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☆ U.S. home heating bills expected to surge this winter - EIA
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +1 min

The Skyline of New York City is seen covered by clouds during the pass of a winter storm as it is seen from Weehawken, New Jersey, U.S., February 25, 2022. The average cost for a home with gas last winter was $724, far cheaper than other major sources of heat. U.S. gas prices at the Henry Hub benchmark were up about 75% so far this year as soaring global gas prices feed demand for U.S. exports due to supply disruptions and sanctions linked to Russia's Feb. 24 invasion of Ukraine. It is more expensive than gas at an estimated $1,359 per household this coming winter - but that represents a more modest 10% increase from last winter. Register now for FREE unlimited access to Reuters.com RegisterReporting by Scott DiSavino Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. home heating bills expected to surge this winter -EIA
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +2 min

Nearly half of U.S. households rely on natural gas for heat, with the average winter heating cost expected to rise to $931, up by 28% from last year, EIA said. The average cost to heat a home with gas last winter was $724, far cheaper than other major sources of heat. It is more expensive than gas at an estimated $1,359 per household this winter - but that is just a 10% increase from last winter. Homes that rely on heating oil are concentrated in the Northeast, while the biggest propane users are in the Midwest. That compares with last winter's residential costs of $13.02/mcf for gas, $2.30-3.33 per gallon for propane, 14.0 cents per kWh of electricity and $3.90 per gallon for heating oil.

☆ Oil prices extend decline on recession fears, China Covid curbs
▼ + stars: | 2022-10-12 | by ( ) www.cnbc.com time to read: +3 min

Oil storage tanks stand at the RN-Tuapsinsky refinery, operated by Rosneft Oil Co., at night in Tuapse, Russia. Oil prices fell for a third straight session on Wednesday as investors fretted about a hit to fuel demand from growing risks of a global recession and tightening Covid-19 curbs in China. Brent crude futures fell 51 cents, or 0.5%, to $93.78 a barrel by 0033 GMT. "Hotter-than-expected data may again tip investors' sentiment over the edge, which will intensify the current recession fears, pressing on oil prices further," Teng said. The oil market is also being pressured by tightening Covid-19 curbs in China, the world's second-largest oil consumer.

LONDON, Sept 29 (Reuters) - U.S. gas production will need to increase significantly to continue growing exports while ensuring fuel remains affordable for domestic power producers, households and industrial users. Register now for FREE unlimited access to Reuters.com RegisterDomestic consumption increased by 440 billion cubic feet, with electricity generators accounting for 382 billion. But exports surged by 1,408 billion cubic feet largely as a result of the commissioning of large new liquefaction terminals. Chartbook: U.S. gas production, consumption and exportsOUTPUT GROWTHTo maintain and grow exports U.S. gas producers will need to increase their output significantly in both the short and longer term. A significant share of natural gas output is associated gas produced as a by-product of crude oil production from crude oil wells.

☆ China's flood of new electric cars cost 20% more to insure than fuel-powered cars
▼ + stars: | 2022-09-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Vcg | Visual China Group | Getty ImagesBEIJING — While Chinese companies churn out new electric cars, local insurance firms think they're more expensive to cover. But repair costs are another reason for higher insurance prices, since "fewer places have the capability to service electric cars in the U.S.," Gardner said. watch nowIn the U.S., Insurify's analysis of the U.S. market found there was no difference in accident rates among electric cars, hybrids and combustion engine cars. But by official Chinese statistics, new energy vehicles in the country are more prone to fires than traditional fuel-powered ones. Electric cars are based on a platform system, and certifying safety can be faster, he said, noting potential use of virtual testing scenarios, or the ability to test individual parts.

☆ America Has Lost Its Oil Buffer
▼ + stars: | 2022-09-22 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

The U.S. has been drawing from the Strategic Petroleum Reserve at a rapid pace this year. Brace for impact: The U.S. is running out of a cushion reserved for oil shocks. The U.S. Energy Information Administration said Wednesday that the Strategic Petroleum Reserve declined by nearly 7 million barrels in the week ended Sept. 16, leaving it at roughly 427 million barrels—the lowest since 1984. For the first time since 1983, the SPR now holds less oil than commercial storage.

