Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 28 APRIL 2016

Optimism In Oil Prices

Fox Rothschild LLP
Fox Rothschild LLP
Contributor
Explore more from Fox Rothschild LLP

Fortune released an article today entitled Here's Why Oil Prices Just Hit a 2016 High …

United StatesEnergy and Natural Resources
Melissa Lyon
Melissa Lyon
Author LinkedIn connections

Fortune released an article today entitled Here's Why Oil Prices Just Hit a 2016 High ...with West Texas Intermediate (WTI) closing at $45.33 and Brent Crude closing at $47.34 per barrel according to Bloomberg Energy today, I was also wondering the same thing.

Fortune's answer is simple, "[i]t has to do with a surprise drop in U.S. crude stockpiles."

According to Fortune, Brent and WTI benchmarks rose more than 4% after the American Petroleum Institute ("API") reported a drawdown of nearly 1.1 million barrels in U.S. crude inventories last week.

The API report is a precursor to official inventory data from the U.S. Energy Information Administration ("EIA"). So what does the EIA have to say about it?

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Texas Gov. Abbott Directs Data Center Audit; ERCOT Pauses Interconnection Process In Response

Texas Governor Greg Abbott has directed state regulators to conduct a comprehensive audit of data center projects seeking grid access, while ERCOT has paused its Batch Zero interconnection process. This regulatory shift introduces immediate uncertainty for developers regarding timelines, financing, and project approvals, signaling that political engagement has become as critical as securing land and power in the Texas data center market.
United StatesEnergy and Natural Resources
Holland & Knight
Holland & Knight
Article

DOE’s AFFO Announces Intent To Award Up To $60 Million For Innovative Chemical, Fuel, And Fertilizer Technologies

The U.S. Department of Energy's Alternative Fuels and Feedstocks Office plans to award up to $60 million for projects that expand domestic energy production through innovative chemicals, fertilizers, fuels, and feedstock technologies. The funding opportunity will focus on three key areas: biointermediate depots, refinery integration with alternative feedstocks, and hydrogen/natural gas blending pilot sites. Applications are expected to open in November 2026 for research, development, and scale-up projects l
United StatesEnergy and Natural Resources
Bergeson & Campbell
Bergeson & Campbell
Article

President Trump Signs Legislation Enacting Phased Elimination Of Federal Tax Credits For New Clean Energy Projects; Directs Treasury To "Strictly Enforce" Credit Termination For Solar And Wind Facilities

The Act restores the ITC eligibility of qualified fuel cell property that begins construction after 2025. Under the IRA, qualified fuel cell property was required to have begun construction prior to 2025 in order to be eligible for the ITC.
United StatesEnergy and Natural Resources
Simpson Thacher & Bartlett LLP
Simpson Thacher & Bartlett LLP
Article

California Enacts Seven Data Center Bills, Effective January 1, 2027: New Tariff, Entitlement, And Disclosure Rules For Hyperscalers, Developers, And Power Producers

California Governor Newsom signed seven data center bills into law on September 21, 2026, establishing a comprehensive regulatory framework that takes effect January 1, 2027. These bills create new tariff regimes administered by the California Public Utilities Commission, impose extensive reporting requirements on data center operators, and establish water disclosure mandates and CEQA treatment protocols.
United StatesEnergy and Natural Resources
Foley & Lardner LLP
Foley & Lardner LLP
Article

More Rigs Than A Year Ago, Higher Costs, And Service Prices That Haven’t Caught Up

Oilfield service firms responding to the Dallas Fed Energy Survey for the third quarter of 2026 reported substantially broader increases in input costs than in the prices they received. The input-cost index was 60.4, compared with a prices-received index of 16.3. Each index represents the percentage of respondents reporting an increase minus the percentage reporting a decrease.
United StatesEnergy and Natural Resources
Foley & Lardner LLP
Foley & Lardner LLP
Article

DOE Seeks Public Comment On Bulk-Power System Executive Order

The U.S. Department of Energy is seeking public input on implementing Executive Order 14421, which grants sweeping authority to restrict foreign-produced electric equipment in the nation's bulk-power system. With broad implications for utilities, manufacturers, and energy infrastructure projects, stakeholders have until October 9, 2026, to shape regulations that could fundamentally alter supply chains and equipment procurement across the electric grid.
United StatesEnergy and Natural Resources
Holland & Knight
Holland & Knight