• 2 minutes Oil prices going down
  • 11 minutes China & India in talks to form anti-OPEC
  • 16 minutes When will oil demand start declining due to EVs?
  • 6 hours Oil prices going down
  • 11 hours We Need A Lasting Solution To The Lies Told By Big Oil and API
  • 11 hours Another WTH? Example of Cheap Renewables
  • 3 days Bullish and bearish outlook for oil
  • 3 days Rolls Royce shedding 4,600 jobs
  • 1 day Trump Hits China With Tariffs On $50 Billion Of Goods
  • 2 hours What If Canada Had Wind and Not Oilsands?
  • 2 days When will oil demand start declining due to EVs?
  • 11 hours The Wonderful U.S. Oil Trade Deficit with Canada
  • 2 days Russia's Rosneft 'Comfortable' With $70-$80 Oil Ahead of OPEC Talks
  • 4 hours China & India in talks to form anti-OPEC
  • 10 hours The Permian Mystery
  • 4 hours No LNG Pipelines? Let the Trucks Roll In
  • 3 days U.S. Cars Will No Longer Need 55mpg Fuel Efficiency By 2025.
  • 3 days Epic Fail as Solar Crashes and Wind Refuses to Blow
  • 1 day Gazprom Exports to EU Hit Record
Oil Prices Rebound On Crude, Gasoline Inventory Draws

Oil Prices Rebound On Crude, Gasoline Inventory Draws

Oil prices reversed on Wednesday…

Is This The Most Contentious OPEC Meeting Yet?

Is This The Most Contentious OPEC Meeting Yet?

OPEC’s members have been divided…

Analysts Predict Draw from US Strategic Reserves over Storm Isaac

As gas prices continued to climb yesterday, industry analysts are predicting the increasing likelihood that the US will draw from its strategic oil and gas reserves in the face of Storm Isaac, making its way across the Gulf of Mexico and threatening to disrupt supplies.

The storm-turned-hurricane has led to the evacuation of oil platforms in the Gulf and a 78% reduction in Gulf oil output, while an explosion and ensuing fire at Venezuela’s largest refinery earlier this week has also cut supplies.

The White House has hinted that it may dip into strategic reserves, but so far has not committed to the move. Drawing from the strategic reserves this close to elections would expose the Obama administration to intense criticism from the Republican camp, which would accuse him of maneuvering to lower gas prices ahead of presidential elections.

By. Charles Kennedy of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News