House votes to ban sales from Strategic Petroleum Reserve to China
More than 100 Democrats joined Republicans to support the bill. Source: ABC News | Lauren Peller Oil has been released from the Strategic Petroleum Reserve three times since it was…
Oil falls 3% as investors focus on weak China economic activity
Price action West Texas Intermediate crude for June delivery CL.1, -3.76% CL00, -3.74% CLM22, -3.73% slumped $3.95, or 3.8%, to $100.74 a barrel on the New York Mercantile Exchange.July Brent crude BRN00, -3.29% BRNN22, -3.41%, the global benchmark, dropped $3.82, or 3.5%,…
This Week in Petroleum
On June 12, 2021, China implemented a new consumption tax policy affecting its imports of mixed aromatics and light cycle oil—two fuels that have been used in blending gasoline and…