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US Diesel Hits $4 Per Gallon as Fuel Costs Rise Amid Escalating Middle East Conflict

Conventional Energy, Diesel Fuel, Energy Topics & Technology, Latest, US News / By

Reuters  Average U.S. retail diesel prices surpassed $4 a gallon for the first time in nearly two years on Wednesday and are set to rise further later in the week as the U.S.-Israel conflict with Iran dragged on, threatening to hit consumers with sticker shocks on everything from food to furniture. Prices for diesel, used …

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Americas Heavy Crude Prices Hit Multi-Year Highs as Iran Conflict Disrupts Oil Markets

Conventional Energy, Energy Topics & Technology, Latest, Oil, Oilsands, Tri-Pinned, US News / By

Prices for heavy crude produced in the Americas surged to multi-year highs on Wednesday, as the U.S.-Israeli attacks on Iran stymied exports of similar oil produced in the Middle East. Benchmark crude oil prices have surged since the initial attacks last week, with Brent crude at its highest levels since January 2025. Iran has threatened …

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NO TAKERS: Oil Companies Shun Trump Administration’s Alaska Offshore Auction

Conventional Energy, Energy Topics & Technology, Latest, Offshore, Oil, Pinned Primary, US News / By

(Reuters) – Oil and gas drillers failed to show up at the Trump administration’s sale of more than 1 million acres (404,686 hectares) in Alaska’s Cook Inlet on Wednesday, declining to submit even a single bid. The sale was the first of six Alaska offshore oil and gas auctions mandated through 2032 by U.S. President …

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Insurance Broker Marsh Meets US Officials on Restoring Gulf Maritime Trade Amid Iran War

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(Reuters) – Insurance broker Marsh McLennan said on Wednesday it had met with U.S. officials to explore solutions for restoring maritime trade amid escalating fighting in the Middle East, as attacks in the region threaten energy shipments through the Strait of Hormuz. The waterway, a critical chokepoint between Iran and Oman, carries about a fifth …

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Oil Companies Shun Trump Administration’s Alaska Offshore Auction

Conventional Energy, Energy Topics & Technology, Latest, Offshore, Oil, US News / By

(Reuters) – Oil and gas drillers failed to show up at the Trump administration’s sale of more than 1 million acres (404,686 hectares) in Alaska’s Cook Inlet on Wednesday, declining to submit even a single bid. The sale was the first of six Alaska offshore oil and gas auctions mandated through 2032 by U.S. President …

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Putin Suggests Russia Could Stop Supplying Gas to European Markets Now

CDN and International News, Conventional Energy, Latest, LNG, Natural Gas / By

(Reuters) – Russian President Vladimir Putin suggested on Wednesday that Russia could stop supplying gas to European markets now and move to more promising markets. The European Commission will submit a legal proposal to permanently ban Russian oil imports on April 15, three days after Hungary’s parliamentary election, according to EU officials and a document …

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Qatar Shuts Gas Liquefaction, Will Take Weeks to Restart, Sources Say

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(Reuters) – Qatar will fully shut down gas liquefaction on Wednesday and won’t be able to return to normal production and export levels of super-chilled gas for at least a month, two sources familiar with the matter said. Qatar Energy, which stopped producing gas this week and declared force majeure on exports on Wednesday, did …

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US Crude Stocks Climb to Near 1-Year High as Exports and Imports Fall, EIA Says

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, Oil, US News / By

(Reuters) – U.S. crude stocks rose to their highest level since May 2025 last week, the Energy Information Administration said on Wednesday, as exports and imports declined. Crude inventories rose by 3.5 million barrels to 439.3 million barrels in the week ended February 27, the EIA said, compared with analysts’ expectations in a Reuters poll …

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Gas Giant QatarEnergy Throttles LNG Supply by Declaring Force Majeure

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(Reuters) – QatarEnergy has declared force majeure on shipments of liquefied natural gas, it said in a statement on Wednesday, after attacks on its production facilities amid the U.S.-Israeli war on Iran. The state-owned company said on Monday it was halting production of LNG and associated products due to attacks on facilities in the Ras …

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US Treasury Secretary Bessent Says Oil Market Well Supplied Amid Iran War

Conventional Energy, Latest, Oil, US News / By

(Reuters) – U.S. Treasury Secretary Scott Bessent said on Wednesday that crude oil markets are well supplied amid the U.S.-Israeli war in Iran, and that the U.S. plans to make a series of additional announcements on the issue. “The crude markets are very well supplied. There are hundreds of millions of barrels on the water …

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