The world may not be running out of crude oil, but it could still face higher prices for diesel and petrol. The latest escalation in the conflict involving Iran has shifted attention from oil production to a different problem: the ability to turn crude into usable fuels.

Global oil prices on Tuesday notched their largest two-day rise since mid-March, buoyed by further escalation in the U.S.-Iran conflict.

For decades, OPEC influenced the market by how much oil it produced. But China, the largest importer, is demonstrating its remarkable power over prices.

Gasoline prices rose for the first time in nine weeks amid renewed geopolitical tensions. As of July 13th, weekly gasoline prices were up 8 cents for regular and

Brent, the international oil benchmark, reached $87 per barrel on Tuesday after Trump said he'd impose a 20% toll on ships in the Strait of Hormuz.

Oil prices are climbing Monday following a weekend of attacks in the Middle East, while more losses for computer chipmakers and

By Ishaan Arora and Emily Chow SINGAPORE, July 14 (Reuters) - Oil prices rose nearly 3% on Tuesday to their highest in four weeks, as the U.S. reimposed its naval blockade of Iran while the two countries stepped up attacks in the Strait of Hormuz,

Stock futures pointed in different directions Tuesday as rising energy prices, bank earnings, and key inflation data competed for investor attention

Stocks fall and oil prices rally, while government bond yields rise, after US and Iranian forces renewed exchanges of heavy missile and drone assaults, with Tehran saying it had again closed the vital Strait of Hormuz.