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US Crude Stocks Rise, Gasoline and Distillate Inventories Fall, EIA Says

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(Reuters) – U.S. crude stocks rose as refining activity slipped last week, while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday. Crude inventories rose by 5.8 million barrels to 422.7 million barrels in the week ended October 4, the EIA said, compared with analysts’ expectations in a Reuters poll for a …

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US Natgas Output to Decline as Demand Hits Record High in 2024, EIA says

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U.S. natural gas production will decline in 2024 while demand will rise to a record high, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday. EIA projected dry gas production will ease from a record 103.8 billion cubic feet per day (bcfd) in 2023 to 103.5 bcfd in …

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Over 160,000 US Customers Without Power as Hurricane Milton Approaches

Electricity Grid, Energy Topics & Technology, Latest, US News / By

(Reuters) – More than 160,000 homes and businesses in Georgia, the Carolinas, Texas and California were without power on Wednesday as Hurricane Milton is expected to make landfall on Florida’s Gulf Coast late Wednesday, according to PowerOutage.us. The utility with the most outages was U.S. energy company Duke Energy, a major supplier in the Carolinas, …

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Hurricane Milton Approaches Florida With 155 MPH Winds

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Storm triggers evacuations along state’s battered west coast Milton is menacing Tampa Bay with a dangerous storm surge Hurricane Milton is set to approach the Florida peninsula as a catastrophic Category 4 storm, bearing down on a region still struggling to recover from Helene’s devastation. Milton’s top wind speed slowed slightly to 155 miles (249 kilometers) per …

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Renewable Energy to Fall Short of UN Goal to Triple by 2030, IEA Says

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Summary Renewables should meet nearly half of world’s electricity demand Growth not enough to meet triple capacity target set at COP28 Increase driven as renewables often cheapest option But millions of kilometres of grid upgrades needed (Reuters) – Renewable energy sources are set to meet nearly half of all electricity demand by the end of …

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Woodside Completes $1.2 Bln Tellurian Acquisition

Energy Topics & Technology, Latest, LNG, Mergers and Acquisitions, US News / By

(Reuters) – Woodside Energy said on Wednesday it has completed the acquisition of U.S. liquefied natural gas developer Telluria, including its U.S. Gulf Coast LNG export project, for $1.2 billion including debt. Last week, Tellurian shareholders had voted in favour of its proposed acquisition by the Australian energy producer. Woodside said it has renamed the Driftwood LNG …

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Brookfield Seeks US$1 Billion Green-Power Deals

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The asset manager has raised US$10 billion for a fund dedicated to investing in the energy transition Bloomberg News The asset manager said earlier this year that it raised US$10 billion for a fund dedicated to investing in the energy transition as well as US$2.4 billion for a similar fund focused on emerging markets. It’s …

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Cryptominer MARA Taps U.S. Shale Patch Power Generation in New Pilot Program

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(Reuters) – MARA Holdings Inc., the world’s largest publicly traded bitcoin miner, has begun producing power in the U.S. shale patch as part of a pilot program to fuel 25 megawatts of its mining operations with excess natural gas, the company told Reuters on Tuesday. The move comes as intensifying competition for electricity between Big …

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The Oil Market’s Bumper Volatility Won’t Go Away Anytime Soon

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A week is a long time in the oil market. When traders hit their desks last Monday, Brent crude was trading closer to $70 a barrel. Their concerns largely centered on shaky supply-and-demand balances next year and additional OPEC+ barrels in the coming months. But events in the Middle East have since sent prices into overdrive near …

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Oil Rally Pauses as Investors Await Israeli Response

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Summary Concern over potential oil supply disruption eases China ‘fully confident’ it will meet full-year economic targets US API inventory data due at 2030 GMT (Reuters) – A rally in oil prices took a break on Tuesday as the market waits for Israel’s response to last week’s Iranian rocket attacks that triggered a price surge …

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