US oil prices have recently jumped above the $80 a barrel mark – the highest level since late 2023, sending worrying signals to the Federal Reserve and overly anxious White House. The surge in WTI […]
Gas prices in California are the highest in the nation, and the state recently announced its policies are about to drive them even higher. A recent Los Angeles Times editorial completely misrepresented the root causes and attempted […]
Introduces new target, but eliminates 2035 goal due to energy transition “uncertainty” Energy giant Shell announced today the release of “Energy Transition Strategy 2024,” the first update to its “Powering Progress” strategy, launched in 2021, […]
The Energy Information Administration reported an estimated inventory draw of 1.5 million barrels for the week to March 8. Gasoline stocks also declined while middle distillates inched up. The figures compared with a crude oil inventory build of 1.4 […]
In 2023, gasoline consumption was where it had been 20 years ago, even as miles driven eked out a record, on more efficient ICE vehicles and the shift to EVs. By Wolf Richter for WOLF STREET. Gasoline consumption […]
The U.S. could sell off its 1-million-barrel Northeast Gasoline Supply Reserve in the fiscal year of 2024, a funding bill up for discussion at U.S. Congress says. Under the draft text of the bill, “the Secretary […]
Gasoline production in Russia saw a year-on-year decrease of nearly 2% last month due to an accident at one of Russia’s major processing plants and to Ukrainian drone attacks targeting several other refineries, Kommersant reported […]
Houthi attacks in the waterway have prompted many companies to redirect vessels to longer and more expensive routes The cost of shipping fuel by sea has in some cases soared above $100,000 a day […]
In our January Short-Term Energy Outlook (STEO), we expect average U.S. retail gasoline prices to decrease in 2024 because of increased inventories related to increased refinery capacity. In 2025, we expect slightly reduced gasoline consumption to further […]
Gas station owner Sunoco LP will buy pipeline and liquids terminal operator NuStar Energy in an all-equity transaction valued at around $7.3 billion, including debt, the companies said on Monday in the latest merger deal in the […]
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