US Coast Guard Says Calcasieu, Louisiana Oil Spill Contained
On Nov. 28, an approximated 3,500 gallons of lubricant oil from a Martin Energy Services secondary containment facility spilled near Calcasieu Point Landing, La.
US Natural Gas Futures Up 8% on Colder Weather Forecasts
Also supporting natural gas futures in the U.S. were worries about a possible rail strike that could disrupt coal shipments to utilities this winter, forcing power generators to burn more gas to produce electricity.
US Crude Oil Inventories Fall as Fuel Stocks Build
The decline in U.S. crude oil inventories last week was tempered by another release of barrels from the country’s strategic petroleum reserve (SPR).
US at Risk of Tight Electric Supplies This Winter: NERC
The North American Electric Reliability Corp. (NERC) said that the lack of interconnections with other regions limited Texas’ ability to import power from other regions if problems arise.
Equitrans Expects to Stop Pennsylvania Gas Leak in Next Couple of Days
Equitrans has estimated the size of the leak, which started on Nov. 6 at the facility in Cambria County’s Jackson Township, at about 100 MMcf/d, according to the Pennsylvania Department of Environmental Protection (DEP).
White House Asks Congress for $500 Million to Modernize SPR
If approved by Congress, the request, issued by the White House on Nov. 14, provides the Department of Energy (DOE) with funding to improve the four SPR sites along the Texas and Louisiana coasts.
US Crude Stocks Drop Sharply as Refiners Pick Up Activity, EIA Says
“The drawdown in crude supplies is substantial. The crude supply is still very tight, heating oil supply is still below average,” said Phil Flynn, senior analyst at Price Futures Group in Chicago.
Winter Power Resources May Be Tight in Parts of North America, NERC Says
Federal regulators also warned that the New England region faced its highest energy costs in more than 25 years this winter due to tight heating oil supplies and fierce competition for LNG.
US Sells Last Batch of Emergency Reserve Oil from Historic SPR Release
The U.S. president announced a plan last month to begin refilling the stockpile when U.S. crude is around $70/bbl, a level he said would allow drillers to profit while being a good deal for taxpayers. The U.S. benchmark was around $89 on Nov. 3.
US Natgas Falls 5% on Big Storage Build, Lower Demand Forecast
In what has already been an extremely volatile week, front-month gas futures fell 29.4 cents, or 4.7%, to $5.974/MMBtu at 10:35 a.m. EDT (1435 GMT). That follows a rise of 12% on Oct. 31, a drop of 10% on Nov. 1 and a rise of 10% on Nov. 2.