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U.S. Crude Stocks and Gasoline Inventories Rise, Distillate Inventories Fall – EIA

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U.S. crude stocks and gasoline inventories rose while distillate inventories fell in the week ending April 26, the Energy Information Administration said on Wednesday. Crude inventories rose by 7.3 million barrels to 460.9 million barrels in the week ended April 26, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.1 …

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Traders Scramble for U.S. Storage as Distillates Demand Disappoints

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Traders are rushing to fill up storage tanks along the U.S. East Coast with distillate fuels, like diesel and heating oil, data from storage broker The Tank Tiger showed on Monday, a sign of deepening oversupply that is weighing on refiners’ profits. Largely warmer-than-expected winter weather in U.S. Northeast and Europe has cut distillates demand …

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U.S. Crude Stockpiles Rise, Products Draw Down More Than Forecast – EIA

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

U.S. crude oil stockpiles rose and gasoline and distillate inventories fell more than forecast last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 2.7 million barrels to 460 million barrels in the week ending April 12, the EIA said, nearly double analysts’ expectations in a Reuters poll for a 1.4 million-barrel …

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California Battery Plant is Among World’s Largest as Power Storage Booms

Batteries, Energy Storage, Energy Topics & Technology, Latest, US News / By

(Reuters) – A major battery plant near Los Angeles will be among the largest in the world when it comes online later this year, promising to shore up California’s power grid during the peak summer season and help the state a meet ambitious climate goals. Calpine’s billion-dollar Nova Power Bank, built on the site of …

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U.S. Crude Stocks, Gasoline and Distillate Inventories Rise – EIA

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

U.S. crude, gasoline and distillate inventories rose in the week ending April 5, the Energy Information Administration said on Wednesday. Crude inventories rose by 5.8 million barrels to 457.3 million barrels in the week ended April 5, the EIA said, compared with analysts’ expectations in a Reuters poll for a 2.4 million-barrel rise. Crude stocks …

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Oil Market to Get ‘Extremely Tight’ in Second Half, Citadel Says

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

Prices could rise to a level that will constrain demand OPEC regained control of the market, says Sebastian Barrack Bloomberg Global oil markets are on track to be “extremely tight” in the second half, with prices rising to a level that will eventually constrain demand if OPEC doesn’t bring back more supply, said the head …

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U.S. Crude Stocks Rise, Gasoline and Distillate Inventories Fall – EIA

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

U.S. crude stocks rose while gasoline and distillate inventories fell in the week ending March 29, the Energy Information Administration said on Wednesday. Crude inventories rose by 3.2 million barrels to 451.4 million barrels last week, the EIA said, compared with analysts’ expectations in a Reuters poll for a 1.5 million-barrel draw. Oil futures pared …

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U.S. Won’t Award Contracts for Louisiana SPR Site Over Oil Price, Energy Department Says

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

The U.S. Department of Energy on Wednesday said it will not award oil supply contracts for Louisiana’s Bayou Choctaw Strategic Petroleum Reserve (SPR) site in August and September due to high oil prices. “We monitor market dynamics to remain nimble and innovative in our successful replenishment approach to protect this critical national security asset,” said …

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U.S. to Buy Oil for SPR Oil at Above $79 Target Price in Latest Round

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

The Biden administration on Wednesday awarded contracts to buy 2.8 million barrels of oil for the government’s emergency reserve for more than $81 a barrel, $2 above the target purchase price. The Department of Energy (DOE) said it will spent $225.6 million to buy oil to refill the Strategic Petroleum Reserve (SPR) from Atlantic Trading …

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