Two oil tankers collided and caught fire near the Strait of Hormuz Wednesday night. The tankers, located off the coast of ...

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

The global oil market is entering a new phase of structural change as oil production capacity is expected to far outpace demand growth through the end of the decade, the International Energy Agency ...

Reports indicate three ships are transmitting not under command in the Gulf of Oman near the Strait of Hormuz. NASA's FIRMS ...

The risk of Iran closing the Strait of Hormuz is real and could disrupt 20% of global oil supply. Click here for more ...

THE government is ready to roll out fuel subsidies if the situation in the Middle East worsens and triggers a surge in crude oil prices.