** At least 3 million were left without electricity after Hurricane Milton hit Florida Wednesday Evening. Tornadoes killed four persons. ** Florida firefighters say there is a growing concern that the floodwaters will result in the spontaneous combustion of electric vehicles.The fires had become frequent enough that insurers, car makers, fire chiefs and politicians have …
Category: Oil & Gas
Crude prices fell Wednesday on nation’s jump in crude oil supplies
A hefty gain in U.S. crude oil supplies, including those at the nation’s largest tank farm, the Cushing Hub, sparked a drop in crude oil prices Wednesday. But the fall wasn’t as big as it could have been because of the continuing risk that Iran’s crude oil supplies might be interrupted by fighting in the …
Crude oil supplies increased across the U.S. and at Cushing Hub in past week
Crude oil supplies increased at the Cushing Hub in northern Oklahoma over the past week and did the same across the U.S. The latest report from the U.S. Energy Information Administration showed a national gain of 5.8 million barrels as supplies across the country rose from 416.9 million barrels in late September to …
Wildfires result in lower oil production in North Dakota
Oil production is expected to take a slight dip in North Dakota because of ongoing wildfires. Reports by Reuters and the Associated Press indicated that production might be down as much as 90,000 barrels a day. According to the North Dakota Pipeline Authority, natural gas production is also affected by the wildfires that …
Winter heating costs to follow last year’s
With the heat dome lingering over Oklahoma and much of the middle part of the country, it’s hard to think about winter and cold-weather heating bills. But the U.S. Energy Information Administration came out with a report this week saying it expects most U.S. households, on average, will pay about the same to heat …
Developer proposes 350-mile underground transmission line in Iowa
The public will get a chance later this month to see more details about a proposed 350-mile underground transmission line proposed in Iowa. The developer wants to build it along a railroad right of way. Click below for Telegraph Herald Public input meeting planned for underground transmission line project | Tri-state News | …
Ascent Resources’ cash tender offer results
The results of a note offering by Ascent Resources Utica Holdings, LLC of Oklahoma City were made available by the company. In an announcement, Ascent said it had received tenders for a total of $549,234,000 of its outstanding 7.00% Senior Notes due 2026. The total represented 92% of the principal amount of the Notes outstanding. …
Energy briefs
** EIA expects U.S. crude oil production will average 13.5 million barrels per day in 2025, a record high. EIA had previously expected domestic crude oil production would average 13.7 million barrels per day next year but revised its production forecast lower largely due to its expectation of lower crude oil prices. ** GM CEO Mary Barra …
Crude prices tumble over possible ceasefire between Hezbollah and Israel
The prospects of a possible ceasefire between Israel and Hezbollah sent crude oil prices down nearly 5% on Tuesday, and in turn some Oklahoma energy stocks felt the impact and suffered up to a 7% tumble. There remains some anxiety that the tension is far from eased and things could erupt into more fighting at …
Summit Utilities agrees to $15 monthly rate hike for residential customers in Arkansas
Summit Utilities ratepayers in Arkansas are likely to see a monthly rate hike of more than $15 as a result of the company’s request for a $105 million increase or a nearly 30% increase for residential customers. The utility recently filed a settlement with the Arkansas Public Service Commission in which rates would …