**Retail gasoline prices in the United States rose on Tuesday and hit another all-time record, surpassing one set in March, as global refineries grappled with a bottleneck that has sent prices soaring ahead of driving season. The average cost of a retail gallon of gasoline hit $4.374 early Tuesday, according to the American Automobile Association, surpassing the former record of $4.331.
** U.S. energy companies are holding the line on capital spending and energy production this year despite higher oil and gas prices, and entreaties from Washington to boost production.
** Climate activists have singled out a group of fossil-fuel companies that together have $491 billion of bonds outstanding, in a campaign designed to cut funding for producers that are still expanding their carbon-intense operations.
** A federal agency says 19 unmarked graves were found at the site of Ford’s planned electric vehicle battery plants in Kentucky.
** Duke Energy sees higher revenues but lower profits in the first quarter of 2022 because of expenses during January’s winter storms and $250 million in coal ash costs.
** The low emissions profile of Haynesville Shale natural gas and the play’s proximity to LNG export terminals have made the basin a hub for third-party certification, putting it in pole position in the race to get more and cleaner US gas to global markets.
** U.S. Sen. Ted Cruz blames rising energy prices not on the Russian invasion of Ukraine but federal policies that halted leasing of new oil and gas and permitting of new pipelines.
World
** The oil ministers of Saudi Arabia and the United Arab Emirates warned that spare capacity is decreasing in all energy sectors, as products from crude to diesel and natural gas trade near record highs in the wake of Russia’s invasion of Ukraine.
** Hungarian Prime Minister Viktor Orban’s talks with European Commission President Ursula von der Leyen about proposed sanctions on Russian oil imports made progress but failed to reach a breakthrough, according to both sides. Maria Tadeo reports on Bloomberg Television.
** Germany and Qatar have hit difficulties in talks over long-term liquefied natural gas (LNG) supply deals amid differences over key conditions, including the duration of any contract, three people familiar with the discussions told Reuters.
** Oil prices declined Monday after Saudi Arabia, the biggest exporter, reduced prices for Asia and northwest Europe.
** Russian oil exports to the European Union are likely to drop by around 3 million barrels per day under the bloc’s embargo plans, in what would be a “seismic shift” for global markets, consultancy Rystad Energy has said.
** Indian companies have accrued additional volumes of discounted liquefied natural gas from Russia while other customers avoid doing business with Moscow over its war on Ukraine.