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The Futures
Oil and gas prices are more than numbers—they reflect global events, technological advancements, and environmental concerns.
Horizon Energy Digest
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Curious Minds Corner
Oil pares gains as traders weigh Oman-Iran talks
Oil prices pared gains on Tuesday after hitting their highest for more than a week as signs of progress in talks between Oman and Iran over shipping through the Strait of Hormuz were weighed against ongoing disruption to Middle East energy flows. Brent crude futures fell 21 cents, to $87.51 a barrel. U.S. West Texas Intermediate crude futures were down 4 cents, at $82.09.
America’s oil reserves are the lowest in 43 years
America’s stockpile of crude oil has dropped to the lowest level in more than four decades. According to the US Department of Energy, the US Strategic Petroleum Reserve declined by 6 million barrels last week to 298.7 million. Data from the Energy Information Administration shows that’s the first time the stockpile has dipped below 300 million barrels since 1983.
Curious Minds Corner
What does API in API gravity stand for?
American Petroleum Institute.