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(Reuters) – California government officials are trying to find a buyer for Valero Energy’s Benicia refinery near San Francisco, three sources familiar with the matter said, an unusual effort as the clock ticks down on the company’s planned closure of the facility in April. The rare attempt by a state government to broker the sale …
(Reuters) – U.S. crude oil and gasoline inventories fell last week, buoyed by stronger demand and exports, while distillate stockpiles rose, the U.S. Energy Information Administration (EIA) said on Wednesday. Crude inventories fell by 3.2 million barrels to 419 million barrels in the week ended July 18, the EIA said, double analysts’ expectations in a …
US Crude, Gasoline Stockpiles Fall, Distillates Build, EIA Says Read More »
(Reuters) – U.S. shale producer Continental Resources has dropped a lawsuit it filed against rival Hess Corp in May, which alleged it was defrauded out of up to $69 million through a series of deals the well operator conducted with its subsidiaries. Continental said that Hess, which operates hundreds of wells in North Dakota, artificially …
US Oil Producer Continental Resources Drops Fraud Lawsuit Against Rival Hess Read More »
(Reuters) – U.S. utilization of refinery operable capacity rose to 95.5% last week, the highest since June 2023, data from the U.S. Energy Information Administration showed on Wednesday. Refinery utilization in the U.S. Gulf Coast region rose in the week ended July 18 to 96.1%, a one-year high, the data showed. Reporting by Shariq Khan …
US Refinery Utilization Hits to Highest in Over Two Years, EIA Says Read More »
By Arathy Somasekhar US crude stockpiles fall, gasoline and distillates build US gasoline demand eases during peak driving season OPEC bullish on oil demand outlook HOUSTON, July 16 (Reuters) – Oil prices settled marginally lower on Wednesday as U.S. fuel inventory builds and concerns about wider economic impact from U.S. tariffs outweighed some signs of …
Oil Settles Down; Build in US Fuel Inventories Offsets Signs Demand Growing Read More »
By Stephanie Kelly Crude inventories drop by 3.9 mln bbls, surpassing forecast Brent and US crude futures extend losses after EIA report Crude exports rise to 3.5 mln bpd, EIA reports CHICAGO, July 16 – U.S. crude oil stockpiles fell last week as exports rose, while gasoline and distillate inventories rose, prompting some concerns about …
US Crude Stockpiles Fall as Exports Rise; Fuel Demand Drops, EIA Says Read More »
(July 16 – Reuters) – Giant shovels, driverless trucks and a dog-like robot have all helped Canada’s oil sands companies including Imperial Oil and Suncor become some of North America’s lowest-cost oil producers, driving down overheads even as the worst inflation in a generation pushed U.S. shale costs up. As the global oil industry enters …
How Canada’s Oil Sands Transformed Into One of North America’s Lowest-Cost Plays Read More »
(Reuters) – Oil prices rose on Wednesday on expectations of steady demand in the U.S. and China, the world’s two largest oil users, amid an improving economic outlook. Brent crude futures rose 29 cents, or 0.42%, to $69 a barrel by 0105 GMT. U.S. West Texas Intermediate crude futures were up 40 cents, or 0.6%, …
Oil Prices Gain on Demand Expectations amid Improving Economy Read More »
July 15 (Reuters) – Four contract workers were injured after a fire at Chevron’s (CVX.N) 356,440 barrels-per-day (bpd) Pascagoula, Mississippi refinery on Monday, the company said in an email statement. An incident at the refinery’s wastewater treatment area led to the fire, a Chevron spokesperson said. The spokesperson added that the fire was extinguished quickly …
Four Injured After Fire at Chevron Pascagoula, Mississippi Refinery Read More »
By Stephanie Kelly Potential sanctions on Russia could alter oil market outlook, ING analysts note China’s economic data supportive for prices despite global growth concerns NEW YORK, July 15 (Reuters) – Oil prices dropped by less than 1% on Tuesday after U.S. President Donald Trump’s 50-day deadline for Russia to end the war in Ukraine …
Oil Slips as Trump’s 50-Day Deadline for Russia Eases Supply Fears Read More »
