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Brent crude futures for April , due to expire on Tuesday, were up by 39 cents to $82.84 per barrel by 0718 GMT. Likewise, U.S. West Texas Intermediate (WTI) crude futures gained 61 cents to $76.29 a barrel. Brent and WTI futures were both on track, however, for monthly losses of around 2.2% and 3.8% respectively, with WTI likely to hit a four-month streak of declines. JPMorgan's oil analysts maintained their 2023 average price forecast on Brent crude futures at $90 per barrel. Seven analysts polled also estimated that gasoline stocks rose by about 700,000 barrels.

Brent crude futures for April , due to expire on Tuesday, gained 14 cents to $82.59 per barrel by 0443 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 21 cents to $75.89 a barrel. Brent and WTI futures were both on track for monthly losses of around 2.2% and 3.8% respectively, with WTI likely to hit a four-month streak of declines. JPMorgan's oil analysts maintained their 2023 average price forecast on Brent crude futures at $90 per barrel. A preliminary Reuters poll showed analysts expected crude stocks grew by 400,000 barrels in the week to Feb. 24, which would mark the tenth consecutive week of builds.

☆ Oil steadies after fall on fear of rate hikes, rising inventories
▼ + stars: | 2023-02-28 | by ( Laila Kearney | ) www.reuters.com time to read: +2 min

"The stronger than expected inflation numbers raised concerns about further hikes in interest rates, which has already curbed demand in the U.S.," ANZ analysts said in a client note. The possibility that slower-growing wages might help limit inflation, however, kept crude from moving lower. The market will be looking out for the latest U.S. oil stocks data due from the American Petroleum Institute industry group on Tuesday and the government's Energy Information Administration on Wednesday for further demand indicators. A preliminary Reuters poll showed analysts expected crude stocks grew by 400,000 barrels in the week to Feb. 24, which would mark the tenth consecutive week of builds. Helping to put a floor on prices, distillate inventories, which include diesel and heating oil, were expected to have decreased by about 500,000 barrels last week.

SummarySummary Companies API shows U.S. crude stocks rise - market sourcesOPEC raises 2023 oil demand growth forecastFeb 15 (Reuters) - Oil prices extends losses on Wednesday as a much bigger-than-expected surge in the U.S. crude inventories and expectations of further interest rate hikes sparked concerns over the prospect of weaker fuel demand and economic recession. U.S. crude inventories rose by about 10.5 million barrels in the week ended Feb. 10, according to market sources citing American Petroleum Institute (API) figures on Tuesday. Gasoline stocks rose by about 846,000 barrels, while distillate stocks rose by about 1.7 million barrels, according to the sources, who spoke on condition of anonymity. "The API data put mounting pressure on the oil market as this would be the eighth week of stocks building ... Tepid demand in the U.S. market would continue to depress oil prices in the near term," said analysts from Haitong Futures. Global oil demand will rise this year by 2.32 million barrels per day (bpd), or 2.3%, OPEC said, raising the forecast from February by 100,000 bpd.

☆ Oil falls as earthquake impact on crude eases, rate hike fears rise
▼ + stars: | 2023-02-09 | by ( Laila Kearney | ) www.reuters.com time to read: +2 min

Brent crude settled at $84.50 a barrel, losing 59 cents, or 0.7%. U.S. crude stocks rose last week to 455.1 million barrels, their highest since June 2021, the Energy Information Administration reported on Wednesday, which also pushed oil prices lower. The prospect of stronger demand from China provided some support to oil prices, as the world's second largest oil consumer ended more than three years of stringent zero-COVID policy. "Overall, this should push global demand up by 2.1 million barrels a day in 2023." A weaker U.S. dollar, which typically trades inversely with oil, also helped limit losses in crude prices.

