Germany is rationing hot water and turning off the lights to reduce natural gas consumption
Last year, Germany relied on Russia for ...
Last year, Germany relied on Russia for 55% of its natural gas imports. Germany has since been able to reduce that number to 35%, but with Russia seemingly prepared to further cut gas shipments to Europe, German officials are having to make some difficult choices.
This week, a city official in Hamburg—Germany’s second-largest city—warned that “warm water could only be made available at certain times of the day in an emergency,” forecasting the possibility of a severe natural gas shortage. And on Friday, residents in the eastern German state of Saxony were told by their housing association that they could take hot showers only between 4 a.m. and 8 a.m., 11 a.m. and 1 p.m., and 5 p.m. and 9 p.m. each day, the Financial Times reported.
It isn’t just hot water that’s being rationed. In addition to shorter shower times, officials are asking city councils nationwide to turn off traffic lights at night, stop illuminating historic buildings, and go easy on using air conditioners in a bid to conserve electricity, according to the FT.
U.S. drillers add oil and gas rigs for fourth week in five
U.S. energy firms this week added oil and natural gas rigs for the fourth time in five weeks amid high...
U.S. energy firms this week added oil and natural gas rigs for the fourth time in five weeks amid high crude prices although the growth in rigs has been small and crude production has been slow to recover to pre-pandemic levels.
The total oil and gas rig count, an early indicator of future output, rose two to 752 in the week to July 8. U.S. oil rigs rose two to 597 this week, their highest since March 2020, while gas rigs were unchanged at 153.
Benchmark U.S. crude oil for August delivery rose $2.06 to $104.79 a barrel Friday. Brent crude for September delivery rose $2.37 to $107.02 a barrel.
Wholesale gasoline for August delivery rose 3 cents to $3.45 a gallon. August heating oil was unchanged at $3.67 a gallon. August natural gas fell 27 cents to $6.03 per 1,000 cubic feet.
Gasoline Prices See The Largest Drop In Nearly 15 Years
While gasoline prices are still $1.50 higher per gallon than they were this time last year, they fell...
While gasoline prices are still $1.50 higher per gallon than they were this time last year, they fell sharply overnight in what was the largest one-day drop in nearly 15 years, according to AAA data.
The current price for a gallon of gasoline in the United States is averaging $4.721 on Friday, down from $4.752 per gallon on Thursday—a 3.1-cent drop. The weekly change is even more significant at 12.1 cents.
According to Gas Buddy’s Patrick De Haan, more than 5,800 gas stations across the country are offering gasoline at $3.99 per gallon or less.
The Energy Information Administration on Thursday reported that U.S. crude inventories climbed by 8.2 million barrels for the week ended July 1. On average, analysts expected a fall of 1.2 million barrels, according to a poll conducted by S&P Global Commodity Insights. Data were delayed by a day due to Monday's Independence Day holiday. The American Petroleum Institute on Wednesday reported a 3.8 million-barrel increase, according to sources. The EIA report also showed supply declines of 2.5 million barrels for gasoline and 1.3 million barrels for distillates. The analyst survey called for an inventory decline of 500,000 barrels for gasoline and an increase of 1 million barrels for distillates. Crude stocks at the Cushing, Okla. Nymex delivery hub were little changed at 21.3 million barrels for the week, the EIA said.
