The United States' domestic oil production has excelled to a record high while becoming one of the biggest gas exporters. Yahoo Finance Senior Columnist Rick Newman details the state of US energy under the Biden administration while global energy markets contend with disruptions tied to Red Sea conflicts and OPEC+ production cuts.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Luke Carberry Mogan.