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☆ Why does gas cost more in California?
▼ + stars: | 2024-01-27 | by ( Samantha Delouya | ) edition.cnn.com time to read: +5 min

It adds about 10 cents of additional cost per gallon of gas, said Borenstein. Yet, in the fall of 2022, California gas prices shot up to a record high of nearly $6.50 per gallon after multiple refineries suffered outages. The shrinking number of oil refineries in California is another reason there’s a growing gap between California and the rest of the country’s gas prices. Those 11 refineries produce 90% of California’s gas and diesel fuel, according to California’s energy department. But Borenstein has another theory for why the price of gas is so much higher in California.

Persons: That’s, Severin Borenstein, Borenstein, Ronald Reagan, ” Reagan, David Paul Morris, ”, “, Patrick De Haan, ” Borenstein Organizations: Los Angeles CNN —, AAA, University of California Berkeley’s Haas School of Business, California Air Resources Board, Gov, Carrell, Act, Bloomberg, Getty, American Lung Association, US Energy Information Administration, Drivers, Shell, Mobil Locations: United States, California, Golden, Angeles, Los Angeles, San Francisco , California, Hawaii, Texas, Oklahoma, Louisiana, “ California, Chevron

☆ Oil rises on U.S. crude stock draw, China stimulus hopes
▼ + stars: | 2024-01-25 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose on Thursday after data showed U.S. crude stockpiles fell more than expected last week, while the Chinese central bank's cut in banks' reserve ratio reinforced hopes of more stimulus measures and economic recovery. "A significant drop in the U.S. oil inventories and expectations of China's economic recovery and more stimulus measures supported oil prices," said Toshitaka Tazawa, an analyst at Fujitomi Securities. U.S. crude stockpiles tumbled by 9.2 million barrels last week, the Energy Information Administration said, more than quadruple the 2.2 million-barrel draw analysts forecast in a Reuters poll. Oil prices also drew support from hopes for China's economic recovery. "Oil investors do need a concrete catalyst to propel prices any further which honestly seem (to be) missing for now, Sachdeva said.

Persons: Toshitaka Tazawa, Priyanka Sachdeva, Phillip Nova, Sachdeva Organizations: Brent, U.S, West Texas, Fujitomi Securities, Energy Information Administration Locations: U.S, China, Yemen

☆ Oil prices dip on weak demand, strong dollar
▼ + stars: | 2024-01-24 | by ( ) www.cnbc.com time to read: +3 min

File: A Repsol Oil Operations oil drilling rig pounds into the desert searching through thousands of feet for and oil reserve in El-Sharara, Libya. Oil prices edged lower on Wednesday, weighed down by concerns over tepid demand and a stronger dollar even though escalating geopolitical tensions limited the losses. Gasoline inventories, however, increased by 7.2 million barrels, stoking concerns over fuel demand in the world's top oil consumer. A stronger U.S. dollar also weighed on oil prices as demand from buyers in other currencies ebbs as they have to pay more for dollar-denominated oil. Elsewhere, U.S.'s third-largest oil-producing state of North Dakota brought some oil output back online after weather-related disruption, the state's pipeline authority said.

Persons: Vikas Dwivedi Organizations: Operations, Brent, . West Texas, American Petroleum Institute, The Energy Information Administration, U.S . Department of Energy, Federal Reserve, Macquarie, U.S, Houthi, Sharara, Jan Locations: El, Sharara, Libya, Russia, Ukraine, Yemen, Britain, U.S, Iran, Red, Iraq, Iraqi, North Dakota

☆ Oil extends losses as economic headwinds weigh on demand outlook
▼ + stars: | 2024-01-22 | by ( ) www.cnbc.com time to read: +2 min

Oil prices fell for a second day on Monday as economic headwinds pressured the global oil demand outlook and outweighed geopolitical concerns in the Middle East and an attack on a Russian fuel export terminal over the weekend. Brent crude fell 41 cents, or 0.5%, to $78.15 a barrel by 0105 GMT after settling down 54 cents on Friday. "This morning's subdued re-open speaks volumes about current sentiment in the crude oil market despite ongoing geopolitical tensions in Europe and the Middle East," IG analyst Tony Sycamore said. Russian producer Novatek aid on Sunday it had been forced to suspend some operations at the Baltic Sea terminal because of a fire. In the Middle East, the Gaza war rages on while the U.S. struck another anti-ship missile preparing to launch into the Gulf of Aden by Yemen's Houthi militants on Saturday.

