Oil Price Energy companies in Texas began restoring operations on Tuesday after some ports were shut and refineries reduced output ahead of hurricane Beryl, which made landfall on the U.S. Gulf Coast in Texas earlier this week. Early on Monday, Beryl, which at one point was the earliest Category 5 hurricane on record, made landfall in Texas, bringing heavy rains and
Yahoo Finance U.S. power consumption will rise to record highs in 2024 and 2025, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday. EIA projected power demand will rise to 4,099 billion kilowatt-hours (kWh) in 2024 and 4,128 billion kWh in 2025. That compares with 4,000 billion kWh in 2023 and a record
Oil Price Shares in BP fell by as much as four percent this morning after it warned it was expected to post an impairment of up to $2bn (1.6bn) and was operating under “significantly” lower refining margins. The FTSE 100 oil major, which in April surprised investors with a better-than-expected oil and gas trading performance in the first three months of
World Oil (WO) – Eni has made a new discovery on the Yopaat-1 EXP exploration well in Block 9, approximately 63 km off the coast in the mid-deep water of the Cuenca Salina in the Sureste basin offshore Mexico. The preliminary estimates indicate a discovered potential of around 300-400 MMboe of oil and associated gas in place. The well has
Investing NEW YORK (Reuters) -Oil prices eased on Tuesday after traders learned that prolonged supply disruptions from Hurricane Beryl were unlikely after a U.S. oil-producing hub in Texas suffered less storm damage than feared. Brent futures for September delivery fell 31 cents to $85.44 a barrel by 11:17 a.m. EDT (1517 GMT). U.S. crude fell 23 cents to $82.10 per barrel. Although some
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