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COMMENTARY: The US Says More Oil is Leaving the Middle East, But is it Really?: Russell

Conventional Energy, Latest, Oil, US News / By

  Just how much crude oil is leaving the Strait of Hormuz? U.S. Energy Secretary Chris Wright claims almost nine million barrels per day, but the companies that track vessel movements say at best it is about half this volume. The amount of crude leaving the Middle East via the narrow chokepoint matters, as it’s …

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BofA to Plow $250 Billion Into Critical Infrastructure Projects

Electricity Grid, Energy Topics & Technology, Latest, US News / By

By Paula Seligson and Katherine Doherty Bank of America Corp. unveiled a $250 billion initiative to invest in critical infrastructure across the US over the next year, joining its peers pushing for innovation across the country. The investment is intended for projects including data centers and compute power, renewable-power generation, energy storage, natural gas, electricity …

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U.S. Crude Inventories Rise by Most in 3.5 Years as Exports Slump

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

By Georgina Mccartney and Liz Hampton Crude inventories rise 17.4 million barrels to 424.4 million barrels, EIA says US crude exports fall to 3.06 million bpd, lowest since November 2025, EIA says Net US crude imports rise 1.77 million bpd, highest since June 2025, EIA says HOUSTON/DENVER, Aug 12 (Reuters) – U.S. crude stocks excluding …

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US Gulf of Mexico Oil and Gas Lease Sale Attracts $82.7 Million in High Bids

Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Offshore, Oil, US News / By

(Reuters) – The latest Trump administration sale of oil and gas drilling rights in the Gulf of Mexico attracted nearly $82.7 million in high bids on Wednesday, generating more money than a sale in March, but far less than one held in December. The Trump administration offered more than 80 million acres (32.4 million hectares) …

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US Crude Stocks See Largest Weekly Rise in 3.5 Years, EIA Says

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

trta (Reuters) – U.S. crude stocks excluding barrels in the Strategic Petroleum Reserve posted a surprise build and made their largest weekly gain since January 2023 last week as exports slumped, the Energy Information Administration said on Wednesday. Crude inventories rose by 17.4 million barrels to 424.4 million barrels in the week ended August 7, …

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Trump Says US Has ‘Total Control’ Over Strait of Hormuz

Conventional Energy, Latest, LNG, Oil, US News / By

(Reuters) – U.S. President Donald Trump on Wednesday said the United States in is control of the Strait of Hormuz. “The U.S.A. has total control over the Strait of Hormuz. I THINK WE WILL KEEP IT! Our Naval Blockade is being called, by everyone, “A WALL OF STEEL,” and there is nothing Iran can do …

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Virginia Data Center Boom Pushes Dominion Deeper Into Costly Power Market

Artificial Intelligence, Energy Topics & Technology, EnergyNow News and Press Releases, Latest, US News / By

  Summary Fuel costs could lift average monthly bill as much as 13% to $195 from $173 Virginia Electric expects 23% of energy supply from PJM wholesale market, up from 14% in 2021 Dominion says offshore wind project would save customers about $5 billion over first 10 year (Reuters) – Dominion’s ​fuel costs in Virginia …

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Venture Global Misses Quarterly Estimates as Lower LNG prices, Higher Costs Weigh

Conventional Energy, Latest, LNG, US News / By

  (Reuters) – Venture Global missed analysts’ estimates for quarterly revenue and adjusted core profit on Tuesday, as lower LNG prices at its Calcasieu ​Pass facility and higher operating and borrowing costs offset ‌stronger sales volumes from its Plaquemines project. Shares of the LNG company fell about 7% in premarket trading. Venture Global reported second-quarter adjusted …

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Phillips 66, Kinder Morgan, HF Sinclair Approve Western Gateway Pipeline Project

Energy Topics & Technology, Latest, Pipelines, US News / By

By Reuters (Reuters) – Phillips 66, Kinder Morgan and ​HF Sinclair said on ‌Tuesday they have finalized a joint venture agreement ​and decided to proceed with ​the proposed $5 billion Western Gateway ⁠Pipeline system. Phillips 66 will ​own 49.9% of the joint ​venture, Kinder Morgan 35.1% and HF Sinclair 15%, they added. Companies have ​been racing …

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Trump Extends Jones Act Waiver for 90 Days, Narrows Scope

Conventional Energy, Latest, Oil, US News / By

Summary New terms require case-by-case review of individual voyages, White House official says Waiver was due to expire on August 16 without extension About 208 Jones Act exemptions were used in nearly 5 months, US data showed (Reuters) – President Donald Trump has extended for 90 ‌days a waiver allowing foreign-flagged ships to transport oil …

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