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Imports of Venezuelan heavy crude doubled in the week leading up to March 13, reaching the highest since late 2024, according to U.S. government data.

The meeting will take place at the American Petroleum Institute and involve members of the U.S. oil and gas trade group’s board, according to sources.

Tehran warned of imminent retaliation against refining, petrochemical and natural gas assets in the region after its own giant South Pars gas field was struck.

Those fossil fuel savings are expected to increase every year for the rest of the decade as more drivers turn to battery-powered vehicles.

The Labor Department reported March 18 that its producer price index rose 0.7% from January, and 3.4% from February 2025. 

The president on March 18 authorized foreign-flagged vessels to transport a range of commodities between U.S. ports for the next 60 days.

The Iran war has rattled the global flow of oil, with steeper fuel costs already straining households worldwide.

The shipping disruption has largely stopped the export of nitrogen fertilizers made in the Persian Gulf and limited access to fertilizer ingredients.

Iran has threatened it won't allow “even a single liter of oil” destined for the U.S., Israel and their allies to pass through Strait of Hormuz.

The moves include issuing more individual licenses allowing foreign companies to work in Venezuela without violating U.S. sanctions.