The Biden administration in the United States has reportedly sold over a million barrels of oil from the Strategic Petroleum Reserve to a Chinese state-owned company that had received a $1.7 billion investment from BHR Partners, one […]
HOUSTON, July 5 (Reuters) – More than 5 million barrels of oil that were part of a historic U.S. emergency oil reserves release aimed at lowering domestic fuel prices were exported to Europe and Asia […]
HOUSTON, June 27 (Reuters) – U.S. crude inventory in the Strategic Petroleum Reserve (SPR) fell by 6.9 million barrels in the week to June 24, according to data from the Department of Energy. Stockpiles in […]
BAYOU CHOCTAW, La., May 24 (Reuters) – U.S. President Joe Biden has not ruled out using export restrictions to ease soaring domestic fuel prices, U.S. Energy Secretary Jennifer Granholm said on Tuesday. Asked if the […]
There are a number of factors that have pushed oil prices into the stratosphere, but the rally may be becoming unsustainable. Russia’s war in Ukraine has created a particularly tight oil market, and it could […]
President Joe Biden is harming national security by ordering the release of massive amounts of oil from the Strategic Petroleum Reserve. The release is a cynical political move, but it will backfire. Biden announced Thursday he […]
WASHINGTON, (Reuters) – The U.S. Department of Energy has approved the twelfth exchange of 2,700,000 barrels of crude oil for release to ExxonMobil Corp (XOM.N) from the nation’s Strategic Petroleum Reserve, the department said in a […]
ENB Publishers Note: The SPR release is a political stunt. The average price for oil in the reserves is an estimated $29 per barrel. Coupled with releasing the sour crude that the refiners don’t want […]
Oil prices erased losses and jumped on Tuesday morning following the SPR release announcement Despite the seemingly big number, 50 million barrels, the U.S. release actually equals around two and a half days of American […]
It is funny how talking points and “Buzz” words get thrown out and stick to the wall like my wife testing if the spaghetti is cooked. Some of them that are unbearable is; Let’s circle […]
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