US oil reserve hits 44-year-low amid Iran war, global energy shortage
The reserve fell below the operational minimum as U.S. officials used releases to offset war-related supply disruptions and refinery tightness, DOE data showed.
36 Articles
36 Articles
America Tapped Its Emergency Oil Reserve Just Four Times Before This War, and Never Like This: The Biggest Release in Its History
The Strategic Petroleum Reserve fell by more than three million barrels last week to its lowest level in more than four decades. U.S.-Iran strikes pushed Brent to its highest since late July, Saudi Arabia blamed Iran for the attack on its tanker Sidr, and Wright said Monday's Hormuz flows were the highest since the war.
The oil stocks fell to 4.45 million barrels, to 424,460 million, in the week closed last Friday (28), reported the Department of Energy (DoE) of the United States, recently. The result represented a larger drop than expected by a group of analysts, which was 300 thousand. The gasoline stocks fell to 1,173 million barrels last week, to 205,669 million barrels, before expecting a fall of 1.7 million. Distillate stocks rose to 104,187 million barre…
Oil reserve measure filed in Senate - BusinessWorld Online
SENATOR Lorna Regina B. Legarda has filed a bill authorizing the government to perform measures preventing energy market abuse by allowing the Department of Energy (DoE) to examine fuel inventories and prescribe temporary pricing during fuel emergencies. “Monitoring is different from regulating. In normal times, the DoE must know the true state of supply, costs, […]
The US oil reserve continues to shrink. Trump encounters legal and technical limits when additional approvals are made, while Venezuela's oil can hardly help in the short term.
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