Daily Oil & Energy News
U.S. crude oil stockpiles rose for a 10th week in a row last week even as refineries boosted output and exports increased, the Energy Information Administration said on Wednesday. Crude Continue Reading
Rebounding refinery utilization and stepped-up export activity failed to blunt US crude stock growth, which extended for a 10th consecutive week, US Energy Information Administration data showed Wednesday. Receive daily Continue Reading
Oil markets appear to be full of uncertainty, awaiting the outcome of the OPEC+ meeting for more direction. But some clues about the trajectory of oil prices in 2019 may Continue Reading
Home sales are slowing as interest rates rise. David Zalubowski/Associated Press WASHINGTON — Emerging signs of weakness in major economic sectors, including auto manufacturing, agriculture and home building, are prompting Continue Reading
The Trump Administration has temporarily frozen a program meant to exempt small oil refineries in financial distress from the U.S. biofuels law, as it reviews the scoring system to evaluate Continue Reading
For years, boosters of U.S. LNG have trumpeted the fact that gas exports from the Gulf of Mexico could break Russia’s grip on the European energy market. That has yet Continue Reading
The American Petroleum Institute (API) reported a crude oil inventory build of 3.453 million barrels for the week ending November 23, compared to analyst expectations that we would see a Continue Reading
The day before Thanksgiving, US president Donald Trump thanked the Kingdom of Saudi Arabia for making oil cheaper. “Like a big tax cut for America,” is how he described it. Continue Reading
The federal government’s sweeping new National Climate Assessment is more than just a dire warning about current and future global warming effects across the United States. It’s also the most Continue Reading
Chinese officials have said their priority at the meeting between Mr. Trump and President Xi Jinping is to convince the U.S. to suspend the planned Jan. 1 increase in tariffs Continue Reading
The Corpus Christi Ship Channel Improvement Project will cost an estimated $360 million. Nearly one-half of the $360 million needed to widen and deepen the Corpus Christi Ship Channel to Continue Reading
The housing sector has slowed in the face of higher interest rates and the domestic energy sector faces a big drop in oil prices that could damp hiring and investment Continue Reading
The federal report concluded “that the evidence of human-caused climate change is overwhelming and continues to strengthen, that the impacts of climate change are intensifying across the country, and that Continue Reading
Politicians and unions reacted with anger, but investors at least applauded General Motors’ decision to wield the ax. As far as Wall Street is concerned, the carmaker’s Monday morning announcement Continue Reading
President Trump recently took credit for the plunge in oil prices since early October. As I noted in a recent article , it’s true that the President’s actions have contributed Continue Reading
The Trump White House, which has defined itself by a willingness to dismiss scientific findings and propose its own facts, on Friday issued a scientific report that directly contradicts its Continue Reading
Antonio Sortino In August, a lawyer for Exxon Mobil told a state court in Manhattan that New York’s attorney general should either sue the company for misleading investors about the Continue Reading
“Saudi Arabia — if we broke with them, I think your oil prices would go through the roof. I’ve kept them down,” President Trump told reporters on Tuesday. “They’ve helped Continue Reading
The chips are finally starting to fall in place for Saudi Arabia over the killing of dissident Saudi journalist Jamal Khashoggi last month. Early Thursday, Denmark announced that it had Continue Reading
Iran’s largest oil customer China is set to continue importing robust volumes of Iranian crude at least through the end of this year thanks to the U.S. waivers to eight Continue Reading
Recent activity in the US Gulf Coast shipping market signals that Chinese buyers have returned to buying US crudes oil after halting all imports of US grades in August and Continue Reading
(Reuters) – U.S. energy firms this week cut oil rigs for the first time in the three weeks as crude prices have fallen to their lowest in over a year. Continue Reading
An aerial rendering of the Jacksonville Export Project. SOURCE: Business Wire The U.S. Federal Energy Regulatory Commission (FERC) has granted Eagle LNG Partners a draft environmental impact statement (DEIS) for Continue Reading
What effect will Trump’s tariffs have on US LNG exporters in particular and LNG trade? China is the world’s second largest importer of LNG after Japan and an important customer Continue Reading
Iran’s president Hassan Rouhani said on Monday that the country will continue to export oil despite fresh U.S. sanctions, which he described as “psychological war doomed to failure.” “We will Continue Reading
