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US Gasoline Stockpiles Hit 2-Year Low on Stronger Demand, EIA Says

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

By Georgina Mccartney HOUSTON, Oct 30 (Reuters) – U.S. gasoline stockpiles fell unexpectedly last week to a two-year low on strengthened demand, the Energy Information Administration (EIA) said on Wednesday, while crude inventories also posted a surprise drawdown as imports slipped. Gasoline stocks (USOILG=ECI) fell by 2.7 million barrels in the week ending Oct. 25 …

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ConocoPhillips Explores Sale of Permian Shale Assets Worth Over $1 Billion, Sources Say

Conventional Energy, Energy Topics & Technology, Latest, Mergers and Acquisitions, Oil, Shale, US News / By

ConocoPhillips is exploring a sale of some of its shale operations in the Permian Basin worth more than $1 billion, two years after an unsuccessful attempt to find a buyer for the same assets, people familiar with the matter said on Wednesday. The Houston, Texas-based oil and gas producer is looking to shed some non-core …

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Refiner Phillips 66 reports Q3 profit beat on midstream, chemicals strength

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

(Reuters) – Phillips 66 beat quarterly profit estimates on Tuesday as strength in its chemicals and midstream segments helped the refiner more than offset a slump in refining margins from lackluster fuel demand. The company, which owns nearly 72,000 miles of U.S. pipeline systems, has moved more fuel this year than before as it expands …

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US Seeks Up to 3 Million Barrels of Oil for Emergency Reserve

Conventional Energy, Latest, Oil, US News / By

Summary Move marks latest effort to increase oil reserve after 2022 sale Unclear how much money is left to buy more oil Future SPR replenishment depends on Congress amid political challenges (Reuters) – The U.S. on Monday said it is seeking up to 3 million barrels of oil for the Strategic Petroleum Reserve for delivery …

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Oil Hovers Near One-Month Lows With Supply Drivers Back in Focus

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Summary Brent, WTI inch up 0.5% Markets eye potential Israel-Hezbollah peace deal U.S. crude inventories unexpectedly fall – API To come: US EIA weekly data at 1430 GMT (Reuters) – Oil prices held steady near one-month lows on Wednesday, after sliding in the previous two sessions, as markets weighed a potential ceasefire between Israel and …

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US Sets New Safety Measures as Deep Sea Oil Drillers Test New Depths

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

Summary New rules add some specific equipment and reporting requirements Applies to projects with more than 15,000 PSI, or more than 350F Regulators expect rise in ultra-high pressure projects BP awards SLB a key contract for ultra-high pressure Kaskida project HOUSTON, Oct 29 (Reuters) – The Bureau of Safety and Environmental Enforcement (BSEE) rolled out …

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How do Trump and Harris Differ on Energy Policy?

Coal, Conventional Energy, Energy Commentary, Energy Topics & Technology, Latest, LNG, Natural Gas, Nuclear, Oil, US News / By

Republican Donald Trump and Democrat Kamala Harris have a couple of things in common on the issue of U.S. energy policy: both say they want to expand production and keep prices down for consumers. The core difference is that Harris says she wants to do so in a way that favors clean energy technologies crucial …

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Oil Prices Fall as Reality of Weak Global Demand Overtakes Risk of Wider War in Middle East

Conventional Energy, Latest, Oil, US News / By

Global oil prices are falling sharply after a retaliatory strike by Israel over the weekend targeted Iranian military sites rather than its energy infrastructure as had been feared. Prices for crude spiked globally on October 2 after Iran fired nearly 200 missiles into Israel, part of a series of rapidly escalating attacks between Israel and …

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Commentary: Crude Oil’s Middle East Risk Premium Fades, Demand Woes Remain

Conventional Energy, Latest, Oil, US News / By

By Clyde Russell SYDNEY, Oct 28 (Reuters) – For those seeking an answer to the question as to what the Middle East conflict risk premium is in the price of crude oil, the 5.3% drop in Brent futures early on Monday provides some enlightenment. Global benchmark Brent contracts dropped as low as $71.99 a barrel in …

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Oil Slips More Than 4% After Iran Downplays Israeli Strikes

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

Oil prices tumbled more than $3 a barrel on Monday after Israel’s retaliatory strike on Iran over the weekend bypassed Tehran’s oil and nuclear facilities and did not disrupt energy supplies, easing geopolitical tensions in the Middle East. Both Brent and U.S. West Texas Intermediate crude futures hit their lowest levels since Oct. 1 at …

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