Given renewed economic concerns in Europe, some analysts wonder why oil hasn’t dropped further. More »
Engineering professor warns TransCanada has been overly optimistic about impact of spills along proposed Keystone XL. More »
A slowdown in hiring means that gasoline demand could remain stagnant as fewer workers join the daily commute, and consumers limit driving and trips to the gas station as they watch their spending.
The move underscores mounting tensions between the state and Exxon Mobil over the company’s handling of a pipeline rupture that spewed tens of thousands of gallons of oil into the scenic Yellowstone River.
The price at the pump rose slightly in Houston and nationwide. More »
Drilling in the Eagle Ford shale is bringing change to the refinery closest to the drilling: Valero’s Energy Corp.’s Three Rivers plant. The refinery began taking in Eagle Ford crude late last year. Now the 100,000-barrel-a-day plant is processing about 35,000 barrels of Eagle Ford crude oil daily. More »
Oil is rising as investors bet that the economies of many countries, including the U.S., will improve in the second half of the year, and global demand for petroleum will rise. More »
About 150 people showed up at an EPA meeting Wednesday night with questions about health risks, the duration of the cleanup, and whether the oil will permanently damage their livestock or property More »
Commodityworld™ is very much like The Rolling Stones, full of energy and gathering no moss. Seeing a recent picture of the Stones got me wondering about which commodity best represented each of them (welcome to my world…). Keith was easy to choose, but as for Mick I couldn’t get no satisfaction, well, you’ll see…here’s the wrinkled […] More »
Oil prices are above $98 a barrel today after an industry report showed U.S. crude supplies fell more than expected.
For airlines, more efficient jets will reduce their biggest expense. For passengers, it means fares won’t jump around as much with the price of oil.
Refinery utilization rates peaked in July or late June in four of the past five years, then declined as plants prepared for maintenance in September. Imports tumbled during the seven days ended June 24 to a 12-year low for the end of that month.
Crude had been rising since last week, nearly recovering from a late-June drop to around $90 a barrel following the announcement that the U.S. and other countries would release 60 million barrels of crude into world markets. Some investment banks said prices would head higher anyway as world supplies tightened later this year. By Wednesday investors were again focused on short-term concerns about the global economy. More »
Martin Midstream Partners is build a $25 million terminal to receive crude oil from the Eagle Ford shale via a recently announced pipeline.
Martin also will build storage for 300,000 barrels of crude oil and will have the ability to expand the terminal’s capacity by an additional 600,000 barrels. The terminal will be connected by a 24-inch pipeline to a barge dock and deep-water tanker dock at the port.
Conditions on the river have prevented a thorough assessment and hampered efforts to find the cause of Friday’s break in the 12-inch pipeline, which spilled an estimated 1,000 barrels of crude oil. The river was flowing too high and swiftly for crews to reach some oiled areas. More »