Joseph
Markman
Hart Energy
US Crude Oil Stockpiles Surge; Distillates Draw Down: EIA
U.S. refiners have been running at above-average levels for this time of year to boost inventory levels, though they pulled back on activity last week.
Martin Midstream Sells California Sulfur Terminal to Gulf Terminals
The asset sale on Oct. 10 included Martin Midstream’s Stockton Sulfur Terminal in California, which Gulf Terminals LLC agreed to acquire for approximately $5.25 million.
US Sells Oil from Emergency Reserve to Marathon, Equinor, Others
First offered in September, the sale was part of President Joe Biden’s previously announced plan to sell 180 million barrels of oil from the reserve to fight high petroleum prices after Russia's invasion of Ukraine.
Analysts Forecast ‘Wild Ride’ for LNG Production, Prices across US
Speaking at Hart Energy’s America’s Natural Gas Conference, East Daley analyst Zach Van Everen predicts gas markets will be oversupplied in the short term but believes exports will eventually drive production for decades.
US to Sell Oil from Current SPR Release for November Delivery
President Joe Biden’s plan announced in March of the largest release of oil from SPR in history had aimed to sell 180 million barrels by the end of October. So far, only 155 million barrels have been sold.
US Emergency Oil Reserves Tumble to Lowest Since 1984
The Biden administration is weighing the need for further SPR releases after the current program ends in October, Energy Secretary Jennifer Granholm told Reuters last week.
Williams Acquires NorTex Midstream in $423 Million Deal
Natural gas pipeline and storage assets serve Dallas-Fort Worth region.
Natural Gas Price Primed to Break Record, Even if Winter is Mild
Low inventories and high demand for U.S. LNG from Europe could force gas prices into the double digits for an extended period, analyst says.
Russia Deepens Europe's Energy Squeeze with New Gas Halt
German regulator Klaus Mueller shared that the country is now better prepared for any power outages due to its efforts to store more natural gas.
US Crude, Fuel Stockpiles Shrink While Gasoline Demand Drops: EIA
The crude oil inventory decline would have been larger if not for another big release of barrels from U.S. Strategic Petroleum Reserve (SPR).