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The administration of President Joe Biden is slowly putting oil back into the Strategic Petroleum Reserve, after selling a record amount from the emergency stockpile in 2022. Here are some facts about the SPR and U.S. efforts to buy oil back to fill it. WHAT IS THE SPR? It is the world’s largest emergency oil …
U.S. natural gas futures climbed about 4% to a one-month high on Thursday on a drop in daily output and forecasts for colder weather and higher heating demand over the next two weeks than previously expected. That price increase came ahead of a federal report expected to show last week’s storage withdrawal was smaller than …
U.S. Natgas Prices Rise 4% to One-Month High Ahead of Storage Report Read More »
Summary Shutdown of Libya’s Sharara oilfield tightens supply U.S. crude inventories fall more than expected -API Coming up: EIA supply report, 1600 GMT (Reuters) – Oil rose by about 1% on Thursday, extending gains on concerns over Middle Eastern supply after disruptions at an oilfield in Libya and heightened tensions relating to the Israel-Hamas war. …
Curtis Williams Jan 3 (Reuters) – Shell PLC (SHEL.L) has joined BP PLC (BP.L) in its battle against Venture Global LNG, accusing the liquefied natural gas (LNG) producer of denying it and other customers access to supplies while exporting more than $18 billion worth of the superchilled gas, according to a filing with U.S. regulators. Venture Global’s Calcasieu Pass …
Shell backs BP in fight Over Venture Global LNG Exports Read More »
The U.S. is seeking to buy up to 3 million barrels of U.S.-produced sour crude oil for delivery in April to help replenish the Strategic Petroleum Reserve (SPR), the Department of Energy said in a statement on Wednesday. President Joe Biden’s administration is slowly purchasing oil for the SPR after it sold a record 180 …
U.S. Seeks 3 Mln barrels of Crude for Strategic Reserve Read More »
U.S. natural gas futures gained about 2% to a one-week high on Wednesday on a decline in daily output and forecasts for colder weather in mid January than previously expected. That price increase came despite forecasts for milder weather and lower heating demand this week and next than previously expected, and a small decline in …
U.S. Natgas Prices Gain 2% to One-Week High on Colder January Forecasts Read More »
