WTI rebounded last week after the EIA said crude inventories slid from 399.4 million barrels, the highest level since weekly reports were published in 1982. Supplies expanded by 912,000 barrels in the seven days ended May 9, according to the API, which collects information on a voluntary basis from operators of refineries, bulk terminals and pipelines.
Wind energy supporters are hoping to blow past opponents in the Senate, as the chamber considers broad legislation to renew dozens of expired tax breaks — including one credited with making turbines spin in Texas.
The Interior Department’s BLM is counting on Congress to approve a budget request that would allow it to use $10 million raised from fees charged to oil and gas companies to pay for high-priority inspections.
Moody’s says U.S. companies building new natural gas pipelines are finding massive demand to carry supplies to liquefied natural gas terminals and gas-fired power generators in the south, as producers in the Marcellus Shale seek new outlets for huge supplies.
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