When the oil supertanker Esteem Explorer sails from the United States to Japan in late November, loaded with about 2 million barrels of crude, the journey will cost $81 million. The same journey would have cost $9.1 million last year, on average.

The U.S. is reportedly threatening to ban exports of diesel fuel to parts of Europe, unless countries like Germany and France release more of their diesel reserves.

The U.S. is reportedly threatening to ban exports of diesel fuel to parts of Europe, unless countries like Germany and France release more of their diesel reserves.

The price of oil surpassed $100 a barrel for the first time since July after attacks on oil facilities and ships in the Middle East threatened an already weakened supply chain.

The price of oil surpassed $100 a barrel for the first time since July after attacks on oil facilities and ships in the Middle East threatened an already weakened supply chain.

NEW YORK: Oil prices climbed in early trading Wednesday, building on the previous session’s sharp gains, as overnight military exchanges between the United States and Iran escalated tensions in the Middle East and revived fears of supply disruptions through a critical global shipping chokepoint. Brent crude futures rose $1.03, or 1.1%, to $95.68 a barrel ... Read more

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Oil prices rose more than 2% Monday after the United States attacked an Iranian island in the Strait of Hormuz and drew retaliation from Tehran, as the six-month-old conflict between the two countries showed no signs of easing. Brent crude futures climbed $2.21, or 2.51%, to $90.31 a barrel as of 0436 GMT. U.S. West ... Read more

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