Oil

“The harsh reality for U.S. oil markets is that there is no switch that anyone can flip to suddenly turn on oil production overnight,” one expert told us.

The way U.S. oil refineries are set up has a lot to do with it.

For 15 years the EU has been talking about decreasing its dependence on Russia’s gas and oil, but it didn’t do it intime.

They’re high because oil producers aren’t ramping up supply quickly enough.

A court ordered the administration to resume the auctions it had suspended.

Officials are considering releasing oil from the strategic reserve. They’re also pushing the FTC to investigate possible price gouging.

So far, big oil companies are in the “not” camp.

Heating your home too. Propane futures are trading at roughly twice what they were the past two summers and retail prices are up as well.

OPEC and its allies are scheduled to meet Thursday as oil prices keep rising.

Pipelines have met increasing opposition, but persistent demand for crude may help them get approved.