US oil producers ignore Biden’s rallying call to drill
As US motorists pay record prices at the pump, Joe Biden has pleaded with the country’s oil producers to open the taps and stem the surge. But those calls — Continue Reading
Biden Races to Expand Coalition Against Russia but Meets Resistance
Even before the start of the war in Ukraine, an international alliance to rally the world against a Russian invasion came together so quickly that President Biden later marveled at the “purpose Continue Reading
US energy envoy asks India to restrain Russian oil purchases
The Biden administration’s leading international energy adviser has called on India not to go “too far” as it increases imports of discounted Russian crude that has lost buyers in Europe. Continue Reading
Texas power use seen breaking records in heatwave through next week
Power demand in Texas will likely set fresh all-time highs every day from June 10-13 as economic growth boosts usage and homes and businesses keep their air conditioners cranked up Continue Reading
U.S. distillate stocks rise but supply remains tight
U.S. distillate inventories have started to climb seasonally – which should temper some of the bullishness about oil prices and refining margins in the short term. Stocks usually increase at Continue Reading
As Gas Prices Near $5 a Gallon, Record Fuel Costs Upend Businesses, U.S. Economy
As U.S. gasoline prices approach a record average of $5 a gallon, fuel costs are rippling through almost every corner of business, with signs emerging that the rising expenses are Continue Reading
Sweltering heat to bake Southwest before swallowing South, Southeast – The Washington Post
Temperatures are soaring as we head into the weekend beneath an intense and sprawling heat dome that will bring triple-digit heat to 45 million Americans in the coming week. Heat Continue Reading
The Future Is Bright For U.S. Natural Gas Producers
Russia’s invasion of Ukraine has changed the state of the global natural gas market forever. For U.S. natural gas producers, Europe’s desire to wean itself off natural gas has significantly Continue Reading
National Average Increases Alongside Gas Demand and Oil Prices
Since Monday, the national average for a gallon of regular gasoline has increased by 11 cents to $4.97. According to new data from the Energy Information Administration (EIA), total domestic Continue Reading
Equinor agrees to 15-year FOB deal to buy LNG supply from US exporter Cheniere
Highlights Deal covers 1.75 million mt/year of volumes High spot prices spurring long-term fixed-price deals Norway’s Equinor has agreed to a long-term FOB deal to buy 1.75 million mt/year of Continue Reading