ENERGY

Authored by Mario Loyola via RealClear Wire,

The U.S. Supreme Court’s ruling in West Virginia v. EPA last year was a historic defeat for the Environmental Protection Agency. Not only did the Court rule that the 2015 Clean Power Plan, President Obama’s signature climate regulation, was unconstitutional; it also dramatically limited EPA’s power to regulate carbon emissions under the Clean Air Act (CAA) moving forward. 

That left the agency with two courses of action. (more…)

Amid carnage across various markets today, oil prices ended notably higher (recovering strongly from an ugly overnight puke) as bearish risk appetites battled (and lost) to the effects of rapidly tightening supplies.

Tonight's glimpse at inventories will provide more color…

API

• Crude +1.6mm (-600k exp)

• Cushing -828k

• Gasoline -70k (-200k exp)

• Distillates -1.7mm (-1mm exp)

With stocks at Cushing running near tank-bottoms (and overall (more…)

By Tsvetana Paraskova of Oilprice.com,

On Monday, Russia tweaked its export limitations on fuels, lifting the temporary ban on exports of low-quality diesel and marine fuel.

At the end of last week, Russia surprised the markets by announcing a temporary ban on exports of gasoline and diesel to stabilize fuel prices on the domestic market, ending weeks of speculation that authorities would limit exports in the face of soaring prices and shortages due to higher crude prices and (more…)