Persons: headwinds, Brent, Tony Sycamore, Yemen's, IG's Sycamore, Baker Hughes, JP Morgan Organizations: West Texas, U.S . Energy Information Administration, International Energy Agency, Organization of, Petroleum, Energy Locations: Red, Ras Behar, Egypt, Europe, Ukrainian, Russian, Gaza, U.S, Aden, Iran, China

How Houthi Attacks Have Upended Global ShippingShipping routes before attacks After attacks EUROPE ASIA Suez Canal Red Sea Gulf of Aden Malacca Strait AFRICA Area of Houthi attacks Continued traffic South Atlantic Ocean Indian Ocean Ships diverted after attacks Cape of Good Hope Shipping routes before attacks After attacks EUROPE ASIA Suez Canal Gulf of Aden Red Sea AFRICA Area of Houthi attacks Continued traffic South Atlantic Ocean Indian Ocean Ships diverted after attacks Cape of Good Hope Shipping routes before attacks After attacks EUROPE Suez Canal Gulf of Aden Red Sea AFRICA Area of Houthi attacks Continued traffic Ships diverted after attacks Cape of Good Hope Note: To show the changing paths of ships that regularly traverse the Red Sea, 3,461 cargo vessels recorded at entrances to the Red Sea in the last three months are shown. Those detours, and the Houthi attacks, have persisted despite airstrikes by the United States and its allies against the Houthis. Houthi attack involving commercial vessels Other Houthi attacks in the Red Sea Three commercial vessels were struck in one day on Dec. 3. Nov. 15, 2023 Dec. 1 Dec. 15 Jan. 1, 2024 Jan. 15 Houthi attack involving commercial vessels Other Houthi attacks in the Red Sea Nov. 15, 2023 Armed Houthi fighters boarded a commerical vessel. The Houthi attacks have delayed China’s annual surge in exports before its factories are idled next month for the Lunar New Year.

Persons: Cape, Jan, JPMorgan Chase, Port Said Organizations: Global Shipping Shipping, Atlantic, Ships, Good Hope Shipping, Shipping, United States Central Command Shipping, Ikea, East, JPMorgan, Maersk, U.S . Energy Information Administration, Rotterdam EUROPE Venice, Good Hope, EUROPE Venice, International Monetary, Trade, Galaxy Leader, U.S . Navy, America Locations: ASIA Suez, Aden Malacca Strait AFRICA, ASIA Suez Canal Gulf, Aden Red, Suez Canal Gulf, Suez, Africa, Yemen, Israel, Gaza, United States, U.S, Asia, Europe, China, Northern Europe, East Coast, Maersk Hong Kong, The Singapore, Singapore, Slovenia, Port Said, Egypt, Port, Russia, Ukraine, India, Rotterdam EUROPE, Rotterdam EUROPE Venice Barcelona, Istanbul ASIA SYRIA LEBANON IRAN ISRAEL IRAQ Strait, Hormuz GAZA Suez, Kuwait, Red, Mumbai Malacca, YEMEN AFRICA, Aden, Good, Good Hope EUROPE ASIA SYRIA LEBANON ISRAEL IRAN IRAQ GAZA Suez, Strait, Hormuz Red, YEMEN, EUROPE, EUROPE Venice Tokyo Barcelona, Istanbul Shanghai ASIA SYRIA LEBANON IRAN ISRAEL IRAQ GAZA, Hormuz Hong, Suez Canal Kuwait, AFRICA Red, Mumbai Bangkok YEMEN Malaca, Istanbul Shanghai SYRIA LEBANON IRAN ISRAEL IRAQ ASIA GAZA, Suez Canal AFRICA Kuwait City Red, Red Sea, Beijing

☆ Oil prices drift lower on China demand worries
▼ + stars: | 2024-01-19 | by ( ) www.cnbc.com time to read: +2 min

An oil pumpjack stands idle near homes on February 09, 2023 in Long Beach, California. Oil prices drifted lower on Friday after a rally the day before, as geopolitical tensions and disruptions in U.S. oil production from a cold blast were countered by concerns over slow demand growth in China. Both benchmarks, which gained about 2% on Thursday as the International Energy Agency, or IEA, joined producer group OPEC in forecasting strong growth in global oil demand, are on track to end the week around 1-2% higher. There are also worries that the U.S.-China conflict could attract attention again as the U.S. election approaches, which would be negative for energy demand, he said. On Thursday, the IEA again raised its 2024 global oil demand growth forecast, though its projection remains lower than OPEC's expectations, and said the market looked well supplied because of strong growth outside the producer group.

