World Oil (Bloomberg) – A federal judge halted Joe Biden’s temporary moratorium on new licenses for exports of U.S. liquefied natural gas (LNG), though the decision is unlikely to immediately jump start approvals. U.S. District Judge James D. Cain Jr. in Louisiana issued a preliminary injunction Monday in a lawsuit filed by 16 states, which argued Biden violated federal law
Oil Price Crude oil inventories in the United States fell by 9.163 million barrels for the week ending June 28, according to The American Petroleum Institute (API), after analysts had expected a 150,000 barrel draw. For the week prior, the API reported a 914,000 barrel build in crude inventories. On Tuesday, the Department of Energy (DoE) reported that crude oil
World Oil (Bloomberg) – OPEC’s crude production remained steady for a third month, while some key members continued to pump above agreed limits. OPEC produced an average of 26.98 MMbpd in June, or 80,000 bpd less than during the previous month, according to a Bloomberg survey. Small reductions in Iraq and Nigeria drove the decline. The survey showed that Iraq
Oil Price Venezuela’s president, Nicolas, Maduro, has accepted a U.S. proposal for a new round of talks on local policies and the future of U.S. oil sanctions on Caracas. “I have received the proposal during two continuous months from the United States government to reestablish talks and direct dialogue,” Maduro said on Venezuelan television, as quoted by the Associated Press “After thinking
CNBC U.S. crude oil on Tuesday hovered at a two-month high as worries grow that Israel and the Iran-backed militia Hezbollah could go to war, and Hurricane Beryl could impact Gulf Coast refineries. As oil has rallied in recent days, gasoline prices have hit a $3.50 per gallon average ahead of the Fourth of July holiday, according to the motorist
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