JUSTTHENEWS (The Center Square Staff) - Record Gulf Coast exports push U.S. oil inventories lower
Commercial crude oil stockpiles fell by 8 million barrels to a 22-year low of 434 million barrels in the week ended June 1, the U.S. Energy Department reported on Wednesday
NPR (Alina Selyukh) - Here's how we're coping with high gas prices, according to Costco and Walmart
Sky-high gas prices have drivers going out of their way for discounts at the pump. Oil executives warn that even higher prices might be on the horizon.
Sky-high gas prices have drivers going out of their way for discounts at the pump. Oil executives warn that even higher prices might be on the horizon.Open
STRIPES (John Vandiver) - Defense chief’s ouster over drone hit on Latvian refinery highlights NATO air defense challenge | Stars and Stripes
Latvian Defense Minister Andris Spruds’ resignation came days after two wayward drones hit an oil depot in the country.
NPR (Camila Domonoske) - Gas prices keep rising, but do big oil companies plan to drill more? Not so far
The war in Iran has pushed global oil prices higher, which boosts oil company revenues. But major U.S. oil companies aren't signaling plans to increase production to bring down prices at the pump.
The war in Iran has pushed global oil prices higher, which boosts oil company revenues. But major U.S. oil companies aren't signaling plans to increase production to bring down prices at the pump.Open
YOUTUBE (NewsNation) - US imposes sanctions on China-based oil refinery, 40 shippers over Iranian oil | Morning in America
President Donald Trump’s administration is placing economic sanctions on a major China-based oil refinery and roughly 40 shipping companies and tankers involved in transporting Iranian oil. NewsNation partner The Hill's Zach Schonfeld has more. https://www.newsnationnow.com/top-headlines/ap-top-headlines/ap-us-imposes-sanctions-on-a-china-based-oil-refinery-and-40-shippers-over-iranian-oil/ Start your day with "Morning in America," NewsNation's live three-hour national weekend morning newscast hosted by Hena Doba. Saturday and Sunday starting at 7a/6C. #MorningInAmerica NewsNation is your source for fact-based, unbiased news for all Americans.
NEWSNATIONNOW (FATIMA HUSSEIN, Associated Press) - US imposes sanctions on a China-based oil refinery and 40 shippers over Iranian oil
Concurrently, the U.S. this month imposed a physical blockade on the Strait of Hormuz, the Persian Gulf waterway that is crucial to global energy supplies.
NYTIMES (Alan Rappeport) - U.S. Unveils More Sanctions Targeting Iran’s Shadow Fleet
The Treasury Department also targeted a top independent Chinese refinery that it said was a major buyer of Iranian petroleum.
JUSTTHENEWS (Nicholas Ballasy) - Fuel protests spread in Ireland, amount of stations without gas expected to rise
Truck and tractor drivers maintained positions at key fuel infrastructure sites, including the country’s only refinery and several major depots, severely restricting distribution.
AXIOS (Ben Geman) - Large-scale oil shipping won't start again quickly after Iran ceasefire
Untangling the largest disruption in oil market history won't happen quickly or easily — and that means continued high prices and scarcity in major importing countries. Why it matters: A big thing to watch following the U.S.-Iran ceasefire deal is whether it gives tanker owners enough certainty to begin resumption of large-scale traffic of oil, petroleum products and other commodities through the Strait of Hormuz. The big picture: "Confidence-building measures in coming days are going to be key to restoring shipments," Joe Brusuelas, chief economist at the financial services and consulting firm RSM US, said in an interview. - He notes that insurance for the tankers will need to be reestablished, and that means figuring out the specific…
Untangling the largest disruption in oil market history won't happen quickly or easily — and that means continued high prices and scarcity in major importing countries. Why it matters: A big thing to watch following the U.S.-Iran ceasefire deal is whether it gives tanker owners enough certainty to begin resumption of large-scale traffic of oil, petroleum products and other commodities through the Strait of Hormuz. The big picture: "Confidence-building measures in coming days are going to be key to restoring shipments," Joe Brusuelas, chief economist at the financial services and consulting firm RSM US, said in an interview. - He notes that insurance for the tankers will need to be reestablished, and that means figuring out the specific…Open