Yahoo Finance HOUSTON -Oil prices rose about 2% on Monday on concerns over global energy supplies following a Ukrainian drone strike on Russia’s Novatek fuel terminal and as extreme cold weather continued to hamper U.S. crude production. Brent March crude futures settled at $80.06 a barrel, up $1.50, or 1.9%. Front-month U.S. West Texas Intermediate crude futures contract (WTI) for
EIA Tropical Storms Marco and Laura are in or approaching the U.S. Gulf Coast region, home to key U.S. energy infrastructure, and several wildfires are affecting large areas of California and Colorado. Both the storms and fires could affect local energy supply and demand, especially for transportation fuels and electricity. The U.S. Energy Information Administration’s (EIA) Energy Disruptions map shows storm and
EIA Recent business shutdowns and changes to normal routines related to mitigation efforts for the 2019 novel coronavirus disease (COVID-19) have caused daily weekday electricity demand in the central region of the United States to decrease by 9%–13% in March and April compared with expected demand, after accounting for seasonal temperature changes. This decrease is similar to declines seen in New
EIA On Monday, April 20, 2020, New York Mercantile Exchange (NYMEX) West Texas Intermediate (WTI) crude oil front-month futures prices fell below zero dollars per barrel (b)—at one point, trading at -$40.32/b (Figure 1)—and remained below zero for part of the following trading day. Monday marked the first time the price for the WTI futures contract fell below zero since
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