Energy Economy

Gas Prices Up 25% Since Last Memorial Day

At the start of the Memorial Day holiday weekend, the average price for a gallon of regular gasoline in the United States is $2.97. That's 25% higher than last year's ...
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US Oil Rig Count Soars This Week, Crude Price Plunges

In the week ended May 25, 2018, the number of land rigs drilling for oil in the United States totaled 859, up by 15 compared to the previous week and ...
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Natural Gas Price Ticks Higher on Inventory Rise

The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stocks increased by 91 billion cubic feet for the week ending May 18. Analysts were expecting a ...
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New Car Buyers Aren’t Worried About Gas Prices–Yet

When U.S. drivers are asked to name a "reasonable" price for a gallon of regular gas, the median price named is $2.50. When asked what price would "greatly" affect the ...
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Crude Oil Price Falls on Huge Inventory Increase

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning, showing that U.S. commercial crude inventories increased by 5.8 million barrels last week, maintaining a total ...
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US Gas Prices on Track for Highest Memorial Day Level in 4 Years

The average U.S. price for a gallon of regular gasoline rose by nearly five cents last week to start the new week at $2.93, according to the latest data from ...
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Gas Prices Rise, Summer Travel Plans Plunge

You already know you're paying more for gas at the pump. What you want to know is when the price hikes will stop. For the immediate future, the answer is ...
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Gas Prices Surge to $2.93 Nationwide

The average price for a gallon of gasoline nationwide has reached $2.93. That is a 24% increase in a year. With Memorial Day marking the start of the heavy driving ...
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US Oil Rig Count Unchanged This Week; Crude Price Down Slightly

In the week ended May 18, 2018, the number of land rigs drilling for oil in the United States totaled 844, unchanged compared to the previous week and 124 more ...
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Demand for Electricity to Be Driven by Demand for Air Conditioning

Between now and 2050, global demand for air conditioners in buildings will rise from 1.6 billion to 5.6 billion. That means that 10 new AC units will be sold every ...
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Natural Gas Price Steady Following Addition to US Supply

The U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stocks increased by 106 billion cubic feet for the week ending May 11. Analysts were expecting a ...
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Crude Oil Price Narrows Loss as Inventory Slides

The U.S. Energy Information Administration (EIA) released its weekly petroleum status report Wednesday morning showing that U.S. commercial crude inventories decreased by 1.4 million barrels last week, maintaining a total ...
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Geopolitics Trumps Oil Market Fundamentals: IEA

In its monthly Oil Market Report for May released Wednesday morning, the International Energy Agency (IEA) said that global crude supplies held steady in April at roughly 98 million barrels ...
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Oil Inventory Drops to 3-Year Low as Crude Moves Toward $80

The International Energy Agency (IEA) released its most recent report on oil inventory around the world. It found that levels are at a three-year low. This will compound the reason ...
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US Shale Oil Production to Rise 144,000 Barrels a Day in June

Between June of 2017 and June of 2018, U.S. crude oil production from seven major shale regions is forecast to rise by 1.78 million barrels of oil per day to ...
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