U.S. energy trading experts said Monday's first-ever oil futures crash below $0 does not mean that Americans will suddenly be paid to fill up their cars' gas tanks.
After the attack on Saudi oil facilities on Saturday, it is likely U.S. consumers will see a 10 to 25 cent increase per gallon for gas as early as Tuesday.
The U.S. sanctioned the Venezuelan state-owned oil and gas company PDVSA, which is Venezuela's biggest source of revenue.
Oil prices have dropped significantly, with the U.S. benchmark price dipping below $60 per barrel.
Drivers wary of escalating cost of travel as national gas price average already at highest for years.
Remember when oil prices were $140 a barrel and it was predicted they would reach $200? Now, oil prices are $34.
Arab oil ministers meeting in Vienna on June 5 must confront the devastating consequences of the war in their midst.
"The inventory levels are actually getting scary," a commodity strategist says.
The data could allow a cautious Federal Reserve more room to hold off on raising interest rates.