Crude and gasoline futures both climbed to levels not seen since before the pandemic as Hurricane Laura rattled toward a key stretch of the U.S. Gulf Coast that is home to the nation’s greatest concentration of refining capacity.

The U.S. seized four tankers carrying Iranian gasoline bound for Venezuela in an unprecedented move by the Trump administration that carries the potential to destabilize global oil shipments if Iran retaliates.

A sharp rebound in gasoline consumption that helped to drive oil prices higher appears to be running out of steam, a development that should be a cause for concern across the petroleum industry.

Gig-economy deliveries for groceries, alcohol and other goods look to be driving a nascent recovery in U.S. gasoline demand after the lowest plunge in almost 30 years.

Seven & i Holdings Co. scrapped plans to acquire Marathon Petroleum Corp.’s Speedway gas stations for $22 billion, according to sources familiar with the matter, ending a deal that would have been among the world’s biggest this year.

WASHINGTON — Surging gasoline prices caused U.S. consumer prices to rise last month at the fastest pace since March.

U.S. exporters are increasingly relying on trucks to get fuel into Mexico as the country’s gasoline production sags and infrastructure constraints limit shipments from one coast to the other.

The U.S. average retail price of diesel dropped by 1 cent to $3.034 a gallon, the Department of Energy reported July 29.

The U.S. average retail price of diesel dropped 0.1 cent to $3.042 a gallon, the Department of Energy reported July 1. Crude oil prices remained near $58 a barrel after touching $60 earlier in the day.

The busiest U.S. fuel pipeline is running below capacity, as Gulf Coast refiners get fatter margins exporting to Latin America than shipping to New York.