Diesel prices in California have surged to $6.92 per gallon, significantly above the U.S. average of $5.36, driven by the ongoing Iran war and reduced refining capacity due to conflicts in Russia and Ukraine. California's unique factors, including strict environmental rules, lack of major fuel pipelines, and a shrinking fossil fuel industry, contribute to these high costs. Since nearly one-third of U.S. container imports and exports pass through California's San Pedro Bay port, elevated diesel prices there increase freight and transportation costs nationwide, pushing up prices for everyday goods. Experts warn these supply challenges and high diesel costs will persist, impacting the broader U.S. economy.
Exxon Mobil is close to returning to Venezuela's oil sector nearly two decades after its assets were nationalized by Hugo Chavez. The company is negotiating investments in oil fields in the Orinoco Belt, which have large geological oil estimates but ...
ExxonMobil has increased its stake and taken operatorship in Papua New Guinea's natural gas sector, positioning itself to benefit from premium gas prices in Asia. Alongside progress in Guyana with a new FPSO nearing first oil, ExxonMobil's strategy i...
The Vanguard Energy ETF (VDE) has gained 18.4% since mid-June 2026, driven by rising oil prices and geopolitical tensions disrupting supply. Key holdings like Exxon Mobil and Chevron benefit from favorable U.S. energy policies and supply challenges. ...
