The Odessa American is the leading source of local news, information, entertainment and sports for the Permian Basin.

Oil prices are falling after the tensions calmed in the Middle East.

In the event, Monday proved a turning point. Tehran didn’t close the strait. Instead, it fired missiles on a nearly empty ...

An economist has warned Brits about a potential surge in oil prices if Iran decides to follow through with one particular ...

National average gas prices reached a four-year low, with analysts projecting stability through the Independence Day holiday ...

Tehran said it may shut the Strait of Hormuz, a key maritime trade route, in retaliation for recent attacks on its nuclear facilities. How come it has not gone through with the blockade?

Douglas McIntyre, Editor-in-Chief at Climate Crisis 24/7, explains the serious global consequences of Iran potentially ...

Thus, the world saw a price spike which, despite being widely predicted by many smart people, didn’t happen, and the reasons ...

In the end – the market and investors are betting on the continued progress of trade and de-escalation in hot spots around ...

EVERYONE, KEEP OIL PRICES DOWN. I’M WATCHING! YOU’RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON’T DO IT!” President ...

"By closing the Strait of Hormuz, Iran will simply shoot itself in the head. First, in such a case, Iran would simply have ...

A blockade of the Strait of Hormuz could affect a number of Asian countries, making renewable energy capacity a crucial guard against volatility.