You know your going to have a bad day when you wake up with a tank in your front yard U.S. President Joe Biden outlined a series of steps the White House is taking to reduce high prices at the pump. The U.S. President called on Congress on Thursday to make American oil companies pay …
Continue reading “Biden’s Latest Plan To Curb Soaring Gasoline Prices Angers Drillers”
* U.S. 2/10 yield curve flattest in more than two years * Other parts of Treasury yield curve are also inverted * U.S. 2/10 OIS curve is also inverted *The 5 year to 30 year yield cure inserted for the first time since 2006……… The U.S. Treasury yield curve, as measured by the gap between …
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(Bloomberg) — The Biden administration’s mammoth drawdown of the Strategic Petroleum Reserve depends on an aging network of pipelines and oil storage tanks with a problematic past.The reserve, the world’s largest emergency supply, was created in the aftermath of the Arab oil embargo of the early 1970s, but its distribution system was designed with a …
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(Reuters) – Russia’s Gazprombank on Thursday said it would provide conditions to allow convenient payments for Russian gas in roubles, Tass news agency said. Gazprombank told Tass it has the right technology and experience to quickly and expertly fulfill a state order to switch to roubles for gas payments which President Vladimir Putin signed earlier …
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BERLIN/LONDON (Reuters) – Russian President Vladimir Putin is demanding foreign buyers pay for Russian gas in roubles from Friday or else have their supplies cut, a move European capitals rejected and which Berlin said amounted to “blackmail”. Putin’s move, via a decree signed on Thursday, leaves Europe facing the prospect of losing more than a …
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Russian energy giant Gazprom is looking at options for halting gas supplies to so-called “unfriendly” countries. That’s according to a report in Russia’s Kommersant newspaper. It says Gazprom is evaluating the consequences of a complete stoppage. The news comes after President Vladimir Putin said “unfriendly” nations would soon have to pay for gas in roubles. …
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Russian forces are deliberately trying to damage Ukraine’s agriculture sector, a main source of income, President Volodymyr Zelensky told Dutch lawmakers. Troops have placed landmines in fields and agricultural equipment has been destroyed, he said. Russians are “doing everything to ruin our agriculture potential and to provoke a food crisis not only in Ukraine but …
Oil prices slumped early Thursday, as traders absorbed reports that the U.S. is planning a hefty release of crude reserves, hours ahead of an OPEC+ meeting outcome WASHINGTON — President Joe Biden is preparing to order the release of up to 1 million barrels of oil per day from the nation’s strategic petroleum reserve, according …
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The Biden Administration appears not to plan to hold any lease sales for offshore oil and gas areas in the Gulf of Mexico, according to a draft budget proposal analyzed by Bloomberg. In the budget plan for the fiscal year 2023, the U.S. Administration expects oil and gas rents and bonuses of just $25 million …
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U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.4 million barrels from the previous week. At 409.9 million barrels, U.S. crude oil inventories are about 14% below the five year average for this time of year. Total motor gasoline inventories increased by 0.8 million barrels last week and …
Continue reading “EIA Weekly Petroleum Data for the week ending March 25”