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Facing tough midterms, Biden releasing oil from U.S. reserve

October 20, 2022

The withdrawals have sent the nation’s strategic reserve to its lowest level since 1984 in what the administration called a “bridge” until domestic production could be increased.

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OPEC+ makes big oil cut to boost prices; pump costs may rise

October 5, 2022

Associated Press

The alliance of oil-exporting countries on Wednesday decided to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S. drivers just ahead of elections.

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Trump says ceasefire on ‘life support’ as Iran standoff deepens, strait remains closed

May 11, 2026 | Associated Press

The stalled diplomacy and recent exchanges of fire could tip the Middle East back into open warfare and prolong the worldwide energy crisis sparked by the conflict.

Oil prices sink, stocks rally worldwide on hopes for reopening Strait of Hormuz

May 6, 2026 | Associated Press

Oil dropped as President Donald Trump said the Strait of Hormuz could be “OPEN TO ALL” if Iran accepts a reported agreement that the U.S. president did not detail.

Rising oil prices affect costs beyond the gas pump

April 22, 2026 | Associated Press

Petrochemicals derived from oil and natural gas go into making more than 6,000 consumer products, according to the U.S. Department of Energy.

Oil plunges below $95 and Dow surges 1,300 in worldwide rally following ceasefire with Iran

April 8, 2026 | Associated Press

The next moves for oil prices will depend on how many oil tankers can start exiting the Strait of Hormuz and how easy their passage is.

Trump issues fiery new threat against Iran if it doesn’t open Strait of Hormuz

April 5, 2026 | Associated Press

Trump has issued such deadlines before but extended them when mediators have claimed progress toward ending the war.

Stocks rally and oil sinks after Trump hints at possible end to war, even as Iran denies talks

March 23, 2026 | Associated Press

A cautious relief swept through financial markets Monday after President Donald Trump said the United States has talked with Iran about a possible end to their war.

US to release 172M barrels of oil from Strategic Petroleum Reserve as part of effort to combat prices

March 11, 2026 | Associated Press

President Donald Trump previously downplayed the importance of using reserve oil, but confirmed earlier Wednesday that his administration would “reduce it a little bit” and then fill it back up.

International Energy Agency agrees to record release of emergency oil reserves

March 11, 2026 | Associated Press

The organization said it will make 400 million barrels of oil available from its members’ emergency reserves in a bid to counter the effects on energy markets of the war in the Middle East.

Inflation held steady last month, before attack on Iran sent energy costs soaring

March 11, 2026 | Associated Press

Even if oil price increases are short-lived, it will almost certainly delay any interest-rate cut by the Federal Reserve, which meets next week.

Oil prices ease and Trump says war will ‘be ended soon’

March 9, 2026 | The Washington Post

Oil prices rebounded from nearly $120 per barrel, their highest since 2022, back below $90 on Monday.

US stocks rebound after strong economic updates, easing of oil prices

March 4, 2026 | Associated Press

Uncertainty about the war has sent prices in financial markets careening up and down hour by hour this week, with most taking their cues from what the price of oil is doing.

Energy prices surge as tanker disruptions, facility shutdowns rattle global supply

March 2, 2026 | Associated Press

Oil prices rose sharply Monday as disruptions to tanker traffic through the Strait of Hormuz raised uncertainty about how U.S. and Israeli attacks on Iran would affect supply to the world economy.

Trump’s plan to seize, revitalize Venezuela’s oil industry faces hurdles

January 4, 2026 | Associated Press

President Donald Trump said he plans to ask American companies to take over Venezuela’s oil industry after capturing President Nicolás Maduro in a raid.

Biden EPA to charge first-ever ‘methane fee’ for emissions waste by oil, gas companies

November 12, 2024 | Associated Press

The new fee is intended to encourage industry to adopt best practices that reduce emissions of methane—the primary component of natural gas—and thereby avoid paying.

Chevron buying Hess for $53B in latest oil megadeal

October 23, 2023 | Associated Press

The Chevron-Hess deal comes less than two weeks after Exxon Mobil said that it would acquire Pioneer Natural Resources for about $60 billion.

Corporate 100: Long-established CountryMark experiences fast growth

June 16, 2023 | Barb Berggoetz / Special to IBJ

It’s a rare feat for an established company to nearly double its revenue in one year—from $1.3 billion in 2021 to nearly $2.2 billion in 2022. That revenue ranked the company as Indiana’s sixth largest private company, according to IBJ research.

Saudi Arabia slashing oil supply, could drive up gas prices

June 4, 2023 | Associated Press

The Saudi cut of 1 million barrels per day, to start in July, comes as the other OPEC+ producers agreed to extend earlier production cuts through next year.

Oil producers’ cuts could boost gasoline prices, help Russia

April 3, 2023 | Associated Press

Less oil flowing to refineries should mean higher gasoline prices for drivers and could boost the inflation hitting the United States and Europe.

Saudis, other oil giants announce surprise production cuts

April 2, 2023 | Associated Press

The cuts total up to 1.15 million barrels per day from May until the end of the year, a move that could raise prices worldwide.

Shortage of cooking oil looms as biofuels gain global appeal

March 22, 2023 | Bloomberg News

From the U.S. to Brazil and Indonesia, governments are embracing energy made from plants like soybeans or canola, or even animal fat, to move away from fossil fuels and cut emissions.

MAY 22-28, 2026

Digital Edition

Lilly goes on $21B buying spree to build drug pipeline

Daniel Bradley

Health care summit uses IMS to draw together leaders from across sector

Tom Murphy / Special to IBJ

Q&A with Schahet Hotels CEO Jeffrey Brown about collaboration with Ball State

Dave Lindquist

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