US Crude Stocks and Distillate Inventories Fall, Gasoline Inventories Rise, EIA Says

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(Reuters) – U.S. crude stocks and distillate inventories fell while gasoline inventories rose last week, the Energy Information Administration said on Wednesday. Crude inventories fell by 3.2 million barrels to 424.1 million barrels in the week ended October 2, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.7 million-barrel rise. …

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US SEC Will Not Pursue Charges Against Climate Group, Warns of Disclosure Obligations

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(Reuters) – The US Securities and Exchange Commission disclosed in a report on Wednesday that it had investigated the actions of a climate group in connection with a May 2021 ExxonMobil shareholder meeting and has chosen not to pursue charges against it. But the SEC warned that it had concerns about actions by the group, …

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US “Ideas” on Iran’s Nuclear Work are at Odds With Tehran’s Demands, Senior Iranian Official Tells Reuters

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(Reuters) – Washington’s “requests and ideas” about Iran’s nuclear programme are at odds with Tehran’s demands, a senior Iranian official told Reuters on Wednesday when asked about US Vice President JD Vance’s comment that Tehran must cut enrichment to end the war with Washington. “Vance’s comments are Washington’s ideas and requests (…) Americans are free …

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Iranian Official Says ‘Illegal Routes’ in Strait of Hormuz to Soon be Blocked

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  Transit routes in the Strait of Hormuz deemed illegal by Iran will soon be closed, an adviser to the Revolutionary Guards’ Commander told the semi-official Fars News Agency on Wednesday, referring to the southern pathway hugging Oman’s coast. Mohammadreza Naqdi said these “few routes” had been created by blasting and damaging some of the …

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Closer to the Work: Why Proximity Matters More Than Ever in US Energy Project Execution

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As Gulf Coast investment accelerates, engineering firms are discovering that being capable of serving a market isn’t the same as being present in it. Engineering has never been more connected. A project in Texas can draw on expertise from across North America. Engineering teams can collaborate virtually across disciplines, offices and time zones. Specialized talent …

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STORM BREWING: US Forecasts Hurricane Later This Week in Gulf of Mexico

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US forecasters said on Tuesday a storm forming in the Gulf of Mexico and speeding towards Louisiana and Mississippi would become the first Atlantic hurricane of 2026 within two days. Currently named Tropical Depression Nine, the cyclone would be at tropical storm strength by early Wednesday, the National Hurricane Center said. “The depression is expected …

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Chevron to Divest Midstream Assets in Bakken Restructuring

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  Chevron said on Tuesday it had agreed to sell its stakes in Hess Midstream and DJ Basin crude oil midstream assets as part of a broader restructuring of its Bakken midstream agreements aimed at cutting costs and boosting returns. The transaction would remove Hess Midstream from Chevron’s balance sheet, including about $3.7 billion of …

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Trump Says He is Thinking About Suspending Federal Gas Tax

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(Reuters) – President Donald Trump said on Tuesday he was thinking about suspending the federal gas tax as high gas and diesel prices pose a risk to his Republican Party heading into the November midterm US elections. DETAILS AND QUOTES: “We’re thinking about that,” Trump said when asked if the federal gas tax should be …

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High Gas Prices Could Make US LNG Uncompetitive, Says Fulcrum LNG Chief

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(Reuters) – Liquefied natural gas projects in the US could become uncompetitive if domestic natural gas prices continue rising, the CEO of developer Fulcrum LNG, Jesus Bronchalo, said on Tuesday. Speaking at a panel discussion at Rice University’s Baker Institute, Bronchalo said natural gas prices are likely to increase more in the US, already one …

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The World Has Nearly Burned Through its Oil Stockpile Buffer, Executives Say

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(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 …

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