Crude fell after the US government announced it plans to allow Chevron Corp. to negotiate its oil license with Venezuela’s national producer. West Texas Intermediate settled below $113 on Tuesday. Continue Reading
The United States is considering blocking Russia’s ability to pay its U.S. bondholders by allowing a key waiver to expire next week, a U.S. administration official said on Tuesday, which Continue Reading
The American Petroleum Institute (API) reported a draw this week for crude oil of 2.445 million barrels, compared to analyst predictions of a 1.533 million barrel build. The draw comes Continue Reading
The move leaves the industry in limbo, according to Fitch Solutions. The cancellation of lease sales 258 (Cook Inlet) and 259, 261 (Gulf of Mexico) that were planned under the Continue Reading
The state of Texas’ power-grid operator on Friday called on residents to cut their electricity use this weekend after six generating plants fell offline in a heatwave. Record temperatures have Continue Reading
Not too long ago in some parts of the United States, paying more than $4 for a gallon of gas was seen as a coastal problem faced by Americans in Continue Reading
U.S. gasoline and diesel prices are at record highs and show no sign of falling or of denting demand. Refining capacity has shrunk dramatically since 2020 due to the covid Continue Reading
Chevron waiver was due to expire June 1 Opposition leader Guaido denies involvement Republican lawmakers May 17 were quick to condemn steps the Biden administration reportedly took to ease oil Continue Reading
U.S. gasoline demand is resilient despite all-time high prices. As of May 16, the nationwide average price of a gallon of regular gasoline was $4.483. Gasoline demand in the United Continue Reading
Highlights Summer-winter spreads just 10-15 cents at Eastern Gas Strong spot, near-term demand boosting summer prices Northeast gas storage 80 Bcf below average in mid-May Narrowing summer-to-winter forward price spreads Continue Reading
