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A drop in crude oil prices has put the U.S. back in the market for replenishing the Strategic Petroleum Reserve after selling off a record amount of crude from the stockpile in 2022. A little more than a month ago the Department of Energy canceled the purchase of about 3 million barrels of oil for …
Lower Oil Puts U.S. in Market to Buy for Strategic Petroleum Reserve, For Now Read More »
Top executives at U.S. oil giants Exxon Mobil and Chevron Corp said on Monday that the U.S. needs to clarify rules on energy subsidies to drive the rapid, large-scale investments needed to fight climate change. President Joe Biden has been trying to encourage energy producers to slash emissions using technologies like carbon capture and green hydrogen that are expensive …
Exxon, Chevron CEOs Seek Clear Rules on U..S Clean Energy Subsidies Read More »
The U.S. has sufficient supply of oil in the Strategic Petroleum Reserve to address any supply concerns and is monitoring markets on how to use it, Amos Hochstein, President Joe Biden’s energy adviser, said on Monday. The SPR is still near 40-year lows after Biden directed the largest ever sale of 180 million barrels from …
Overcoming multiple bottlenecks will be essential for scaling up key technologies required to reduce GHG emissions and address the adverse consequences of climate change. The technologies that must be scaled up and reduced in cost are: Geothermal, nuclear, solar and wind electricity generation. Batteries and hydro storage to increase the effective production of intermittent electricity …
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 …
U.S. Crude Stocks and Gasoline Inventories Rise, Distillate Inventories Fall – EIA Read More »
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 …
Traders Scramble for U.S. Storage as Distillates Demand Disappoints Read More »
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 …
U.S. Crude Stockpiles Rise, Products Draw Down More Than Forecast – EIA Read More »
(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 …
California Battery Plant is Among World’s Largest as Power Storage Booms Read More »
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 …
U.S. Crude Stocks, Gasoline and Distillate Inventories Rise – EIA Read More »
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 …
Oil Market to Get ‘Extremely Tight’ in Second Half, Citadel Says Read More »
