The chief executive of top energy trader Vitol expects a slight reduction in U.S. oil production this year due to lower prices, he said on Tuesday. "With slightly lower prices ... we're beginning to see some impact on investment and production.

NEW YORK (AP) — Some calm is returning to Wall Street, and U.S. stocks are rising on Monday, while oil prices are giving back some of their initial spurts following Israel’s attack on Iranian nuclear and military targets at the end of last week.

Although the U.S. is a net oil exporter, higher oil prices could increase inflation and lower economic growth.

Nigeria and Saudi Arabian oil company Aramco are struggling to reach an agreement on a record $5 billion oil-backed loan after a recent decline in crude prices sparked concern among banks that were expected to back the deal,