Producers will need time to ramp up output, while port bottlenecks and heightened demand will keep US prices up.

Oil prices sank Monday, hitting their lowest levels in more than three months, after the United States and Iran said they had reached an agreement that would end a US blockade of…

NEW YORK (AP) — High oil and gasoline prices and energy supply problems won't be solved overnight, despite an agreement to end the Iran war and open the Strait of

Oil prices drop more than 4% after a reported US-Iran deal to halt conflict and reopen the Strait of Hormuz reduces global supply concerns.

Experts warn oil and fuel prices may remain high as restoring production, shipping and confidence after Strait of Hormuz disruption could take months.