Archives for 2016
Oil rally continues; Brent rises to $50
Oil held gains after the longest advance in more than a year as U.S. crude and gasoline stockpiles declined, paring supplies at their highest seasonal level in two decades. Brent rose above $50 a barrel...
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New fuel efficiency standards whittle away at oil demand
The Obama administration formalized new fuel efficiency standards for heavy trucks on the same day Ford announced plans for autonomous vehicles and an MIT study showed that most Americans could make do with an electric...
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Crude oil and gasoline gluts beginning to shrink
Although oil and refining production levels are actually on the rise, the amount of liquids sitting in storage are falling. Crude inventories fell by 2.5 million barrels from last week, while gasoline stockpiles dipped by...
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Market Currents: Weak oil exports seen from some parts of OPEC
Today’s weekly EIA inventory report has provided a very (very) welcome distraction from the production freeze jawboning. A solid draw to crude stocks, helped in large part by another large draw to the West Coast...
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Flooding forces Exxon to shut down Louisiana refinery
Exxon Mobil curbed operations at the fourth-largest U.S. refinery in the U.S. as record flooding in Louisiana shut roadways, sent tens of thousands fleeing from their homes and threatened the state’s oil infrastructure. The...
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