Crude Oil News
SPR Relativity
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 […]
SPR
Crude Oil News
Biden Plans to Buy Some Oil for the Emergency Reserve, But Not Too Much
IER Key Takeaways 1:After draining 180 million barrels of oil to get gas prices down before the 2022 elections, President Biden is beginning to add small amounts of oil to the Strategic Petroleum Reserve. 2: […]
Crude Oil News
DAVID BLACKMON: Fear Factor Surrounding Oil Prices Has Vanished
The price fear factor for crude oil rose following the Oct. 7 Hamas terrorist attacks on Israel, and crude prices continued to rise in subsequent weeks over fears the conflict could escalate region-wide. But in […]
Climate Crisis
Daily Energy Standup Episode #248 – Switzerland’s Nuclear Extension, Rep. Brecheen’s Climate Job Proposal, Biden’s LNG Prioritization, Texas Energy Fund Approval, and DOE Oil Refill Bids
Daily Standup Top Stories Switzerland To Keep Nuclear Plants Operating For Longer Than Planned November 8, 2023 Allen Santos Switzerland’s nuclear power plant operators plan to keep the facilities operational for longer than initially planned, spokespeople […]
Crude Oil News
Department of Energy invites bids for SPR oil refill
Oil Price The Department of Energy has issued an invitation for bids for some 3 million barrels of crude that will go into the strategic petroleum reserve as part of refill efforts. In the announcement, the DoE […]
Crude Oil News
US seeks to buy 6 million barrels for oil reserve by January
Nasdaq The U.S. Department of Energy said on Thursday it hopes to buy six million barrels of crude oil for delivery to the Strategic Petroleum Reserve in December and January, as it continues its plan […]
Top News
Biden sold off nearly half the U.S. oil reserve. Is it ready for a crisis?
An energy crisis spawned by a Middle East war 50 years ago spurred the U.S. to create a huge crude oil stockpile to shield the country from threats by unfriendly nations. Now the oil lying […]
Crude Oil News
USA EIA Releases Latest Brent Oil Price Forecasts
The U.S. Energy Information Administration (EIA) has revealed its latest Brent spot average price forecasts for 2023 and 2024 in its October short term energy outlook (STEO), which was released this week. According to the […]
Crude Oil News
WTI Extends Gains As Cushing Stocks Near ‘Tank Bottoms’; SPR Drained
After their tumble overnight yesterday amid bearish risk appetites, oil prices have soared back to new cycle highs as traders mulled the effects of rapidly tightening supplies after API reported yet another weekly drawdown in […]
Crude Oil News
Biden Energy Secretary called Chinese official before US tapped oil reserves
Energy Secretary Jennifer Granholm spoke with a senior Chinese energy official the same week that the US began tapping its Strategic Petroleum Reserve in November 2021 — later selling some oil to a Beijing-backed firm linked to […]