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Oil prices rally on falling Cushing supplies

Oil prices rally on falling Cushing supplies

Oil prices jumped Wednesday as government data showed that inventories at Cushing, Oklahoma, the delivery point for the U.S. contract, dropped for the first time in months. Inventories at Cushing, the storage hub, fell 510,000 barrels to 61.68 million barrels in the week ended April 24, said Energy Information Administration (EIA) on Wednesday in its weekly report. The lower crude inventory build boosted market expectations of an ea... >>

Chemical News

  • Tangram Technology assesses IR savings

    Tangram Technology assesses IR savings

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  • Steel mills backed by falling iron ore prices

    Steel mills backed by falling iron ore prices

    Plunging iron ore prices are providing a lifeline for some of China's biggest steel mills, but raising the prospect of a rising tide of exports and increased friction with the EU and countries such as India. Even as China's domestic steel demand shrinks and the industry battl...>>>

  • China speeds up fuel quality upgrading for better air 04/30

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    The Raven Aerostar division of US-based Ravenstar Industries has been partnering with Nasa on the design of stratospheric balloons for more than 20 years. In their latest effort, Nasa launched a super pressure balloon late last month carrying a two-and-half ton payload from the mid-latitudes in Wanaka, New Zealand. It was still flying this week and t...>>>

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    Plastic tarpaulins to build shelters and solar-powered lamps have been flown to Nepal as pleas for emergency relief supplies grew. The 7.8-magnitude earthquake killed at least 4,200, mostly in Nepal but also in India and China, and injured at least 7,000. It left tens of thousands more homeless, especially outside of Kathmandu, the capital city of Ne...>>>

  • Europe phasing out lightweight plastic bags 04/30

    European Union (EU) countries will be required to reduce the use of the commonest and most polluting plastic bags under new rules voted by the Parliament on Tuesday. Member states will be able to choose either to take measures to reduce annual average consumption of non-biodegradable plastic bags to 90 lightweight bags per citizen by the end of 2019 ...>>>

  • China to roll back electric car subsidies 04/30

    China will scale back its subsidies for electric and plug-in hybrid vehicles faster than expected, while declining to give subsidies to traditional hybrids, according to policy documents posted on the finance ministry's website on Wednesday. The final version of the policy largely confirmed a previously released draft in setting levels for new-energy...>>>