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Oil surged on Friday as tensions in the Red Sea escalated following attacks by the US and its allies against Yemeni sites controlled by Iran-backed Houthi rebels.
Trump also mentioned his intent to impose tariffs on Canada and Mexico starting Feb. 1, sparking concerns of a trade war that could impact economic growth and, as a result, oil consumption.
The United States Maritime Alliance (USMX), the umbrella group representing the managers of the ports, sought to avert a strike at the last minute late on Monday night – offering a 50% wage hike ...
Representation of a oil derrick. The Texas oil boom, sometimes called the gusher age, was a period of dramatic change and economic growth in the U.S. state of Texas during the early 20th century that began with the discovery of a large petroleum reserve near Beaumont, Texas.
May 5 – A leak occurred in a relief line, at a Keystone Pipeline Terminal in Beaumont, Texas. About 18,500 gallons of crude oil were spilled. The cause seemed to be internal corrosion. [5] July 28 – A gas line explosion and fire occurred in Martin County, Texas, which injured four workers. A ditching truck hit an existing high-pressure gas ...
Commercial crude oil stock pile. The Strategic Petroleum Reserve (SPR) is an emergency stockpile of petroleum maintained by the United States Department of Energy (DOE). It is the largest publicly known emergency supply in the world; its underground tanks in Louisiana and Texas have capacity for 714 million barrels (113,500,000 m 3). [1]
The strike affecting 36 ports is the first by the union since 1977. Dockworkers at ports from Maine to Texas began walking picket lines early Tuesday in a strike over wages and automation that ...
The gas industry is not similarly preparing to ensure operation and is resisting regulation by the Railroad Commission of Texas, which oversees the oil and gas industry but whose commissioners' campaigns are funded by it. [22] Gas production fell by 25% on January 2, 2022, when temperatures in West Texas fell to 14 degrees. [22]