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Oil Prices Jump as Middle East Tensions Build

Some analysts said the main international oil price, which was up 6 percent on Monday, could climb much higher in the coming weeks if the Strait of Hormuz doesn’t reopen.

© Damian Dovarganes/Associated Press

An oil refinery in Carson, Calif. The possibility of continued fighting has raised concerns about how long the world’s stockpiles of oil and fuels will last if the Strait of Hormuz does not reopen.
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China’s Rise in Drug Development Looms Over U.S.

Clinical trials in China are getting attention at an international oncology gathering in Chicago. China’s surging biotechnology industry is fueling alarm that U.S. dominance in the field is waning.
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Exxon Is Nearing a Deal to Pump Oil in Venezuela, Marking a Victory for Trump

The U.S. oil giant is negotiating a deal to pump oil in Venezuela, ending a standoff with its socialist rulers and marking a victory for President Trump.

© Adriana Loureiro Fernandez for The New York Times

An oil tanker docked at the Cardón refinery in Punto Fijo, Venezuela, in January.
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