Oil and Gas Prices
News
November 23, 2021
President Joe Biden’s effort to tame pump prices by tapping government oil stockpiles could backfire for one simple reason: American gasoline prices more closely track international, rather than U.S., oil benchmarks.
News
November 23, 2021
American consumers can expect a small break in gasoline prices from President Joe Biden’s decision to tap the nation’s oil reserves, though the move risks falling short for voters already bristling at his handling of the highest rate of inflation in decades.
News
November 23, 2021
After many weeks of signaling and speculation, a group of major oil consumers including the U.S. has announced a coordinated plan to tackle soaring energy costs by releasing crude from strategic reserves. The question now is whether it’s going to work.
News
November 23, 2021
The Biden administration’s unprecedented, coordinated attempt to tame oil prices by authorizing one of the biggest ever draw-downs of U.S. crude reserves has elicited a collective shrug from the oil industry.
News
November 23, 2021
European natural gas futures rose on Tuesday after the U.S. imposed its latest sanctions aimed at Russia’s Nord Stream 2 pipeline, a move the Kremlin says is “illegal.”
News
November 23, 2021
A House Democrat who’s urging the White House to reduce oil prices by banning exports of U.S. crude oil says he’s been told the idea is under consideration.
News
November 23, 2021
Oil prices recovered earlier declines as the U.S. and other consuming nations announced a landmark move to tap their strategic reserves.
News
November 23, 2021
The U.S. will release 50 million barrels of crude from its strategic reserves in concert with China, Japan, India and South Korea and the UK -- an unprecedented, coordinated attempt by the world’s largest oil consumers to tame prices that could prompt a backlash by OPEC+.
News
November 22, 2021
Oil advanced amid speculation that OPEC and its allies may not add as much supply to the market as previously planned if the U.S. releases crude reserves in coordination with other nations.
News
November 22, 2021
President Joe Biden is preparing to announce a release of oil from the nation’s Strategic Petroleum Reserve in concert with several other countries as soon as Tuesday, according to people familiar with the plan.
News
November 22, 2021
OPEC and its allies may re-evaluate plans for reviving oil supplies if the world’s four largest consuming countries go ahead with a coordinated release of their strategic petroleum reserves.
News
November 19, 2021
Oil was on track to post its biggest weekly drop since August as Europe’s worsening Covid-19 crisis renewed the prospect of lockdowns just as key consuming nations look to add emergency supply to the market.
News
November 19, 2021
Commenting on the passage of the bill, American Petroleum Institute President and CEO Mike Sommers said “At a time when energy prices have risen alongside broader economy-wide inflation, the House reconciliation bill would only exacerbate the challenges facing Americans."
News
November 19, 2021
The White House’s push for releases of oil from national reserves is already fully priced into the market following the drop in crude prices in recent weeks, according to Goldman Sachs Group Inc.
News
November 18, 2021
In its November Short-Term Energy Outlook, the U.S. Energy Information Administration forecasts that rising production from OPEC+ countries and the United States will lead to global liquid fuels inventories increasing and crude oil prices falling in 2022.
News
November 18, 2021
China is releasing some oil from its strategic reserves days after the U.S. invited it to participate in a joint sale, suggesting the world’s two biggest oil consumers are willing to work together to keep a lid on energy costs.
News
November 18, 2021
Some U.S. lawmakers are seizing on the energy price surge to revive long-standing legislation that would subject the OPEC oil cartel to the same antitrust laws used more than century ago to break up Standard Oil’s monopoly.
News
November 17, 2021
Oil tumbled to the lowest in nearly six weeks as investors considered the prospect of a release of crude supplies from strategic reserves.
News
November 17, 2021
President Joe Biden urged the Federal Trade Commission to probe possible illegal conduct in U.S. gasoline markets, though any inquiry by the agency is unlikely to have an immediate impact on pump prices paid by consumers.
News
November 17, 2021
The oil market is about to swing into a healthy supply surplus, if the world's big international energy forecasters are to be believed.
News
November 17, 2021
President Joe Biden has been weighing the merits of releasing oil from the Strategic Petroleum Reserve to try to quell gasoline prices. A release by China was raised by the U.S. during this week’s virtual summit with President Xi Jinping, the South China Morning Post reported, citing an unidentified person.
