Weekly Crude Oil Storage as of April 12, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.7 million barrels from the previous week. At 460.0 million barrels, U.S. crude oil inventories are 1% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
Weekly Crude Oil Storage as of April 5, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 5.8 million barrels from the previous week. At 457.3 million barrels, U.S. crude oil inventories are 2% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
World Oil (Bloomberg) – The Biden administration won’t move forward with its latest plans to buy oil for the Strategic Petroleum Reserve amid rising prices. The Energy Department said it was “keeping the taxpayer’s interest at the forefront” in its decision not to purchase as many as 3 MMbbl of oil for a Strategic Petroleum Reserve site in Louisiana. The
Weekly Crude Oil Storage as of March 29, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.2 million barrels from the previous week. At 451.4 million barrels, U.S. crude oil inventories are 2% below the five year average for this time of year, according to the EIA crude oil and petroleum weekly storage
Weekly Crude Oil Storage as of March 22, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 3.2 million barrels from the previous week. At 448.2 million barrels, U.S. crude oil inventories are 2% below the five year average for this time of year, according to the EIA crude oil and petroleum weekly storage
World Oil (WO) – During a discussion titled, “Energy security in a volatile world: The importance of markets” at CERAWeek by S&P Global in Houston, Texas, Hess Corp. CEO and namesake John Hess made an impassioned call to refill the U.S. Strategic Petroleum Reserve. Sitting down with S&P Global Sr. VP of Geopolitical and International Affairs Carlos Pascual and Xcoal
Weekly Crude Oil Storage as of March 15, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2.0 million barrels from the previous week. At 445.0 million barrels, U.S. crude oil inventories are 3% below the five year average for this time of year, according to the EIA crude oil and petroleum weekly storage
Oil Price The Biden Administration aims to have crude in the Strategic Petroleum Reserve (SPR) back up to the levels before the massive sales of 180 million barrels in the past two years, U.S. Energy Secretary Jennifer Granholm said at the CERAWeek energy conference in Houston. The U.S. saw the stockpiles of crude oil in the SPR fall from 638 million barrels
World Oil (Bloomberg) – The boss of Exxon Mobil Corp. said Monday that it has no interest in buying Hess Corp. outright, despite taking Chevron Corp. to arbitration over its proposed $52 billion merger with the other company. “If we were interested in doing something with Hess, we wouldn’t have waited for Chevron” to sign its deal, Exxon Chief Executive
Nasdaq WASHINGTON – The U.S. is seeking to buy 3 million barrels of oil for the Strategic Petroleum Reserve (SPR), as one storage site winds down maintenance that had tempered the pace of replenishing the stockpile, the U.S. Energy Department said on Thursday. The oil, if purchased, is expected to be delivered in August and September, the department said The department
Oil Price The United States established its Strategic Petroleum Reserve (SPR) in the wake of the 1973–1974 oil embargo that disrupted oil imports and drove oil prices much higher. The SPR consists primarily of several large underground salt caverns for storage located along the Gulf Coast in Texas and Louisiana. These sites were chosen based on their geologic stability and
Weekly Crude Oil Storage as of March 8, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 1.5 million barrels from the previous week. At 447.0 million barrels, U.S. crude oil inventories are 3% below the five year average for this time of year, according to the EIA crude oil and petroleum weekly storage
