Energy Policy Watch: State of Electricity Reliability in Texas
PUC Commissioner Jimmy Glotfelty joins the latest installment of Energy Policy Watch to discuss the ongoing efforts by the PUC on wholesale electric market design and strengthening the reliability of the Texas power grid.
US Natgas Jumps 10% as Heat Wave Forces Texas to Seek Power Conservation
The jump in gas prices, which was only the highest in the past few days, came despite an increase in U.S. output to record highs and forecasts for lower gas demand over the next two weeks than previously expected.
US Natgas Futures Jump 14% on Small Storage Build, Hot Weather
“Today’s strong [natural gas price] advance ... not only reflected some bullish spillover from the oil [market] but also a much smaller storage injection per the EIA than had generally been expected,” said analysts at Ritterbusch and Associates, a consultancy.
US Crude Oil Inventories Soar, Fuel Stocks Dip: EIA
“We know refiners are going to have to continue to run at a high rate to keep up with demand. And so the expectation is that the crude supplies are not going to build as dramatically next week,” said Phil Flynn, analyst at Price Futures Group.
Oil from US Reserves Head Overseas as Gasoline Prices Stay High
The flow is draining the U.S. Strategic Petroleum Reserve, which last month fell to the lowest since 1986.
US Crude Stocks Down, Fuel Inventories Up as Refiners Hit the Gas
The U.S. oil industry has been trying to boost output, but inventories keep dwindling, with supplies at the Cushing, Oklahoma hub dropping to the lowest since October 2014, the EIA said.
US Natgas Futures Drop to 11-week Low on Surprise Storage Build
In what has already been a volatile year of trade, the June 23 price drop was only the biggest one-day decline since mid-June. So far in 2022, U.S. natural gas futures have lost over 10% in five sessions.
US to Sell Up to 45 Million Barrels of Oil from Historic SPR Release
The SPR release was meant to help control oil prices that spiked after Russia invaded Ukraine. However, oil prices have marched higher since the March 31 announcement.
SPR Posts Record Drawdown, US Commercial Crude Stocks Build: EIA
Brent crude futures and WTI crude futures in the U.S. rose immediately following the data release, along with gasoline and distillate futures.
US Crude Oil, Fuel Stockpiles Fall in Tight Market: EIA
The fall comes even though the U.S. government released more than 5 million barrels of reserves in the most recent week and as net crude imports rose by 83,000 bbl/d, the EIA said.