Crude Oil

Diesel prices are just 20 cents from a record high, with multiple states already setting new records. Experts warn relief is uncertain as prices could remain elevated through 2026.

The 15 million barrels from the country’s Strategic Petroleum Reserve (SPR) are the final part of a 180-million-barrel release announced in March and does not constitute a further release.

An oil price of $120 a ton could send the global economy into a major recession and fan inflation in the U.S., which Jim Wiesemeyer says is already in double digits for rural Americans.