Benchmark U.S. crude oil for September delivery rose $2.03 to $75.23...
Benchmark U.S. crude oil for September delivery rose $2.03 to $75.23 per barrel Wednesday. Brent crude for October delivery rose $1.85 to $78.33 per barrel.
Wholesale gasoline for September delivery rose 3 cents to $2.36 a gallon. September heating oil rose 6 cents to $2.36 a gallon. September natural gas rose 10 cents to $2.11 per 1,000 cubic feet.
Underground stocks finished the last full week of July at 3,249 Bcf, or 16% above the five-year average, according to the U.S. Energy Information Administration (EIA). There are 14 more weekly government storage reports left for this injection season, including Thursday’s EIA report, for which NGI has modeled a 30 Bcf build.
“On the bull side, you can see that injections have been lean,” veteran gas analyst Thomas Saal said. Market jitters usually appear when inventory scenarios approach the 4,000 Bcf level. “At the rate we're going now, if we put 20 Bcf to 30 Bcf in weekly for the rest of the season, we're not going to have to worry about it.”
Trump making the most of Harris' anti-fracking past
The battle for Pennsylvania...
The battle for Pennsylvania is heating up as former President Donald Trump pounces on Vice President Kamala Harris's past anti-fracking stance to win over the state's voters. While Harris has distanced herself from her previous position to sway energy sector voters, Trump continues to cast doubt on her sincerity, warning, "Remember, a politician always goes back to what their original thought was."
Enbridge to grow Texas oil, gas pipeline capacities
Enbridge will move forward with a project to expand its Gray Oak crude...
Enbridge will move forward with a project to expand its Gray Oak crude oil pipeline in Texas by 120,000 barrels per day, with completion set for 2026, after receiving sufficient shipper interest during a recent open season. The company also plans to build the 2.5-Bcf/d Blackcomb natural gas pipeline from the Permian Basin to the US Gulf Coast and increase storage capacity at its Corpus Christi export facility by 2 million barrels.
