Between tariffs roiling the global economy and OPEC putting more barrels on the market, prices have dropped significantly since January. That's good for consumers, and bad for oil companies.

Oil prices are at their lowest levels since the spring of 2021. At Thursday's close, a barrel of West Texas Intermediate crude was $59 a barrel, down from $74 at the start of January. The last ...

Gas prices in the US are averaging about $3.12 per gallon, and could drop below $3 this summer as oil trades at the lowest level since 2021.

Hurt by weakening demand and depressed prices, US oil output is expected to shrink in 2026 for the first time since the Covid-19 pandemic and just the second time in the past decade.

Oil producing countries are bracing for a bumpy ride this year, with a precipitous drop in prices to the lowest levels in four years seen as the initial, alarming sign of looming turmoil.

Oil prices surged Friday after the Israeli Defense Forces (IDF) launched a sweeping strike on Iran's nuclear facilities and military leaders. U.S. West Texas Intermediate prices climbed around 6% ...

On Long Island, the drop in oil prices means significantly lower gas prices than a year ago, according to AAA. The price per gallon on Long Island was $3.03 on average on Tuesday.

The recent bounce in oil prices may prove temporary unless fundamental demand picks up. Futures markets, showing flat to slightly declining prices, seem to reflect that skepticism. Mamdouh Salameh ...

In 2020, oil prices famously collapsed—briefly even turning negative—not because the economy was booming, but because the COVID-19 pandemic had triggered a global shutdown.

Michigan gas prices jumped up in the past week, landing at $3.21 a gallon. Trump claims — again — he brought gas prices "down to $1.98 in many states." Analysts have said low oil prices could ...

Crude oil prices capped their worst monthly drop since November 2021 as fears over a global economic downturn and demand shock as a result of tariffs come as the supply of oil is about to surge.