Persons: Hiroyuki Kikukawa Organizations: Brent, U.S . West Texas, International Energy Agency, NS, Nissan Securities, U.S ., U.S . Energy Information Administration Locations: Long Beach , California, China, U.S, Pakistan, Iran, Tehran, Mandab, North Dakota

☆ Natural-Gas Prices Remain Under Pressure Despite Cold Snap
▼ + stars: | 2024-01-16 | by ( Jinjoo Lee | ) www.wsj.com time to read: +1 min

Liquefied natural gas flows from large storage tanks through pipelines. Photo: MERIDITH KOHUT for The Wall Street JournalNatural-gas prices have been low this winter, helped by healthy production and unusually warm weather. The U.S. entered this winter heating season with the most natural gas in storage since 2020. Even though the cold snap has helped move natural-gas prices up 7.9% year to date to $2.51 per million British thermal units, they remain about 21% below year-earlier levels. Since November, the U.S. has been withdrawing natural gas from storage at a rate that is 28% lower than the trailing five-year average, according to the EIA.

Persons: MERIDITH KOHUT Organizations: Wall, U.S . Energy Information Administration Locations: U.S

☆ Oil prices fall 1% after surprise US storage build
▼ + stars: | 2024-01-10 | by ( ) www.cnbc.com time to read: +2 min

Oil prices fell nearly a dollar a barrel on Wednesday after a surprise jump in U.S. crude stockpiles raised worries about demand in the largest oil market. Global benchmark Brent crude oil futures settled 79 cents, or 1%, to $76.80 a barrel. Early in the session, both contracts had risen by more than a dollar before the U.S. Energy Information Administration reported a surprise build in crude oil stockpiles and larger-than-expected jumps in storage of gasoline and distillates. Gasoline stocks rose by 8 million barrels while distillate stocks jumped by 6.5 million barrels, the EIA reported. Europe's weak economic outlook also added to oil demand concerns.

Persons: Rob Haworth, Haworth, Luis de Guindos, majeure Organizations: U.S . West Texas, Brent, U.S . Energy Information Administration, U.S, Bank Asset Management, EIA, European Central Bank, National Oil Corporation Locations: Nolan , Texas, U.S, Israel

☆ What the COP28 deal means for the U.S. as oil and gas production hits record levels
▼ + stars: | 2023-12-13 | by ( Sam Meredith | ) www.cnbc.com time to read: +6 min

The agreement, known as the global stocktake, was hailed as "historic" by COP28 President Sultan al-Jaber during his closing speech. Samuel Corum | Getty Images News | Getty ImagesU.S. climate envoy John Kerry said Wednesday that the COP28 agreement "sends very strong messages to the world." The fight to end oil, gas and coal must now be taken up at the country level with the United States leading the way. Fossil fuels and climate financeUnder Biden, the U.S. passed the most aggressive climate investment ever taken by Congress, a bill known as the Inflation Reduction Act. Nonetheless, the White House has frequently received sharp criticism over its plans to expand oil and gas production.

Persons: Joe Biden, Cyril Ramaphosa, Joe Biden's, Sultan al, Jaber, Samuel Corum, John Kerry, Kerry, Jean Su, Jason Bordoff, Su, Nikki Reisch, Reisch, Biden, Jennifer Granholm, Brandon Bell Organizations: White, Washington , D.C, Bloomberg, Getty, European Union, Washington Hilton, United, Center for Biological, . Energy, Administration, Russia, Center, Global Energy, Columbia University, CNBC, Center for Biological Diversity, Center for International Environmental, U.S, Biden, Marathon El Locations: South, Washington ,, Connecticut, Washington , DC, United States, China, U.S, Saudi Arabia, Russia, Ukraine, America, Marathon El Paso Refinery, El Paso , Texas, The U.S

☆ Occidental Petroleum to buy Permian producer CrownRock for $12 billion, raise dividend
▼ + stars: | 2023-12-11 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

Occidental will issue $9.1 billion in debt and about $1.7 billion in common stock to finance the transaction. Occidental Petroleum on Monday agreed to buy CrownRock , a major privately held energy producer that operates in the Permian Basin, for $12 billion. Occidental CEO Vicki Hollub said the company is purchasing CrownRock to increase its scale in the Midland Basin. Occidental is the ninth-largest energy company in the U.S. with a market capitalization of $49.7 billion. Occidental's purchase of CrownRock is the third major deal in the energy sector in less than two months.

Persons: Vicki Hollub, Hollub, CNBC's, CrownRock, Timothy Dunn, Warren Buffett's, Warren Buffett's Berkshire Hathaway, Berkshire Hathaway, Buffett, Carl Icahn, Enverus, Weeks, Hess Organizations: Midland Basin, U.S . Energy Information Administration, U.S, Occidental Petroleum, Occidental, Endeavor Resources, Houston, Lime Rock Partners, Warren Buffett's Berkshire, Anadarko Petroleum, Exxon Mobil, Natural Resources, Chevron, Pioneer, Texas Intermediate, CNBC, Energy Information Administration Locations: Occidental, Midland, Texas, U.S, Warren, Berkshire, CrownRock

☆ U.S. crude oil falls below $70 a barrel, closing at the lowest level since June
▼ + stars: | 2023-12-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

U.S. crude declined 4% on Wednesday, closing at the lowest level since late June with retail gasoline prices hitting the lowest point since January just ahead of the holiday shopping and travel season. Meanwhile, U.S. data on Wednesday sent a mixed picture on demand with crude inventories falling while gasoline stocks rose. U.S. crude inventories fell by 4.6 million barrels for the week ending Dec. 1 but gasoline inventories rose by 5.4 million barrels, according to the Energy Information Administration. Several OPEC+ members announced the voluntary cuts last week after the group failed to reach a unanimous agreement on production targets. Tamas Varga, an analyst with PVM Oil Associates, said those reassurances have "fallen to deaf ears."

