Oil prices on Friday hit their highest point since May as the war in Iran drags on. As of Friday morning, futures for international benchmark Brent crude were trading at $116 per barrel, while U.S benchmark West Texas Intermediate traded at about $102. The high prices come as the war in Iran nears the eight-month…

A first tanker carrying Russian diesel to the United States under a new import agreement has set sail, the Kremlin said Friday, two weeks after President Donald Trump said he struck a deal with President Vladimir Putin despite Moscow's invasion of Ukraine.

President Trump invoked the Defense Production Act on Thursday, announcing that the government would be spending $150 million toward boosting domestic gas and diesel production as the White House looks to ease consumer pain at the gas pump. The announcement was made in a presidential memorandum earlier Thursday, but the president detailed the exact amount…