Energy News Results

  • Oil prices jump over $2/bbl after drawdown in U.S. stocks

    Oil prices rose over $2 a barrel on Wednesday after government data showed a larger-than-expected drawdown in U.S. crude inventories, and on expectations demand will rise as vaccination roll-outs widen.

  • Colonial restarts main gasoline line; distillate remains shut

    Colonial Pipeline, the United States' largest fuel pipeline, on Tuesday said it had resumed operations on its main gasoline Line 1, while distillate Line 2 remained down due to a power outage in the Houston area after Hurricane Nicholas made landfall. Meanwhile, Colonial's multiproduct Lines 3 and 4 continued to operate normally, the company said in a notice to shippers.

  • Colonial shuts main gasoline, distillate lines due to storm Nicholas

    Colonial Pipeline, the nation's largest fuel line, said it shut its main gasoline and distillate lines early on Tuesday morning due to a power outage in the Houston after storm Nicholas made landfall. But pipelines 3 and 4 continue to operate normally, the company said in a notice to shippers.

  • Oil settles unchanged as latest storm spares U.S. energy sector

    - Oil prices ended largely unchanged on Tuesday as tropical storm Nicholas brought heavy rain and power outages in Texas but caused less damage to U.S. energy infrastructure than Hurricane Ida caused earlier this month.

  • U.S. allows eight companies to purchase SPR crude oil -statement

    U.S. Department of Energy has awarded contracts to eight companies for crude oil from a Strategic Petroleum Reserve sale of up to 20 million barrels announced last month, the department said.

  • Oil rises to six-week high as U.S. supply concerns dominate

    Oil prices rose to a six-week high on Monday as U.S. output remains slow to return two weeks after Hurricane Ida slammed into the Gulf Coast and worries another storm could affect output in Texas this week. Those price gains came even though the Organization of the Petroleum Exporting Countries trimmed its world oil demand forecast for the last quarter of 2021 due to the Delta coronavirus variant.

  • Oil climbs to one-week high on U.S. supply concerns

    * Impact of Hurricane Ida crimps U.S. supply. * OPEC, IEA demand outlook in focus. By Naveen Thukral. Oil prices climbed on Monday to a one-week high in a second straight session of gains as concerns over U.S. supplies following damage from Hurricane Ida supported the market, along with expectations for higher demand.

  • BRIEF-Oil Product Deliveries To The Spanish Market From Fuel Distributor Exolum Terminals Up 15.3% In August YoY

    OIL LOGISTICS COMPANY EXOLUM: * OIL PRODUCT DELIVERIES TO THE SPANISH MARKET FROM FUEL DISTRIBUTOR EXOLUM TERMINALS INCREASED BY 15.3% IN AUGUST YEAR ON YEAR. * OIL PRODUCT DELIVERIES TO THE SPANISH MARKET FROM FUEL DISTRIBUTOR EXOLUM TERMINALS IN AUGUST REMAIN 9.4% BELOW AUGUST 2019 LEVELS Source text: https://bit.ly/3A49yQl.

  • Oil rallies to $73 on tight U.S. supplies, Biden-Xi call

    * Biden-Xi call boosts equities, helps sentiment. * About 3/4 of Gulf offshore oil output halted. * U.S. adds 7 oil rigs in latest week -Baker Hughes. By Jessica Resnick-Ault. Oil rose to briefly top $73 a barrel on Friday, supported by growing signs of supply tightness in the United States as a result of Hurricane Ida and as U.S.-China trade hopes gave riskier assets a boost.

  • Oil rallies to $73 on tight U.S. supplies, Biden-Xi call

    Oil rose to briefly top $73 a barrel on Friday, supported by growing signs of supply tightness in the United States as a result of Hurricane Ida and as U.S.-China trade hopes gave riskier assets a boost. About three quarters of the U.S. Gulf's offshore oil production, or about 1.4 million barrels per day, has remained halted since late August.

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