(Natural News) The Libyan National Oil Corporation (NOC) has announced force majeure on crude exports from its oil terminals amid ongoing blockades of production and ports that have seriously crippled Libya’s oil exports. Force majeure refers to an unforeseen set of circumstances preventing a party from fulfilling a contract. The announcement came after weeks of protests and closures amid […]

(Natural News) Gas prices have been increasing in the United States, but diesel has been worse — and fears of a diesel shortage this year are causing concern because it is not just retail prices that are rapidly rising: reports of farmers booking off-road diesel for farm use have been trending above the $5 mark […]

(Natural News) The European Union (EU) is eyeing to ban all imports from Russia, the world’s second largest crude exporter, to help cripple the country’s war efforts on Ukraine. Imposing the new sanctions against Russia over the Ukraine war would require the unanimous support of all 27 bloc member states. Hungary, which is heavily reliant […]

(Natural News) Widespread diesel shortages will affect everything in America from the food supply to manufacturing and services. Refiners in the United States are now receiving an average of over $150 per barrel from the sale of gasoline and diesel at wholesale prices, while paying only around $100 to purchase crude. It suggests a margin of around $50 […]

(Natural News) The increase in diesel price has raced past that of gasoline. Data from the Department of Energy‘s Energy Information Administration (EIA) showed that diesel price has jumped a staggering 42.8 percent while the price of gasoline has increased 25 percent from the beginning of the year. Given the enormous role of Russia as a […]