Energy Prices Spike as Producers Worry Over Pandemic and Climate

Even as more costly fuel poses political risks for President Biden, oil companies and OPEC are not eager to produce more because they worry prices will drop.

Oil prices near a three-year high as an energy crunch looms.

Analysts say soaring natural gas prices are helping push oil futures higher, as Brent crude briefly topped $80 a barrel.

Rising Oil and Gas Prices Add to U.S. Economic Challenges

Experts say a period of costlier fuel is likely to be brief. But if consumers start to assume otherwise, it could mean problems for Biden and the Fed.

Behind the Clash at OPEC: Growing Competition in the Gulf

The United Arab Emirates wants to pump more oil, annoying its giant rival, Saudi Arabia.

OPEC and Allies Hold the Cards as Prices and Demand Rise

In the short run, trends in the oil market may be favoring large producers like Saudi Arabia and Russia.