Read the Latest News Affecting the Tank & Terminal Industry

API Data Reportedly Show Weekly Declines in U.S. Crude and Gasoline Prices
TD Ameritrade, July 27
U.S. crude supplies declined by 4.7 million barrels and gasoline inventory fell by 6.2 million barrels for the week ended July 23, according to a report from the American Petroleum Institute. Distillates showed a decline of 1.9 million barrels. Data released by the Energy Information Administration this Wednesday are expected to show a crude inventories decline of 2.5 million barrels on average, according to a recent survey of analysts by S&P Global Platts.

EIA Predicts Steep Growth in U.S. Renewable Diesel Capacity
Biomass Magazine, July 22
The U.S. Energy Information Administration forecasts strong growth for U.S. renewable diesel production capacity, driven in part by federal and state renewable fuel programs and renewable diesel production incentives. By 2024, renewable diesel production capacity could represent 5 percent of all diesel production across the U.S., according to the EIA.

Inter Pipeline: Arrangement Agreement Between Inter Pipeline and Pembina Terminated
Market Screener, July 26
Inter Pipeline announced that its Board of Directors would not recommend that shareholders vote in favor of the company's Arrangement Agreement with Pembina. The plan of arrangement has therefore been terminated, effective July 25, and Inter Pipeline will pay a termination fee of $350 million to Pembina.

Can Biden Pull Off Railroad Reform?
Material Handling & Logistics, July 23
A recent competition executive order by President Biden stands to benefit both freight railroads and their customers, but it may be difficult to carry out effectively. The order, titled "Promoting Competition in the American Economy," covers 72 directives across a wide range of industries, and includes a number of recommendations for the Surface Transportation Board (STB) to help bolster freight rail competition.

Oil Rises Despite First Rise in U.S. Oil Inventories in Nine Weeks, Higher Supplies and Rising COVID-19 Cases
Market Screener, July 21
Despite rising supplies, growing inventories and new COVID-19 Delta variant restrictions, oil prices continue their upward drive despite a report from the American Petroleum Institute that showed an oil inventory rise of only 0.8 million barrels, the first shortage rise in nine weeks.

U.S. Crude Oil Exports Reached Record Levels in 2020 and Remain High in 2021
Today in Energy, July 20
U.S. oil exports reached a record high in 2020, despite global market turmoil. Since July 9, U.S. crude exports have averaged 3.00 million bpd, with a four-week rolling average of just over 3.51 million bpd, according to the U.S Energy Information Administration’s Weekly Petroleum Status Report.

Democrats Dig in on Climate Spending
Politico, July 15
Revealing a few key climate goal details, Senate Democrats announced a $3.5 trillion budget plan on Wednesday, less than expected from many Progressives, but considered to be "significant down payments on badly needed priorities," according to House Natural Resources Chair Raúl Grijalva.

ECSL Announces That Its Subsidiary, CyberFuels, Inc., Has Executed a Purchase and Sale ...
AP, July 12
EncounterCare Solutions wholly owned subsidiary, CyberFuels, Inc. has completed a Purchase and Sale Agreement for 65-plus acres of land inside the Port of Tampa for CyberFuels' new, environmentally friendly, state-of-the-art fuel blending and distribution terminal.