Summary of Weekly Petroleum Data for the week ending November 8, 2024 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.1 million barrels from the previous week. At 429.7 million barrels, U.S. crude oil inventories are about 4% below the five year average for this time of year. …
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Iran has reportedly chosen to delay its response to last month’s Israeli airstrike on Tehran, Israeli officials told Kan correspondent Amichai Stein on Wednesday. Rumors that Tehran may hold off on retaliation to Israel’s attack come following Republican Donald Trump’s re-election, with American media reporting that the president-elect intends to continue his “maximum pressure” strategy toward Iran. Previously, Iran warned that the …
Overview 2022 2023 2024 2025 Note: Values in this table are rounded and may not match values in other tables in this report. Brent crude oil (dollars per barrel) 101 82 81 76 Gasoline retail price (dollars per gallon) 4.00 3.50 3.30 3.20 U.S. crude oil production (million barrels per day) 12.0 12.9 13.2 13.5 …
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Special Counsel Jack Smith is set to step down before United States President-elect Donald Trump takes office, the New York Times reported on Wednesday, citing people familiar with the matter. Smith is the prosecutor leading the federal inquiries into accusations of election meddling and the mishandling of confidential documents by Trump following the end of his presidency. He has already …
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Iran’s Oil Minister Mohsen Paknejad stated Wednesday that Tehran is prepared for any potential oil export restrictions following the reelection of Donald Trump, who will begin his second term in January 2025. Speaking to local journalists, Paknejad emphasized that, regardless of Trump’s return to office, Iran’s oil sales will remain unaffected. He said that the …
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WASHINGTON (AP) — President-elect Donald Trump stunned the Pentagon and the broader defense world by nominating Fox News host Pete Hegseth to serve as his defense secretary, tapping someone largely inexperienced and untested on the global stage to take over the world’s largest and most powerful military. The news was met with bewilderment and worry among …
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China’s weak oil demand has already thrown OPEC+ off track in its supply-management policies. Trump’s energy policies could create a new challenge for OPEC in 2025. Amidst further uncertainties about global oil supply and demand with President Trump, OPEC+ may have to tweak their production policy more often than they have intended. The OPEC+ group …
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President-elect Donald Trump is nominating former Arkansas Governor Mike Huckabee to be the US ambassador to Israel. Trump announced the selections on Tuesday, praising Huckabee as someone who “loves Israel, and the people of Israel” and saying he would “work tirelessly to bring about Peace in the Middle East.” Huckabee is a prominent religious …
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President-elect Donald Trump is preparing an executive order to establish a “warrior board” tasked with purging high-ranking generals and admirals deemed unfit for leadership, The Wall Street Journal reported on Tuesday, citing a draft reviewed by the newspaper. According to the report, the board of retired military officers would have the authority to review and …
Hegseth is an Army veteran of Iraq, Afghanistan and an author Trump’s choice to lead the Defense Department was unexpected Donald Trump is nominating Pete Hegseth, host of Fox News Channel’s weekend morning program and an Army National Guard officer, as his defense secretary, the president-elect said in a statement on Tuesday evening, putting another …
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