Oil drops on concerns of glut in refined products
Oil dropped on Monday as signs of a growing glut in refined products outweighed a fall in Saudi crude exports and slower U.S. rig activity.
Energy
California Sets Renewable Energy Record: Solar Power Surges, Exceeds 100% Grid Demand for 30 Days Straight
California achieves a historic feat, powering the grid with 100% renewable energy for 30 consecutive days, signaling progress towards ambitious clean energy goals.
Biden Administration Permits Over 25GW of Clean Energy on Public Lands, Surpassing 2025 Renewable Energy Goal
This milestone aligns with President Biden's goal to make the US power grid carbon pollution-free by 2035, a key initiative in combating climate change and securing energy resources...
Russia Destroys Ukraine's Largest Power Plant After Launching Widespread Attacks on Energy Grid
A devastating series of Russia's overnight strikes has left the Trypilska thermal power plant in ruins, dealing a severe blow to Ukraine...
Oklahoma Claims Natural Gas Firms Cut Supplies to Raise Prices During Winter Storm Uri: Lawsuit
Oklahoma sued two Texas natural gas companies for purposefully reducing gas supply during Winter Storm Uri in 2021, raising prices and making huge profits...
Biden Admin Unveils Final Tailpipe Pollution Rules, Slowing EV Transition Until 2030
Biden admin adjusts EV targets to 35%, balancing industry concerns. EP...
Argentina's Economy Minister Issues Warning Over Fuel Shortages: Export Restrictions Loom
Sergio Massa, Argentina's Economy Minister and presidential candidate,...
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Mexico auctions oil blocks to increase production but failed to attract giant international companies
Mexico kicked out foreign companies 77 years ago, but just last Wednesday the tables seem to turn as its government auctioned 14 exploration blocks to attract international energy companies, which wil
Amazon builds first wind farm in North Carolina; 208 MW renewable energy facility is expected to produce 670,000 MWH yearly
Amazon Inc., through its subsidiary Amazon Web Services (AWS), will be building a 208 megawatt wind farm in North Carolina. The wind farm will be built and jointly operated by AWS and Iberdrola Renewa
WPX Energy to enter Permian basin with $2.35 billion deal
Oil and gas producer WPX Energy Inc (WPX.N) said it would acquire privately held RKI Exploration & Production LLC [REPI.UL] for $2.35 billion, the latest in a series of deals brought on by a steep dro
Crude slides as Iran clinches historic nuclear deal
Oil dropped on Tuesday after Iran and six global powers reached a landmark nuclear deal that would see an easing of sanctions against Tehran and a gradual increase in its oil exports.
U.S. crude falls more than 1 percent on surprise stockpile build
U.S. crude futures fell more than 1 percent on Wednesday after a surprise build in stockpiles while gasoline rallied on bets for strong fuel demand through the peak summer driving season.
U.S. crude slump cools, market awaits inventory data
U.S. crude oil futures steadied on Tuesday after falling sharply a day earlier on worries about Greece's indebtedness and China's stock market losses, although charts indicated renewed selling could p
Oil crashes 8 percent as Greek vote, Iran talks set off exodus
Oil prices suffered their biggest selloff in five months on Monday, falling as much as 8 percent as Greece's rejection of debt bailout terms and China's stock market woes set off a deepening spiral of
Oil slides in thin trade on rising U.S. rig count
Oil prices dropped on Friday as a rising U.S. rig count stoked more concerns about global oversupply while an investigation by Chinese regulators into suspected stock market manipulation further unset
U.S. light oil exports double in May, mostly to Europe
U.S. exports of ultra-light crude, also known as condensate, have doubled since the start of the year, with most shipments headed to Europe, according to traders familiar with the deals and data from
