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Summary Brent and WTI stabilise off previous session’s two-month lows Trump meets Putin on Friday to discuss war in Ukraine U.S. crude stocks rose unexpectedly last week, EIA says (Reuters) – Oil prices were stable on Thursday as investors weighed the potential impact of Friday’s U.S.-Russia summit on Ukraine on Russian crude flows, after U.S. …
U.S. crude and distillate inventories rose while gasoline stockpiles fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 3 million barrels to 426.7 million barrels in the week ended August 8, the EIA said, compared with analysts’ expectations in a Reuters poll for a 275,000-barrel draw. Crude stocks at the …
US Crude and Distillate Inventories Rise, Gasoline Inventories Fall, EIA says Read More »
Liquefied natural gas producer Venture Global expects to win its remaining arbitration cases against major energy companies following its victory against Shell, CEO Mike Sabel said on Wednesday. The Arlington-based company’s stock rose 8% at midday, a day after it won the legal battle over Shell’s failure to deliver LNG under long-term contracts starting in …
Crude oil flows on the Seaway pipeline in Texas fell on Wednesday, four sources said, as the pipeline’s operator reported a leak on the system to state regulators. The 950,000-barrel-per-day Seaway pipeline runs between Cushing, Oklahoma, and the Freeport, Texas, area and connects to the Enterprise Crude Houston (ECHO) terminal, a storage facility in southeast …
Crude Oil flows on Enterprise’s Texas Seaway Pipeline Fall, Leak Reported Read More »
Summary IEA expects global supply to rise by 2.5 million bpd in 2025 Trims forecast for demand growth this year to 680,000 bpd Global crude refining runs will approach record high in August Implied surplus to approach 3 million bpd in 2026 (Reuters) – World oil supply will rise more rapidly than expected this year …
World Oil Market Looks More ‘Bloated’ After OPEC+ Hike, IEA Says Read More »
Venture Global has won a legal battle against Shell over its failure to deliver liquefied natural gas under long-term contracts starting in 2023, the U.S. LNG major said on Tuesday. The company’s stock price rose almost 6% in after hour trade as investors cheered the decision. Firms, including Shell, BP, Edison and Galp, filed arbitration claims …
Venture Global Wins Arbitration Case Against Shell Over Contracted LNG Cargoes Read More »
Exxon Mobil could invest as much as $21.7 billion in Trinidad and Tobago if the U.S. energy major finds reserves in a large deepwater area it was awarded on Tuesday to explore for oil and gas in the Caribbean country, Energy Minister Roodal Moonilal said. Moonilal was speaking at an event in Port of Spain …
A Chevron-chartered tanker docked at Venezuelan state company PDVSA’s Jose terminal on Tuesday, positioning it to be the first to export crude to the United States under a new license Chevron received in July, LSEG tracking data showed. The U.S. Treasury Department late last month authorized Chevron to operate in the sanctioned OPEC nation again, …
Chevron-Chartered Tanker Docks at Venezuela to Load Oil After New US License Read More »
U.S. natural gas output and demand will both rise to record highs in 2025 before sliding in 2026, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook (STEO) on Tuesday. EIA projected dry gas production will rise from 103.2 billion cubic feet per day (bcfd) in 2024 to 106.4 bcfd in 2025 …
U.S. natural gas futures slid about 3% to an eight-month low on Tuesday on near-record output, ample supplies of the fuel in storage and forecasts of cooler weather and lower demand than previously expected through late August. The price decline was accompanied by a drop in daily gas flows to liquefied natural gas export plants …
