A fifth of the world's oil travels through the narrow waterway.
Drivers buy less gas when filling the tank burns holes in their wallets.
Vladimir Putin may well have something on Donald Trump. But their close ties could also be about oil prices and Trump's efforts to get Russia to ends it alliance with China.
Not only does U.S. law bar price-fixing, there are bipartisan efforts underway to make it possible to sue OPEC members in American courts for antitrust violations.
Oil prices have little to do with supply or demand or even economic forces. Instead, it's all about politics.
Our research on the oil cartel shows, that it really matters whether OPEC members 'failed to agree' or 'agreed to disagree'.
The connection between oil and arms trade is not a conspiracy theory.
Since the federal government started setting fuel economy standards, US-built cars have doubled their fuel efficiency, saving money for consumers and reducing pollution.
When the price collapsed, the world's most disastrously oil-dependent state was the biggest casualty.
Oil-dependent and led by a charismatic dictator with a chaotic economic policy, is Suriname the next Venezuela?
Saudi Arabia's economy is almost entirely dependent on oil. Here's how it's trying to change that.
OPEC's recent decision to cut supply is a classic move from the oil cartel playbook. But in today's era, there are many more players and game-changing technologies on the field.
The interventionist foreign policy of the Gulf states is increasingly at odds with their economic security.
Energy companies shouldn't rely on government regulation to protect them from the growing disruption from renewables and increased consumer control.
OPEC has been declared dead in recent months as the group of oil-exporters has been unable to agree on a plan to stabilize the market. But was it really ever alive in the first place?
Gulf states such as Saudi Arabia and Qatar are beginning the painful process of restructuring their economies away from oil dependence.
Woodside's deferral of its floating gas project in Western Australia is just the latest blow low oil prices have dealt the industry.
Faced with stringent fuel economy standards but cheap gas, automakers may seek to delay CAFE rules. What's the best way to reevaluate these emissions-cutting rules?
Geopolitics – from the US to Syria to Iran – are at the heart of Saudi Arabia and Russia's decision to freeze oil production at January levels.
When you pick apart the strange economics of global energy markets, it becomes clear how the incredible power of Riyadh can take other countries to the brink.