☆ U.S. power use to slide in 2023 from record high on weaker economic activity
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +2 min

The statistical arm of the U.S. Department of Energy projected power demand will slide from a record 4,045 billion kilowatt-hours (kWh) in 2022 to 3,999 billion kWh in 2023, before rising to 4,063 billion kWh in 2024 as economic growth ramps up. That compares with an eight-year low of 3,856 billion kWh in 2020 when the coronavirus pandemic depressed demand. The EIA projected 2023 power sales would ease to 1,475 billion kWh for residential consumers, 1,373 billion kWh for commercial customers, and 1,001 billion kWh for the industrial sector. That compares with all-time highs of 1,516 billion kWh for residential consumers in 2022, 1,382 billion kWh in 2018 for commercial customers and 1,064 billion kWh in 2000 for industrial customers. Natural gas' share of power generation would hold at 39% in 2023, the same as 2022, before sliding to 37% in 2024, the EIA said.

☆ U.S. crude output to rise in 2023, while demand to stay flat -EIA
▼ + stars: | 2023-02-07 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +1 min

Companies U.S. Energy Information Administration FollowNEW YORK/HOUSTON, Feb 7 (Reuters) - U.S. crude production will rise in 2023 even as demand flattens, the U.S. Energy Information Administration (EIA) said on Tuesday in its Short Term Energy Outlook. EIA's latest forecast calls for crude oil production to rise by 590,000 barrels per day, to 12.49 million barrels per day (bpd) in 2023, and by another 160,000 barrels to 12.65 million bpd next year. U.S. petroleum and other liquid fuels consumption will stay flat at 20.3 million bpd this year, the EIA said, while forecasting U.S. economy would contract slightly in the first six months. The agency also forecast Russian production of petroleum and other liquids would decline by about 1 million to 9.9 million bpd in 2023. Brent crude oil prices will decline in the second half of the year to about $82 per barrel from $85 per barrel in the first half as global oil production outpaces demand and leads to inventory builds, EIA added.

☆ Bigger utilities to benefit most from Biden's clean-energy funds
▼ + stars: | 2023-02-07 | by ( Laila Kearney | ) www.reuters.com time to read: +3 min

The Biden administration's $430 billion Inflation Reduction Act devotes billions of dollars for tax credits and direct payments for solar, wind, battery and other energy sources to move electric power supplies from fossil fuels. Regulated utilities including Duke Energy Corp (DUK.N) and Dominion Energy Inc (D.N) begin reporting fourth-quarter results this week and analysts expect them to lay out plans for capitalizing on the IRA. NextEra, the biggest U.S. generator of renewable energy, has a backlog of 16,500 megawatts of renewables projects. The parent of Florida Power and Light has added 25% to that backlog in the last year, executives have said. Solar projects in sunny states in the south and southwest and wind projects in the Midwest are among the best situated to collect IRA dollars, she said.

Early on Friday, the core of the cold air mass, driven from Arctic Canada into the United States by high-altitude air currents, was centered over the U.S. Plains, said weather service forecaster Bob Oravec. International Falls, Minnesota, was the coldest spot as of 7 a.m., with temperatures hovering around -36 F (-38 C). "It's moving into the Northeast" and temperatures will drop throughout the day on Friday, he said. By comparison, air temperatures in Eureka, Canada's northernmost Arctic weather station, were hovering at -41 F (-41 C) on Friday morning. Boston was about 22 above zero F (-6 C) on Friday morning, with temperatures expected to plummet throughout the day and hit -3 F (-19 C) by midnight.

Dangerous wind chills were likely in an area stretching from northern Pennsylvania to Maine starting early on Friday and through Saturday evening, the National Weather Service said in its forecast. "The wind chills have the potentially to be once-in-a- generation cold," the weather service said, urging people to either stay indoors or take precautions against frostbite and hypothermia. The wind chill factor describes the combined effect of wind and cold temperatures on exposed skin. In New Hampshire's Mount Washington State Park, atop the Northeast's highest peak, record-breaking wind chills of -110 degrees and wind speeds topping 100 miles (160 km) per hour were expected. Boston Mayor Michelle Wu declared a cold emergency for New England's biggest city for Friday through Sunday, as the city is expecting below-zero wind chills starting Friday.

