Conventional Energy

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Oil Settles up Nearly 5% as Supply Fears Mount Despite Record Stocks Release Plan

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Summary Three more vessels hit in Strait of Hormuz Fourteen ships struck since Iran war began IEA proposes release of 400 million barrels of oil Analysts call release insufficient to ease supply woes US crude stocks up more than expected; fuel stocks drop (Reuters) – Oil prices settled ​up nearly 5% on Wednesday as fresh …

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Only Trump Can Approve Possible US Participation in Oil Release, Says Burgum

Conventional Energy, Latest, Oil, US News / By

(Reuters) – U.S. Interior Secretary Doug Burgum on Wednesday welcomed the International Energy Agency’s move to release 400 million barrels of oil, but said only President Donald Trump could approve participation by Washington in such a move. Burgum, speaking to CNBC, also said U.S. oil companies would soon announce increased production amid price spikes triggered …

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Trump to Invoke Emergency Law for California Oil Producer Sable, Bloomberg News Reports

Conventional Energy, Latest, Oil, US News / By

(Reuters) – U.S. President Donald Trump plans to invoke emergency law for Sable Offshore as it looks to restart production from a cluster of offshore platforms in California, Bloomberg News reported on Wednesday, citing a person familiar with the matter. Shares of Sable rose 16.3% to $16.75 in afternoon trading. Trump is preparing to summon …

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US Companies to Increase Oil Production Amid Iran Conflict, Interior Secretary Burgum Says

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

(Reuters) – U.S. Interior Secretary Doug Burgum said on Wednesday that U.S. oil companies will soon announce increased production amid price spikes due to the ongoing Iran conflict. “I think you’re going to see them all announcing that they’ve increased production, you know, here in the United States in response to the price signals and …

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Trump Announces New US Refinery Backed By India’s Reliance

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

By Erwin Seba and Nicole Jao India’s Reliance to invest in refinery, buy output Deal likely to reduce trade deficit with India Fuel prices spike as US, Israel attack Iran HOUSTON, March 10 (Reuters) – President Donald Trump on Tuesday announced the construction of a refinery on the southern U.S. border backed by India’s ​Reliance …

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COMMENTARY: Historic Oil Reserve Release is Only a Band-Aid on a Gaping Supply Shock

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

By Ron Bousso LONDON, March 11 (Reuters) – The International Energy Agency’s plan to release 400 million barrels of oil reserves is unprecedented in scale and desperately needed to blunt the devastating supply shock triggered by the Iran war. But it will offer only limited relief as long as energy exports from the Middle East …

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IEA Tackles Iran War Oil Price Spikes With Record Stocks Release Plan, Markets Not Convinced

CDN and International News, Conventional Energy, Latest, Oil / By

By America Hernandez and Alex Lawler IEA agrees to release record amount of oil in response to crisis Trump indicates he supports the IEA move Oil prices rise on concerns that move will not be enough PARIS/LONDON, March 11 (Reuters) – The International Energy Agency on Wednesday agreed to release 400 million barrels of ​oil, …

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Global LNG Hunt Intensifies as Middle East War Cuts Supply

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

By Priscila Azevedo Rocha, Sing Yee Ong, and Stephen Stapczynski A tense global hunt for liquefied natural gas sparked by the war in the Middle East is starting to shift physical supply flows, as more shipments bound for Europe are diverting to Asia. At least nine cargoes initially headed to Europe have changed course to …

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Canada Weighs Options to Boost Oil Supply as Iran War Causes Market Turmoil

CDN and International News, Conventional Energy, Latest, Oil / By

Rail shipments remain an option for transporting more oil By Laura Dhillon Kane and Robert Tuttle Canada is “urgently exploring options” with provinces and the energy industry to boost oil supply, as trade disruptions caused by war in the Middle East spur huge volatility in global crude markets. The country is looking at ways to …

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EU Considering Gas Price Cap to Curb Surging Energy Costs

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

By Kate Abnett and Charlotte Van Campenhout EU drafting proposals to relieve industries from high energy costs Gas price cap divides EU governments, similar to 2022 energy crisis Von der Leyen warns against ​returning to Russian energy sources BRUSSELS, March 11 (Reuters) – The European ‌Union is considering measures to curb energy prices, including by …

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