Persons: Brent, Prince Abdulaziz bin Salman, Alexander Novak, Tamas Varga Organizations: West Texas Intermediate, AAA, Hamas, Wednesday, Energy Information Administration, Saudi Energy, PVM Oil Associates Locations: Washington , DC, U.S, OPEC, Moody's, Israel, Russia, Russian

WASHINGTON (AP) — The White House said Monday that the U.S. may establish a naval task force to escort commercial ships in the Red Sea, a day after three vessels were struck by missiles fired by Iranian-back Houthis in Yemen. On Sunday, ballistic missiles fired by Yemen’s Houthi rebels struck three commercial ships, while a U.S. warship shot down three drones in self-defense during an hourslong assault, the U.S. military said. He noted similar task forces are used to protect commercial shipping elsewhere, including off the coast of Somalia. The Houthi attacks imperil traffic on one of the world’s most vital shipping lanes and with it global trade overall. Political Cartoons View All 1277 ImagesThe Red Sea and Bab al-Mandab are also part of a vital route for commercial shipping overall, carrying millions of tons of agricultural products and other goods to markets yearly.

Persons: Jake Sullivan, Yemen’s Houthi, ” Sullivan, Sullivan, Jon Gambrell, Ellen Knickmeyer Organizations: WASHINGTON, U.S, U.S . Energy, Administration, ” Locations: U.S, Red, Iranian, Yemen, Israel, United States, Somalia, Gulf, Europe, China, Bab, Iran

REUTERS/Mike Segar/File Photo Acquire Licensing RightsLONDON, Dec 4 (Reuters) - U.S. crude oil production set a record for the second month running in September, highlighting the challenge to Saudi Arabia and its OPEC⁺ partners as they cut their own production to boost prices. Lower 48 production climbed to a record of 10.8 million b/d, surpassing the pre-pandemic peak of 10.5 million b/d set in December 2019. Drilling activity usually turns down around 4-5 months after prices and production turns down 10-12 months after prices fall. Production growth has slowed consistently since the middle of 2022 in response to the sharp fall in prices. Related columns:- U.S. oil output hits record as producers boost drilling efficiency (November 1, 2023)- U.S. oil producers reprieved by Saudi output cut (October 3, 2023)John Kemp is a Reuters market analyst.

Persons: Mike Segar, OPEC’s, John Kemp, Barbara Lewis Organizations: Bayway, REUTERS, OPEC, U.S . Energy Information Administration, Cooperation, Energy Information Administration, Thomson, Reuters Locations: Phillips, Linden , New Jersey, U.S, Saudi Arabia, Gulf of Mexico, Alaska, OPEC, United Kingdom, Russia, Soviet, Vienna, Brazil, Guyana, El, Saudi

DUBAI, United Arab Emirates (AP) — The United States committed Saturday to the idea of phasing out coal power plants, joining 56 other nations in kicking the coal habit that's a huge factor in global warming. U.S. Special Envoy John Kerry announced that America was joining the Powering Past Coal Alliance, which means the Biden Administration commits to building no new coal plants and phasing out existing plants. The amount of coal burned in the United States last year is less than half what it was in 2008. The Powering Past Coal Alliance started six years ago and had 50 country members until Saturday when the United States and six others joined, said alliance spokeswoman Anna Drazkiewicz. "Joining the Powering Past Coal Alliance reiterates Kosovo’s clear commitment and ongoing efforts towards a socially just and clean energy sector.”___Read more of AP’s climate coverage at http://www.apnews.com/climate-and-environment.

