The Latest

Crude Oil

Oil Heads for Third Week of Gains as Output Stumbles

Oil prices steadied on Sept. 24 near a two-month high above $77 a barrel and were headed for a third straight week of gains, supported by global output disruptions and inventory draws.

September 24, 2021

Crude Oil

US Oil Refiners Pick Iraqi, Canadian Crudes to Replace Storm Losses

The loss of up to 250,000 bbl/d after Hurricane Ida has some U.S. refiners seeking replacements for fourth-quarter delivery, especially Iraq’s Basra crude, traders said. Others received supplies of sour crude from U.S. storehouses.

September 24, 2021

Public Capital

Kinder Morgan to Transport Southwestern Energy’s Responsibly Sourced Natural Gas

Beginning Nov. 1, Southwestern will produce and Tennessee Gas Pipeline, a subsidiary of Kinder Morgan, will transport the responsibly sourced natural gas to Northeast markets.

September 23, 2021

Markets

Britain Tells Consumers ‘Don’t Panic Buy’ as BP Shuts Gas Stations

In a further sign of worsening supply chain dislocation, BP temporarily closed some of its 1,200 U.K. petrol stations due to a lack of both unleaded and diesel grades, which it blamed on driver shortages.

September 23, 2021

Public Capital

Tellurian Adds Energy Industry Veteran James Bennett to Board

James D. Bennett brings over 30 years of experience from the E&P and investment space, which Tellurian Executive Chairman Charif Souki described as invaluable to the company’s goal of enhancing its Haynesville upstream position

September 23, 2021

Crude Oil

Oil Prices Rise on Tight Supply, Renewed Risk Appetite

Oil prices jumped 2.5% on Sept. 23 after data from the U.S. Energy Information Administration showed U.S. crude stocks in the week to Sept. 17 fell by 3.5 million barrels to 414 million—the lowest total since October 2018.

September 23, 2021

Crude Oil

US Crude Oil Stockpiles Fall to Lowest in Three Years

Crude oil inventories in the U.S. now sit at their lowest levels since October 2018, and that tightness, along with strong demand, has helped drive oil prices higher.

September 22, 2021

Markets

OPEC Chief Says Renewable Energy Shift Increasing Gas Prices

Gas prices in Europe have surged as much as 280% so far this year.

September 22, 2021

Liquefied Natural Gas (LNG)

Soaring Gas Prices Ripple through Heavy Industry, Supply Chains

Global record high natural gas prices are pushing some energy-intensive companies to curtail production in a trend that is adding to disruptions to global supply chains in some sectors such as food and could result in higher costs being passed on to their customers.

September 22, 2021

Crude Oil

US Crude Stocks at Oklahoma’s Cushing Hub Down by over 40%

Crude oil inventories at Cushing—home to a chunk of U.S. commercial tank and underground crude oil working storage capacity—are now 26% lower than normal, based on the EIA’s previous five-year average.

September 21, 2021