West Texas Intermediate crude oil trades down 4.2% at $50.95 per barrel as of 1:54 p.m. ET after the latest inventory data from the Department of Energy showed supplies rose by 8.21 million barrels to 528.4 million barrels. That’s the highest since record keeping began in 1982 , according to Bloomberg.
Category: Department of Energy
Price freeze on petroleum products takes effect in quake-hit Surigao
THE Department of Energy said that it is imposing “price freeze” on petroleum products in earthquake-hit Surigao province. This as Energy Secretary Alfonso Cusi ordered the concerned agencies to ensure “adequate, reliable and secure” supply of energy and to “execute fair pricing of petroleum products,” such as gasoline, diesel, kerosene and liquefied petroleum gas .
Study indicates air-polluting chemicals can travel far
A new study indicates that tiny floating particles can grow semi-solid around pollutants, allowing them to last longer and travel much farther than what previous global climate models predicted. Pollutants from fossil fuel burning, forest fires and biofuel consumption include air-polluting chemicals known as polycyclic aromatic hydrocarbons, or PAHs.