SPR

Crimean Parliament Seeks Formal Union With Russia

In one of the better pieces dealing with European gas supply issues associated with the Russia-Ukraine political crisis, this article cites a recent study published by the Oxford Institute for Energy Studies which pinpoints Ukrainian fiscal instability as the most likely cause of a European gas supply disruption. “The difficulties that Naftogaz Ukrainy is having,… Keep reading →

Distributor Offloads Oil From Barge

The US Department of Energy is conducting a test sale of crude oil from the Strategic Petroleum Reserve. Five million barrels of sour crude are being offered for April, 2014 delivery from the West Hackberry and Big Hill sites on the US Gulf Coast. The sale is reportedly timed to coincide with US refiners’ annual… Keep reading →


As US sanctions on Iran tighten and gas prices reach record levels, it is becoming more likely that a release of oil from the US Strategic Petroleum Reserve is in the works. Yet analysts aren’t convinced tapping the SPR is a good idea. Administration officials said Friday that reserves from the SPR were taken into account when they determined that oil markets could handle the loss of Iranian oil. Even before the tighter sanctions were announced, there was talk the administration had been colluding with European countries on a coordinated withdrawal. The rumors have already pushed global oil prices down slightly, although they remain over $120 a barrel.