oil supplies

The oil-producing nations in the group gathered in Qatar to discuss the possibility of a production freeze, but Saudi Arabia balked at the idea of a freeze that didn't include Iran.

The Energy Information Administration says oil inventories are at "historically high" levels. Still, gas prices have been heading up because oil refineries are switching to more costly summer blends.

In the past, when political tensions increased, oil prices went up too amid supply risks. But now OPEC's power is down and U.S. oil supplies are much greater, helping hold prices steady.