Energy Storage

(Reuters) – Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell by about 5.1 million barrels to 311.4 million barrels last week, the lowest level since March 1983, according to data from the Department of Energy. The drawdowns are part of a U.S. agreement to release 172 million barrels from the facility. Since …

Oil Stocks in US Strategic Petroleum Reserve Fall by 5.1 Million Barrels to Lowest Level Since 1983 Read More »

(Reuters) – The U.S. Energy Information Administration said on Thursday it was reviewing the results of a pilot study to better understand minimum working crude oil inventory for some storage hubs at Cushing, Oklahoma, after stocks reached levels that may constrain normal operations. Cushing, the delivery point for U.S. West Texas Intermediate (WTI) crude futures, …

US EIA Reviews Crude Storage Limits After Iran War Drains Cushing Inventories Read More »

(Reuters) – U.S. oil and gasoline stocks fell last week, the U.S. Energy Information Administration said on Wednesday, as refiners stepped up their crude processing and gasoline demand remained sturdy in the summer driving season. Crude inventories fell by 1.7 million barrels to 409.7 million barrels in the week to July 10, the EIA said, …

US Crude Stocks Fall as Refiners Step Up Processing, EIA Says Read More »

(Reuters) – Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell by about 3 million barrels last week to 316.5 million barrels, the lowest level since April 1983, according to data from the Department of Energy. The drawdowns are a part of a U.S. agreement to release 172 million barrels from the facility. …

Crude Stocks in US Strategic Reserve Fall 3 Million Barrels to Lowest Level Since 1983 Read More »

(Reuters) – Governments are set to buy millions of barrels of oil through 2028 to rebuild emergency reserves depleted by drawdowns to plug a gap in global supply caused by the U.S.-Israeli war on Iran, analysts and officials said. This could boost demand for crude that would absorb some of the expected global supply surplus …

Strategic Oil Reserve Buying Set to Support Crude Demand Through 2028 Read More »

(Reuters) – Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell by 6.2 million barrels in the week ending July 3 to 319.5 million barrels, the lowest level since April 1983, according to data from the Department of Energy. The drawdown is part of a U.S. agreement to release 172 million barrels from …

Oil Stocks in US Strategic Petroleum Reserve Fall to Lowest Level Since 1983 Read More »

(Reuters) – Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell by 5.5 million barrels to 325.7 million barrels, the lowest level since May 1983, according to data from the Department of Energy. The drawdowns are a part of a U.S. agreement to release 172 million barrels from the facility. Reporting by Arathy …

Oil Stocks in US Strategic Petroleum Reserve Fall by 5.5 Million to Lowest Level Since 1983 Read More »

This week, API launched the American Energy Security Framework — a roadmap for a stronger, more flexible energy system built on secure supply, modern infrastructure and resilience. One of its key recommendations is modernizing the Strategic Petroleum Reserve to improve delivery capability, operational flexibility and emergency readiness. America’s Strategic Petroleum Reserve Deep underground, inside enormous …

AMERICAN ENERGY SNAPSHOT: America’s Strategic Petroleum Reserve Read More »

(Reuters) – Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell to 331.2 million barrels last week, the lowest level since June 1983, according to data from the Department of Energy, as supplies continued to tighten in the fallout of the U.S.-Iran war. Inventories in the government’s emergency stash fell by 9.05 million …

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