US Emergency Crude Stockpile Falls to Lowest in 37 Years
The U.S. Strategic Petroleum Reserve (SPR) held about 618 million barrels last September and its stocks have declined due to sales from congressional mandates and Biden’s price initiative.
US Crude Stockpiles Drop as Exports Surge to Record High: EIA
The decline in U.S. crude oil inventories was in large part the result of a surge in crude exports to a record 4.5 million bbl/d in the latest week.
DOE to Begin Replacing Sold SPR Barrels in Fall
The U.S. Department of Energy will soon propose a rule to help put oil back into the SPR, where levels have sunk to 475.5 million barrels, the lowest since June 1985
US Crude Stockpiles Dip, Gasoline Builds as Demand Slackens: EIA
“The demand destruction is only still two weeks but sufficient to say it’s there. That's the big takeaway,” analyst John Kilduff, said after U.S. gasoline inventories posted a larger-than-expected build on weakened demand.
US Crude Oil, Fuel Stockpiles Rise as Demand Slackens: EIA
“Today’s inventory stats and overall builds in crude and products are indicative of investor worries on the overall economy,” said Tony Headrick, energy markets analyst at CHS Hedging, following the EIA report.
Energy Policy Watch: State of Electricity Reliability in Texas
PUC Commissioner Jimmy Glotfelty joins the latest installment of Energy Policy Watch to discuss the ongoing efforts by the PUC on wholesale electric market design and strengthening the reliability of the Texas power grid.
US Natgas Jumps 10% as Heat Wave Forces Texas to Seek Power Conservation
The jump in gas prices, which was only the highest in the past few days, came despite an increase in U.S. output to record highs and forecasts for lower gas demand over the next two weeks than previously expected.
US Natgas Futures Jump 14% on Small Storage Build, Hot Weather
“Today’s strong [natural gas price] advance ... not only reflected some bullish spillover from the oil [market] but also a much smaller storage injection per the EIA than had generally been expected,” said analysts at Ritterbusch and Associates, a consultancy.
US Crude Oil Inventories Soar, Fuel Stocks Dip: EIA
“We know refiners are going to have to continue to run at a high rate to keep up with demand. And so the expectation is that the crude supplies are not going to build as dramatically next week,” said Phil Flynn, analyst at Price Futures Group.
Oil from US Reserves Head Overseas as Gasoline Prices Stay High
The flow is draining the U.S. Strategic Petroleum Reserve, which last month fell to the lowest since 1986.