Chevron has a joint venture with state-owned oil company Petróleos de Venezuela. The U.S. extended a limited license held by Chevron Corp. on Tuesday that allows the oil company to Continue Reading
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
From record prices to blowout spreads and falling stockpiles, a handful of financial and physical indicators are pointing to expensive and possibly tighter gasoline markets across the US this summer. Continue Reading
The amount of crude oil in the U.S. Strategic Petroleum Reserve (SPR) dropped by 5 million barrels in the week to May 13, data from the U.S. Department of Energy Continue Reading
NOIA President Erik Milito has issued a response to the decision not to move forward with planned GoM and Alaska oil and gas lease sales. National Ocean Industries Association President Continue Reading
US airlines are poised to raise ticket prices further as Americans shrug off the fastest rise in domestic airfares for decades in their determination to travel. Airfares rose by 18.6 Continue Reading
The soaring dollar is propelling the global economy deeper into a synchronized slowdown by driving up borrowing costs and stoking financial-market volatility — and there’s little respite on the horizon. Continue Reading
Public schools were closed and evacuation bags packed this week as a stubborn wildfire crept within a few miles of the city of Los Alamos and its companion U.S. national Continue Reading
Some of the wildest weather of this year ripped across the US Midwest and Great Plains on Thursday, unleashing tree-toppling, hurricane-force wind gusts and crashing hail. The highest wind report Continue Reading
The sale leaves Ford with about 86.9 million shares of Rivian, or a 9.7% stake, according to FactSet data. Rivian’s stock price sank earlier in the week following news of Continue Reading
Thanks to a remarkable oil and gas boom, the United States has achieved the long-sought goal of energy self-sufficiency: We now produce more oil and refined products, natural gas and Continue Reading
The average retail price of unleaded gasoline in the US has climbed for 19 straight days, extending a record rally to $4.432 a gallon, according to the latest data from Continue Reading
Several electric-vehicle startups that went public by merging with special purpose acquisition companies, or SPACs, in the last two years made some nervy disclosures this week. Canoo, the buzzy electric-van Continue Reading
Temperature in Continental US on May 9. Source: National Weather Service/NOAA Texas suffered extremely high temperatures in the last week, reaching 112° Fahrenheit (44.4° Celsius) in Rio Grande Village, near Continue Reading
Highlights Import volumes grow 9.2% on year ‘Summertime surge’ likely as China reopens Empty exports continue monthly increases The Port of Long Beach, California said May 13 it had its Continue Reading
U.S. stocks ended a whipsaw session lower on Thursday, as investors fretted inflation could remain elevated for longer than expected, which could prompt the Federal Reserve to hike interest rates Continue Reading
Diesel costs are reaching new highs across the U.S., straining the operations of trucking companies and wrecking the transportation budgets of businesses that need to ship goods. The price of Continue Reading
A sprawling dome of summerlike heat has swelled from Texas to Wisconsin and is poised to shatter records in more than a dozen states. Madison, Wis., Chicago, Des Moines, St. Continue Reading
Cleaner air in United States and Europe is brewing more Atlantic hurricanes , a new U.S. government study found . The National Oceanic and Atmospheric Administration study links changes in Continue Reading
Summer-on-summer daily production growth forecast at 3.6 Bcf/d Production growth to come in 1 Bcf/d above demand growth US natural gas production will grow materially this summer comparedi with summer Continue Reading
The Biden administration is scrapping planned auctions of drilling rights in the Gulf of Mexico and Alaska’s Cook Inlet. The Biden administration is scrapping planned auctions of drilling rights in Continue Reading
The United States is sending billions of dollars in military equipment to Ukraine, including heavy artillery, drones and antitank missiles. Administration officials have publicly enumerated those contributions, practically down to Continue Reading
Since signing the Paris climate agreement in 2015, nations around the world have focused on one climate goal: limiting global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) above preindustrial Continue Reading
Retail gasoline prices in the United States rose on Tuesday and hit another all-time record, surpassing one set in March, as global refineries grappled with a bottleneck that has sent Continue Reading
U.S. natural gas production and 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) on Continue Reading
U.S. crude oil output is expected to rise 720,000 barrels per day to 11.91 million bpd in 2022, the government said in a monthly forecast on Tuesday. U.S. crude output Continue Reading
Analysts cut share-price targets at fastest pace in two years It’s latest evidence of souring sentiment on the equity market To see how much pressure the five-month equity selloff is Continue Reading
American drillers will increase oil production at a slower pace than previously expected amid surging costs, stymieing the Biden administration’s hope that the industry will boost output to tame fuel Continue Reading
The calendar says May, but the atmosphere has fast-forwarded at least a month. A sprawling dome of summerlike heat is parked over the central United States, bringing temperatures 20 degrees Continue Reading
Forecast Highlights Global liquid fuels The May Short-Term Energy Outlook (STEO) is subject to heightened levels of uncertainty resulting from a variety of factors, including Russia’s full-scale invasion of Ukraine. This STEO Continue Reading
Cuts global oil demand growth by 200,000 b/d on China, US Trims US oil supply by 100,000 b/d to 11.91 mil b/d in 2022 EU oil ban would lead to Continue Reading
The average price of regular gasoline in the U.S. hit a new record. The average price of regular gasoline in the U.S. hit a new record of $4.37 per gallon Continue Reading
The U.S. House of Representatives approved more than $40 billion more aid for Ukraine on Tuesday, as Congress races to keep military aid flowing and boost the government in Kyiv Continue Reading
California’s water use in March was the most for that month since 2015 despite pleas for conservation amid a record dry start to the year. Water used by residents to Continue Reading
Diesel prices have hit record highs due to very tight domestic inventories and a global supply shortage. A combination of spiking demand as the world recovers from Covid and falling Continue Reading
Retail gasoline prices in the United States rose on Tuesday and hit another all-time record, surpassing one set in March, as global refineries grappled with a bottleneck that has sent Continue Reading
From behind the wheel of his work van, Fernando Gonzalez took in the immaculate front yard amid the arid and affluent hills north of Los Angeles. The red and white Continue Reading
U.S. front-month Henry Hub natural gas contracts ended 12% lower on Monday. Gas prices have passed the $8 mark last week as a result of soaring exports and strong domestic Continue Reading
Strong winds continued into the day Sunday, helping spread the second-largest wildfire on record in New Mexico farther into small farming communities in the state’s mountain valleys, as crews expect Continue Reading
White house cautiously weighs implications of NOPEC bill. NOPEC bill could lead to higher prices of imported crude to the U.S. The NOPEC bill could end the dominance of the Continue Reading
Lake Powell water supply forecast at 59% of normal Lower Colorado River Basin ranges from 58% to 97% June on-peak power forwards reach package highs May 5 Southwestern snowpack levels Continue Reading
