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EIA

An oil tanker navigates the Houston Ship Channel in Houston, Texas. (Carter Smith/ Bloomberg News file photo)

Government report: Gasoline prices won’t climb if U.S. exports its oil

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The EIA analysis also throws some cold water on the entire pro-export crusade, suggesting that widely selling U.S. crude abroad would do little to boost either domestic oil prices or production.
(AP Photo/Charles Rex Arbogast, File)

EIA revises US oil production estimates lower; June output sank

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The federal government believes daily U.S. crude production fell to 9.3 million barrels in June, down by 100,000 barrels in the prior month, as low oil prices continue to discourage drilling.
In this Sept. 16, 2004 file photo, waves crash against a sailboat lodged under a bridge in Fort Walton Beach, Fla., after Hurricane Ivan struck the gulf coast. Federal regulators believe a persistent oil spill in the Gulf of Mexico that began after a drilling platform was toppled during Hurricane Ivan in 2004 will continue for 100 years or more if left unchecked. (AP Photo/John Bazemore, File)

Shale boom has made U.S. oil production less vulnerable to hurricanes

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Hurricanes no longer pose as much of a threat to domestic production as they once did since the shale boom reduced the United States’ reliance on oil and gas extracted offshore, according to a new federal analysis.
Over thirty oil drilling rigs are idle in a Helmerich & Payne, Inc. yard along Groening Street in Odessa, Texas, as rig counts drop in the Permian Basin, Monday, May 18, 2015. (Courtney Sacco/Odessa American via AP)

Drillers added just one oil rig this week

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The Baker Hughes rig count, considered a proxy for oil field activity, showed rigs drilling for oil increasing from 674 last week to 675 this week.
Ecuador's President Rafael Correa delivers a speech in Quito, Ecuador, Thursday, Aug. 13, 2015. (AP Photo/Dolores Ochoa)

Ecuador reveals the pain inside OPEC: It’s pumping oil at a loss

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President Rafael Correa said on Tuesday that the South American nation is receiving as little as $30 a barrel for its crude, while production costs average about $39.
Pipelines run toward oil storage tanks stand at the Enbridge Inc. Cushing storage terminal in Cushing, Oklahoma, U.S., on Wednesday, March 25, 2015. (Daniel Acker/Bloomberg)

Oil closes lower as global fears outweigh inventory draw

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The U.S. Energy Information Administration said that the amount of oil in U.S. tanks fell by 5.5 million barrels last week.

Stabilizing markets overnight give way to a midweek crude move higher

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After last week’s EIA inventory report yielded a lower refining/higher imports-sponsored build to crude stocks, last night’s 7.3 million barrel drop from the API report is indicating we should see a fairly hefty draw from the EIA this morning. After last night’s last-minute sell-off in US equities, risk appetite has picked itself up again and […]
Categories: Gasoline
(Lucas Schifres/Bloomberg)

Low natural gas prices this summer set to linger into winter

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The result of increased production has been a stalemate between demand and supply in 2015 — natural gas prices today are about 5 percent lower than they were on Jan. 1.
Pipelines at the LOOP Oil storage hub.

Rising inventories knock U.S. oil below $41 per barrel

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The U.S. benchmark crude price fell as much as $1.71 to $40.91 per barrel on the New York Stock Exchange, its lowest point in intraday trading since 2009. It’s also 96 cents below this year’s lowest settlement.
Foundation jackets and a deck are seen on a barge near a construction crane before their installation on Deepwater Wind, the nation's first offshore wind farm, Monday, July 27, 2015, on the waters of the Atlantic Ocean Off Block Island, R.I. Deepwater Wind will consist of five turbines producing a total of 30 megawatts of electricity. (AP Photo/Stephan Savoia)

U.S. lags Europe on offshore wind efforts

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Rhode Island-based Deepwater Wind reached its first “steel in the water” milestone in the early construction phase of its Block Island Wind Farm at the end of July, and the company has some other projects planned offshore of the Atlantic coast.