ENERGY

Authored by John Murkowski via RealClear Wire,

U.S. Energy Secretary Jennifer Granholm gave Americans an unintended glimpse of the future during her road trip this summer touting the wonders of electric vehicles. Far from spotlighting the promise of EVs, her public relations misadventure in Georgia involved one of her staff in a gasoline-powered vehicle blocking off a coveted charger in advance of her arrival, leading to frayed tempers and a local EV owner calling the cops. It was an (more…)

Oil prices slipped lower this morning after treading water for most of the night after the API report.

Disappointing data on European economic activity helped weigh on oil prices Tuesday, as did the release of more Hamas hostages and the delay of the expected Israeli ground invasion of Gaza.

Brent crude prices have remained stubbornly within the $90 per barrel range, emphasizing the medium-term outlook’s dependence on demand rather than supply.

API

• Crude -2.688mm (more…)

 Oil closed at the lowest in more than a week amid signs the crude market’s tightness has slackened and the Israel-Hamas war will remain contained for the time being.

API

• Crude -2.688mm (+10k exp)

• Cushing +513k

• Gasoline -4.169mm (-300k exp) – biggest draw since March

• Distillates -2.313mm (-1.1mm exp)

A surprise build at the Cushing hub was offset by draws for crude and products with gasoline stocks tumbling most since March…. (more…)