Massive emergency oil release fails to stem investor fears as oil surges above $100 a barrel
CBSN
Stock futures slid and oil prices surged above $100 a barrel on Thursday as Iran continued its assaults on U.S. Gulf allies and tankers in the Persian Gulf, with a massive release of oil supplies by the International Energy Agency doing little to calm jittery investors. Edited by Aimee Picchi In:
Stock futures slid and oil prices surged above $100 a barrel on Thursday as Iran continued its assaults on U.S. Gulf allies and tankers in the Persian Gulf, with a massive release of oil supplies by the International Energy Agency doing little to calm jittery investors.
"Iran's strategy of sowing economic chaos in the Gulf is working as tankers come under attack and Hormuz stays shuttered, pushing Brent up toward $100," Adam Crisafulli, head of Vital Knowledge, said in a research note on Thursday.
The International Energy Agency (IEA), which includes 32 member countries, announced Wednesday that it would release 400 million barrels to shore up global supply, the largest release in the organization's history.
"The war in the Middle East is creating the largest supply disruption in the history of the global oil market," the IEA said in a statement Thursday.
President Trump also committed to releasing 172 million barrels of oil from the U.S. Strategic Petroleum Reserve on Wednesday.
A Ring camera in Manchester, Tennessee, captured a delivery that went viral and led to thousands of strangers helping change a man's life. In:
Washington — President Trump is taking questions from reporters ahead of a meeting with the Kennedy Center board of trustees on Monday, which is taking place as the third week of Iran war is underway. Tucker Reals contributed to this report. In:
As the war in the Middle East drives up energy prices, Americans are feeling the pinch at the gas pump. With elevated prices likely to stick around in the near future, experts say there are some practical steps drivers can take to stretch their fuel a little farther. Edited by Aimee Picchi In:
Gasoline prices inched higher on Monday with Brent crude remaining above $100 per barrel, as the Strait of Hormuz, a vital shipping lane for the global energy supply, remains paralyzed amid the Iran war. In:
Travelers continue to face long lines at airports across the U.S. due to the partial government shutdown affecting TSA agents. In:
A haunting whale song discovered on decades-old audio equipment could open up a new understanding of how the huge animals communicate, according to researchers who say it's the oldest such recording known. In:
Mexican authorities have arrested a suspected drug trafficker who played a key role in the raid that led to the death of Mexican drug lord Nemesio Oseguera last month, the defense ministry said on Sunday. In:
UConn edged UCLA as the No. 1 overall seed in women's NCAA Tournament when the bracket was announced Sunday night. In:
Americans eager for lower borrowing costs may have a long wait ahead of them. Edited by Alain Sherter In:
Gunnar Henderson and Roman Anthony homered and the United States limited the Dominican Republic's electric offense to win a thrilling semifinal 2-1 on Sunday and move one win from capturing its second World Baseball Classic championship. In:
The documentary "All the Empty Rooms," which memorialized children killed in school shootings through a look at the bedrooms they never returned to, took home the Oscar for Best Documentary Short at the 98th Academy Awards on Sunday. In:
A tie at the 2026 Oscars on Sunday marked a rare moment for the movie awards ceremony — the seventh time in the academy's history that two awards were given for one category. In:
