Trending News: Trump ‘Not Happy’ With Iran, Touts Strait ‘100% Shut’US Drillers Add Oil and Gas Rigs for Second Week in a Row, Says Baker HughesOwners of WildFire Energy Explore $4 Billion-Plus Sale of US Shale Operator, Sources SayUS LNG Exports to Asia Surged in April as Middle East Conflict Curtailed SupplySyria Still Leans on Russia for Oil SupplyTrump’s Trade Czar Says U.S. Looking to Work with Canada on Energy and Critical MineralsExxon Net Income Falls, Output Hit by Iran WarChevron’s Upstream Strength Lifts First-Quarter Earnings Past EstimateIran Threatens Painful Response if US Renews AttacksWhile Asia and Europe Scramble for Natural Gas, the US Glut Has Nowhere to GoU.S. Oil and Gas Firms Sign Deals to Operate in VenezuelaIran Warns of $140 Oil as Trump Holds Hormuz BlockadePakistan Imports First LNG Cargo in Weeks in Relief for Energy CrisisExxon Beats Q1 Earnings on Oil Price Surge Despite 6% Production DropINEOS and Sandpiper to develop $1.7bn blue methanol plant in Texas CityLinde juggles resilient and cyclical end market triosLinde backlog nears $10bn as project rollout continuesLinde backlog nears $10bn as project rollout continuesAir Products’ $9bn backlog shored up by AI-driven electronics boomAir Products’ $9bn backlog shored up by AI-driven electronics boomLinde cites construction challenges as Beaumont blue ammonia timeline slipsLinde expects further helium price risesLinde expects further helium price risesCavendish Hydrogen awarded €1.4m Northwest Europe refuelling station dealUS Naval Blockade Squeezes Iran’s Oil Exports, Forces Crude Onto Floating StorageTC Energy Approves $1.5 billion Columbia Gas Expansion After Profit Tops EstimatesSteady Oil Prices Set for Weekly Gain as Iran War Rumbles OnUS Has More Natural Gas Than It Can Use as War Chokes Global SupplyWhy $100 Oil is No Longer Spooking Equity MarketsCalifornians Now Paying 6 Bucks a Gallon for Kicks on Route 66Trump Reacts to UAE OPEC WithdrawalVideo | A centralised or decentralised future for hydrogen?Toyota fuel cells secure North America certification as it eyes stationary usesWoodside Struggles to Secure Buyers for U.S. LNG as Pricing BackfiresOil Prices Set for Another Weekly Gain as Supply Shock DeepensTotalEnergies Extends Fuel Price Cap in France as Middle East Crisis Drags OnLinde reports strong quarter despite global pressuresCrisis removes half a million tonnes of nitrogen fertiliserNew Mexico helium plant marketed amid tight supplyNew Mexico helium plant marketed amid tight marketBiogas-to-hydrogen ‘could halve costs’ versus electrolysis, webinar hearsNet Crude Supply Loss is 9 Million Bpd Despite Surge in Atlantic Exports: VortexRepsol Holds Off on U.S. Listing for Upstream Unit Despite 2026 PlansIndian Oil Raises LPG and Jet Fuel PricesUkraine Hits Major Russian Refinery, Pumping StationSoCalGas blocked from passing hydrogen pipeline costs to residential customersIndustry tech winners will be those who integrate‘Bubble-free’ electrolyser start-up plans Rotterdam pilot after €2.7m raiseWhy downsizing won’t solve Air Products’ $9bn Louisiana blue hydrogen problemTrump Eyes More U.S. Oil Output as Iran War Squeezes SupplyWoodside Struggles to Sell LNG Volumes at Louisiana LNG Plant, Sources SayTrump Signs Order Authorizing Bridger’s Canada-Wyoming Crude PipelineTangerine peel’s radiation health benefits researchedFuel loading begins at Changjiang 3Fusion industry leaders call for EU long-term planSecond Indian fuel cycle complex gets operating licencePJM’s First Reformed Queue Cycle Draws 811 Projects, 220 GWJP Morgan: UAE Could Attract More U.S. Investment After OPEC ExitStrait of Hormuz Fears Send California Gas Past $6 a GallonENEOS Takes 10% Stake in Malaysia LNG Tiga in New Deal With PetronasValero Energy Beats Profit Estimates on Strong Refining PerformanceIran Threatens Painful Response if US Resumes Attacks, Oil Prices SeesawConocoPhillips Cuts Annual Production Targets as Iran War Disrupts OperationsUS Has More Natural Gas Than It Can Use as War Chokes Global SupplyWhy $100 Oil is No Longer Spooking Equity Markets: Stephen JenUS Naval Blockade Squeezes Iran’s Oil Exports, Forces Crude Onto Floating StorageRussia Dismisses Price War Fears Following UAE Departure From OPEC+Crisis-Hit Southeast Asia Looks to Sign Petroleum Security PactTankers Move from Fuel to Crude Trade as War Upends FlowsENEOS acquires 10% equity stake in Petrona’s MLNG Tiga terminalEU backs ‘one-pot’ e-methanol push to cut costs and input energyAir Products confirms huge scale of expanding Samsung projectAir Products taps stored helium at a cost as Qatar outage hits supplyAir Products navigates eight key end markets through crisisEU opens €600m call for cross-border energy project proposalsProspect of Prolonged Iran War Disruption Drives Oil Forecasts HigherAir Products expects Asia helium supply to more than double amid electronics ‘super cycle’Air Products expects Asia helium supply to more than double amid electronics ‘super cycle’Air Products pushes NEOM green ammonia talks with Yara as war lifts grey pricesVideo | How many Chinese electrolyser OEMs will survive?The Iran War Has Already Destroyed 1.6 Million Bpd in Oil DemandWall Street Giants Circle Shell’s $15 Billion LNG Canada StakeCNPC Pledges to Ensure China’s Oil and Gas Supply Amid Iran CrisisTop Stories Of The Day: India Tops G20 Climate Goals; India’s First Inter-Track Metro Solar Project; POWERGRID Gets ₹4,000 Cr Loan and More…Air Products reports 9% sales growth in Q2 financialsAir Products reports 9% sales growth in Q2 financialsAir Products reports 9% sales growth in Q2Airengy Expands In Israel With 51% Stake In Green-Go To Boost Solar Project CapabilitiesSolaris wins German tender for 19 hydrogen fuel cell busesCould This be the Beginning of the End for OPEC?Blue Star nears full operations at Colorado helium plantBlue Star advances Colorado helium project toward full operationsWestern Australia Commits AU$1.4 billion To Upgrade Grid For Clean Energy TransitionMesser trims emissions but energy demand exposes decarbonisation limitsAMPIN Commissions 45 MWp Solar Project In Odisha, Expands C&I Renewable PortfolioIndonesia Launches Largest Rooftop Solar Project In Cikarang Industrial HubPhilippines Pushes For Domestic Solar PV Manufacturing To Boost Energy IndependenceAfrican Development Bank And The Government Of Gabon Conclude 10th Africa Energy Market Place To Advance Mission 300 Energy GoalsLantern LNG advances Texas project with Honeywell dealEU stays tough on biomethane as France targeted after Ireland ruling
Sat. May 2nd, 2026
Trending News: Trump ‘Not Happy’ With Iran, Touts Strait ‘100% Shut’US Drillers Add Oil and Gas Rigs for Second Week in a Row, Says Baker HughesOwners of WildFire Energy Explore $4 Billion-Plus Sale of US Shale Operator, Sources SayUS LNG Exports to Asia Surged in April as Middle East Conflict Curtailed SupplySyria Still Leans on Russia for Oil SupplyTrump’s Trade Czar Says U.S. Looking to Work with Canada on Energy and Critical MineralsExxon Net Income Falls, Output Hit by Iran WarChevron’s Upstream Strength Lifts First-Quarter Earnings Past EstimateIran Threatens Painful Response if US Renews AttacksWhile Asia and Europe Scramble for Natural Gas, the US Glut Has Nowhere to GoU.S. Oil and Gas Firms Sign Deals to Operate in VenezuelaIran Warns of $140 Oil as Trump Holds Hormuz BlockadePakistan Imports First LNG Cargo in Weeks in Relief for Energy CrisisExxon Beats Q1 Earnings on Oil Price Surge Despite 6% Production DropINEOS and Sandpiper to develop $1.7bn blue methanol plant in Texas CityLinde juggles resilient and cyclical end market triosLinde backlog nears $10bn as project rollout continuesLinde backlog nears $10bn as project rollout continuesAir Products’ $9bn backlog shored up by AI-driven electronics boomAir Products’ $9bn backlog shored up by AI-driven electronics boomLinde cites construction challenges as Beaumont blue ammonia timeline slipsLinde expects further helium price risesLinde expects further helium price risesCavendish Hydrogen awarded €1.4m Northwest Europe refuelling station dealUS Naval Blockade Squeezes Iran’s Oil Exports, Forces Crude Onto Floating StorageTC Energy Approves $1.5 billion Columbia Gas Expansion After Profit Tops EstimatesSteady Oil Prices Set for Weekly Gain as Iran War Rumbles OnUS Has More Natural Gas Than It Can Use as War Chokes Global SupplyWhy $100 Oil is No Longer Spooking Equity MarketsCalifornians Now Paying 6 Bucks a Gallon for Kicks on Route 66Trump Reacts to UAE OPEC WithdrawalVideo | A centralised or decentralised future for hydrogen?Toyota fuel cells secure North America certification as it eyes stationary usesWoodside Struggles to Secure Buyers for U.S. LNG as Pricing BackfiresOil Prices Set for Another Weekly Gain as Supply Shock DeepensTotalEnergies Extends Fuel Price Cap in France as Middle East Crisis Drags OnLinde reports strong quarter despite global pressuresCrisis removes half a million tonnes of nitrogen fertiliserNew Mexico helium plant marketed amid tight supplyNew Mexico helium plant marketed amid tight marketBiogas-to-hydrogen ‘could halve costs’ versus electrolysis, webinar hearsNet Crude Supply Loss is 9 Million Bpd Despite Surge in Atlantic Exports: VortexRepsol Holds Off on U.S. Listing for Upstream Unit Despite 2026 PlansIndian Oil Raises LPG and Jet Fuel PricesUkraine Hits Major Russian Refinery, Pumping StationSoCalGas blocked from passing hydrogen pipeline costs to residential customersIndustry tech winners will be those who integrate‘Bubble-free’ electrolyser start-up plans Rotterdam pilot after €2.7m raiseWhy downsizing won’t solve Air Products’ $9bn Louisiana blue hydrogen problemTrump Eyes More U.S. Oil Output as Iran War Squeezes SupplyWoodside Struggles to Sell LNG Volumes at Louisiana LNG Plant, Sources SayTrump Signs Order Authorizing Bridger’s Canada-Wyoming Crude PipelineTangerine peel’s radiation health benefits researchedFuel loading begins at Changjiang 3Fusion industry leaders call for EU long-term planSecond Indian fuel cycle complex gets operating licencePJM’s First Reformed Queue Cycle Draws 811 Projects, 220 GWJP Morgan: UAE Could Attract More U.S. Investment After OPEC ExitStrait of Hormuz Fears Send California Gas Past $6 a GallonENEOS Takes 10% Stake in Malaysia LNG Tiga in New Deal With PetronasValero Energy Beats Profit Estimates on Strong Refining PerformanceIran Threatens Painful Response if US Resumes Attacks, Oil Prices SeesawConocoPhillips Cuts Annual Production Targets as Iran War Disrupts OperationsUS Has More Natural Gas Than It Can Use as War Chokes Global SupplyWhy $100 Oil is No Longer Spooking Equity Markets: Stephen JenUS Naval Blockade Squeezes Iran’s Oil Exports, Forces Crude Onto Floating StorageRussia Dismisses Price War Fears Following UAE Departure From OPEC+Crisis-Hit