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.
Chevron shares have surged over 42% in 2026, approaching a 52-week high near $212. Strong Q2 earnings, production growth, and debt reduction support the rally, but the stock trades above its price target of $204.67, suggesting limited upside. Bulls p...
ExxonMobil reported strong Q2 2026 results with earnings more than doubling and free cash flow reaching $17.2 billion, overcoming challenges from Middle East disruptions. Growth in Guyana and the Permian Basin, along with global trading, helped offse...
ExxonMobil maintains a buy rating due to strong free cash flow, disciplined capital spending, and attractive valuation. In Q2, the company achieved record upstream production, generated $18.9 billion in free cash flow, and returned $5.1 billion to sh...
The US Pentagon has acquired a 35% equity stake in North American Blue Energy Partners (NABEP), a private oil company granted concessions to 65 billion barrels of Venezuelan crude reserves, making it potentially the world's second-largest oil company...
