The U.S. imported more than 245 million barrels of oil from Russia in 2021, government data shows.
One major source of income for Russia is exempt from sanctions, which can keep suppling the Kremlin with much-needed funds.
Shell's exit from the country means that the company has pulled out of the controversial Nord Stream 2 pipeline.
The price of Brent crude was up 2.4 percent, reaching $97.63 a barrel on Tuesday, its highest level since September of 2014.
The American Petroleum Institute (API) is challenging a federal judge's ruling to throw out the sale of nearly $200 million worth of drilling leases.
Cold weather and the continued uncertainty surrounding the Russia-Ukraine conflict are being blamed for the current rise in prices.
Environmental groups hailed the federal court's decision to throw out a November's Gulf of Mexico drilling rights sale.
A federal judge revoked the Gulf of Mexico sale held last November, saying its environmental impact had not been properly considered by the Trump-era Interior Department.
The pipeline belongs to Star Petroleum Refining Public Company Limited, which is involved in the clean up and damage control of the spill
The President of Kazakstan was forced to call a state of emergency as police and the military deal with rioters and protestors.
OPEC and its allies agreed on Tuesday to release 400,000 barrels a day in February.
"This settlement represents an important down payment to address impacts from the longest-running oil spill in U.S. history," an official said.
Russia exercises strong but discreet influence in Bulgaria through economic channels, the media and importantly, energy.
President Joe Biden needs to realize that for young people like us, this lease sale and every new fossil fuel project he approves will become one of our top voting issues in 2022 and 2024.
The U.S. will still fund projects in vulnerable areas in need of expanded energy access.
COVID-related shutdowns and supply shortages amid increased customer demand have been attributed to the increasing inflation in almost all areas of the economy.
The state passed North Dakota as the second largest oil producer in the country this year, largely fueling the state's projected $1.6 billion surplus.
The energy monitoring website said demand had surged to its highest level since it started keeping records in July 2020.
Analysts do not expect the release of 50 million barrels of oil from the Strategic Petroleum Reserve (SPR) to ease prices at the gas pump.
President Joe Biden to use 50 million barrels of oil from America's strategic reserve in an attempt to lower the high gas prices across the country.
"The oil companies have taken advantage of [the] moment," the secretary said.
The president announced Tuesday that he would tap into 50 million barrels of emergency oil reserves. Will motorists notice during their Thanksgiving travels?
"The problem is that everybody knows that this measure is temporary," said one trading expert of the 2 percent stock increase.
Americans have been dealing with high gas prices, which averaged $3.409 per gallon on Monday.
The oil and gas lease sale in New Orleans on Wednesday saw 33 companies submit bids totalling over $198 million.
The president asked the FTC to investigate whether Americans are paying more for gas "because of anti-competitive or otherwise potentially illegal conduct."
Some 80 million acres of federal waters are up for grabs in the Gulf of Mexico Outer Continental Shelf Oil and Gas Lease Sale 257.