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2 mins read
Over 5 million barrels of US reserve oil were exported to Asia and Europe last month as domestic refineries run at full capacity, report says
The exports follow similar shipments of Strategic Petroleum Reserve crude in April, when three ship…
Brian Evans
3 mins read
Biden's latest plan to try to bring gas prices down: Releasing 1 million barrels of oil a day from the government's stockpile for 6 months
The release could lower prices by "10 cents to 35 cents a gallon," President Biden said Thursday, a…
Ben Winck
2 mins read
Biden announces that the US and 30 other countries will release 60 million barrels of oil to cool surging prices
The move comes as US gas prices sit at 8-year highs and sanctions against Russia raise concerns abo…
Ben Winck
2 mins read
Global shares rise as slide in oil prices soothes some inflation fears, while bond yields retreat
The US has approached big energy consumers about coordinating a release of strategic crude stockpil…
Amanda Cooper
1 min read
The US is refilling strategic oil reserves as fast as it can amid lower prices, but there are physical limits, Energy Department official says
"We are refilling as much as we can. We've been doing that for the last several months. And at this…
Aruni Soni
1 min read
Here's how much oil the US is buying to refill the depleted emergency reserve
The Energy Department issued a solicitation for 3 million barrels of oil for March 2024, as emergen…
Filip De Mott
2 mins read
The Strategic Petroleum Reserve 'would be harder to use,' and the only buffer for oil markets is Middle East production, energy expert says
The Strategic Petroleum Reserve currently sits at 40-year lows at 351 million barrels, according to…
Aruni Soni
2 mins read
Oil prices are surging again, but this time Biden has way less ammunition to bring them down
Last year, the Biden administration drained 180 million barrels from the Strategic Petroleum Reserv…
Jason Ma
1 min read
The US is 'playing with fire' as oil reserves plunge to a 40-year low, markets guru Larry McDonald says
Falling oil inventories put America's energy security at risk, potentially making the country more …
Zahra Tayeb
2 mins read
Sales of apartments in top 7 cities may rise 20 pc to 2.6 lakh units this year: Report
Sales of apartments across seven major cities are estimated to rise by 20 per cent to around 2.6 la…
PTI
1 min read
More oil releases from the US Strategic Petroleum Reserve won't 'rock the boat', says UAE's energy minister
Ensuring global energy markets are balanced is more of a concern to Suhail Al Mazrouei, who told Bl…
Brian Evans
3 mins read
The Israel-Hamas clash threatens to hit stocks, fuel inflation, and boost recession risks. Here's what 6 experts have said about the conflict.
Billionaire investor Bill Ackman blamed US foreign-policy failures for the brutal conflict, while C…
Theron Mohamed
1 min read
CHART OF THE DAY: US crude oil tops $90 a barrel for the first time in 10 months
The steady grind higher for oil prices will put upside pressure on inflation, and that could force …
Matthew Fox
2 mins read
Joe Biden is running out of ammunition to fight the next oil crisis
"To allow this drawdown to take place has put undue stress on American resources and limits our abi…
Brian Evans
2 mins read
Oil prices slide as the US says it will sell millions more barrels of oil from its strategic reserve into the global market
WTI oil prices fell below $80 a barrel. The US plans to sell sweet crude from two storage sites sta…
Carla Mozée
2 mins read
Goldman Sachs slashes its oil price target as banking fiasco boosts recession fears
Goldman said slower economic growth could materialize in the aftermath of the Silicon Valley Bank c…
Matthew Fox
1 min read
It could take years for the US to refill its emergency oil reserves after last year's record sales
The US energy secretary said maintenance costs at the Strategic Petroleum Reserve as well as last y…
Zahra Tayeb
1 min read
The oil market is worried Biden could release another 100 million barrels of crude from strategic reserves, analyst says
The SPR is "absolutely being used to keep prices lower even though that's not what it's meant to be…
Brian Evans
2 mins read
Biden is set to release 14 million barrels of oil from US emergency reserves to keep a lid on gas prices, report says
The White House is set to release 14 million barrels of oil from the US emergency reserve in a bid …
Zahra Tayeb
1 min read
The US made $4 billion selling oil this year on President Biden's unprecedented releases from the Strategic Petroleum Reserve
Sales from the Strategic Petroleum Reserve total 180 million barrels at an average of $96.25 per ba…