• 5 minutes Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 10 minutes Iranian Sanctions - What Are The Facts?
  • 15 minutes U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 3 hours Can the World Survive without Saudi Oil?
  • 56 mins Sears files Chapter 11
  • 1 hour Natural disasters and US deficit
  • 19 hours U.S. - Saudi Arabia: President Trump Says Saudi Arabia's King Wouldn't Survive "Two Weeks" Without U.S. Backing
  • 3 hours China Is the Climate-Change Battleground
  • 18 hours How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 2 days COLORADO FOCUS: Stocks to Watch Prior to Midterms
  • 1 day How Long Until We Have Working Nuclear Fusion Reactor?
  • 2 days $70 More Likely Than $100 - YeeeeeeHaaaaa
  • 11 hours Threat: Iran warns U.S, Israel to expect a 'devastating' revenge
  • 16 hours German Voters Set to Punish Merkel’s Conservative Bloc
  • 17 hours Saudi A Threatens to Block UN Climate Report
  • 2 days China Tariff Threatens U.S. LNG Boom
Indicators To Watch As Oil Stocks Flop

Indicators To Watch As Oil Stocks Flop

Stock markets derailed on Wednesday,…

EIA Inventory Count Accelerates Oil Price Slide

EIA Inventory Count Accelerates Oil Price Slide

Oil prices continued to slide…

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