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Oil started the week with a gain, after an Iranian missile attack caused damage to the Haifa refinery in Israel over the weekend, prompting a partial shutdown, Israeli media reported, saying the facility remained operational. At the time of writing, Brent crude was trading at $74.83 per barrel, with West Texas Intermediate at $73.77
Israel’s Oil Refineries said its pipelines and transmission lines in Haifa had been damaged by missile strikes by Iran, according to a regulatory filing to the Tel Aviv Stock Exchange.
(Investing) –HOUSTON – The price spread between WTI Midland crude in West Texas and Houston has narrowed this year as cold weather hurt Permian production, driving up prices, but weaker refinery and export demand on the U.S. refinery utilization stood at 85.6% Gulf Coast pressured that market lower. A 10% tariff by the U.S.
By continuously monitoring machinery performance, AI enables companies to address maintenance issues before they escalate, preventing costly shutdowns and enhancing overall safety. AI models analyze real-time data from drilling sites, pipelines, and refineries, adjusting operations to optimize production and efficiency.
(Note: TC Energys (formerly TransCanada) Keystone pipeline is not to be confused with the companys proposed Keystone XL pipeline a separate pipeline project that was defeated and cancelled two separate times under Pres. An emergency shutdown and response was initiated at about 9 p.m. Obama and Pres. CT on Dec.
refineryshutdowns of 400,000 bpd are contributing to the surplus. bcfd, negative Waha Hub prices caused by pipeline maintenance, and mild weather forecasts through April. Summary : The IEA reports that global crude supply is exceeding demand by 600,000 bpd, pushing oil prices toward the $60-$80 per barrel range, with U.S.
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