Explainer: Why is Trump talking about the Keystone XL oil pipeline?

A social media post by U.S. President Donald Trump declaring that the Keystone XL oil pipeline "may be awoken from the grave" attracted attention this week in the midst of U.S.-Canada trade talks. Below is a ​look at the history of that project running through parts of Canada and the U.S., as ‌well as details on the new oil pipeline proposal that follows a slightly different route:

Reuters • 8 hours ago

Oil prices head for second weekly rise as U.S. vows to turn up economic pressure on Iran

Crude prices were slightly lower early Friday but on course for a second consecutive weekly gain as the U.S. vows to mount the "toughest sanctions in history" against Iran. U.S. Treasury Secretary Scott Bessent told CNBC that meant a return to large-scale military combat was "unlikely," but markets are now "pricing in the failure of diplomacy," an analyst told CNBC.

CNBC • 15 hours ago

Crude Oil Price Forecast – WTI and Brent Hold Above 50-Day EMA as Weekend Geopolitical Risks Loom

Crude oil is grinding away on Friday, as many traders probably don't know what to do with the headline-driven market at the moment.

FXEmpire • 9 hours ago

Natural Gas, WTI Oil, Brent Oil Forecasts – Brent Oil Tests New Highs

Oil markets are moving higher as traders bet that the Strait of Hormuz would remain closed in the upcoming weeks.

FXEmpire • 5 hours ago

Natural Gas and Oil Forecast: Hormuz Risks Support Oil as U.S. Inventories Build

WTI and Brent remain bullish as Hormuz traffic falls sharply, while rising U.S. crude and natural gas inventories provide a domestic supply buffer.

FXEmpire • 18 hours ago

Oil set for second weekly rise as unsettled US-Iran war crimps supply

Oil prices were little changed on Friday, but were on track for a second weekly rise as the stalemated U.S.-Iran war continues to disrupt ​supply from the key Middle East producing region.

Reuters • a day ago

Bessent: “I Don't Really Understand” Oil Price Spike, As Iran War Nears 6 Month Mark

Treasury Secretary Scott Bessent told reporters Thursday, Aug. 20, 2026 that “We've got a spike in oil prices today that I don't really understand.

24/7 Wall Street • Aug 20, 2026

Oil prices rise as Trump sharpens Iran rhetoric amid talks impasse

Oil moved higher early Thursday after U.S. President Donald Trump sharpened his rhetoric against Iran.

CNBC • Aug 20, 2026

Oil prices jump after Trump declares economic war on Iran

West Texas Intermediate and Brent crude's front-month contracts both climbed after President Donald Trump said he was launching a “crushing economic operation” against Iran.

Market Watch • Aug 20, 2026

Oil Cracks $89 As Trump Launches 'Economic D-Day' Vs. Iran

Oil prices are back near one-month highs.

Investors Business Daily • Aug 20, 2026