U.S. crude oil and fuel stockpiles rose last week, bolstered by another big release from strategic reserves, while demand slackened, the Energy Information Administration said on Wednesday. Crude inventories (USOILC=ECI) Continue Reading
Since the start of May, the Electric Reliability Council of Texas (ERCOT) has twice appealed to homes and businesses to limit consumption at peak times to avert power shortages and Continue Reading
WASHINGTON, July 13 (Reuters) – U.S. annual consumer prices jumped 9.1% in June, the largest increase in more than four decades, leaving Americans to dig deeper to pay for gasoline, Continue Reading
Expensive gasoline is keeping more US drivers off the road than the Covid-19 pandemic did at this time two years ago. The country’s demand for gasoline tumbled last week to Continue Reading
U.S. President Joe Biden said on Wednesday that the June inflation data showing the highest inflation in the United States in more than 40 years is “out-of-date” because gasoline prices Continue Reading
After exceeding $5 a gallon for the first time in history, U.S. gasoline prices are finally falling, giving some relief to consumers in the world’s largest user of the fuel. Continue Reading
U.S. solar energy prices rose 8.1% in the second quarter as projects were stalled by a Commerce Department investigation into tariffs on products from Southeast Asia and soaring input costs, Continue Reading
Gasoline prices, on an upward tear for months, have reversed course in recent weeks, giving consumers a welcome break. Gasoline was a major reason that U.S. consumer prices were 9.1 Continue Reading
Prices surged 9.1 percent in June as consumers faced rapidly rising costs for gas, food and rent, a higher-than-expected reading and bad news for Americans at a moment when their wages are Continue Reading
U.S. liquefied natural gas has become an increasingly important part of the global energy mix since Russia invaded Ukraine. In June, the European Union imported more LNG from the United Continue Reading
Canadian Prime Minister Justin Trudeau said that the sanctions exception it made to return Russia’s repaired gas turbine was a “very difficult” decision to make, Reuters reported on Wednesday. Canada Continue Reading
U.S. natural gas futures fell about 4% on Tuesday as the gas market followed an 8% drop in oil prices. That gas price decline came even though daily gas output Continue Reading
Power lines run from the coal-fired Intermountain Power Project, which will close in 2025, outside U.S. power consumption was on track to rise to record highs in 2022 and 2023 Continue Reading
– U.S. crude production and petroleum demand will both rise in 2022 as the economy grows, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) Continue Reading
The US will consume less gasoline from July through October than previously thought as pump prices remain historically high. The country’s gasoline demand is now expected to reach 9.07 million Continue Reading
The small but growing Safe Cities movement is looking to LA to help stop the construction of new gas stations across North America. A car leaves a gas station in Continue Reading
The July Short-Term Energy Outlook (STEO) is subject to heightened uncertainty resulting from a variety of factors, including Russia’s full-scale invasion of Ukraine. The possibility of economic activity being less robust than Continue Reading
The American Petroleum Institute (API) reported a large build this week for crude oil of 4.762 million barrels, while analysts predicted a draw of 1.933 million barrels. The build comes Continue Reading
With 14.9 GW of coal-fired capacity to retire in 2022, the Energy Information Administration July 12 estimated 2022 coal consumption at 481.7 million st, down 3.9% on the year. “The Continue Reading
Drawdown of 7-10 Bcf expected in week ended July 8 Southeast summer gas demand up 5.3 Bcf/d vs. 2021 Locations east of Henry Hub trade at $5-$6 premiums The US Continue Reading
Stress lines in oil consumption are continuing to form. Across oil-consuming economies, stress lines in oil consumption are continuing to form amid tight product supplies and high pump prices. That’s Continue Reading
The AAA gas prices website has revealed which state has the cheapest average regular gasoline price. The AAA gas prices website has revealed which state has the cheapest average regular Continue Reading
Joe Biden starts the first visit to the Middle East of his presidency with a monumental task: assuring uneasy Israeli and Saudi Arabian officials that he is committed to preventing Continue Reading
U.S. inflation is estimated to have reached a new four-decade high in June, but falling gasoline prices and discounting at some retailers could be signs of moderating price pressures, economists Continue Reading
U.S. crude and gasoline inventories were seen down last week, while distillate stockpiles likely rose, a preliminary Reuters poll showed on Monday. Five analysts polled by Reuters estimated on average Continue Reading