The number of wells producing crude oil and natural gas in the United States declined in 2017, according to the U.S. Energy Information Administration (EIA). © Shutterstock Oil and gas Continue Reading
In Tuesday’s technical update , I discussed the breakdown in the major markets both internationally as well as domestically. Of note, was the massive bear market in China which is Continue Reading
Oil prices are now down over 20 percent from recent highs, and President Trump knows exactly where the credit for that belongs. “If you look at oil prices they’ve come Continue Reading
The carnage caused by the wildfires sweeping northern California continued to grow more than a week after the blaze ignited, as the number of people missing leaped to more than Continue Reading
The wildfires that have laid waste to vast parts of California are presenting residents with a new danger: air so thick with smoke it ranks among the dirtiest in the Continue Reading
November power burn outpaces 2017 average by 1.6 Bcf/d 6,650 MW of coal-fired capacity retired since March Denver — Narrowing gas price elasticity in the US power sector could drive Continue Reading
One project could provide 10 hours of energy storage at low cost Research could lead to larger, cheaper more efficient wind turbines New York — A US Department of Energy Continue Reading
The US Department of Energy announced $98 million in funding for 40 new projects as part of OPEN 2018, the Advanced Research Projects Agency-Energy’s (ARPA-E) latest open funding opportunity. OPEN Continue Reading
The wildfires that have laid waste to vast parts of California are presenting residents with a new danger: air so thick with smoke it ranks among the dirtiest in the Continue Reading
The Trump administration plans to set up a side-event promoting fossil fuels at the annual U.N. climate talks next month, repeating a strategy that infuriated global-warming activists during last year’s Continue Reading
Cold weather blanketing much of the United States this week boosted spot natural gas prices for Thursday to their highest since January in several regions, while natural gas futures slid Continue Reading
A group representing biofuel companies asked a federal judge on Tuesday to force the U.S. Environmental Protection Agency to stop exempting small refineries from renewable fuel laws until a lawsuit Continue Reading
The long losing streak in oil prices over the past two weeks was the result of U.S. policies and soaring American oil production, Ed Morse, head of commodities research at Continue Reading
The US Department of Interior said Thursday it was preparing an environmental impact statement for a 2019 lease sale that would open as much as 65 million acres of federal Continue Reading
The U.S. Department of the Interior said on Thursday that it intends to prepare an Environmental Impact Statement (EIS) for a potential 2019 oil and gas lease sale in the Continue Reading
Hurricane Harvey’s flooding of Houston, with 50 inches of rain in some places, contributed to 2017’s record losses from climate and weather disasters, NOAA reports. Credit: Win McNamee/Getty Images Hurricane Continue Reading
IHS Markit contends that the total 2017 US merchandise trade deficit was nearly $250 billion lower than it would have been otherwise had the petroleum trade deficit remained at the Continue Reading
The U.S. oil market is scrambling to adjust to a deep selloff over the last several weeks, with forward prices signaling a supply glut which could upend plans for producers Continue Reading
OPEC built a case on Tuesday for cutting oil output when it meets next month, warning that a supply glut could emerge in 2019 as the world economy slows and Continue Reading
As firefighters in California battle to contain the deadliest and most destructive wildfire in state history, a climate scientist says the reality on the ground is surpassing what a government Continue Reading
The potential for more tensions in relations between the U.S. and Russia continue to mount. Late last week, U.S. Energy Secretary Rick Perry said that Washington could still impose sanctions Continue Reading
Wayne Smith was hardened to a certain level of chaos here, on land the American public owns. But even he was incredulous as he surveyed an area he leases for Continue Reading
As many nuclear power plants in the United States risk closure before their operating licenses expire, earlier shutdowns will not threaten the reliability of U.S. electricity, but could result in Continue Reading
A general view of an oil dock is seen from a ship at the port of Kalantari in the city of Chabahar, 300km (186 miles) east of the Strait of Continue Reading
The United States on Monday re-imposed sanctions against Iran’s oil exports to punish Tehran for its involvement in several Middle Eastern conflicts. Washington had been pushing governments to cut imports Continue Reading