SummarySummary Companies OPEC+ seen sticking with oil output policy at Feb. 1 meetingInvestors watch for central bank rate hikesPositive China data caps weaknessJan 31 (Reuters) - Oil prices fell on Tuesday as the threat of further interest rate increases and ample Russian crude flows outweighed demand recovery expectations from China. March Brent crude futures declined 25 cents to $84.65 per barrel by 0715 GMT. The March contract expires on Tuesday and the more heavily traded April contract fell by 38 cents, or 0.45%, to $84.12. Likewise, U.S. West Texas Intermediate (WTI) crude futures dropped by 44 cents, or 0.56%, to $77.46 a barrel. Higher rates could slow the global economy and weaken oil demand.

☆ Oil steadies after falling on rate hike worries, Russian crude flows
▼ + stars: | 2023-01-31 | by ( Laila Kearney | ) www.reuters.com time to read: +2 min

SummarySummary Companies OPEC+ seen sticking with oil output policy at Feb. 1 meetingRussian oil supply appears to remain strongInvestors watch for central bank rate hikesJan 31 (Reuters) - Oil prices steadied in early Asian trade on Tuesday after falling by more than 2% in the previous session on the threat of further interest rate hikes and continued Russian crude flows. Brent crude futures gained 28 cents to $85.18 per barrel by 0155 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 9 cents to $77.99. The panel is expected to recommend keeping the oil producer group's current output policy unchanged when it meets this week, five OPEC+ delegates told Reuters on Monday. Lending some support to oil prices, the U.S. dollar index has fallen by 1.3% in January so far. Reporting by Laila Kearney in New York; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ Oil steady as market awaits more supply clarity
▼ + stars: | 2023-01-26 | by ( Jeslyn Lerh | ) www.reuters.com time to read: +2 min

REUTERS/Todd Korol/File Photo/File PhotoSINGAPORE, Jan 26 (Reuters) - Oil prices were steady on Thursday after U.S. crude stocks climbed less than expected, while investors awaited further clarity on supply drivers, including an OPEC+ meeting and the looming EU ban on Russian refined products. "The upcoming EU embargo on Russian refined products remains a major source of concern for the market, with widespread dislocations expected to materialize," the Citi analysts said. Oil prices were also little changed after data showed a build in U.S. crude inventories that was less than expected. Crude inventories edged higher by 533,000 barrels to 448.5 million barrels in the week ending Jan. 20, the Energy Information Administration (EIA) said. That was substantially short of forecasts for a 1 million barrel rise, though according to the EIA crude stocks are at their highest since June 2021.

☆ Oil edges up as U.S. crude inventories rise less than expected
▼ + stars: | 2023-01-26 | by ( Laila Kearney | ) www.reuters.com time to read: +1 min

REUTERS/Todd Korol/File Photo/File PhotoSummarySummary Companies EIA shows U.S. crude stocks up less than expectedU.S. dollar easesGlobal 2023 economic view downgraded, at odds with marketJan 26 (Reuters) - Oil prices were up in early Asian trade on Thursday as U.S. crude stocks rose less than expected, while a weaker dollar made oil cheaper for non-American buyers. Brent crude futures had risen 12 cents to $86.24 per barrel by 0119 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 30 cents to $80.45. Crude inventories rose by 533,000 barrels to 448.5 million barrels in the week ending Jan. 20, the Energy Information Administration (EIA) said. Despite the smaller-than-expected crude build, crude stocks reached the highest level since June 2021, the EIA said. read moreA factor that kept oil from moving higher was concern about a slowing global economy hampering fuel demand.

U.S. West Texas Intermediate (WTI) crude rose $2.29, or 3.1%, to settle at $77.41. Global equities were up on hopes that U.S. inflation and earnings figures due on Thursday will indicate a resilient economy and result in a slower pace of interest rate hikes. Oil demand is coming back and expectations are high that China’s demand is about to skyrocket," said Edward Moya, senior market analyst at data and analytics firm OANDA. Analysts polled by Reuters had forecast a 2.2 million-barrel decline in crude stocks, and industry data from the American Petroleum Institute (API) showing a 14.9 million-barrel build. ,EIA this week forecast U.S. crude production will reach all-time highs in 2023 and 2024.

