The amount of crude oil and oil products flowing around the Cape of Good Hope, located at the southern tip of Africa, increased nearly 50% in the first five months of 2024 compared with the 2023 average as commercial vessels avoided chokepoints in the Middle East.
Developers in the United States have plans to expand hydrogen production using technologies that make use of electricity, an early sign that hydrogen production could move away from its current reliance on hydrocarbon feedstocks in the coming years.
Sales of bunker fuel in Singapore, the world's largest bunkering fuel port, have increased to all-time highs, indicating increased global consumption as cargo ships, tankers, and other marine vessels take longer routes to avoid the Red Sea. Ship operators have been avoiding the Red Sea following Yemen-based Houthi ...
As average prices of U.S. natural gas fell in 2023, natural gas prices also became less volatile compared with 2022. Historical volatility, a measure of daily price changes relative to average prices, eased from the recent highs reached in 2022. The measure of historical volatility we use here, which relates ...
The value of energy trade between the United States and Canada decreased in 2023 from the record set in 2022 as energy prices fell, according to data from the U.S. Census Bureau. Although the amount of energy traded between the two countries was largely flat in 2023, the value decreased by 20% when adjusted for ...
We forecast that the natural gas consumed for electricity generation this summer in the United States will reach near the record set last year. Despite a 3% increase in overall U.S. electricity generation this summer, we do not expect natural gas consumption for electricity generation to grow. Growth in electricity ...
After years of either declining or stable domestic natural gas production, the Republic of the Congo, also known as Congo Brazzaville, began exporting liquefied natural gas (LNG) for the first time when the first phase of a two-phase floating LNG (FLNG) project began operating in February 2024. The development of LNG ...
Annual U.S. biodiesel imports doubled from 2022 to 2023 to 33,000 barrels per day (b/d) and continued to rise in the first two months of 2024, according to the most recent data available. Much of the increase in biodiesel imports has come from Germany, and the remaining increase has come mostly from elsewhere in ...
On May 20, 2024, the Monday before Memorial Day, the retail price of regular gasoline averaged $3.58 per gallon (gal) across the United States, 1% higher than at the same time last year. After adjusting for inflation (real terms), average U.S. retail gasoline prices going into Memorial Day weekend are 2% lower than ...
Meteorologists are forecasting a particularly intense Atlantic hurricane season this year; they expect 20-25 named storms with a possibility of 30 or more, according to reports from AccuWeather in April. Colorado State University similarly forecasts an estimated 23 named storms this year. The potential for a stronger ...
