All articles tagged with #eia
AAA reports the national average price for regular gasoline rose to about $4.44 per gallon, up 16 cents from last week as crude oil remains around $100 a barrel amid Hormuz volatility; demand rose and inventories dipped slightly, with prices approaching this year’s peak of $4.56, while EV charging averaged 42 cents per kWh and state prices vary widely.
U.S. crude inventories declined by 4.5 million barrels for the week ending Aug. 28 per the EIA, lifting total stockpiles to 424.5 million barrels and just above the five-year average; gasoline stocks fell while distillates rose, and demand indicators show a softer pace vs. a year ago, as Brent trades around $94 and WTI near $89.
An energy expert warns that reopening the Strait of Hormuz won’t end the Persian Gulf oil crunch. About 5.5–8 million barrels per day of Gulf production are shut in, and restarting those wells is a complex, long process with some output potentially never returning. Even with a political settlement, tanker movement may resume but upstream constraints and refinery needs could keep diesel and jet-fuel shortages for months, delaying a full market recovery. IEA and EIA projections suggest a gradual return to pre-war levels by 2027, but the path is uneven and the energy system could be permanently altered, challenging U.S. energy security despite record domestic production.
U.S. EIA data show CAISO utility-scale solar generated more electricity than natural gas on 82% of days from January to May 2026, with solar output up 21% vs 2024 and gas down 60%. Solar capacity reached about 25 GW and battery storage 16 GW, while natural gas capacity stayed around 29 GW. Despite a 7% rise in electricity demand, total CAISO net generation fell 19% as imports from hydropower and the new SunZia wind project in New Mexico offset domestic generation, and several capacity retirements occurred, including a 300 MW battery facility after a 2025 fire.
U.S. commercial crude stocks fell 7.2 million barrels to 426.5 million for the week ending June 5, about 5% below the five-year average, per the EIA (API had shown a 9.1 million-barrel draw earlier). Crude prices were higher mid-morning, with Brent around $92.82 and WTI near $89.81. Gasoline inventories rose 200,000 barrels while distillates fell 200,000 as refinery runs increased and gasoline production rose to 9.7 million barrels per day. Total products supplied, a proxy for demand, averaged 20.6 million bpd over the last four weeks, with year-over-year gains in gasoline (8.8 mbpd) and distillates (3.7 mbpd). Distillate stocks remain about 13% below the five-year average.
The EIA reported an 8.0-million-barrel decline in U.S. crude inventories for the week ending May 29, lowering stockpiles to 433.7 million and 3% below the five-year average. API had flagged a 6.75-million-barrel draw the day before. In early trading, Brent rose to about $98.24/b and WTI to $95.99/b. Gasoline stocks rose 3.4 million barrels and distillates 1.5 million, while overall demand (Total Products Supplied) averaged 20.4 million bpd over the past four weeks, up 3% year over year.
API data show US crude inventories dropped 2.8 million barrels in the week ending May 22 (after a 9.1 million-barrel decline the prior week), with the SPR at 365.1 million barrels—the lowest level since April 2024. U.S. production slipped to about 13.702 million bpd; Brent and WTI were trading lower (around $95.46 and $89.66, respectively). Gasoline inventories fell by about 3.2 million barrels, distillates rose 1.1 million, and Cushing storage fell roughly 2.875 million barrels. Overall, inventories remain below five-year averages for gasoline and distillates amid an ongoing supply imbalance.
As Memorial Day travel kicks off, AAA reports the national average for regular gas at about $4.56 a gallon, the highest in four years, up 3 cents from last week and roughly $1.38 higher than a year ago, driven by rising demand and tighter supply amid the ongoing Strait of Hormuz disruption; WTI crude settled near $98.26 a barrel as inventories fell and the EIA notes demand rose while supply dropped; EV charging costs remain at about 41 cents per kWh, and regional price gaps persist, with California the most expensive market and Mississippi the cheapest.
The U.S. EIA sharply revised its oil-price outlook in its latest STEO amid the Strait of Hormuz disruptions, with Brent trading near $94 per barrel and the forecast raising averages to $79 for Brent in 2026 and $64 in 2027 (up from a month earlier). The agency also sees U.S. crude output rising to about 13.6 mbpd in 2026 and 13.8 mbpd in 2027, contingent on the conflict being temporary and tanker traffic gradually resuming; if disruptions persist, prices and supply balances could move much more than currently forecast.
U.S. crude inventories fell 2.3 million barrels to 423.8 million for the week ending Jan. 24 per the EIA, about 3% below the five-year average, with API reporting a smaller draw a day earlier. Prices rose with Brent near $68.11/bbl and WTI around $63 as winter disruptions and geopolitical risk premiums supported markets. Gasoline stocks increased slightly, distillates rose modestly, and total products supplied (a demand proxy) climbed to 20.3 million b/d over four weeks, though year-over-year demand remained essentially flat-to-down.
Natural gas rebounds after the EIA report showing a -71 Bcf draw, with prices testing the $3.10 area and eyeing resistance around $3.25–$3.30; WTI crude slips below $60 as Iran supply-disruption fears ease following Trump’s comments, with a path toward $55.50–$56.00 if it continues lower; Brent crude also eases toward $64 as Iran risk fades, with a downside target near $62.54 if losses extend.
Oil prices fell more than 4% after President Trump said Iran killings were ending, easing fears of immediate conflict and supply disruption. The U.S. withdrew some forces in the Middle East, while the EIA reported a larger-than-expected rise in crude and gasoline stocks. Venezuela also moved to reverse output cuts, and demand forecasts suggested a near balance between supply and demand in the near term.
In 2025, crude oil prices declined due to oversupply in the global market, with prices dropping from $79 to $63 per barrel, influenced by economic slowdown, increased production by OPEC+, and inventory builds, especially in China, which moderated price declines.
Crude oil prices rose after the U.S. Energy Information Administration reported a significant inventory draw of 4.9 million barrels for the week ending July 12, aligning with the American Petroleum Institute's estimates. Despite the crude draw, gasoline and middle distillate inventories saw increases. Oil prices saw a boost, with WTI and Brent both trading up over 1%.
Crude oil prices fell as the U.S. Energy Information Administration reported an unexpected inventory build of 1.2 million barrels for the week ending May 31, along with increases in gasoline and middle distillate inventories. This follows similar reports from the American Petroleum Institute and comes amid concerns over potential reversals of OPEC+ production cuts, leading to a market selloff and oil prices hitting a four-month low.