☆ SolarEdge sees U.S. solar growth slowing in 2023, European markets surging
▼ + stars: | 2023-01-05 | by ( Laila Kearney | ) www.reuters.com time to read: +1 min

Companies Solaredge Technologies Inc FollowNEW YORK, Jan 5 (Reuters) - Growth in the U.S. solar industry is expected to slow down in 2023, while some European and Asian markets are poised to surge, SolarEdge Chief Financial Officer Ronen Faier said on Thursday. Some solar markets in Europe, especially in German-speaking countries and the United Kingdom, could jump by more than 100% over the year, he said. In the United States, that growth is expected to be around 15%, he added. Taiwan, Japan and other Asian nations are also expected to accelerate their expansion of solar build-outs and use. Reporting by Laila Kearney Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ Oil set to end volatile 2022 with second annual gain
▼ + stars: | 2022-12-30 | by ( Laila Kearney | ) www.reuters.com time to read: +2 min

FILE PHOTO: A view shows Chao Xing tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana MeelCrude surged in March with international benchmark Brent reaching $139.13 a barrel, the highest since 2008, after Russia’s invasion of Ukraine upended global crude flows. U.S. crude was set to rise about 5% in 2022, following last year’s gain of 55%. “So I think oil prices may fall to $60 next year..Oil’s decline in the second half of 2022, largely on rising interest rates to fight inflation, boosted the U.S. dollar. The world’s top oil importer and second biggest consumer in 2022 posted its first drop in oil demand for years.

☆ U.S. deep freeze forecast to break Christmas Eve records
▼ + stars: | 2022-12-24 | by ( Rich Mckay | ) www.reuters.com time to read: +4 min

Dec 24 (Reuters) - An arctic blast that has gripped much of the United States this week, disrupting daily life and holiday travel for millions of Americans, was expected to produce the coldest Christmas Eve on record in several cities from Pennsylvania to Florida. Temperatures are forecast to top out on Friday at just 8 degrees Fahrenheit (-13 Celsius) in Pittsburgh, the largest city in western Pennsylvania, surpassing its previous all-time coldest Christmas Eve high of 13 F, set in 1983, the National Weather Service (NWS) said. The capital cities of Florida and Georgia - Tallahassee and Atlanta - were likewise expected to record their coldest daytime Christmas Eve high temperatures, while Washington, D.C., was forecast to experience its chilliest Dec. 24 since 1906. Extreme winter weather was blamed for at least five deaths on Friday. The NWS said its map of existing or impending meteorological hazards "depicts one of the greatest extents of winter weather warnings and advisories ever."

As the storm took shape over the Great Lakes on Thursday, a weather phenomenon known as a bomb cyclone was likely to develop from a "rapidly deepening low-pressure" system, the National Weather Service (NWS) said. The cyclone could spawn snowfalls of a half inch (1.25 cm) per hour and howling winds from the Upper Midwest to the interior Northeast, producing near-zero visibility, the weather service said. "It's dangerous and threatening," President Joe Biden said at the White House, urging Americans with travel plans to not delay and to set off on Thursday. Hundreds of Texans died in February 2021 after the state's power grid failed amid wintry storms, leaving millions without electricity. Greg Carbin, chief of forecast operations at the NWS Weather Prediction Center in Maryland, said freezing or below-freezing cold would bisect central Florida, with temperatures about 25 degrees below normal.

With the deep freeze stretching from Montana to Texas as it crept eastward, some 240 million people - more than two-thirds of the U.S. population - were under winter weather warnings and advisories on Friday, the National Weather Service (NWS) said. The map of existing or impending wintry hazards "depicts one of the greatest extents of winter weather warnings and advisories ever," the NWS said. [1/5] A driver makes their way through a flooded street at high tide during a winter storm in Gloucester, Massachusetts, U.S., December 23, 2022. Their plight has added to local agencies scrambling to get people off the streets as the arctic blast arrived. While some areas downwind from the Great Lakes received a foot or more of snow on Friday, "the big story wasn't so much the falling snow but the blowing snow," weather service meteorologist Brian Hurley said.

