oil

“It’s a very, very high bill.” Shirlee Thurston’s latest heating oil bill is a frightening prospect only weeks before Halloween and the arrival of the winter months. “Close to like $550, $560 on top of everything, yeah,” she explained. Oil prices are on the rise. This week, a gallon of home heating oil in Massachusetts sold on average for $5.71…

Massachusetts gas prices are increasing again, according to data from AAA Northeast, though they still remain lower than they were a month ago. Gas prices in the state are up 4 cents from last week, averaging $3.60 per gallon. That price remains 10 cents lower than a month ago, when the average was $3.70, and 28 cents lower than the…

New England governors are asking Congress to support at least $500 million in emergency funds to help address the forecasted spike in home energy bills. In a letter Monday to Congressional leaders who are preparing a continuing resolution for the start of fiscal 2023, the region’s governors noted that home energy bills “likely will be exacerbated this winter as a…

For the first time since March the national average for a gallon of gasoline has fallen below $4.

With energy costs contributing mightily to explosive inflation, AAA Massachusetts on Monday reported another price drop in that sector. The average gas price in Massachusetts fell 11 cents over the past week to $4.63 per gallon, which is 38 cents per gallon lower than a month ago. AAA analysts said the falling prices are due to a “lower domestic demand…

You’re probably seeing some of the highest energy bills you’ve seen in years, and if you’re a college student, or thinking about going to college, soaring energy prices may impact you in more ways than you’d like. In the U.S., the cost of natural gas was 24 percent higher in February 2022 than it was in February 2021. And...

Is there any connection between surfing, student loans and grocery bags? NBC San Diego’s Dana Williams tries to find out in this episode of Connect the Dots.

Western allies have targeted Russia’s lucrative energy sector in an attempt to punish Moscow for its invasion of Ukraine, but the move is a self-sacrificing one. Energy bills and gasoline prices have been high for months, and governments have been cutting taxes and tapping into reserves in a bid to spare their citizens. Even so, energy consumers are feeling...

The White House on Thursday announced that the U.S. will release 1 million barrels of oil per day from strategic reserves.

The meeting comes more than a month after Russia launched its invasion of Ukraine.

Brent crude futures fell 5% early Thursday, while U.S. crude futures slid over 6%.

Even before Russia invaded Ukraine, the fuel that runs the global economy was in short supply.

Saudi Arabia’s energy minister has said OPEC+ will keep politics out of its decision-making in favor of the “common good” of stabilizing energy prices.

Sanctions on Russia are likely to lead to higher prices, and Middle East nations don’t seem ready to increase supply, said Helima Croft of RBC Capital Markets.

In 2021, the European Union imported 155 billion cubic meters of natural gas from Russia, according to the International Energy Agency.

“I will not give them for free to Mr. Putin,” TotalEnergies CEO says of the company’s Russian assets.

The Iran-backed Houthis claimed they were behind the strike with a military spokesperson adding that they had also used drones to hit the Ras Tanura and Rabigh refineries, according to Reuters.

A new Cold War will pose a new challenge to a market that is still recovering from the uncertainties of the pandemic.

More drivers could pay over $5 and even $6 a gallon for unleaded in the peak summer driving season this year.

The European Union is unlikely to impose an immediate oil embargo on Russia over its unprovoked invasion of Ukraine, according to two CNBC sources with knowledge of the discussions.