The Group of 7, which includes Britain, France, Japan and others, announced the release of 100 million barrels over four months, effective immediately.
Category: Stockpiling
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U.S. and Allies Agree to Release Diesel Reserves as Prices Soar
The New York Times – Business: -
Oil Is Flowing From the Persian Gulf, but Prices Remain High. Why?
The New York Times – Business:Crude oil costs close to $100 a barrel because traders are worried hostilities could soon restart and the world is burning through its emergency stockpiles.
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As a New Oil Power, China Gains More Sway Over Energy Markets
The New York Times – Business:The war with Iran revealed just how much influence the world’s biggest oil importer has over prices and other countries’ supplies of jet fuel, gasoline and diesel.
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Behind the Scenes, Vance Gathered Unvarnished Views of the Iran War
The New York Times – On the Runway:Vice President JD Vance received sobering assessments about the war that did not line up with what he, President Trump and other top administration officials were saying publicly.
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How the Pentagon Is Getting Into the Venezuelan Oil Business Under Trump
The New York Times – Business:The Defense Department’s Office of Strategic Capital, founded by the Biden administration to give loans to bolster the U.S. defense industry, is helping lead President Trump’s oil deal.
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Why These Giant Storage Tanks Increasingly Hold Very Little Oil
The New York Times – Business:Oil companies and governments are consuming their once vast stockpiles as Iran and the United States continue to struggle for control over the Strait of Hormuz.
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U.S. Marines Cancel Drill With South Korea, Citing Iran War Demands
The New York Times – On the Runway:The move to call off the high-profile event was communicated in June, South Korea said. President Trump shortened another joint military exercise earlier this month.
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Taiwan’s Plastic Habit Collides With Shortages Caused by a Faraway War
The New York Times – Business:Summary TK
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U.S. Trade Deficit Grew in March
The New York Times – Business:Both exports and imports rose after the Supreme Court struck down many of the president’s highest levies in February.
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Hoarding Is Driving Energy Prices Higher Everywhere
The New York Times – Business:As wealthy nations scramble to secure stocks of oil, the result is higher prices for all and shortages in vulnerable countries.
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How China Built Its Vast Natural Gas Stockpile
The New York Times – Business:Natural gas is hard to store, but China has found a way to do it, while also developing alternate suppliers and expanding production at home.