More Americans are beginning to hold off on booking flights, getting haircuts, building backyard pools and replacing old leaky roofs — in some of the new signs that the consumer Continue Reading
Power demand in Texas hit a new all-time high on Thursday and will likely break that record on Friday and Monday as homes and businesses keep air conditioners cranked up Continue Reading
BofA Securities economists see roughly a 40% chance of a U.S. recession next year, with inflation remaining persistently high. They expect U.S. Gross Domestic Product growth to slow to almost Continue Reading
Waiving a century-old shipping law to let foreign-flagged vessels transport fuel between US ports — a favorite talking point of a US refinery sector trying to get the White House Continue Reading
The signs are growing that there could be a significant heat wave across the South, Southeast and Mid-Atlantic next week, with tropical humidity and highs 10 to 20 degrees Fahrenheit Continue Reading
White House is said to be considering limits on fuel exports. Limiting fuel exports is a politically sensitive decision. Fuel exports have been named as one of the factors contributing Continue Reading
Freeport LNG has declared a force majeure on LNG exports from its Gulf Coast location until September, Bloomberg sources said on Friday. The company had reported earlier in the week Continue Reading
With no nuclear deal with Iran in sight, the United States Treasury has slapped additional sanctions on companies based in Iran, China and the UAE for enabling the export of Continue Reading
The United States imposed sanctions on Thursday on Chinese and Emirati companies and on a network of Iranian firms that help export Iran’s petrochemicals, a step that may raise pressure Continue Reading
Robust demand from Latin America is set to lift US Gulf Coast fuel exports to new heights this month, hampering efforts to build up national inventories amid soaring prices. Waterborne Continue Reading
The U.S. economy is starting to slow under the combined weight of soaring inflation and climbing interest rates—including the highest mortgage rates since 2008. Recent reports show sharp declines in Continue Reading
A rapid rise in American fuel exports this year has helped push gasoline prices to a record $5 a gallon and is pressuring U.S. prices of natural gas, which hit Continue Reading
Lower 48 states at 33-40% risk for hotter temperatures Heat risk highest for Northeast, Texas, the West Coal generation constrained by capacity, supply US gas-fired power generators could see a Continue Reading
As the Biden administration contemplates expanding punitive measures on Russia for its invasion of Ukraine, a big hurdle lies closer to home: the American consumer. U.S. drivers are embarking on Continue Reading
Concerns including energy costs, supply-chain snarls and China’s pandemic lockdowns are contributing to CEOs’ sense that a recession is likely. Most top executives say they think a recession is looming Continue Reading
In eastern Montana and Wyoming, massive flooding has destroyed bridges, swept away homes, and forced the evacuation of more than 10,000 visitors from Yellowstone National Park. Half a million households in the Continue Reading
U.S. refiners last month imported the most heavy crude in nearly two years, customs data showed, as they cranked up motor fuel production and sought to replace sanctioned Russian oil. Continue Reading
Global liquefied natural gas (LNG) buyers – especially in Europe – and some U.S. shale producers have been reeling since a June 8 blast shut Freeport LNG’s massive export terminal Continue Reading
The Federal Reserve raised its target interest rate by three-quarters of a percentage point on Wednesday to stem a disruptive surge in inflation, and projected a slowing economy and rising Continue Reading
U.S. retail sales unexpectedly fell in May as motor vehicle purchases declined amid rampant shortages, and record-high gasoline prices pulled spending away from other goods. The first drop in sales Continue Reading
Gasoline and diesel prices in the Golden State may soar to fresh records in coming weeks as one of the largest refineries on the West Coast starts maintenance. Chevron Corp. Continue Reading
A rapid rise in American fuel exports this year has helped push gasoline prices to a record $5 a gallon and is pressuring U.S. prices of natural gas, which hit Continue Reading
President Biden has made it clear that he won’t take any tools off the table when it comes to bringing gasoline prices down. One such tool is an oil export Continue Reading
The extended outage is ‘significantly longer’ than the three weeks that was initially reported. Freeport LNG’s expectation that full plant operations will come back online by late 2022, and a Continue Reading
The U.S. Department of Energy on Tuesday said it was selling up to 45 million barrels of oil from the Strategic Petroleum Reserve as part of the Biden administration’s previously Continue Reading