Southeast Asia Looks to Sign Petroleum Security PactTankers Move from Fuel to Crude Trade as War Upends FlowsENEOS acquires 10% equity stake in Petrona’s MLNG Tiga terminalEU backs ‘one-pot’ e-methanol push to cut costs and input energyAir Products confirms huge scale of expanding Samsung projectAir Products taps stored helium at a cost as Qatar outage hits supplyAir Products navigates eight key end markets through crisisEU opens €600m call for cross-border energy project proposalsProspect of Prolonged Iran War Disruption Drives Oil Forecasts HigherAir Products expects Asia helium supply to more than double amid electronics ‘super cycle’Air Products expects Asia helium supply to more than double amid electronics ‘super cycle’Air Products pushes NEOM green ammonia talks with Yara as war lifts grey pricesVideo | How many Chinese electrolyser OEMs will survive?The Iran War Has Already Destroyed 1.6 Million Bpd in Oil DemandWall Street Giants Circle Shell’s $15 Billion LNG Canada StakeCNPC Pledges to Ensure China’s Oil and Gas Supply Amid Iran CrisisTop Stories Of The Day: India Tops G20 Climate Goals; India’s First Inter-Track Metro Solar Project; POWERGRID Gets ₹4,000 Cr Loan and More…Air Products reports 9% sales growth in Q2 financialsAir Products reports 9% sales growth in Q2 financialsAir Products reports 9% sales growth in Q2Airengy Expands In Israel With 51% Stake In Green-Go To Boost Solar Project CapabilitiesSolaris wins German tender for 19 hydrogen fuel cell busesCould This be the Beginning of the End for OPEC?Blue Star nears full operations at Colorado helium plantBlue Star advances Colorado helium project toward full operationsWestern Australia Commits AU$1.4 billion To Upgrade Grid For Clean Energy TransitionMesser trims emissions but energy demand exposes decarbonisation limitsAMPIN Commissions 45 MWp Solar Project In Odisha, Expands C&I Renewable PortfolioIndonesia Launches Largest Rooftop Solar Project In Cikarang Industrial HubPhilippines Pushes For Domestic Solar PV Manufacturing To Boost Energy IndependenceAfrican Development Bank And The Government Of Gabon Conclude 10th Africa Energy Market Place To Advance Mission 300 Energy GoalsLantern LNG advances Texas project with Honeywell dealEU stays tough on biomethane as France targeted after Ireland ruling
Sat. May 2nd, 2026

US Crude Oil and Refined Product Inventory Update – William Lacey

I think I finally understand what Liberation Day stood for. The liberation of all of my savings from me. Hooray! I didn’t want it anyway…

us crude oil and refined product inventory update william lacey 1

Now, on to our regularly scheduled programming.

Yesterday the API reported that crude oil and refined products both saw a net draw on stock levels, showing a total draw of 2.7 million barrels. Today, the EIA reported their survey results and showed a similar net outcome to the API data, albeit from a very different direction with oil showing a big build (bad) and refined products showing a big draw (good). Both these results (API and EIA) were in aggregate bullish versus consensus.

us crude oil and refined product inventory update william lacey 2

us crude oil and refined product inventory update william lacey 3

The fact of the matter is that none of this matters with Trump and his Tariffpalooza, where you have the United States (#1 economy) and China (#2 economy) continuing to trade incremental tariffs back and forth, with the rest of the world looking on in anxious trepidation.

us crude oil and refined product inventory update william lacey 4

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