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U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve (SPR) decreased by 3.4 million barrels from the week ending November 7 to the week ending November 14, the U.S. Energy Information Administration (EIA) highlighted in its latest weekly petroleum status report. This EIA report, which was released on November 19 and included data for the week ending November 14, showed that crude oil stocks, not including the SPR, stood at 424.2 million barrels on November 14, 427.6 million barrels on November 7, and 430.3 million barrels on November 15, 2024. Crude oil in the SPR stood at…

2025-11-21T09:30:01.278Z Share Facebook Email X LinkedIn Reddit Bluesky WhatsApp Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. I visited the New York Meta Lab pop-up. It got me excited for the future of Meta’s in-person retail. The pop-up was artfully designed and loaded with different use cases for the company’s AI glasses, which you can demo. Meta staff dwarfed the number of customers, but it may…

LOS ANGELES (AP) — Torrential rains drenched parts of Southern California on Friday, leading to new flash flood warnings following earlier storms that put the region on track for near-record November rainfall, the National Weather Service said.Before dawn Friday, residents were warned of flash flooding of streets, creeks and streams and possible mudslides in several parts of Los Angeles and Orange counties. In coastal Huntington Beach, rain flowed through some streets like a stream.The most recent flash flood warnings from the National Weather Service covered areas spanning from downtown Los Angeles and Santa Monica to Mission Viejo in Orange County.…

A new draft text on the outcome of the Cop30 climate talks that contains no mention of a phase-out of fossil fuels was published on Friday morning, despite countries supporting such action having threatened to block any agreement without it.The Guardian revealed on Thursday night that at least 29 nations supporting a phase-out of fossil fuels at the climate summit had sent a letter to the Brazilian Cop presidency threatening to block any agreement that did not include such a commitment, in a significant escalation of tensions at the crunch talks. The leaked letter demanded that the roadmap be included…

U.S. sanctions on the global operations of Russian oil heavyweights Rosneft and Lukoil enter into effect today, with some 48 million barrels of Rosneft and Lukoil crude on tankers that will now have to look for new destinations.Bloomberg reported the figures, citing Kpler data and noting that the cargoes—mostly Urals and ESPO—were loaded on some 50 tankers with an original destination in China and India, but also others without a set final destination. The publication added that this round of sanctions was among the “most aggressive” by the U.S. federal government, adding that if these barrels do not find a…

The U.S. federal government on Thursday announced plans to allow oil and gas drilling off the coast of California and Florida for the first time in decades, prompting a strong reaction from California’s governor, who called the plan “idiotic”.The Department of the Interior yesterday announced an order signed by Secretary Doug Burgum titled Unleashing American Offshore Energy, which would roll back limits introduced during the previous administration and open up more offshore areas for oil and gas exploration.“Offshore oil and gas production does not happen overnight. It takes years of planning, investment, and hard work before barrels reach the market,”…

TotalEnergies SE Chief Executive Officer Patrick Pouyanne rejected accusations the French energy firm has responsibilities in alleged killing of civilians four years ago at its liquefied natural gas project site in Mozambique. The company “is accused of having directly financed and materially supported” a group of armed forces, who “allegedly detained, tortured and killed dozens of civilians” at the LNG project in the north of the country, the European Center for Constitutional and Human Rights said in a statement Tuesday. It filed a criminal complaint over the allegations with the French National Anti-Terrorism Prosecutor this week. “We will defend ourselves and we…

Dynagas LNG Partners LP on Thursday reported $38.89 million in revenue for the third quarter, down from $39.07 million for the same three-month period last year. The decrease brought down net profit adjusted for nonrecurring items from $14.48 million for Q3 2024 to $14.23 million, or $0.36 per share, for Q3 2025, the Athens-based owner and operator of liquefied natural gas (LNG) carriers said in its quarterly report. The revenue fall was driven by “the decrease of the daily hire rate of the Arctic Aurora in the three-month period ending September 30, 2025, and the decrease in revenue earning days…

China and India have taken the lions share of Russias exports since the invasion of Ukraine in 2022, and they continue to have close ties with Moscow. US sanctions that come into effect on Friday could leave nearly 48 million barrels of Russian crude stranded on the water, pushing dozens of tankers to scramble for alternative destinations in the latest overhaul of the global oil trade.Washington’s move last month to blacklist top oil producers Rosneft PJSC and Lukoil PJSC is arguably its most aggressive to date under the current administration, as President Donald Trump tries to dial up pressure on…

Oil prices declined for a third consecutive session as the US advocated for a Russia-Ukraine peace deal, potentially increasing global oil supplies. Oil prices extended their decline for a third straight session on Friday as the US pushed for a Russia-Ukraine peace deal that could bring more oil supplies onto the global market, while uncertainty over US interest rate cuts curbed investor risk appetite. Brent crude futures fell 71 cents, or 1.12 per cent, to $62.67 a barrel by 0212 GMT after slipping 0.2 per cent in the previous session. US West Texas Intermediate crude was at $58.29 a barrel,…