Model of Oil barrels are seen in front of rising stock graph in this illustration, July 24, 2022. REUTERS/Dado Ruvic/IllustrationSept 22 (Reuters) - Oil prices edged lower in early Asian trade on Thursday after the U.S. Federal Reserve raised interest rates significantly to curb inflation, with fears for the global economy casting a shadow over future fuel demand. Brent crude futures fell 16 cents, or 0.2%, to $89.67 per barrel by 0013 GMT, while U.S. West Texas Intermediate (WTI) crude dropped 15 cents to $82.79 per barrel. The Fed raised its target interest rate on Wednesday by 75 basis points for the third time, to a 3.00-3.25% range, and signalled more large increases to come. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Laura Sanicola; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

The coming end of SPR releases could shift market dynamics again in a year of high volatility following Russia's invasion of Ukraine in February. In March the White House announced it would release 180 million barrels from the U.S. strategic reserve to help quell high prices. Foreign buyers have turned to discounted Russian barrels, tempering Canadian crude exports. "When the SPR releases finish, these refiners will look to lean harder again on Canadian barrels or seaborne imports." That system ships the bulk of Canadian crude exports to the United States.

☆ Petrodollar rush may disappoint Western financiers
▼ + stars: | 2022-09-20 | by ( Liam Proud | ) www.reuters.com time to read: +6 min

Yet Western financiers hoping to share in the spoils of a 1970s-style petrodollar boom will be disappointed. In previous petrodollar booms, energy producers have recycled their windfalls into the Western financial system. These financial flows, known as petrodollar recycling, mean that the money Westerners spend on fuel eventually makes its way back into their economies through energy producers’ financial investments. Either way, it would mean that Westerners miss out on some of the spoils of the new petrodollar boom. A more muted petrodollar boom might not be such a bad thing after all.

Natural gas flares off at a production facility owned by Exxon near Carlsbad, New Mexico, U.S. February 11, 2019. REUTERS/Nick OxfordLONDON, Sept 16 (Reuters) - U.S. shale drillers are struggling to meet strong demand for gas from domestic generators as well as customers in Europe and Asia scrambling for replacement supplies following Russia’s invasion of Ukraine. U.S. generators are burning record volumes of gas because coal-fired units have been retired and drought has limited hydroelectric output in the western states. At the same time, exports are running at record rates as new LNG liquefaction terminals meet soaring demand from importers in Europe and Asia. Even so, hedge funds and other money managers have become progressively less bullish and even slightly bearish on gas prices since April.

Among the most important are quarterly and annual reports, which under U.S. securities law are known as Form 10-Q and Form 10-K, respectively. Annual reports, in particular, are the best places to begin homework into a company you may invest in. It's important to scrutinize a few years' worth of annual reports, too. The Semiconductor Industry Association's annual reports may be helpful to read as a supplement to your company-specific research. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

☆ 'Major milestone': US could become a sustained net oil exporter as soon as next year, IEA says
▼ + stars: | 2019-12-12 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Workers extracting oil from oil wells in the Permian Basin in Midland, Texas on May 1, 2018. The International Energy Agency (IEA) believes the U.S. is on track to become a sustained net oil exporter in either late 2020 or early 2021, after briefly achieving this "major milestone" earlier in the year. In September, the U.S. exported 89,000 barrels per day (b/d) more petroleum (crude oil and other petroleum products) than it imported, according to official data published earlier this month. "On a historic note, in September, the United States momentarily became a net oil exporter… This is a major milestone on its path to becoming a sustained net exporter, which is likely to be late in 2020 or early in 2021," the IEA said in its closely-watched report published on Friday. "However, this does not mean that energy independence has been achieved: The United States remains a major crude oil importer."

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