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Light, sweet crude prices rose modestly on the New York market June 13 after a weekly US government report showed a sharp fall in oil inventories. US crude oil inventories, excluding the Strategic Petroleum Reserve, decreased 4.1 million bbl to an estimated 432.4 million bbl for the week ended June 8, according to a weekly report from the US Energy Information Administration.

 

The US Environmental Protection Agency registered isobutanol as an additive for blending into gasoline up to levels of 16% volume. Administrator E. Scott Pruitt announced the June 12 approval in a letter to Butamax Advanced Biofuels LLC, a BP PLC and DuPont Co. bio-isobutanol joint venture based in Wilmington, Del.

US Sen. John Hoeven (R-ND) announced on June 14 that he has reintroduced legislation aimed at preventing delays in US oil and natural gas pipelines and electric power lines that would cross the US borders with Canada or Mexico.

Light, sweet crude oil prices fell by more than $1/bbl for both the July and August contracts on the New York market May 31, but the Brent contract for July gained more than $1/bbl in London.

US President Donald Trump signed proclamations removing exemptions from steel and aluminum tariffs for Canada, Mexico, and the European Union as of June 1. The presidents of the American Petroleum Institute and Interstate Natural Gas Association of America separately criticized the president’s May 31 action.

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RT @AnteroResources: Don't forget – our 3rd annual oil and gas dodgeball tournament is on June 15! Proceeds benefit Patrons of the Parks an…

RT @energizeWV: “The Cheat River is a beautiful river and one that stood out to us as a place that we could make a positive impact," Rowlan…