Natural Gas Inventories as of July 4, 2025 The EIA has released its natural gas inventory report, showing a net increase of 53 Bcf as of July 4, 2025. Working gas in storage was 3,006 Bcf as of Friday, July 4, 2025, according to EIA estimates. This represents a net increase of 53 Bcf from the previous week. Stocks were
(Investing) – LONDON -Oil prices fell by around 2% on Thursday, as investors weighed the potential impact of U.S. President Donald Trump’s tariffs on global economic growth. Brent crude futures were down $1.42, or 2.02%, at $68.77 a barrel by 1327 GMT. U.S. West Texas Intermediate crude fell $1.61, or 2.35%, to $66.77 a barrel. On Wednesday, Trump threatened Brazil, Latin America’s
(World Oil)– The U.S. sees domestic crude output growth slowing more than expected this year as choppy oil prices limit drilling activity. U.S. crude output is now expected to grow by 160,000 bpd this year to 13.37 million bpd and remain flat in 2026, according to the Energy Information Administration’s Short-Term Energy Outlook released Tuesday. The production forecast for this
(BOE Report)– Oil markets are absorbing OPEC+ production increases without building inventories, which means they are thirsty for more oil, United Arab Emirates’ Energy Minister Suhail al-Mazrouei said on Wednesday. OPEC+, which pumps about half of the world’s oil, has been curtailing production for several years to support the market. But it has reversed course this year to regain
(Oil Price)– Crude oil prices took a dip today after hitting a two-week high earlier, as traders awaited updates on President Trump’s tariff plans, following the latest delay in trade deals with some key partners such as Japan and South Korea. Brent crude was trading at $70.07 per barrel at the time of writing, with West Texas Intermediate changing hands for $68.26 per
(World Oil)– bp Plc and Shell Plc signed agreements with Libya’s National Oil Corp (NOC) to study new opportunities, joining international majors accelerating their return to the oil-rich African nation. bp, which has pivoted away from its failed low-carbon strategy to focus more on fossil fuels, signed a memorandum of understanding to study reviving two huge oil fields in Libya,
(World Oil)– ExxonMobil expects lower oil and gas prices to reduce the company’s earnings by about $1.5 billion as a volatile quarter for commodity prices weighs on second-quarter profits. Oil prices pulled down earnings by about $1 billion while gas contributed another $500 million hit when compared to the first quarter, the Spring, Texas-based company said in a statement Monday.
(Oil Price)– Saudi Arabia’s crude exports soared by 412,000 barrels per day (bpd) in April from March, the latest data by the Joint Organizations Data Initiative (JODI) showed on Tuesday. Saudi Arabia, the world’s top crude exporter, saw its exports in April at an average of 6.17 million bpd, according to the JODI data which compiles self-reported figures from the individual
(BOE Report)– The U.S. Interior Department on Monday proposed rule changes to allow energy companies to more easily combine oil and gas output from multiple leases using the same well pad, which could save the industry as much as $1.8 billion per year, it said. The proposed rule change, which would mostly affect onshore oil and gas drilling in the
(World Oil)– Valaris Limited has been awarded a 940-day contract extension for drillship VALARIS DS-16, starting in June 2026, and a new 914-day contract for drillship VALARIS DS-18, the company announced Monday. The contract is expected to start in mid-fourth quarter 2026, with Anadarko Petroleum Corporation, a wholly-owned subsidiary of Occidental, in the Gulf of America/Gulf of Mexico. The combined
(BOE Report) – Oil prices retreated on Tuesday after rising almost 2% in the previous session as investors assessed new developments on U.S. tariffs and a higher-than-expected OPEC+ output hike for August. Brent crude futures dipped 22 cents, or 0.3%, at $69.36 a barrel by 0330 GMT. U.S. West Texas Intermediate crude fell 27 cents, or 0.4%, at $67.66 a
(Investing) – U.S. power outages could increase by 100 times in five years if suppliers fail to add capacity during peak demand, the Department of Energy said on Monday. Blackouts could increase by 100 times in 2030 if the U.S. continues to shutter reliable power sources, DOE noted in a report on grid reliability and security. It cited green policies of
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