US Gas Prices on Track for Highest Memorial Day Level in 4 Years
Gas prices at the pump rose about five cents a gallon last week, and prices are expected to keep rising through and beyond the coming Memorial Day holiday weekend.
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Gas Prices Rise, Summer Travel Plans Plunge
Rising gas prices are putting a crimp in Americans' plans for summer road trips. The number planning a road trip of is down by 24 percentage points compared to last year.
Crude Oil Pipeline Capacity Out of the Permian Basin Is Vanishing
Pipeline takeaway from the Permian Basin is vanishing as crude oil production grows by around 70,000 barrels a day. This forces producers to sell their crude at a sharp discount as they pay more…
Gas Prices Surge to $2.93 Nationwide
The average price for a gallon of gasoline nationwide has increased 24% in a year. It is too early to know whether $3 a gallon gasoline will curtail the plans of some people to…
US Oil Rig Count Unchanged This Week; Crude Price Down Slightly
The number of land-based rigs drilling for oil in the United States was unchanged this week. This is the first week in seven that the count has not increased.
What’s Behind Enbridge Offer for Spectra Energy Partners
Canadian midstream company Enbridge has made an offer to acquire the approximately 17% of gas pipeline company Spectra Energy in an all-stock deal. This is the second such deal in two days. What's going…
Demand for Electricity to Be Driven by Demand for Air Conditioning
A new report from the International Energy Agency calculates that demand for air conditioning will be a major driver of electricity demand growth over the next 30 years.
Cheniere Rolls Up Subsidiary for 1% Premium
Liquified natural gas supplier Cheniere Energy has acquired the remaining stake of about 8% that it did not already own in Cheniere Energy Holdings in an all-stock deal.
Natural Gas Price Steady Following Addition to US Supply
U.S. natural gas in storage increased by more than 100 billion cubic feet last week. Prices were little changed following the report from the U.S. Energy Information Administration.
Crude Oil Price Narrows Loss as Inventory Slides
The EIA reports that U.S. crude oil inventories fell by 1.4 million barrels last week and gasoline stockpiles fell by 3.8 million barrels. But production and exports continue rising, offsetting the inventory declines and…
Geopolitics Trumps Oil Market Fundamentals: IEA
The International Energy Agency this morning released its monthly report on the global oil market. The IEA is forecasting slightly lower demand for this year as rising prices begin to take their toll.
Why Jefferies May Be Wall Street’s Biggest Energy Bull
The top picks at Jefferies are based on a long-view bullish stance on the industry. These seven top companies are solid choices for long-term growth portfolios looking to add energy.
Oil Inventory Drops to 3-Year Low as Crude Moves Toward $80
The most recent IEA report on oil inventory around the world shows that levels are at a three-year low, which will compound the reason oil prices may continue to climb.
US Shale Oil Production to Rise 144,000 Barrels a Day in June
The U.S. Energy Information Administration released its Drilling Productivity report today showing an estimated production growth of 144,000 barrels of oil a day from the 7 major onshore shale oil plays.
US National Average Gasoline Price Jumps After US Ditches Iran Deal
The U.S. national average retail price for a gallon of gas rose by six cents last week, and the price in Ohio rose by 15 cents a gallon. Geopolitical factors and lower production from…