EIA: US crude inventories up 1.0 million bbl
US crude oil inventories for the week ended Nov. 19, excluding the Strategic Petroleum Reserve, increased by 1.0 million bbl from the previous week, according to data from the US Continue Reading
U.S. to sell 32 mln bbls from 4 sites as part of strategic sale
The United States will sell 32 million barrels of crude from four Strategic Petroleum Reserve (SPR) sites to be delivered between late-December and April 2022, the Department of Energy (DOE) Continue Reading
Weekly jobless claims plunge to 199,000, the lowest level since 1969 – The Washington Post
The number of Americans filing initial unemployment claims tumbled to 199,000 — the lowest level since November 1969 — the Labor Department reported Wednesday, part of a spate of positive economic news Continue Reading
Biden announces offshore wind farm to supply power to New York
President Biden’s administration greenlit a major offshore wind project to supply power to New York, arriving as part of a broader push to build out renewable energy and tackle climate Continue Reading
US natural gas production nears prepandemic highs in fourth-quarter drive
Output tops 95 Bcf/d Nov. 24, highest since Dec 2019 Appalachia, Haynesville, Permian lead recent growth Winter forwards prices drift lower as supply lengthens US natural gas production surged to Continue Reading
Biden’s Infrastructure Bill Includes Money for Recycling, But the Debate Over Plastics Rages On
The plastics and petrochemical industries are welcoming the $350 million for recycling and the management of plastic waste that’s included in the $1.2 trillion infrastructure bill President Biden signed into Continue Reading
COVID cases break records in Europe, prompting booster shot expansion
Coronavirus infections broke records in parts of Europe on Wednesday, with the continent once again the epicentre of a pandemic that has prompted new curbs on movement and seen health Continue Reading
European carbon prices hit record high after German price floor pledge
The benchmark European carbon contract hit a fresh record high of 73.18 euros a tonne on Wednesday after Germany’s incoming coalition government said it would prevent carbon prices in its Continue Reading
Wind power risks becoming too cheap, says top turbine maker
The head of Siemens Gamesa (SGREN.MC) warned on Wednesday that a decade-long race to bring down the cost of generating wind power could not continue, as it would reduce the Continue Reading
Germany’s New Climate Policies Fall Short of Greens’ Promises
Climate policies unveiled by Germany’s new coalition government underscored the challenges ahead for the Greens, who won the most governing power ever with support from voters demanding more action to Continue Reading
BlackRock, Carmakers to Pour $787 Million Into Charging Network
BlackRock Inc. is joining automakers including BMW AG , Volkswagen AG and Ford Motor Co. as shareholders in electric-car charging consortium Ionity GmbH , contributing to a 700 million-euro ($787 Continue Reading
Russia’s Oil Reserves Are Becoming Increasingly Hard To Recover
Nearly all of Russia’s oil production will consist of the so-called hard-to-recover crude reserves unless the country speeds up and incentivizes exploration, Russia’s Deputy Energy Minister Pavel Sorokin said on Continue Reading
EU to Propose 9-Month Limit on Covid Vaccine Validity for Travel
Germany’s grim milestone; EU’s vaccine validity travel limit. The European Union will recommend a 9-month time limit for the validity of Covid-19 vaccinations for travel into the bloc and also Continue Reading
Oil Steadies as Global Release of Strategic Reserves Underwhelms
Oil was steady after the biggest gain in two weeks following an announcement by the U.S. of a coordinated release of strategic reserves with other countries that fell short of Continue Reading
Oil edges higher as investors sceptical about effectiveness of joint reserve release
Oil prices edged higher on Wednesday, extending gains from the previous day, as investors remained skeptical about the effectiveness of a U.S.-led release of oil from strategic reserves and turned Continue Reading
Oil Slides With Coordinated Strategic Reserve Release Expected
Oil declined ahead of an expected announcement by the U.S. and other major consumers on a release of emergency reserves in a bid to tame high fuel prices and rampant Continue Reading
Oil rises 3% to one-week high after U.S. taps emergency reserves
Oil prices rose to a one-week high on Tuesday after a move by the United States and other consumer nations to release tens of millions of barrels of oil from Continue Reading
WTI-Brent Oil Spread Complicates Biden’s Bid to Tame Pump Prices
President Joe Biden’s effort to tame pump prices by tapping government oil stockpiles could backfire for one simple reason: American gasoline prices more closely track international, rather than U.S., oil Continue Reading
JPMorgan: $80 Oil Is ‘Remarkably Cheap’
Oil prices are cheap compared to record highs of other assets including stocks and other commodities, JPMorgan Chase says. Brent Crude was trading at around $81.50 on Tuesday afternoon, and Continue Reading
SPR Release Only Triggered A Brief Selloff In Crude Oil
President Joe Biden has been scrambling to put a lid on runaway oil prices over the past month. Biden’s latest plan is a joint strategic oil reserve release, cooperating with Continue Reading
Explainer: What is happening with U.S. gasoline prices?