Persons: John Kerry, Biden, “, ” Kerry, ”, Alden Meyer, mell, ” Meyer, Anna Drazkiewicz, Artane Rizvanolli, ___ Read, Seth Borenstein Organizations: United Arab Emirates, Special, America, Past Coal Alliance, Biden Administration, U.S . Department of Energy, U.S . Energy Information Administration, The U.S, Past, Alliance, Twitter, AP Locations: DUBAI, United Arab, United States, U.S, China, India, pell, Czech Republic, Dominican Republic, Kosovo

☆ Kamala Harris announces new $3 billion US pledge to global climate action at Dubai summit
▼ + stars: | 2023-12-02 | by ( Kyle Feldscher | Ella Nilsen | ) edition.cnn.com time to read: +6 min

Harris said the US would pledge another $3 billion to the Green Climate Fund – the main finance vehicle to help developing nations adapt to the climate crisis and cut fossil fuel pollution. “Today we are demonstrating through action how the world can and must meet this crisis,” Harris said. Harris’ attendance at the summit in Dubai is in line with her recent steps to ramp up public messaging on climate change. We must treat the climate crisis as the existential threat it truly is. In what represented an early success, several countries pledged millions of dollars to help nations hit hardest by the climate crisis.

Persons: Kamala Harris, Harris, ” Harris, Coal, “, Joe Biden, Biden, Donald Trump, –, CNN’s Priscilla Alvarez, Sam Fossum, Ella Nilsen Organizations: DC CNN —, US, Environmental Protection Agency, Past Coal Alliance, Energy Information Administration, UAE, Japan, Biden, Republican, Washington Post, University of Maryland Locations: Washington, Dubai, United States, Israel, Gaza, Germany, Paris

☆ Investors flock to US natural gas ETF despite price slump
▼ + stars: | 2023-12-01 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +2 min

Storage tanks and gas-chilling units are seen at Freeport LNG, the second largest exporter of U.S. liquified natural gas, near Freeport, Texas, U.S., February 11, 2023. Reuters/Arathy Somasekhar/File Photo Acquire Licensing RightsDec 1 (Reuters) - Investors have been piling into an exchange-traded fund (ETF) designed to track U.S. natural gas prices, in spite of the commodity's dismal performance in 2023. The U.S. Natural Gas Fund's (UNG) (UNG.P) price, tied to the performance of futures contracts on the commodity, has plunged 60.7% so far this year, falling 27% in November alone. Analysts said the drop in the ETF's price came alongside a fall in the price of natural gas sparked by milder than usual weather across the United States in recent weeks. Natural gas prices fell about 22% in November, the single largest monthly percentage drop since a 40% decline in January.

Persons: Arathy, Stacey Morris, Morris, UNG, Suzanne McGee, Ira Iosebashvili, Emelia Organizations: Reuters, Natural, Analysts, New York Mercantile Exchange, U.S . Energy Information Administration, Thomson Locations: Freeport, U.S, Freeport , Texas, United States

☆ Trump’s avalanche of dishonesty: Fact-checking 102 of his false claims from this fall
▼ + stars: | 2023-12-01 | by ( Daniel Dale | ) edition.cnn.com time to read: +111 min

Below is a fact check of 102 of Trump’s false claims from the 12 speeches. But contrary to Trump’s claim, it’s not true that people had been attempting for decades to create such an initiative. Trump’s aid to farmersIn speech after speech, Trump claimed that he had given US farmers $28 billion from China. Even if the poll result is off, it’s clear that Trump’s claim that “nobody wants them” is not true. He said he was an airline pilot.”Facts First: Trump made a false claim while mocking Biden for making false claims.

