US oil inventories down more than expected in EIA data
US crude oil stockpiles shrank by 3.4 million barrels last week, compared with analyst forecasts for...
US crude oil stockpiles shrank by 3.4 million barrels last week, compared with analyst forecasts for a 1.7-million-barrel drop, the Energy Information Administration reported. However, gasoline and distillate supplies jumped by 800,000 barrels and 1.4 million barrels, respectively.
FBI warns of Russian hacker threat to energy firms
The FBI is urging energy companies to stay on guard against Triton malware, which was involved in a 2017...
The FBI is urging energy companies to stay on guard against Triton malware, which was involved in a 2017 cyberattack in the Middle East that is suspected to have been launched by a Russian-government-backed research institution. In addition, the FBI's Bryan Vorndran told lawmakers that Russia has stepped up its "scanning" of US energy networks in an effort to find vulnerabilities to exploit.
The Biden administration is considering a plan to tap as much as 180 million barrels of oil from the...
The Biden administration is considering a plan to tap as much as 180 million barrels of oil from the Strategic Petroleum Reserve over several months, which would be the largest release in the reserve's history, to counter the rise in energy prices following Russia's invasion of Ukraine, according to sources familiar with the matter. Reports of the plan sent Brent and West Texas Intermediate crude prices down 3.6% and 4.9%, respectively, in early trading today.
From MarketWatch: U.S. stocks end lower after dampened hopes for breakthrough in Russia-Ukraine peace talks
All three major U.S. stock benchmarks closed lower Wednesday, with the Dow Jones Industrial...
All three major U.S. stock benchmarks closed lower Wednesday, with the Dow Jones Industrial Average and S&P 500 snapping four-day winning streaks after Russia indicated no breakthrough in peace talks with Ukraine and oil prices climbed. The Dow DJIA, -0.19% fell 0.2%, the S&P 500 SPX, -0.63% slid 0.6% and the Nasdaq Composite COMP, -1.21% dropped 1.2%, according to preliminary FactSet data. Russian forces also shelled areas around Ukrainian capital Kyiv and the northern city of Chernihiv despite Russia's announcement Tuesday that it would significantly scale back military operations near those two areas, according to Associated Press reports. In oil futures, West Texas Intermediate crude for May delivery CLK22, +2.91% rose 3.4% to settle at $107.82 a barrel. Investors also weighed a recession warning sent by the bond market Tuesday, when part of the yield curve briefly inverted.