The United States uses more gasoline than any other nation in the world, and lately Americans have grown concerned about the swift rise in costs at the pump. The White Continue Reading
Will tapping the US Strategic Petroleum Reserve lower oil prices?
President Joe Biden tried to deliver a Thanksgiving gift for US drivers on Tuesday, announcing the country’s largest-ever release of stored oil in a bid to drive down petrol prices. Continue Reading
Every Step of the Global Supply Chain Is Going Wrong — All at Once
The twin ports of Los Angeles and Long Beach became the most essential gateways for the American economy over the past century as the country expanded its economic reach beyond Continue Reading
Contending With the Pandemic, Wealthy Nations Wage Global Battle for Migrants – The New York Times
As the global economy heats up and tries to put the pandemic aside, a battle for the young and able has begun. With fast-track visas and promises of permanent residency, Continue Reading
Making Sense of the Narratives After the Glasgow Climate Talks
The COP26 climate talks in Glasgow ended with some progress , though not enough to ensure the world avoids catastrophic climate impacts. If countries meet their pledges, greenhouse emissions in Continue Reading
U.S. challenges OPEC+ with coordinated release of oil from reserves
The administration of U.S. President Joe Biden announced on Tuesday it will release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Continue Reading
Anti-OPEC+ Officially Emerges
A set of top oil-consuming countries are taking the supply-side dynamics into their own hands. Tuesday marked the official emergence of an “anti-OPEC+”. That’s according to Rystad Energy’s senior oil Continue Reading
U.S. challenges OPEC+ with coordinated release of oil from reserves
The administration of U.S. President Joe Biden announced on Tuesday it will release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Continue Reading
Russia’s Lukoil Looks To Drill This 12 Billion Barrel Iraqi Oil Field
Russian oil giant Lukoil looks to become the main developer of the Eridu oilfield Eridu is said to hold up to 12 billion barrels of crude oil Lukoil is gunning Continue Reading
U.N. Nuclear Chief Leaves Iran Without Deal on Access to Nuclear Plant, Diplomats Say
The head of the United Nations atomic watchdog agency left Iran late Tuesday after failing to reach a deal to allow inspectors access to a factory making equipment for Tehran’s nuclear program, Continue Reading
Venezuelan migrants are new border challenge for Biden administration – The Washington Post
Record numbers of Venezuelan migrants have been crossing into the United States in recent months, posing a new border challenge for the Biden administration and raising concerns that more of Continue Reading
Nigeria to Remove Fuel Subsidy – Pay Transport Grant to ‘Poor Citizens’
Fuel pump. The government says it will target 30 to 40 million people, but it will depend on resources. The federal government will remove fuel subsidy and replace it with Continue Reading
West Africa’s October Crude Exports Down 10% As Nigeria’s Output Continues Slump
Crude oil seaborne exports from West Africa slumped below 3.5 million barrels per day in October, down from 3.84 million bpd in September as the continent’s major producer, Nigeria, struggled Continue Reading
The Argentine River That Carries Soybeans to World Is Drying Up
Snaking its way through thousands of miles of South American rainforest and pampas and past sprawling soybean and corn farms, the Parana River is the main thoroughfare for Argentine commerce. Continue Reading
A $12 Billion Gas Project Is Sparking a New Climate Debate
WATCH: Woodside CEO O’Neill discusses the company’s partnership with BHP on a LNG project, limiting emissions from the project and the market for LNG. A $12 billion liquefied natural gas Continue Reading
Japan to release a few hundred thousand kilolitres of oil from reserve
