Tag

Energy And Markets

All articles tagged with #energy and markets

energy-and-markets2 days ago•2 min saved

Chevron CEO Mike Wirth warns Trump administration against diesel export ban amid global supply crunch

Chevron CEO Mike Wirth warned the Trump administration that a U.S. diesel export ban would be unwise, arguing it would remove supply from global markets and undermine confidence in American energy reliability. He noted that while recent Middle East crude exports and G7 stockpile releases have eased immediate fears, global inventories remain critically low after being drained over several months. Wirth emphasized that the energy system is now more vulnerable to disruption, particularly as the U.S.-Iran conflict continues to threaten shipping through the Strait of Hormuz. He also highlighted Chevron’s $7 billion investment plan to double oil production in Venezuela by 2031, though he acknowledged this long-term growth cannot offset current Middle East supply risks.

via CNBC|

#chevron #diesel-export-ban #energy-and-markets

energy-and-markets8 days ago

Crude flows recover in Hormuz, but diesel shortages and high costs persist

Crude oil exports through the Strait of Hormuz have returned to pre-war levels, but refined product supplies remain severely constrained. This imbalance has driven diesel prices to record highs, prompting US President Donald Trump to consider an export ban. While crude flows have recovered via alternative routes and military escorts, the underlying threat to shipping remains, and global inventories are shrinking.

via CNBC|

#diesel-prices #energy-and-markets #global-economy

energy-and-markets11 days ago•2 min saved

Trump Weighs Diesel Export Ban as U.S. Prices Hit Record Highs

President Donald Trump is seriously considering a ban on U.S. diesel exports to lower domestic fuel prices ahead of the November midterm elections. U.S. diesel prices recently reached a record high of $6.53 per gallon, driven by global supply disruptions from conflicts in Ukraine and the Middle East. While the White House has not finalized a decision, Energy Secretary Chris Wright indicated the administration is weighing restrictions rather than an outright ban. Industry groups and analysts warn that such a move could backfire by raising global prices and disrupting U.S. gasoline supply.

via CNBC|

#diesel-export-ban #energy-and-markets #fuel-prices

energy-and-markets15 days ago•24 min saved

White House Weighs 90-Day Diesel Export Ban Amid Record Prices and Internal Pushback

The Trump administration is preparing a 90-day ban on US diesel exports to lower record-high prices, despite strong opposition from energy officials and industry leaders who warn it will backfire.

via Yahoo Finance|

#diesel-export-ban #energy-and-markets #energy-policy

energy-and-markets3 months ago•3 min saved

Oil nudges above $80 as Hormuz risk lingers and Lebanon clash roils markets

Oil prices rose above $80 as uncertainty over a US-Iran deal sustains risk around the Strait of Hormuz, with security concerns and Lebanon clashes weighing on sentiment. While a few tankers transited Hormuz, overall traffic remains well below peacetime levels and hundreds of vessels wait to exit, prompting calls from INTERTANKO for clearer safety steps to ensure safe passage.

via Al Jazeera|

#energy-and-markets #lebanon-conflict #oil-prices