oil refineries

Oil refineries have lost capacity over recent years, making it nearly impossible to increase supply and stabilize gas prices at the pump.

The drop doesn't signal a rapid descent to the low prices of 2021, but drivers could see modest decreases continue in the coming weeks, analysts say.

Coast Guard teams have been dispatched to help determine the extent of the damage from the spill, which is situated roughly two miles off the Louisiana coast. Officials say the source remains unclear.

Houthi rebels in Yemen have claimed responsibility for the attacks, but Secretary of State Mike Pompeo accused Iran of launching an "unprecedented attack on the world's energy supply."