Key Takeaways BP shut down its Olympic Pipeline following a leak identified near Everett on Nov. 11, 2025.The shutdown has disrupted refined product flows, including jet fuel to Seattle-Tacoma.Airlines adopted workarounds to keep flights operating despite constrained fuel supplies.BP plc (BP) , the London-listed oil and gas major, has shut down its Olympic Pipeline system after identifying a leak in the pipeline, following which jet fuel supplies to the Seattle-Tacoma airport have been affected. BP’s Olympi ...

Gasoline prices are easing as the Thanksgiving travel weekend kicks off. While the national average remains slightly above $3 per gallon, the average price per gallon in more than half of US states now falls below that mark, and a handful of stations are even offering regular unleaded for $1.99. The national price of gasoline sat at $3.05 per gallon on Tuesday, about the same as exactly one year ago, according to AAA data. Coastal states like California and Washington still carry prices above $4 per gal ...

January WTI crude oil (CLF26) today is up +0.26 (+0.45%), and January RBOB gasoline (RBF26) is up +0.0002 (+0.01%). Crude oil and gasoline prices recovered from early losses today and moved higher as stocks rallied sharply, signaling bullish confidence in the economic outlook and energy demand.  Gains in crude are limited by improving prospects for a peace deal to end the war in Ukraine, which could lead to the end of sanctions on Russian energy and boost global crude supplies. More News from Barchart ...

Oil bounced between gains and losses as traders weighed the prospect of a Ukraine-Russia peace deal that could deflate political risk from an already well-supplied market. West Texas Intermediate was trading near $58, little changed following its biggest weekly loss since early October. Ukraine and its European allies signaled that key sticking points remained in US-brokered peace talks to end Russia’s invasion, even as senior officials hailed progress in winning more favorable terms for Kyiv. Most Read ...

January WTI crude oil (CLF26) on Friday closed down -0.94 (-1.59%), and January RBOB gasoline (RBF26) closed down -0.0299 (-1.62%). Crude oil and gasoline prices tumbled to 4-week lows on Friday and settled sharply lower.  Friday's rally in the dollar index (DXY00) to a 5.5-month high is bearish for energy prices.  Crude prices also fell after Ukrainian President Zelenskiy said he would agree to work on a peace plan drafted by the US and Russia.  Crude prices recovered from their worst levels on Friday on ...

January WTI crude oil (CLF26) today is down -1.23 (-2.08%), and January RBOB gasoline (RBF26) is down -0.0362 (-1.96%). Crude oil and gasoline prices tumbled to 4-week lows today and are sharply lower.  Today's rally in the dollar index (DXY00) to a 5.5-month high is bearish for energy prices.  Crude prices are also falling after Ukrainian President Zelenskiy said he would agree to work on a peace plan drafted by the US and Russia.  Crude prices recovered from their worst levels today after Ukraine and it ...

A race is on among energy companies to build a major fuel pipeline to the U.S. West Coast, a potentially lucrative prize as the planned closure of two California refineries threatens to send gasoline prices in the isolated market soaring.Motorists in West Coast states have long paid some of the country’s highest fuel prices due to limited regional production and minimal connectivity to the Gulf Coast refining hub. There are no pipelines delivering fuel to California from across the Rocky Mountains and only ...

December WTI crude oil (CLZ25) on Thursday closed down -0.30 (-0.50%), and December RBOB gasoline (RBZ25) closed down -0.0137 (-0.71%). Crude oil and gasoline prices erased an early rally on Thursday and settled lower, with gasoline falling to a 2-week low.  Crude prices came under pressure on Thursday after Ukrainian President Zelenskiy said he would agree to work on a peace plan drafted by the US and Russia.  Also, a sharp reversal in stock prices on Thursday, which sent prices lower on the day, sparked ...

Pumpjacks are seen in oilfields along Highway 33, known as the Petroleum Highway, west of Buttonwillow, Kern County, California on April 9, 2025. US crude rallied more than 4% after US President Trump lowered tariffs on some of America's trading partners. (Photo by Frederic J. BROWN / AFP) (Photo by FREDERIC J. BROWN/AFP via Getty Images)AFP via Getty ImagesPresident Trump’s tariff strategy in his second term has touched almost every corner of the economy, but few sectors have felt the effects as unevenly a ...

Refining margins in the U.S, northwest Europe, and Asia have jumped to two-year highs as diesel and gasoline markets tighten with no sign of immediate relief. Refinery closures in recent years, planned maintenance after the summer, unplanned repairs due to outages, and Ukrainian attacks crippling Russia’s oil product exports have tightened the refined petroleum markets everywhere. Forecasters and traders expect a glut on the crude market to depress further benchmark crude futures going into 2026, but th ...