Refinery margins for petroleum refiners across the world are shrinking, indicating reduced profitability from refining crude oil and selling petroleum products. Declining margins are the result of relatively weak demand for petroleum products even as global refining capacity increases.
The amount of crude oil and oil products flowing through the Bab el-Mandeb, the southern chokepoint at the mouth of the Red Sea, decreased by more than 50% in the first eight months of 2024.
Last summer, U.S. electricity demand in the Lower 48 states was greatest at 6:00 p.m. Eastern Daylight Time on July 15, 2024, when it reached about 745 gigawatthours (GWh), based on data in our Hourly Electric Grid Monitor. In our analysis, we calculate each day's peak according to the hour with the highest ...
As of 8:00 a.m. eastern time on October 9, Hurricane Milton is expected to make landfall late Wednesday or early Thursday as a major hurricane on the west coast of Florida with sustained winds of 160 miles per hour, creating the potential for significant disruptions to energy infrastructure.
As we explain in our October 2024 Winter Fuels Outlook, we expect that most U.S. households are likely to spend about the same or less on energy than they did last winter, depending on a household's main space heating fuel and the region where they live. We expect that lower prices this winter will be offset by colder ...
U.S. natural gas-fired power plants generated more than 7 million megawatthours (MWh) of electricity on August 2, 2024, according to our Hourly Electric Grid Monitor, making up almost half of all electricity generated in the contiguous United States that day.
Biofuels are making up an increasing share of total distillate fuel oil consumed in the United States. Beginning in the September 2024 Short-Term Energy Outlook (STEO), we began publishing forecasts for several new series that help to better capture how biofuels are being consumed and overall demand for distillate ...
We expect distillate fuel oil consumption to increase in the fall as diesel-powered agricultural equipment is used to harvest and transport crops. The harvest tends to peak in mid-October and continue through November, when the start of the winter home heating season also supports distillate fuel oil demand. With ...
In the United States, electricity consumption is growing fastest in Texas, where the Electric Reliability Council of Texas (ERCOT) manages 90% of the load on the state’s power grid. One of the main sources of growing demand for power is large-scale computing facilities such as data centers and cryptocurrency mining ...
China is a major natural gas importer by pipeline and the world's largest importer of liquefied natural gas (LNG). In the last 10 years, the Chinese government has actively supported the development of unconventional natural gas resources to reduce import dependence and enhance energy security.
In August 2024, utility-scale generation of solar electricity averaged 63.1 gigawatthours between 10:00 a.m. and 6:00 p.m. each day in the Lower 48 states, 36% more than for the same hours in August 2023. Additions of solar generating capacity outpaced other resources in the U.S. electric power sector in 2023, and we ...
Last month, Constellation Energy announced a 20-year power purchase agreement (PPA) to provide electricity to Microsoft data centers in the mid-Atlantic region from the Unit 1 reactor at the Three Mile Island nuclear power plant in Pennsylvania.