Pump prices in the New York metro area hit a fresh record as the driving season ramps up amid the lowest gasoline stockpiles the region has ever seen for this Continue Reading
Nearly every corner of the Lower 48 is dealing with some sort of wild weather, with fires, floods, tornadoes and a punishing heat wave all wreaking havoc. A staggering 120 Continue Reading
Wyoming produced over 1.37 trillion cu ft of natural gas last year. Colorado pumped 2.175 trillion cu ft in 2021. Opposition to more gas production remains strong in the two Continue Reading
Freeport LNG will not resume full operations at its liquefication plant on Quintana Island until the end of this year, according to the company’s Tuesday press release. While China’s LNG Continue Reading
Drivers around the world are tolerating record-high prices for road fuels, as mobility wins out for now over other spending in squeezed household budgets, data showed. The high prices have Continue Reading
President Joe Biden told U.S. oil refiners that unprecedented profit margins are unacceptable. President Joe Biden told US oil refiners that unprecedented profit margins are unacceptable and called for “immediate Continue Reading
The measure is part of broader legislation to bolster U.S. competitiveness with China. Congress is pressing ahead with legislation that could rewrite the rules for American companies investing abroad, proposing Continue Reading
The Biden administration has proposed higher energy-efficiency standards for home furnaces powered by natural gas , which could cause a popular form of gas heater that lacks condensing equipment to Continue Reading
North America Electricity use soared to an all-time high in Texas amid a searing heat wave, topping levels last seen before the coronavirus pandemic. With air conditioners humming across the Continue Reading
The US economy will tip into a recession next year, according to nearly 70 per cent of leading academic economists polled by the Financial Times. The latest survey, conducted in Continue Reading
Europe’s biggest oil firms are rushing to diversify their portfolios while expanding into green energy. Shell announced this week that it will begin selling electricity generated from renewable sources directly Continue Reading
‘An oil spill or leak would cost the world billions to clean up’. U.S. Secretary of State Antony J. Blinken has announced that the Department of State is working with Continue Reading
U.S. oil producers profiting from sky-high prices are doling out billions to shareholders and building cash reserves, a strategy irking lawmakers and voters struggling with record fuel prices while winning Continue Reading
The United States has a new plan to curb Russia’s oil revenue. The U.S. is in talks with European allies over a potential price cap on Russian crude. The goal Continue Reading
A new report shows that U.S. oil and gas firms are underreporting methane leaks. The report suggests that much of the methane emissions appear to be caused by a small Continue Reading
The UK shipped 1.85 million barrels of gasoline to the United States in May. UK gasoline prices are as much as $3 per gallon higher than in the U.S. Taxes Continue Reading
US defence secretary Lloyd Austin accused China of stepping up coercive behaviour towards Taiwan as he stressed that Washington would maintain its military capacity to resist any force that threatened Continue Reading
The power grid operator in the Central United States warned on Friday that problems it may experience keeping the lights on this summer could also occur during the summers of Continue Reading
Current tactics risk $150/b oil, $6/gal gasoline Import tariffs, transfer caps among options Energy sanctions against Russia need to be reconfigured to better target the country’s revenues from oil and Continue Reading
U.S. consumer inflation reached its highest level in more than four decades in May as surging energy and food costs pushed prices higher , with little indication of when the Continue Reading
U.S. President Joe Biden continues to look for ways to bring down the high cost of gasoline—and the latest efforts have him taking a hard look at U.S. refinery capacity. Continue Reading
US gasoline prices breach $5/gal level EIA forecasts maximum summer refinery utilization Russian diesel shortages have knock-on impact on gasoline With average US gasoline prices breaking the $5/gal level in Continue Reading
The average price of a gallon of regular unleaded gas in the U.S. hit $5 Friday night, and the rise in fuel costs is expected to persist throughout the busy summer driving Continue Reading
Some of the nation’s biggest food suppliers and restaurants, including Kraft Heinz Co. KHC 0.48%▲ and some McDonald ’s MCD -1.97%▼ Corp. franchisees, said they would continue to raise prices Continue Reading
An aging, polluting coal power plant in Missouri was headed for retirement this year. But because the region’s grid operator needs the plant’s electricity to reduce the risk of blackouts, Continue Reading