Persons: Donald Trump, –, Trump, Joe Biden, Biden, Ron DeSantis, Nikki Haley, “, ”, Mexico’s, ‘ Trump, Defense Department –, ” Theresa Cardinal Brown, CNN’s Priscilla Alvarez, ” Trump, I’ve, Todd Harrison, Harrison, It’s, Trump’s, ” Ben Cahill, Nobody, Jimmy Carter’s, Barack Obama, isn’t, El Salvador –, Obama, we’d, Obama’s, Webster, Covid, Wuhan ”, They’d, they’d, you’d, Scott Gottlieb, ” Gottlieb, Trump Trump, it’s, Abraham, Aaron David Miller, Miller, Dana El Kurd, Qasem Soleimani, they’ve, we’re, We’re, ’, Iran haven’t, ” Matt Smith, Biden’s, Smith, Ali Vaez, Kpler, Biden Trump, Iran “, Democrats ”, that’s, Jimmy Carter, Carter “, Carter, ‘, Hillary Clinton, Kari Lake, Bill Gates, Gates, ” Chris Wallace, Chris Wallace, Hunter Biden, “ Chris Wallace, ‘ He’s, ‘ ” Trump, Wallace, “ you’re, “ Biden, ‘ You’re, Wallace interjected, Rather, you’ve, ’ ” Pavel Molchanov, Raymond James &, ” Molchanov, Tim Woody, Woody, autoworkers, CNN’s Ella Nilsen, Joe Biden’s, Erin Mellon, Gavin Newsom, Mellon, ” Vonette Fontaine, Biden “, CNN’s Matt Egan, Egan, ” Biden, Europe Trump, United Kingdom “, Brent, Pavel Molchanov, Raymond James, Patrick De Haan, GasBuddy, De Haan, Matt Smith, Matt Egan, Afghanistan Trump, we’ve, Krista Wiegand, Wiegand, ” Netanyahu, Benjamin Netanyahu, Israel, Qasem, Bibi, Netanyahu, Soleimani, Asad, Mark Milley, Hezbollah Trump, Steven Cheung, John Kirby, Cheung, Kirby, Iran’s, ” Ali Vaez, Joseph Amon, Washington –, Faiq Zidan, Zidan’s, Zidan, Abu Mahdi al, China Trump, Ukraine Trump, Letitia James, James, Attorney Alvin Bragg, Matthew Colangelo, You’re, Bragg, Colangelo, Tanya Chutkan, I’m, Jack Smith, Bill Clinton, That’s, everybody’s, Letitia James –, Al Capone’s, Al Capone, Capone, Brad Schwartz, CNN couldn’t, Schwartz, Eliot Ness, MAGA, “ MAGA, …, White, CNN’s Fareed Zakaria, Inflation Trump, Bacon, Joe, PolitiFact, Trump . Howard Gleckman Organizations: Washington CNN —, CNN, Republican, Trump Trump, Republican Jewish Coalition, Department, ISIS, Trump’s, Democratic, Congress, Defense Department, former Defense Department, Center, US Customs, Trump, American Enterprise Institute, Air Force, Army, Navy, Marine Corps, Strategic Petroleum Reserve, Energy Security, Center for Strategic, International Studies, US, IHS, Islamic, The State Department, Customs Enforcement, Policy Institute, ICE, El Salvador, ”, Merriam, The New York Times, Food and Drug Administration, FDA, Abraham Accords, United Arab Emirates, West Bank, Hezbollah, State Department, Carnegie Endowment, International, Arab Center Washington DC, Islamic Revolutionary Guards Corps Quds Force, Obama, US International Trade Commission, Washington Post, U.S . International Trade Commission, New England lobstermen, England lobstermen, Americas, Crisis, government’s Energy, Administration, Washington Free Beacon, Energy Information Administration, Democrats, Biden, Electoral, Georgia, Michigan, Carter, Democrats can’t, Republicans, Alabama, Arizona, Fox News, ” Energy, Oceanic, Atmospheric Administration, NOAA, Wildlife, Alaska Industrial Development, Export Authority, Raymond James & Associates, Wilderness Society, Cox Automotive, Pew Research Center, New York Times, National Oceanic, California Gov, California, American Petroleum Institute, Union, West, Energy, American Automobile Association, AAA, GasBuddy, New Hampshire, Houston, Keystone XL, Obama administration’s State Department, –, Foreign, Military, DoD, Afghan, Defense, Policy, Taiwan News, “, University of Tennessee’s Center for National Security, Foreign Affairs, Israeli, NBC, Jerusalem Post, Yahoo, Pentagon, ” CNN, Joint Chiefs, Staff, Post, National Security, Group, US government’s Defense Intelligence Agency, Narcotics Bureau, Global Health, Drexel University Dornsife School of Public Health, Justice Department, Washington, Judicial, Popular Mobilization Forces, Customs and, Middle East, Customs, Protection, CBP, Border Protection, Kiel Institute, European Union, New York, New, ExxonMobil, Trump University, Trump Foundation, Manhattan, Attorney, federal Justice Department, Department of Justice, Washington DC, Presidential Records, Presidential, Mar, Biden White, MAGA Republicans, Inflation, Heritage Foundation, Trump ., Brookings Tax, Urban Institute Locations: New Hampshire, New York City, Saudi, Florida, al Qaeda, New York, Texas, Iowa, Mexico, “, U.S, Houston, Iraq, Israel, Tel Aviv, Jerusalem, Nord, Germany, Russian, Trump’s, Russia, Ukraine, Europe, Guatemala, Honduras, El Salvador, El, Washington, ”, ” In Texas, Covid, China, Wuhan, Italy, France, Abraham, Bahrain, Morocco, Sudan, Gaza, Lebanon, Syria, Iran, Yemen, Libya, Palestine, Afghanistan, Somalia, Pakistan, New England, England, Kpler, Malaysia, Oregon, Alabama, Maricopa County, Arizona, Arizona’s, Moscow, Alaska, East, South Carolina, California, “ California, West Virginia, Virginia, United Kingdom, West Texas, “ U.S, Los Angeles, Venezuela, Mississippi , Louisiana, Canada, United States, Paris, Taiwan, “ China, Iranian, that’s, –, Singapore, Iraqi, San Diego, Kiel, York, Manhattan, York’s, Chicago, Philadelphia, Georgia, Qaeda

“Despite the challenges, we still expect OPEC+ to reach an agreement to reduce production," he said in an analyst note. Lower oil prices have allowed U.S. gas prices to fall or stay steady since Sept. 19, AAA said. White House national security spokesman John Kirby declined to address the possibility of OPEC+ reducing oil production. U.S. oil production has hit records as OPEC+ has cut back, with producers outside the group expected to keep leading global growth in oil supply next year, the International Energy Agency said in its November oil report. Now, the risk is growing that Saudi Arabia’s production cuts could reduce OPEC’s influence over oil supplies as other countries boost their output.

