Casper Star Tribune – One bill up for debate during this year’s legislative session in Wyoming could be a game-changer for the...
Houston Chronicle – Oil Bust or Oil Boom? Last month, two days before the latest government prediction that U.S. shale production would...
CNBC – Oil prices climbed more than 2% on Wednesday as China reported its lowest daily number of new coronavirus cases since...
Forbes – This is the third of a multi-part series on the state of the main sources of energy in the US...
Houston Chronicle – The oil and gas industry faces an existential crisis caused by Wall Street dissatisfaction and a belief by most...
Bloomberg – Global commodity trade plunged deeper into chaos as Chinese companies started walking away from purchase contracts because of the spread...
Offshore Technology – Oilfield services company Baker Hughes and artificial intelligence (AI) software provider C3.ai have launched an AI-based application that allows...
Pittsburgh Business Times – Chevron Corp. Chairman and CEO Michael Wirth said the oil and gas giant entered the Marcellus Shale at a...
Bloomberg – The world’s three biggest oil-market forecasters are split on what’s going to happen with supply and demand this year —...
Bloomberg – Chinese oil demand has dropped by about three million barrels a day, or 20% of total consumption, as the coronavirus squeezes the...
President Biden landed in Israel as the world waited for evidence of whether a Hamas-linked group or Israel caused a devastating explosion yesterday at a hospital in Gaza City.
The explosion, evidently from a missile, killed hundreds of people and injured hundreds more. (This video, verified by Times journalists, shows the moment the blast destroyed the hospital.)
After Biden landed, he seemed to endorse Israel’s denial of responsibility. “Based on what I’ve seen, it appears as though it was done by the other team, not you,” he said. “But there’s a lot of people out there not sure.”
The U.S. crude inventory balance fell by 4.383M barrels during the week ended Oct. 13, according to the API. That contrasted with a 12.94M jump in the prior week to Oct. 6 led largely by a sharp decline in exports.
Aside from that balance, the API also noted a 1.005M barrel decline at the Cushing, Oklahoma delivery point for U.S. crude, versus the previous week’s draw of 0.547M. Cushing storage levels have dropped drastically this year, prompting concerns they might reach such critical lows to complicate operations at the storage hub.
On the fuel side, the petroleum trade group reported a gasoline inventory slide of 1.578M barrels and distillate stock drop of 0.612M barrels. In the prior week, gasoline saw a 3.645-M barrel build while distillates experienced a 3.535M drop.
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