The Texas power grid is facing its biggest test of the year as scorching temperatures threaten to drive demand for electricity beyond the system’s breaking point. With electricity consumption projected Continue Reading
U.S. gasoline prices dropped again on Monday. U.S. gasoline prices dropped again on Monday, according to the latest figures from the AAA gas prices website. As of July 11, the Continue Reading
Almost all of Texas’ industrial-scale Bitcoin miners have come to a halt as the state tries to stave off power blackouts amid an intense heatwave, Bloomberg reported on Monday. Bitcoin Continue Reading
Stress lines in oil consumption are continuing to form. Across oil-consuming economies, stress lines in oil consumption are continuing to form amid tight product supplies and high pump prices. That’s Continue Reading
The operator of Texas’s power grid on Sunday called on state residents for the second time this year to conserve energy, warning of potential rolling blackouts amid predictions for record-high Continue Reading
A wildfire threatening some of the world’s oldest giant sequoia trees in California’s Yosemite National Park expanded five-fold over the weekend as smoke prompted air quality alerts throughout the park Continue Reading
European natural gas fell after Canada said it would return a stranded turbine for a key Russian pipeline to Germany, raising optimism that tensions with Moscow over energy supplies will Continue Reading
Ukraine’s defense minister said his country has “passed the test” with its successful use of recently delivered American long-range artillery systems, but stressed the high attrition rate along its extensive Continue Reading
U.S. natural gas futures dropped about 4% on Friday after soaring over 14% in the prior session on a slow rise in output and forecasts for less demand next week Continue Reading
U.S. refiner Citgo Petroleum is willing to resume imports of Venezuelan crude, suspended since 2019 by Washington’s sanctions on its parent company PDVSA, if the U.S. government authorizes the flow, Continue Reading
China’s support for Russia’s war in Ukraine is complicating U.S.-Chinese relations at a time when they are already beset by rifts and enmity over numerous other issues, U.S. Secretary of Continue Reading
U.S. crude oil production slid in April by about 0.5% to its lowest since February, according to a monthly report from the U.S. Energy Information Administration on Friday. Oil production Continue Reading
Payrolls rose 372,000 in June, in line with prior months’ pace Participation rate eases as more Americans left labor force US Added 372,000 Jobs in June, Topping Estimates Sign up Continue Reading
Texas grid operators braced for near-record electricity demand Friday as triple-digit heat blanketed most of the state, sending power prices soaring. Demand on the power grid was expected to peak Continue Reading
Analysts said the recent decline in gas prices is likely to be short-lived. The price of gasoline in the U.S. has fallen for 24 consecutive days after hitting a record Continue Reading
U.S. President Joe Biden signed a new weapons package worth up to $400 million for Ukraine on Friday, including four additional high mobility artillery rocket systems (HIMARS) and more ammunition. Continue Reading
Scott Lindberg’s dream of becoming a petroleum engineer was fueled by childhood drives through Texas oil country with his energy-consultant father, passing pumpjacks and pipeline hubs that kept the world’s Continue Reading
The United States is exporting millions of barrels of oil from its emergency oil reserves to Europe and Asia. “The SPR remains a critical energy security tool to address global Continue Reading
While gasoline prices are still $1.50 higher per gallon than they were this time last year, they fell sharply overnight in what was the largest one-day drop in nearly 15 Continue Reading
Since Monday, the national average for a gallon of regular gasoline has decreased by a nickel to $4.75. According to new data from the Energy Information Administration (EIA), gas demand Continue Reading
U.S. natural gas futures jumped about 14% on Thursday to their highest in a week, supported by a much smaller-than-expected storage build last week as power generators burned lots of Continue Reading
Concerns about safety, including on public transportation, have contributed to a reluctance to go back to the office. Soon after a gunman shot and killed a Goldman Sachs Inc. employee Continue Reading
Commercial crude stocks climb 8.23 million barrels Refinery demand drops 230,000 b/d Gasoline stocks draw ahead of July 4 holiday US crude oil inventories realized a counter-seasonal build during the Continue Reading
Deficit to five-year average trimmed to 12.2% Injection undershot survey expectations of 73 Bcf NYMEX Henry Hub August soars in post-report trading US natural gas working stocks rose by 60 Continue Reading
U.S. employers likely downshifted their pace of hiring in June, but to a level that remains solid despite fears that the economy faces the growing risk of a recession . Continue Reading
