Monday, July 15, 2024

Midwest News

U.S. Oil Futures Plumb Historic Sub-Zero Lows, Brent Plunges

Oil price drop - Illustration by Corona Borealis/AdobeStock

U.S. oil futures continued to trade in negative territory on Tuesday, after closing down nearly $40 on Monday in their first-ever sub-zero dive, as concerns grew the United…

TC Energy: North Dakota Spill Shutters Keystone pipeline

AdobeStock / © Maksym Yemelyanov

Oct 30 (Reuters) - TC Energy Corp said on Wednesday it is shutting its Keystone crude pipeline after a late Tuesday oil spill in North Dakota.The company said it detected a…

Big Corn, Big Oil Unhappy with Fed's Biofuel Plan

File Image: an Ethanol Processing Plant (AdobeStock / © Jason Lee)

Corn farmers, ethanol producers, refinery representatives, energy traders and state and local officials from the Midwest all blasted away at the Trump administration's proposed…

US Oil Production Up, Needs More Pipelines

The rising domestic crude oil production in the United States has created a need for more pipeline capacity, revealed the US Energy Information Administration (EIA).EIA recently…

U.S. Crude Stocks Rise Unexpectedly - EIA

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U.S. crude oil inventories rose unexpectedly last week, hitting their highest levels since July 2017, due to weak refinery output, particularly in the Midwest, the Energy Information…

Sempra Names Bilicic Group President

(Photo: Sempra Energy)

Sempra Energy on Monday announced that George W. Bilicic has been named group president, effective upon completion of his service at Lazard later this year. Bilicic will lead the company's strategy…

Trump, Saudi Arabia at Odds Over Oil Price

(File photo: Official White House photo by Shealah Craighead)

U.S. President Donald Trump and the Saudi government have closely aligned views on most issues but they disagree significantly on the desirable level for oil prices, which could…

US Natural Gas Demand Nears Record High

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U.S. homes and businesses will likely use record amounts of natural gas for heating on Wednesday as an Arctic-like freeze blankets the eastern half of the country, according…

U.S. Crude Stocks Fall in Latest Week -EIA

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U.S. crude stocks fell last week, while gasoline stocks increased and distillate inventories fell, the Energy Information Administration (EIA) said on Wednesday.Crude inventories fell by 497…

U.S. Crude Stockpiles Rise More than Forecast - EIA

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U.S. crude oil stockpiles rose more than expected last week, building for the ninth consecutive week, while gasoline and distillate inventories fell, the Energy Information…

US Judge Halts Keystone XL Oil Pipeline

Photo: TransCanada Corp

A U.S. judge in Montana has halted construction of the Keystone XL pipeline designed to carry heavy crude oil from Canada to the United States, drawing a sharp rebuke on Friday…

Enbridge to Put More of Ohio TEAL Natgas Pipe Into Service

© Denys Prykhodov / Photo: Adobe Stock

Canadian energy company Enbridge Inc on Wednesday sought permission from U.S. energy regulators to put the remaining part of its Texas Eastern Appalachian Lease (TEAL) Phase…

Texas Waha Natgas Prices Dive 60 pct to Record Low on Pipeline Constraints

Photo: Kinder Morgan

Next-day natural gas prices for Thursday at the Waha hub in the Permian basin tumbled 60 percent to their lowest on record due to pipeline constraints limiting the amount of…

U.S. Oil Boom Starts to Cool, Tightening Global Market: Kemp

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U.S. oil production is running into capacity constraints, which are starting to have a material impact on the global availability of crude, causing the market to tighten and…

Canada Crude Differential Seen Staying High as Refiners Take Downtime

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The discount on Canada's heavy crude, which reached a nearly five-year high this week, looks to remain elevated with pipelines strained and the refiners who buy it going offline for maintenance…

EPA Scraps Plan to Force US Refiners to Blend More Biofuels

© Jose Manuel Yañez Rodriguez / Adobe Stock

The U.S. Environmental Protection Agency ditched a detailed plan that would have forced refiners to blend more biofuels into their gasoline and diesel in 2019 to compensate…

Leach Xpress Pipeline Service Delayed until Mid-July

File Image (CREDIT: AdobeStock / © Berkut 34)

TransCanada Corp's Columbia Gas Transmission unit pushed back the date of its Leach Xpress natural gas pipeline in West Virginia. Service will be resumed mid-July. The pipe was damaged in a blast on June 7.

Hedge Funds Continue Selling Oil, Especially Fuels: Kemp

Hedge funds became much more bullish about the outlook for U.S. crude prices last week, following an outage on Canada's Syncrude system, which supplies the U.S. Midwest, and…

TransCanada Urges U.S. to Help Gas Pipeline Approvals

The United States should help the natural gas industry overcome environmental challenges to new pipeline projects by adjusting regulations or adopting new laws favoring infrastructure…

U.S. Crude Stocks Fall, Exports Hit Record High - EIA

© Edelweiss / Adobe Stock

U.S. crude oil stockpiles fell last week as exports hit a record high and refinery ramped up output, while gasoline inventories dropped more than expected ahead of the summer driving season…