sommers

US emergency oil stockpile plunges to lowest level since Reagan era amid West Asia war

America's emergency oil reserve has fallen to its lowest point since 1983. This significant drop follows extensive releases to manage economic impacts from global conflicts. Officials express concern about operational capacity and vulnerability to weather disruptions. The reserve's current low level raises alarms for future energy security.

The Economic Times

Oil prices rise as Iran war escalates with Houthi attacks

The increase came as the war moved into its fifth week, showing little sign of abating.

Axios

‘Oligarchy’: Trump exempts big oil donors from tariffs package

Trump’s new 10% universal tariffs will not apply to many fossil fuel products in sign of his fealty, advocates say

The Guardian - US

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Donald Trump picks climate change sceptic Chris Wright as US energy secretary

Appointment of fracking chief follows Elon Musk and Robert F Kennedy being given top roles

Evening Standard

Trump names fossil fuel executive Chris Wright as energy secretary

President-elect Donald Trump has selected Chris Wright, a campaign donor and fossil fuel executive, to serve as energy secretary after his second administration begins in January

The Independent UK

Big Oil Is Unhappy With The EPA's New Rules

Today on Critical Materials: Big oil isn't happy with the EPA's new rules, Ford allows dealers list EVs below MSRP, plus a recall for Hyundai and Kia EVs

InsideEVs

Long lines at gas pump unlikely, but Middle East crisis could disrupt oil supplies, raise prices

Fifty years after the 1973 Arab oil embargo, the current crisis in the Middle East has the potential to disrupt global oil supplies and raise prices

The Independent UK

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