☆ Deep freeze grips U.S. as winter 'bomb cyclone' looms ahead of holiday weekend
▼ + stars: | 2022-12-23 | by ( Steve Gorman | ) www.reuters.com time to read: +4 min

Numbing cold intensified by high winds was expected to extend as far south as the U.S.-Mexico border. The NWS map of existing or impending wintry hazards, stretching from border to border and coast to coast, "depicts one of the greatest extents of winter weather warnings and advisories ever," the agency said. The bomb cyclone could unleash snowfalls of a half inch (1.25 cm) per hour driven by gale-force winds, cutting visibility to near zero, the weather service said. Power outages were expected from high winds, heavy snow and ice, as well as the strain of higher-than-usual energy demands. The weather service said relief from the deep freeze was in sight for the northern Rockies and High Plains, where the arctic blast first materialized on Thursday.

More than 1.5 million homes and businesses lost power, oil refineries in Texas cut gasoline and diesel production on equipment failures, and heating and power prices surged on the losses. Oil and gas output from North Dakota to Texas suffered freeze-ins, cutting supplies. Freeze-ins - in which ice crystals halt oil and gas production - this week trimmed production in North Dakota's oilfields by 300,000 to 350,000 barrels per day, or a third of normal. Power prices on Texas's grid also spiked to $3,700 per megawatt hour, prompting generators to add more power to the grid before prices fell back as thermal and solar supplies came online. That is the biggest drop in output since the February 2021 freeze knocked out power for millions in Texas.

☆ Oil prices little changed as U.S. crude drawdown offsets China COVID worries
▼ + stars: | 2022-12-21 | by ( Isabel Kua | ) www.reuters.com time to read: +2 min

Companies United States of America FollowSINGAPORE, Dec 21 (Reuters) - Oil prices were little changed on Wednesday as a larger-than-expected draw in U.S. crude stocks offset worries about rising COVID-19 cases in top oil importer China. Gasoline inventories rose by about 4.5 million barrels, while distillate stocks rose by 828,000 barrels, according to the sources, who spoke on condition of anonymity. "A larger-than-expected draw in U.S. inventories, coupled with U.S. plans to refill their Strategic Petroleum Reserve have supported oil prices," said Serena Huang, head of APAC analysis at Vortexa. Oil prices were boosted by these comments which suggest that OPEC+ may continue to keep supply tight to support oil prices, CMC Markets analyst Tina Teng said. Growing worries about a surge in COVID-19 cases in China as the country begins dismantling its strict zero-COVID policy kept oil prices from moving higher.

☆ Oil prices up as U.S. crude stocks seen falling, dollar eases
▼ + stars: | 2022-12-21 | by ( Laila Kearney | ) www.reuters.com time to read: +2 min

SummarySummary Companies API shows U.S. crude stocks down, fuel inventories up -sourcesU.S. dollar easesSurging COVID-19 cases in China limit gainsDec 21 (Reuters) - Oil prices rose in early Asian trade on Wednesday as U.S. crude stocks were seen falling last week, while the dollar weakened, making oil less expensive for non-American buyers. Brent crude futures rose 8 cents to $80.07 per barrel by 0126 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 6 cents to $76.29. U.S. crude oil inventories fell by about 3.1 million barrels in the week ended Dec. 16, according to market sources citing American Petroleum Institute figures. Gasoline inventories rose by about 4.5 million barrels, while distillate stocks rose by 828,000 barrels, according to the sources, who spoke on condition of anonymity. Oil prices, which came close to the all-time high of $147 a barrel in March after Russia invaded Ukraine, have unwound most of their 2022 gains.

☆ EVs and crypto mining seen as emerging risks for U.S. power reliability
▼ + stars: | 2022-12-15 | by ( Laila Kearney | ) www.reuters.com time to read: +3 min

NEW YORK, Dec 15 (Reuters) - The adoption of electric vehicles and rise of cryptocurrency mining pose emerging challenges to U.S. power reliability in upcoming years, the North American Electric Reliability Corporation said on Thursday. The potential growth of cryptocurrency miners, which use supercomputers to power their operations, can also "have a significant effect on demand and resource projections," NERC said. Earlier this month, the Electric Reliability Council of Texas announced a voluntary curtailment program for customers, including bitcoin mining facilities, to reduce power during peak demand periods. Non-EV energy transition measures, which rely heavily on the electrification of businesses and residences, will also add grid pressures, NERC said. That increase comes as the shutdown of coal, nuclear and natural-gas power plants outpaces the replacement of new power generation capacity.

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