Brent topping $117 for the first time since April reflects escalating Middle East hostilities that traders fear could disrupt supply through the Gulf.

Rising crude prices fed through to equities, with the Dow down more than 600 points as investors weighed the inflation hit from energy costs.

The emergency drawdown aims to keep crude flowing to a Louisiana refinery while prices climb above $117 and the reserve sits at its lowest level since 1982.

The president's remarks come as retail gasoline averages around $4.29 a gallon and energy costs become a midterm political issue.

War-related inefficiency has sent freight costs to record highs, upending economics for long-haul crude and fuel oil shipments.

Berlin is selling crude, diesel and heating oil from strategic stocks while pushing to preserve refining capacity amid market stress.

The talks highlight growing Gulf interest in U.S. liquefaction capacity as global LNG supply risks rattle markets.

The move uses emergency authority to keep refineries operating as pump prices weigh on consumers ahead of midterms.

The report details undisclosed financial arrangements tied to a major Alaska gas development discussed in U.S.-Russia talks.

Baker Hughes data showed the total rig count unchanged for a second week while crude prices climbed, a sign producers are not rushing to add capacity.

The shallow-water find supports India's push to expand domestic gas output and reduce import reliance.

The result advances Chevron's Eastern Mediterranean gas exploration activity in Egypt.

Regulators are examining a rapid oil futures sell-off executed shortly before Trump backed away from threats to strike Iranian power plants.

Post-conflict reconstruction and government plans could return Syrian hydrocarbons to regional markets.

Britain's dependence on imported natural gas is expected to grow, raising supply security concerns for the heating season.

Elevated gasoline and diesel prices have translated into strong quarterly profits for refiners.

The financing supports electricity infrastructure modernization in Sao Paulo and Mato Grosso do Sul.

The decline at Europe's key supplier comes as the continent braces for winter demand.