Japan will release a few hundred thousand kilolitres of oil from its national reserve, but the timing of the sale has not been made, the country’s industry minister, Koichi Hagiuda, Continue Reading
Lira collapse leaves Turks bewildered, opposition angry
Anxious Turks struggled to keep up with a bewildering collapse in their currency and the main opposition party leader said the country was experiencing its darkest “catastrophe” as the lira Continue Reading
Biden says U.S. gasoline prices will drop after release of strategic reserves
U.S. President Joe Biden on Tuesday touted his administration’s international and domestic efforts to tackle inflation and high gasoline prices, promising Americans a drop in prices at the pump ‘before Continue Reading
Shale oil’s slower investment sparks new tension with White House
As the Biden administration and allies scramble to deliver more oil to market through stockpile releases, shale producers are tapping the brakes on reinvestment, according to new data, a sign Continue Reading
Giant pipeline in U.S. Midwest tests future of carbon capture
Dan Tronchetti received a letter in August that alarmed him: Summit Carbon Solutions, a company he’d never heard of, wanted his permission to conduct survey work for a 2,000-mile pipeline Continue Reading
U.S. energy secretary: companies making huge profits, should increase oil supply
U.S. Energy Secretary Jennifer Granholm on Tuesday urged U.S. energy companies to increase oil supply amid “enormous profits” as President Joe Biden seeks to bring down the price of gasoline Continue Reading
Alcohol and auto parts: Canada’s warehouses fill up as floods stop flow of goods
Canada’s warehouses are filling up with everything from furniture to alcohol, after floods in British Columbia washed out critical rail and road lines, disrupting already strained supply chains. A week Continue Reading
Shale Patch Sees Limited Impact from Biden’s Unusual Oil Release
The Biden administration’s unprecedented , coordinated attempt to tame oil prices by authorizing one of the biggest ever draw-downs of U.S. crude reserves has elicited a collective shrug from the Continue Reading
What does oil reserve release mean for Biden’s energy agenda?
This morning’s release from the US Strategic Petroleum Reserve comes after a prolonged period of White House attempts to use the limited tools at its disposal to drive down prices Continue Reading
Samsung plans to announce $17 billion chip factory in Texas: report
Samsung Electronics Co. is expected to announce plans to build a $17 billion semiconductor factory in Central Texas, a massive investment against the backdrop of a global chip shortage that Continue Reading
Greenland lost the most ice from iceberg calving and ocean melt on record this year – The Washington Post
Greenland has had a quite a year. For the first time in its history, rain fell at its summit. In August, it experienced one of the latest-occurring melt events in Continue Reading
Atmospheric river to drench Pacific Northwest, British Columbia
It’s been barely a week since devastating flooding accompanied an atmospheric river that lashed parts of British Columbia, isolating the city of Vancouver as landslides and washouts made roadways impassible. Continue Reading
TC Energy seeks $15 billion in Keystone XL damages from US government
TC Energy is seeking $15 billion in damages from the US government for the cancellation of the Keystone XL pipeline project, having filed a formal request for arbitration under the Continue Reading
Researchers find new class of catalysts producing ammonia under mild conditions
A combined experimental and computational study published in Nature Catalysis shows promising results for a new class of catalysts producing ammonia under mild conditions. The production of ammonia amounts to Continue Reading
US braces for ‘fifth wave’ of Covid on eve of Thanksgiving
Twenty months into a pandemic that has claimed almost 770,000 American lives and nearly a year after Covid-19 vaccinations became available, US health experts warn a fifth wave of infections Continue Reading