Inflation has been exacerbated by high energy prices — but there’s evidence that conditions are changing and consumers will see a reprieve in November.
Voters will select a new member of the Texas Railroad Commission, which has nothing to do with regulating trains and everything to do with the oil and gas industry.
The U.S. Energy Information Administration raised its Brent crude forecast to average around $90 a barrel for the second half of the year, about 5% higher than its last estimate.
U.S. refineries are operating at about 97% capacity as they compensate for global refining capacity lost to war damage elsewhere. Now, upcoming run-of-the-mill maintenance adds even more pressure on markets.
Canada sends about 90% of its oil exports to the U.S., roughly 4 million barrels per day. But growing frustrations between the two countries have given our northern neighbors motivation to build new energy relationships.