Oil

Houthis Strike Dutch Cargo Ship in Gulf of Aden, Escalate Threats Against U.S. Oil Firms

Yemen’s Iran-backed Houthi rebels claimed responsibility Wednesday for a cruise missile attack that left a Dutch-flagged cargo ship ablaze and adrift in the Gulf of Aden. The strike, which seriously damaged the Minervagracht and injured two crew members, marked the most significant escalation in months by the group outside the Red Sea corridor.

Houthis Threaten U.S. Oil Giants with Deadly Attacks

The Iran-backed Houthi insurgents in Yemen have announced so-called “sanctions” against 13 major American oil companies, including ExxonMobil, Chevron, ConocoPhillips, and Marathon Petroleum. The announcement was made Tuesday through the group’s “Humanitarian Operations Coordination Center,” a front used by the militants to issue threats under the guise of diplomatic language.

Trump Pressures Erdogan to Stop Buying Russian Oil, Calls for United Front Against Moscow’s Energy Trade

President Donald Trump used his Thursday White House meeting with Turkish President Recep Tayyip Erdogan to push Turkey to halt purchases of Russian oil, warning that continued energy imports undermine global efforts to end the war in Ukraine.

California Scrambles to Keep Oil and Gas Companies From Leaving

California passes law allowing 2,000 new oil wells per year in Kern County to stop the oil and gas exodus.

Newsom Opens More Oil After Companies Flee State

California Governor Gavin Newsom signed legislation that claims to lower electricity costs for the state and stabilize its gasoline supply.

Trump Demands NATO Halt Russian Oil Purchases

President Trump demanded that NATO allies pause their purchases of Russian oil as the president is considering new sanctions against the country.

Trump Admin Revives Offshore Drilling With Massive Lease Sales

The Trump administration is charging forward with a major expansion of offshore oil and gas leasing, reversing Biden-era restrictions and signaling a renewed push for American energy dominance. The Interior Department’s Bureau of Ocean Energy Management (BOEM) announced a detailed lease sale schedule covering the Gulf of America and Alaska’s Cook Inlet.

Commingling Rule Overhaul Fuels America’s Energy Independence

Federal regulators have updated oil and gas commingling rules to align with the One Big Beautiful Bill Act. The Department of the Interior aims to strengthen domestic energy production by cutting red tape and streamlining operations, while maintaining safety and efficiency standards. Energy advocates praised the move as a victory for American workers and families.

Sochi Oil Depot Erupts After Ukrainian Drone Strike

A Ukrainian drone strike overnight ignited a major fire at an oil depot near the Russian Black Sea resort of Sochi, intensifying the ongoing conflict as both sides continue to exchange strikes across the region. Russian officials confirmed the attack Sunday, marking yet another escalation amid growing international pressure for a ceasefire.

California Scrambles to Save Benicia Refinery Amid Mounting Fuel Supply Fears

California officials are taking the rare step of seeking a buyer for Valero Energy's Benicia refinery, slated to shut down by April 2026.

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