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High tariffs, stubborn inflation, government shutdowns, war with Iran, rising oil prices — nothing in the turbulent past year has poked a hole in a seemingly unsinkable U.S. economy.
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Crude output has risen to highest level since 2013 as demand soars to replace lost barrels from the Gulf
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Ukraine is hitting oil facilities deep inside Russia. Soaring fuel prices could blunt the impact AP NewsRussian Offensive Campaign Assessment, May 1, 2026 Institute for the Study of WarRussian Tuapse Oil Terminal Fire Extinguished After Attack Bloomberg.comBlack Sea town faces environmental catastrophe as Ukrainian strikes rock Russia NBC News
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Concerns about high oil prices are adding to inflation fears in Japan, as the BOJ just moved to rescue the yen from a roughly 40-year low.
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Spirit Airlines prepares to cease operations amid financial struggles and high oil prices The GuardianSpirit Airlines Prepares to Shut Down as Rescue Deal Falls Apart WSJWhat passengers need to know about Spirit Airlines CNNSpirit Airlines Prepares to Shut Down After Trump Administration Bailout Falls Through The New York TimesTrump gives Spirit final rescue proposal as airline prepa
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American producers are under pressure from investors to keep spending in check, and they are wary of drilling more wells because they are not sure oil prices will stay high.
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Big Oil Bosses Warn Energy Is Moving Closer to Cliff's Edge Bloomberg.comExxon Mobil CEO expects higher oil prices due to Iran war: ‘The market hasn't seen the full impact' CNBCExxonMobil and Chevron earnings fall, but bigger profits are on their way because of soaring oil prices CNNExxonMobil Announces First-Quarter 2026 Results Exxon Mobil Corporation
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S&P 500 closes at a new record to usher in May as oil prices cool and Apple rises: Live updates CNBCFast-Money Trades Roar as Wall Street Climbs Wall of Worry Bloomberg.comIt was another wild month for markets. Here's what it means for you CNNOil Price Hits Wartime High Above $120 a Barrel as Iran War Standoff Continues The New York Times
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The April 7 high of $113 in Western Texas Intermediate crude futures will likely be broken, traders on the prediction markets platform think.
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Yes, higher crude oil prices mean a multibillion-dollar cash infusion to the oil industry. But volatility is bad for business, and sustained high prices come with very serious drawbacks.
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