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.

As global oil supplies continue to tighten up amid ongoing geopolitical conflicts that have pushed up fuel prices, the governor of Texas has declared a state of emergency.

As global oil supplies continue to tighten up amid ongoing geopolitical conflicts that have pushed up fuel prices, the governor of Texas has declared a state of emergency.

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.