U.S. crude oil prices continued to plummet on Wednesday, falling over 3% and Brent crude right behind it, shedding over 2.8% on a surprise U.S. inventory build and uncertainty about interest rate cuts and the future of […]
Weekly Crude Oil Storage as of April 19, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 6.4 million barrels from the previous week. At 453.6 million barrels, U.S. […]
White House senior adviser John Podesta said Tuesday, April 16, 2024, that President Joe Biden will do anything to ensure affordable gasoline prices. When asked if the Administration was considering releasing more crude oil from the Strategic […]
(Bloomberg) – The U.S. purchased 2.8 MMbbl of crude for the nation’s emergency oil cache as it seeks to replenish depleted supplies. The Energy Department has been slowly refilling the Strategic Petroleum Reserve after it […]
Daily Standup Top Stories Energy Giants Create Global Synthetic Natural Gas Coalition March 20, 2024 Mariel Alumit Supermajor TotalEnergies, another French energy giant, Engie, and U.S. Sempra Infrastructure have announced plans to create a global coalition to support […]
(WO) – During a discussion titled, “Energy security in a volatile world: The importance of markets” at CERAWeek by S&P Global in Houston, Texas, Hess Corp. CEO and namesake John Hess made an impassioned call […]
US crude oil inventories for the week ended Mar. 15, excluding the Strategic Petroleum Reserve, decreased by 2.0 million bbl from the previous week, according to data from the US Energy Information Administration. At 445.0 […]
Daily Standup Top Stories U.S. Northeast Gasoline Reserve Could Be Sold Off March 4, 2024 Mariel Alumit The U.S. could sell off its 1-million-barrel Northeast Gasoline Supply Reserve in the fiscal year of 2024, a funding […]
WASHINGTON, March 3 (Reuters) – A measure in the U.S. funding legislation unveiled by congressional leaders on Sunday would block China from buying oil from the Strategic Petroleum Reserve. The desire for a hard line […]
President Biden is slowly moving to replace some of the oil he sold from the Strategic Petroleum Reserve (SPR) to lessen political blowback before the 2022 elections. He is buying back oil at around $75 […]
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