Persons: That's, Jorge Leon, Brent, Joe Biden, Biden, John Kirby, “, ” Kirby, ” Leon, ” ___ Boak Organizations: OPEC, United Arab, Rystad Energy, International Monetary Fund, Brent, New York Mercantile Exchange, AAA, Gas, White House, International Energy Agency, U.S, U.S . Energy Information Administration, Saudi Locations: Saudi Arabia, Russia, OPEC, Israel, United Arab Emirates, Vienna, Ukraine, United States, U.S, Washington

☆ Oil prices fall on weak demand indicators, China data
▼ + stars: | 2023-11-30 | by ( ) www.cnbc.com time to read: +1 min

An oil pumpjack is seen near a field of wind turbines on October 04, 2023 in Nolan, Texas. Oil prices fell in early Asian trade on Thursday on weaker-than-expected Chinese manufacturing data, but investors maintained caution ahead of an OPEC+ meeting where production cuts are expected. Brent crude futures fell 28 cents, or 0.3%, to $82.90 a barrel by 0024 GMT, while U.S. West Texas Intermediate crude futures fell 24 cents, or 0.3%, to $77.68 a barrel. The U.S. Energy Information Administration on Wednesday reported a surprise build in U.S. crude oil and distillate fuel stocks last week, indicating weak demand. Members of OPEC+ are due to hold a policy meeting on Thursday.

Organizations: Brent, U.S, West Texas, Reuters, U.S . Energy, Administration, Organization of Petroleum, OPEC Locations: Nolan , Texas, OPEC, Russia

☆ Phillips 66's refining operations come under activist radar
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +4 min

REFINERIES:WOOD RIVER, Roxana, Illinois, refining capacity: 356,000 barrels per day (bpd)Largest Phillips 66 refinery by operating capacity. LOS ANGELES: Carson and Wilmington, California, capacity: 139,000 bpdTwo sites linked by pipeline, producing California Air Resources Board-grade gasoline and fuel-grade petroleum coke. *SAN FRANCISCO: Santa Maria, Wilmington, California and Rodeo, Rodeo, California, capacity: 120,200 bpdPhillips 66's San Francisco operations consisted of two sites: Santa Maria refinery in Wilmington, California and Rodeo refinery in Rodeo, California. INTERNATIONAL REFINERIES:HUMBER, North Lincolnshire, United Kingdom, total throughput: 245,000 bpdProduces transportation fuels, petrochemical feedstocks, home heating oil and petroleum coke. MiRO, Karlsruhe, Germany, total throughput: 61,000 bpdProduces transportation fuels, petrochemical feedstocks, home heating oil, bitumen, and petroleum coke.

Persons: Bing Guan, refiner Phillips, Phillips, Santa, Santa Maria, Shariq Khan, Matthew Lewis Organizations: Phillips, Los, Los Angeles Refinery, REUTERS, Investment Management, Energy, Exports, California Air Resources, INTERNATIONAL, MiRO, . Energy, Thomson Locations: Los Angeles, Carson , California, U.S, Wood, Borger, Roxana , Illinois, Midcontinent, BORGER, Borger , Texas, West Texas, New Mexico , Colorado, SWEENY, Old Ocean , Texas, United States, America, LAKE CHARLES, Westlake , Louisiana, Europe, Linden , New Jersey, York, Bayway, East Coast . PONCA CITY, Ponca City , Oklahoma, ANGELES, Carson, Wilmington , California, California, California , Nevada, Arizona, FERNDALE, Ferndale , Washington, BILLINGS, Billings , Montana, Montana , Wyoming , Idaho , Utah, Colorado, Washington, Santa Maria, Rodeo , California, Francisco, HUMBER, North Lincolnshire, United Kingdom, Karlsruhe, Germany, Switzerland, France, Austria, San Francisco, Bengaluru

An advanced geothermal project has begun pumping carbon-free electricity onto the Nevada grid to power Google data centers there, Google announced Tuesday. Getting electrons onto the grid for the first time is a milestone many new energy companies never reach, said Tim Latimer, CEO and co-founder of Google's geothermal partner in the project, Houston-based Fervo Energy. Political Cartoons View All 1267 ImagesFervo is using this first pilot to launch other projects that will deliver far more carbon-free electricity to the grid. Google and Fervo Energy started working together in 2021 to develop next-generation geothermal power. Google announced back in 2020 that it would use carbon-free energy every hour of every day, wherever it operates, by 2030.

