(Reuters) – The amount of oil in storage that is accessible to the global market is running low, industry executives said at a forum in London this week, making the market more fragile and putting upward pressure on prices. Governments and energy companies have drawn oil from stockpiles to alleviate pressure in a global oil …
The World Has Nearly Burned Through its Oil Stockpile Buffer, Executives Say Read More »
EnergyNow Morning Oil Price Report Report Date & Time: October 6, 2026 – 8:42 a.m. MDT – Using Trading View Prices See Up-To-Date Prices Here Summary WTI crude is approximately US$87.60 per barrel, down US$1.83, or 2.05%, from Monday’s official settlement of US$89.43. Oil has weakened significantly since the earlier morning report as improving Middle …
Around 12 million barrels per day of crude oil and 2 million bpd of refined products — volumes needed to dampen price pressure — have left the Middle East on tankers in the last 7 to 10 days, commodities trading giant Vitol’s CEO said on Tuesday. With inventories in the West largely drained, that …
Around 14 Million Barrels Per Day leaving Middle East, Vitol CEO Says Read More »
Oct 5 (Reuters) – US Vice President JD Vance said on Monday that a long-planned liquefied natural gas pipeline in Alaska was going to happen, but there were still some details that needed to be worked out with South Korea. Last week, US President Donald Trump announced plans for South Korea to invest $200 billion …
Vance Says Details of Proposed Alaska LNG Pipeline Need to be Worked Out Read More »
Aramco CEO says replenishing global inventories could take up to two years ConocoPhillips chair says global oil demand may not recover until 2028 or 2029 About 6 million bpd of refined products supply is missing, Kuwait Petroleum CEO says LONDON, Oct 5 (Reuters) – Shipping bottlenecks, deep cuts in refinery output and inventory draws that …
Oil Market Turmoil Could Last for Years, Executives Say Read More »
Oct 5 (Reuters) – Baker Hughes (BKR.O) said on Monday it has signed an agreement with Venezuelan state oil company PDVSA, engineering firm Lindsayca and LNG developer Fulcrum LNG to develop natural gas infrastructure in the South American country. The US oilfield services company also entered into a separate agreement with New Stratus Energy to …
Baker Hughes Signs Agreements to Expand Venezuela Gas Infrastructure Read More »
WASHINGTON, Oct 5 (Reuters) – U.S. President Donald Trump, under pressure from rising energy prices fueled by the war in Iran, on Monday tried to shift the blame for high gasoline prices to the Democrats and Ukraine’s attacks on Russian refineries. “What’s driving up Gasoline is no longer the Strait of Hormuz, because Record Numbers …
As Iran War Drives Up Gasoline Prices in US, Trump Blames Ukraine, Democrats Read More »
By Jacob Bogage Energy Department to announce $150 million funding for 223-mile Alaska transmission line, official says Transmission project would serve nearly three-quarters of Alaska’s roughly 735,000 residents, official says Trump administration has highlighted energy announcements amid voter gasoline price concerns ABOARD AIR FORCE TWO, Oct 5 (Reuters) – The US Energy Department will announce …
By API – American Petroleum Institute Last week, the Senate introduced the Bipartisan American Affordability and Jobs Act of 2026, creating a historic opportunity to modernize the federal permitting process, strengthen American competitiveness and help address affordability challenges facing consumers. President Trump and Senators Shelley Moore Capito, Mike Lee, Sheldon Whitehouse and Martin Heinrich helped forge …
Spain’s crude oil imports from Venezuela through August were the highest in two decades following moves by Washington and Caracas to reopen the South American country’s oil sector to international investment. * Between January and August, Spain imported 2.32 million metric tons of crude from Venezuela, the highest for this period since the 2.39 million …
Spain’s Imports of Venezuelan Oil at Highest in 20 Years Read More »
