Government, Business, Fuel

Macquarie: Biden Likely to Tap Oil Reserve for Summer Demand

The Biden administration will likely need to tap oil from the country’s emergency reserves to counter a spike in gasoline prices and amid inflation fears during the summer driving season.

Lucia Kassai | Bloomberg News
April 15, 2024
Business, Fuel

Russian Fleet Heading to New York May Help Ease Diesel Pain

A fleet of tankers laden with Russian diesel heading to the U.S. East Coast may help to alleviate the most expensive retail prices for the fuel in seven years.

Lucia Kassai | Bloomberg News
November 18, 2021
Government, Business, Fuel

Diesel Stockpiles at 20-Year Low as Winter Nears

U.S. inventories of distillates — used as diesel for both transportation and heating oil — are enough to meet just 31.2 days of demand, according to the Energy Information Administration. That’s the tightest it has been for this time of the year since 2000.

Lucia Kassai | Bloomberg News
October 7, 2021
Government, Business, Fuel

US Slaps Sanctions on Mexican Companies Helping Venezuelan Oil

The U.S. Treasury Department levied sanctions on Mexican trading company Libre Abordo SA de CV for buying Venezuelan oil via oil-for-humanitarian-aid agreements with the embattled country.

Lucia Kassai | Bloomberg News
June 19, 2020