Persons: Tim Latimer, ” Latimer, Michael Terrell, We’re, ”, Terrell, “, ” Terrell, Jennifer Granholm, Granholm, Sarah Jewett, Latimer, DCVC, Rachel Slaybaugh, Fervo, Slaybaugh, it’s, Jewett Organizations: Google, Energy, International Energy Agency, Fervo Energy, U.S . Energy Information Administration, Energy Department, DOE, Massachusetts Institute of Technology, AP Locations: Nevada, Houston, Utah, Winnemucca , Nevada, Las Vegas, Reno, United States, California , Nevada , Utah, Hawaii , Oregon , Idaho, New Mexico, Latimer, Fervo, Beaver County , Utah

☆ NZ Funds says uranium bet returns over 300% profit
▼ + stars: | 2023-11-23 | by ( Nell Mackenzie | ) www.reuters.com time to read: +3 min

Uranium is a key input in the production of nuclear energy. NZ Funds said the rise in the uranium price in this time had boosted the returns of its existing options positions by as much as 362% so far. "The drive for an energy transition has increased positive sentiment towards nuclear energy. "NZ Funds have the in-house infrastructure and investment team, along with world-class expertise from our partners at Syzygy to support these types of investments," said Mark Brooks, senior portfolio manager at NZ Funds. Nuclear energy is responsible for 10% of the world's power generation, EIA website statistics show.

Persons: Syzygy, Goldman Sachs, William Callanan, Mark Brooks, Nell Mackenzie, Amanda Cooper, David Evans Organizations: U.S, Reuters, Wednesday, Funds, Technological, Senate, Fuel Security, Uranium, NZ Funds, U.S . Energy Information Administration, EIA, Thomson Locations: Russia, China, Japan, Ukraine, United States, U.S, Canada, Kazakhstan, Uzbekistan

☆ U.S. Crude Oil Inventories Rise by 8.7 Million Barrels in Week
▼ + stars: | 2023-11-22 | by ( Anthony Harrup | ) www.wsj.com time to read: 1 min

Photo: nick oxford/ReutersU.S. crude oil and gasoline inventories increased more than expected last week while refinery capacity use rose from a week before, according to data released Wednesday by the Energy Information Administration. Commercial crude-oil stockpiles excluding the Strategic Petroleum Reserve, rose by 8.7 million barrels to 448.1 million barrels in the week ended Nov. 17, and were 1% below the five-year average for the time of year, the EIA said.

Organizations: oxford, Reuters, Energy Information Administration, Strategic Petroleum Reserve

☆ Oil edges lower in choppy trade as OPEC+ delays meeting
▼ + stars: | 2023-11-22 | by ( Nicole Jao | ) www.reuters.com time to read: +3 min

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. The delay stoked concerns that more production could come online from oil producers in the coming months, said Dennis Kissler, senior vice president of trading at BOK Financial. A rise in inventories also pressured prices lower on Wednesday morning, he said. U.S. crude oil inventories rose by 8.7 million barrels last week on higher imports, the Energy Information Administration (EIA) said. To support prices, OPEC and its allies will need to not only extend, but increase cuts, said John Evans of oil broker PVM in a note.

Persons: Angus Mordant, Dennis Kissler, John Evans, Nicole Jao, Paul Carsten, Ahmad Ghaddar, Laura Sanicola, Colleen Howe, Jason Neely, Marguerita Choy, David Gregorio, Deepa Babington Organizations: REUTERS, . West Texas, U.S, Organization of, Petroleum, BOK, Energy Information Administration, U.S ., greenback, Reuters, International Energy, Thomson Locations: Loving County , Texas, U.S, Brent, OPEC, Saudi Arabia, Russia

☆ White House needs to talk turkey about inflation
▼ + stars: | 2023-11-22 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

NEW YORK, Nov 22 (Reuters Breakingviews) - Hey, White House. The release noted that lower inflation was among the things that Americans should be thankful for. Gasoline prices, for example, are down a quarter from their high in June 2022, according to the U.S. Energy Information Administration. The price of the average Thanksgiving meal has dropped from last year, too. Meantime food prices in the average U.S. city are up a fifth since December 2020, according to the St. Louis Federal Reserve.

Persons: they’ll, paychecks, Joe Biden, Biden, ”, he’s, Jonathan Guilford, Aditya Sriwatsav Organizations: Reuters, U.S . Energy Information Administration, Louis Federal Reserve, American Farm Bureau Federation, Associated Press, NORC, for Public Affairs Research, White, Thomson Locations: U.S

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