Crude gains on smaller-than-expected inventory build

Crude oil prices rose Thursday after the U.S. government reported a much smaller-than-anticipated rise in crude inventories, Kallanish Energy reports. Gains, however, were held down by continuing worries about the spread of the Coronavirus outside China. The Energy Information Administration reported yesterday crude inventories rose only 414,000 barrels for the week ended Feb. 14, compared

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US crude inventories jump in new EIA survey

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) for the week ended Feb. 7, increased by 7.46 million barrels (Mmbbl) from the previous week, the Energy Information Administration reported Wednesday. At 442.47 Mmbbl, U.S. crude oil inventories are roughly 2% below the five-year average for early February, Kallanish Energy reports. U.S.

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U.S. Petroleum Exports Exceed Imports for the First Time Ever

For the first time in history, the U.S exported more petroleum products to overseas markets than it imported in October, according to the Energy Information Administration’s recently-released “Short-Term Energy Outlook” It represents an historic shift as the United States solidifies its role as an oil and natural gas powerhouse that’s able to provide for its

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US places near-record volumes of natgas in storage

The amount of stored working natural gas at Oct. 31, was 37 billion cubic feet higher than the previous five-year end-of-October average, according to Energy Information Administration data. Natural gas in storage in 2019 went from a relatively low volume of 1.16 trillion cubic feet at April 1, to 3.72 Tcf at Oct. 31, due

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Volume of working gas placed in storage shrinks

The volume of working gas injected into underground storage slowed to the smallest amount in seven months in the latest weekly survey by the Energy Information Administration, Kallanish Energy calculates. For the week ended Nov. 1, just 34 billion cubic feet of working gas was placed into storage — the smallest amount since 25 Bcf

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Brent to average $60/Bbl in 2020: STEO

Brent crude oil spot prices will average $59 per barrel in the fourth quarter of 2019, then fall to $57/Bbl by the second quarter of 2020, $5/Bbl lower than forecast one month ago, the Energy Information Administration reported Tuesday in its October Short-Term Energy Outlook (STEO). Despite the recent increase in supply disruptions, EIA expects

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US crude oil exports continue growing in first half of 2019

U.S. exports of crude oil rose to average 2.9 million barrels per day (Mmbpd) in the first half of 2019, an increase of 966,000 b/d from the first half of 2018, the Energy Information Administration reports. U.S. crude oil exports also set a record-high monthly average in June, at 3.2 Mmbpd, Kallanish Energy learns. Despite

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Natural Gas Supply in the United States Grows by 20%

 ... … … The U.S. natural gas supply has grown by about 20% in just two years, according to the latest analysis of reserves, enough to supply us for 100+ years. The Potential Gas Committee has announced the amount of producible natural gas in the United States, our natural gas supply, has increased by about

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Capitalism Is What Really Worries Global Warmists and Fractivists

Robert P. MurphySenior Economist, Institute for Energy ResearchPrincipal, Consulting by RPM … …  Capitalism, and revulsion to it, is at the heart of the opposition to oil and gas development by today’s global warmists and fractivists. They’re wrong. Presumably bolstered by the fiery claims of Greta Thunberg and the general theme of Climate Week, people

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US crude oil inventories drop more than expected

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 6.91 million barrels (Mmbbl) during the week ended Sept. 6, from the previous week, the Energy Information Administration reported. The American Petroleum Institute had U.S. crude inventories down 7.2 Mmbbl in the week ended Sept. 6, to 421.9 Mmbbl, compared with analysts’

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Power sector still the U.S.’s largest electricity consumer

Energy consumption in the U.S. reached a record high of more than 101 quadrillion British thermal units (quads) in 2018, surpassing the previous high recorded in 2007, by less than 0.3%, the Energy Information Administration reports. For nearly 70 years, the electric power sector, which both consumes and produces energy, has been responsible for some of the

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U.S. Breaks Records to Become Global Leader in Oil and Natural Gas Production

The U.S. energy revolution that’s taken place since 2000 catapulted the country to become the global leader in petroleum, including oil, and natural gas production in 2018, according to a recent report from the Energy Information Administration: “Last year’s increase in the United States was one of the largest absolute petroleum and natural gas production

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Annual US refinery runs projected to fall for 1st time in decade

U.S. gross inputs to refineries, aka, refinery runs, have increased each year since 2009, most recently reaching a record high of 17.3 million barrels per day (Mmbpd) in 2018, Kallanish Energy reports. However, based on its monthly refinery run data through May and forecast for the remainder of 2019, the U.S. Energy Information Administration expects

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Working gas injected falls under 100 Bcf 2nd straight week

The volume of working natural gas injected in the most recent weekly report by the Energy Information Administration was under 100 billion cubic feet for the second straight week, Kallanish Energy reports. For the week ended June 28, 89 Bcf of working gas was injected underground, bringing total working gas stored to 2.39 trillion cubic

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Crude oil settles down as US Fed holds rates steady

Crude oil prices were little changed Wednesday after the U.S. Federal Reserve said the central bank will hold interest rates steady, Kallanish Energy reports. Brent crude futures were down 29 cents, or 0.47%, to $61.85 a barrel. U.S. West Texas Intermediate crude settled down 14 cents, or 0.3%, to $53.76/Bbl. Government data showed U.S. crude inventories fell

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