The risk of a direct military confrontation between the US and Russia over Syria has raised energy security concerns in Europe. Oil prices touched three-and-half year highs above $72 b/d after US President Donald Trump signaled a possible military response to alleged chemical weapons attacks near Damascus.
The US' declaration that the overnight missile strikes against Syria would be limited and a "one-time shot" may tamp down some of the risk to oil prices spiking when markets open Monday.
(Fri, 13 Apr 2018) Working natural gas in storage in the United States as of March 31, 2018, the end of the 2017â2018 heating season, totaled 1,351 billion cubic feet (Bcf), according to EIAâs estimate based on its Weekly Natural Gas Storage Report. This is the lowest level for U.S. working gas stocks at this time of year since March 31, 2014, when working gas stocks were much lower, at 837 Bcf following the 2013-2014 heating season
(Fri, 13 Apr 2018) Annual state-level estimates of consumption, prices, and expenditures for petroleum coke and other petroleum products for 2016. âOther petroleum productsâ is a category that comprises 11 products, including still gas, petrochemical feedstocks, and special napthas.
(Thu, 12 Apr 2018) EIA forecasts that drivers in the United States will pay an average of $2.74 per gallon (gal) this summer for regular gasoline, the highest average summer gasoline price in four years, according to EIA's <em>Short-Term Energy and Summer Fuels Outlook</em>. EIA's forecast gasoline price for summer 2018 (April through September) is 26 cents/gal higher than the average price last summer, largely reflecting changes in crude oil prices.
With President Donald Trump imposing tariffs on aluminum and steel imports last month, his taking a tougher stand on trade overall, and the US general economy growing at a healthy clip, several key commodity prices were considerably stronger on average through the end of March, compared with on January 19, 2017, the day before his inauguration.
(Wed, 11 Apr 2018) U.S. crude oil production in the Federal Gulf of Mexico (GOM) increased slightly in 2017, reaching 1.65 million b/d, the highest annual level on record. Although briefly hindered by platform outages and pipeline issues in December 2017, oil production in the GOM is expected to continue increasing in 2018 and 2019, based on forecasts in the EIAâs latest Short-Term Energy Outlook (STEO). EIA expects the GOM to account for 16% of total U.S. crude oil production in each year
(Tue, 10 Apr 2018) Two out of three of EIAâs measures of natural gas production in the United States set records in 2017. U.S. natural gas production measured as gross withdrawals reached 90.9 billion cubic feet per day (Bcf/d) in 2017, the highest volume on record according to EIAâs <em>Monthly Crude Oil, Lease Condensate, and Natural Gas Production Report</em>.
(Mon, 09 Apr 2018) Recent growth in U.S. crude oil production has been primarily light, sweet crude oil, defined as having an API gravity of 35 or higher and sulfur content of 0.3% or less. These light, sweet crudes, which are produced from tight resource formations, accounted for nearly 90% of the 3.1 million barrel per day (b/d) growth in production from 2010 to 2017.
(Mon, 09 Apr 2018) Iran holds the worldâs fourth-largest proved crude oil reserves and the worldâs second-largest natural gas reserves. Since the lifting of sanctions that targeted Iranâs oil sector, oil production has reached more than 3.8 million barrels per day in 2017. Iranâs natural gas activities are centered on the South Pars natural gas field, located offshore in the Persian Gulf, which holds roughly 40% of Iranâs proved natural gas reserves.
