Energy Economy

Oil Barrels

Crude Oil Price Plunges on Surprise Inventory Growth

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories increased by 1.7 million barrels last week, maintaining a total U.S. commercial ...
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Offshore Drilling Rig

World Bank Raises Oil Price Forecast to $43

The price of oil is about $43, and the World Bank expects it to stay there for the rest of the year. The decision is based on both supply and ...
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Gas Can

Gas Prices Near $3 in Some California Cities

As the price of oil lurches between $40 and $45, depending on rumors from the Middle East, Nigeria and the United States, the price of a regular gallon of gasoline ...
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fracking

Oil Rig Count Up by 14 Last Week, Hedge Funds Thinking Short Again

In the week ended July 22, the number of rigs drilling for oil in the United States totaled 371, up by 14 compared with the prior week and a total ...
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Blue Flame

Natural Gas Price Up on Hot Weather Forecast, Low Inventory Build

The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stocks increased by 34 billion cubic feet for the week ending July 15. Analysts were expecting a ...
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ThinkstockPhotos-179077153

US Ranks Behind China in Energy Efficiency

Among the 23 nations that consume 75% of the world's energy and generate more than 80% of global gross domestic product, Germany ranks at the top for energy efficiency, followed ...
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Oil Barrels

Crude Oil Price Bounces Despite Addition to Gasoline Stockpiles

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories decreased by 2.3 million barrels last week, maintaining a total U.S. commercial ...
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fracking

Oil Rig Count Up by 6 Last Week, Hedge Funds Turn Long on Crude, Distillates

In the week ended July 15, the number of rigs drilling for oil in the United States totaled 357, up by six compared with the prior week and a total of ...
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ThinkstockPhotos-488849483

Natural Gas Price Inches Higher Following Storage Report

The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stocks increased by 64 billion cubic feet for the week ending July 8. Analysts were expecting a ...
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Oil Barrels

Crude Oil Price Plummets on Big Jump in Gasoline Stockpile

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning. U.S. commercial crude inventories decreased by 2.5 million barrels last week, maintaining a total U.S. commercial ...
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oil tanks

EIA Outlook: Crude Prices Up, Gasoline Prices Down

The U.S. Energy Information Administration (EIA) on Tuesday released the latest update to its Short-Term Energy Outlook (STEO). The agency lowered its average summer driving season price for a gallon ...
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Oil pumps

High-Yield Bond Defaults Top $50 Billion to Date in 2016

The default rate on U.S. high-yield bonds rose to 4.9% in the first half of 2016, with a total value of $50.2 billion. In all of 2015, the total value ...
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OPEC

OPEC Forecasts Higher Crude Oil Demand in 2017

In its Monthly Oil Market Report for July, released Tuesday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that the cartel's price for its reference basket rose by ...
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Petrol pump

13 American Gas Locations Have Prices Above $4

National average pump prices for gasoline have been dropping for the past month, but an average may be less eye-catching than a range. The national average price for a gallon ...
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OPEC

OPEC June Output Surges to 8-Year High

The Organization of the Petroleum Exporting Countries (OPEC) is scheduled to release its Monthly Oil Market report on Tuesday, July 12. Analysts at Platts provided a preview on Monday, reporting ...
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