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(Reuters) – Companies that borrowed oil from the U.S. Strategic Petroleum Reserve in recent months will add an extra 40 million barrels of crude in the form of premiums after the conflict in Iran is over, U.S. Energy Secretary Chris Wright said on Friday in an interview on Fox Business. Fuel prices have spiked since …
(Reuters) – Global oil inventories are running dangerously low as a deal to re-open tanker traffic through the Strait of Hormuz has proven elusive, and industry executives and analysts warn there could be another oil price shock in the coming weeks, severe enough to upset broader financial markets. Some fear the next move higher for …
Global Oil Inventories Depleted, Next Price Spike Could Roil Economies, Markets Read More »
(Reuters) – U.S. crude, gasoline and distillate stockpiles fell last week, the Energy Information Administration said on Thursday, as demand jumped. Crude inventories fell by 3.3 million barrels to 441.7 million barrels in the week ended May 22, the EIA said, compared with analysts’ expectations in a Reuters poll for a 4.14 million-barrel draw. Crude …
US Crude, Fuel Inventories Fell Last Week, EIA Says Read More »
New York, May 27 (Reuters) – U.S. crude oil inventories fell for a sixth straight week last week, according to market sources citing American Petroleum Institute data released on Wednesday, while fuel stocks also fell. Crude stocks fell by 2.8 million barrels in the week ended May 22, the sources said on condition of anonymity. …
(Reuters) – A cargo of oil from the U.S. Strategic Petroleum Reserve headed to California this month for the first time ever, ship tracking service Kpler said. The unusual movement highlights the redrawing of trade flows and shipping routes as the Iran war has cut off supplies of Middle Eastern crude. California, once a top …
Oil From US Emergency Reserve Heads to California for the First Time, Kpler Says Read More »
(Reuters) – The United States withdrew 17.8 million barrels of crude oil from its inventories, the highest on record, the Energy Information Administration said on Wednesday, as the Iran war has cut global supplies and raised demand for U.S. crude and products. The country’s stock of oil fell to 819.2 million barrels as of May …
US Draws Down Record Volumes of Crude Oil From Stocks, EIA Says Read More »
Houston, May 19 (Reuters) – U.S. crude oil inventories fell for a fifth straight week last week, according to market sources citing American Petroleum Institute data released on Tuesday, while fuel stocks also fell. Crude stocks fell by 9.1 million barrels in the week ended May 15, the sources said on condition of anonymity. Gasoline …
Across North America, data centers have moved from being a background part of the digital economy to one of the most important pieces of modern infrastructure. They support cloud computing, online banking, streaming, ecommerce, government systems, scientific research, and now artificial intelligence. Their rapid expansion is creating major economic opportunities, but it is also …
(Reuters) – U.S. crude and gasoline stocks fell last week while distillate inventories rose, the U.S. Energy Information Administration said on Wednesday. Crude inventories fell by 4.3 million barrels to 452.9 million barrels last week, the EIA said, compared with analysts’ expectations in a Reuters poll for a 2.1-million-barrel draw. Crude stocks at the Cushing, …
US Crude and Gasoline Inventories Fell Last Week, Distillates Rose, EIA Says Read More »
By Timothy Gardner May 11 (Reuters) – The Trump administration said on Monday it will loan energy companies 53.3 million barrels of crude from the U.S. Strategic Petroleum Reserve as part of a global agreement to calm oil markets that have spiked on the U.S.-Israeli war with Iran. Nine companies, including Exxon Mobil (XOM.N), Trafigura, …
US to Loan 53.3 Million Barrels of Oil From Strategic Petroleum Reserve Read More »
