Portfolio investors have amassed one of the largest bullish positions in U.S. gasoline futures and options since before the coronavirus pandemic, anticipating that prices will continue climbing over the next few months.
Motiva's Port Arthur Manufacturing Complex in Port Arthur, Texas, the largest refinery in North America, with a capacity of 630,000 barrels of crude oil per day, shuttered several processing units on Wednesday following a power failure due to severe
• https://www.zerohedge.com, By Tsvetana Paraskova
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 conf
Argentina's oil-producing provinces have threatened to cut off oil supply to the rest of the country if the government of Javier Milei goes through with plans to withhold billions in federal tax revenues.
• https://internationalman.com, by Chris MacIntosh
According to a recent article, A $4 billion Panasonic electric vehicle battery factory in De Soto, Kansas, will help satisfy the Biden administration's efforts to get everyone into an EV. It also will help extend the life of a coal-fired power plan
U.S. manufacturers are recovering from an extended slump in activity and their energy consumption is about to start rising, with the risk of tightening an already tight diesel market.
Oil traders were stunned this morning, when - in a huge reversal to its prior plans - the Saudi state ordered Aramco to stop work on expanding its maximum sustainable capacity to 13 million barrels daily...