US Crude and Gasoline Inventories Fell Last Week on Strong Demand, EIA Says
(Reuters) – U.S. crude and gasoline stockpiles fell last week as demand remained elevated, while distillate inventories were up, the Energy Information Administration said on Wednesday. Crude inventories fell by…
US Draws Down Record Volumes of Crude Oil From Stocks, EIA Says
(Reuters) – The United States withdrew 17.8 million barrels of crude oil from its inventories, the highest on record, the Energy Information Administration said on Wednesday, as the Iran war…
IEA: Oil Shock Sparks Surge in EV Sales
Electric vehicle sales could hit nearly 30% of all car sales in the world this year as drivers accelerate a shift to EVs and hybrids amid spiking fuel prices in…
Goldman Sachs Says US Natural Gas Output Shows Signs of Price Sensitivity
Goldman Sachs said in a note on Tuesday that U.S. natural gas production is showing signs of price sensitivity as Henry Hub prices moved back above $3 per million British…
Iran War Boosts US Shale Oil But Only So Much: Bousso
(Reuters) – U.S. shale oil drillers have responded rapidly to the surge in crude prices since the start of the Iran war by ramping up production, but output gains are…
Trump Blinks as Big, Bad Bond Market Bares its Teeth: McGeever
(Reuters) – U.S. President Donald Trump is discovering – yet again – just how unforgiving and powerful bond markets can be. A global selloff has swept through sovereign debt markets,…
Energean Slashes Dividend After Israel Gas Shutdown Cuts Output
UK-based oil and gas producer Energean plc on Wednesday slashed its first-quarter dividend and full-year production outlook following a 41-day halt to production at a gas field offshore Israel due…
Woodside CEO: Markets Are Badly Underestimating the LNG Supply Shock
The global gas markets are seriously underestimating how the shock loss of LNG supply from the Middle East will affect the world and economies in the coming months and years,…
Indonesia Tightens Grip on Key Commodity Exports
Indonesia, the world’s biggest nickel producer and top coal exporter, is moving to tighten control over exports of key commodities, Indonesian President Prabowo Subianto said on Wednesday. The government is…
Three Supertankers Carrying 6 Million Barrels Exit Strait of Hormuz
Three commercial supertankers carrying a combined 6 million barrels of Middle East crude oil have successfully exited the Strait of Hormuz, Reuters reports. The vessels departed the strategic waterway on…
