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

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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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Huge Oil Slick Hitting Oman’s Shoreline as Agencies Warn of Disaster

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By Jonathan Saul and Catherine Cartier Slick grown exponentially since end-July, Greenpeace says IOPC Funds will not cover clean-up citing ‘act of war’ U.N.’s IMO says contingency planning in place Tanker held 800,000 barrels of Russian oil, was under sanctions LONDON, Aug 12 (Reuters) – A vast oil spill from a leaking tanker has started …

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Oil Supply Shortfall Worsens Despite Hit to Demand From Iran War, Says IEA

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World faces a shortfall of 1.8 million barrels a day this quarter By Grant Smith Global oil markets are undergoing a more severe supply squeeze than expected following renewed escalation in the Iran war, even as demand takes a deeper hit from higher prices, the International Energy Agency (IEA) said. The world faces a shortfall …

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

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(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

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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

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(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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Saudi Red Sea Oil Exports Go Dark as Houthi Attack Threat Grows

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Summary All recent Yanbu crude loadings conducted without AIS signals Dark voyages create wide discrepancies in Saudi export estimates Saudi crude loadings from Egypt’s Sidi Kerir hit record: Vortexa LONDON, Aug 12 (Reuters) – Saudi crude exports from the Red Sea are increasingly vanishing ​from view as tankers switch off tracking signals to avoid attacks …

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IEA Slashes 2026 Supply Forecast as Hormuz Reopening Remains Elusive

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Summary IEA sees 1.8 million bpd oil market deficit in Q3 Sees 2026 global oil demand contracting by 1.6 million bpd Middle East output 8.3 million bpd below pre-war levels in July Russian refinery runs hovered near 20-year low after Ukrainian drone attacks, IEA says (Reuters) – Global oil ​supply will fall by 4.3 million …

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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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