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A pipeline sign marks  the main U.S. oil pipeline and storage hub at Cushing, Oklahoma. (Bloomberg photo)

Inventory draw helps oil tick upward

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The U.S. Energy Information Administration said that oil inventories fell by 800,000 barrels to 502 million barrels in commercial storage.
API President Jack Gerard  (Bloomberg)

Oil industry throws support behind energy reform bill

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In a letter to Senate Majority Leader Mitch McConnell, R-Ky., American Petroleum Institute President Jack Gerard said Thursday his group “strongly supports” the legislation, named the Energy Policy Modernization Act.
The silhouettes of emissions are seen rising from stacks of the Duke Energy Corp. Gibson Station power plant at dusk in Owensville, Indiana, U.S., on Thursday, July 23, 2015. (Luke Sharrett/Bloomberg)

EPA extends deadline on air pollution data

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The agency is currently studying emission levels of what it terms “hazardous air pollutants,” a category that includes 187 compounds including benzene, a chemical found in gasoline.
NEW YORK, NY - JANUARY 04:  A trader works on the floor of the New York Stock Exchange during the morning of January 4, 2016 in New York City. Today marks the first day of trading for the New York Stock Exchange; the market dove over 400 points upon opening.  (Photo by Andrew Burton/Getty Images)

Brent crude tumbles nearly 5 percent

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Oil slumped before weekly U.S. government data forecast to show stockpiles rose in the world’s biggest crude consumer.
API President Jack Gerard  (Bloomberg)

Top oil lobbyist touts U.S. energy production, emissions reductions

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The head of the oil industry’s top lobbying group says the U.S. is an emerging global energy powerhouse, and can can grow even stronger if the federal government imposes fewer regulations.
Surging U.S. production in Texas' Eagle Ford Shale and elsewhere has flooded the global oil markets and cut prices in half, despite a small rise Friday.  ( Gary Coronado / Houston Chronicle )

Oil falls Wednesday as inventories rise

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Worries about the extra crude oil sent prices down $1.20 per barrel or 3.2 percent in early trading, leaving the benchmark U.S. price at $36.67 per barrel.
Categories: Crude oil
A lineman at the Houston Ship Channel. LNG company NextDecade is hoping to build an export facility in nearby Galveston to take advantage of the shipping lane. Photo by Lou Vest.

Here’s why the U.S. will export oil for first time in decades

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The lifting of the embargo is part of a spending deal expected to be pushed through the House and Senate by the end of the week.
(AP Photo/Eric Gay, File)

Natural gas, used to heat homes, plunges on mild weather

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Temperatures in Chicago, Detroit, New York and Washington have been as much as 25 degrees above normal in the past five days, according to AccuWeather.
(Eddie Seal/Bloomberg)

Commentary: More dialogue needed on BSEE well control rule

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By Erik Milito Safe, responsible energy development in the Gulf of Mexico and beyond is vital to the U.S. economy and job growth, as well as U.S. energy and national security. Joint efforts from the oil and natural gas industry and federal government have made great strides to enhance the safety of offshore operations in […]
Categories: Crude oil, Offshore
(JC Franca/Bloomberg News)

Fight over ethanol quotas heats up as U.S. nears final decision

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Representatives of the oil industry’s biggest trade group, the American Petroleum Institute, were scheduled to meet with White House officials Friday to argue that ethanol quotas should be kept below the current 10 percent threshold acceptable for use in all cars and trucks.