OG Oil Gas Energy News: Navigating Volatility and Opportunity in the Global Energy Landscape (May 23, 2025)

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OG Oil Gas Energy News: Navigating Volatility and Opportunity in the Global Energy Landscape (May 23, 2025)

Welcome to this comprehensive energy market update from OG Oil Gas Energy News, your source for the latest insights into oil and gas industry trends, global energy outlooks, and crucial energy policy updates. Drawing on over 20 years of collective oilfield experience, we bring you the essential energy market news to help you stay ahead. This report covers significant developments impacting crude oil price trends, gasoline and diesel prices, nuclear power development, renewable energy investment news, and the future of transportation fuels from May 15th to May 23nd, 2025.

US Fuel Prices See Uptick Amidst Shifting Economic Signals

In the realm of US energy security and everyday costs, gasoline prices across the United States have resumed an upward trend after a brief pause. According to GasBuddy data compiled from over 12 million price reports, the national average price for unleaded gasoline recently climbed 6.1 cents in a week, reaching $3.14 per gallon.... This figure is up 1.9 cents from a month ago but remains down 41 cents from a year ago. AAA reported a similar rise, with the national average hitting $3.13 per gallon, an increase of 4 cents from the prior week....

Although Americans are still experiencing significant savings compared to a year ago, this gap has narrowed as oil prices have rebounded.... Factors contributing to this recent rise in gasoline and diesel prices include optimism following President Trump's decision to reduce tariffs and pursue new trade deals.... These actions inspired hope that a major tariff-induced economic slowdown might be avoided, contributing to broader upward pressure on prices.... Rising oil prices, fueled by this economic optimism and tightening gasoline inventories, have impacted prices across over three-quarters of U.S. states.

Nationally, the most common U.S. gas price encountered by motorists stood at $2.99 per gallon, unchanged from the previous week. However, the median U.S. gas price was $2.99 per gallon, up 8 cents from the week prior. States with the lowest average prices included Mississippi ($2.63), Tennessee ($2.68), and Louisiana ($2.69), while those with the highest averages were California ($4.86), Hawaii ($4.41), and Washington ($4.28)5.

The national average price of diesel has also increased, rising 2.9 cents in the last week to stand at $3.502 per gallon. The median U.S. diesel price is $3.39 per gallon, up 3 cents from last week.

Looking at supply dynamics, the EIA's Weekly Petroleum Status Report for the week ending May 9, 2025, indicated that U.S. oil inventories rose by 3.5 million barrels.... Despite this increase, inventories were still about 6% below the seasonal average for this time of year.... Gasoline inventories fell by 1.0 million barrels and are 3% below the five-year seasonal average, while distillate inventories dropped by 3.2 million barrels and stand about 16% below the five-year seasonal average.... Refinery utilization saw an increase of 1.2 percentage points to 90.2%....

Global Crude Oil Market Dynamics: Tariff Easing Sparks Rally, Other Factors Limit Gains

In the global crude oil market analysis, energy markets saw a notable rally last week, initially spurred by the de-escalation of US-China trade tensions.... Oil prices rose for a second consecutive week following an agreement between the US and China to temporarily reduce tariffs, which helped alleviate recession fears.... This deal involved the US reducing tariffs on imports from China and China reducing tariffs on imports from the US for 90 days, allowing trade negotiations to continue.... Analysts noted that "Enthusiasm stemming from progress in US-China relations has enabled oil prices to recover".

However, this rally has faced headwinds and volatility.... Global crude oil prices have seen volatility influenced by various factors... Reactions abroad to the U.S. trade situation, continued limited economic growth data from China, and varying prospects for a ceasefire between Russia and Ukraine have all played roles.... News of progress in talks regarding Iran's nuclear program also prevented further significant gains.... If sanctions were lifted, it could allow Iran to increase oil production by around 400,000 barrels per day.... Furthermore, the decision by the Organization of the Petroleum Exporting Countries (OPEC) to increase production in June has also served to limit higher oil price increases.... Despite these factors creating short-term price wavering, the long-term outlook appears more solid due to projected rises in global oil demand....

On Monday, May 19, 2025, WTI crude was trading down 41 cents to $62.08 per barrel, down from the previous Monday's $62.69 per barrel level. Brent crude was also down 50 cents to $64.91 per barrel, down from the previous Monday's $65.58 per barrel fetch. Note: As an AI, I cannot provide real-time or up-to-the-minute prices for May 22, 2025, but the sources indicate prices around these levels earlier in the week.

(As an AI, I cannot generate a dynamic chart or graph here. However, based on the sources, oil prices saw a rally last week due to the US-China trade deal, building on the prior week's gains. This week, they experienced some volatility, with WTI and Brent prices slightly down on Monday compared to the previous Monday, influenced by factors like the Moody's downgrade, China data, Iran talks, and OPEC output increases.)

OPEC's strategies and US tariffs remain pivotal amidst this market volatility.... In a related move highlighting market adjustments, Saudi Aramco reportedly slashed propane and butane prices for May.... Even though OPEC's crude output slightly dipped in April, the Energy Information Administration's projection of a 26.9 million barrels per day average supply over the next few years reflects anticipation of rising global oil consumption.

Broader Energy Landscape Developments: Nuclear Ambitions, Renewable Investments, and Emission Policies

Beyond traditional oil and gas market news, the broader energy landscape is seeing significant developments impacting the global energy market outlook.

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Boosting US Nuclear Power: In the United States, a bipartisan group of lawmakers has introduced a bill aimed at boosting US nuclear power. This initiative is driven, in part, by concerns over China and Russia's growing influence on international nuclear energy development.... The US currently possesses the most nuclear power capacity globally, but China is rapidly developing domestic reactors, and Russia is securing deals in Southeast Asia and other regions... Proponents of the bill, including Republican Senators Jim Risch and Mike Lee and Democratic Senators Martin Heinrich and Chris Coons, emphasize the strategic importance of US leadership in nuclear energy.... Senator Risch stated, "If the U.S. doesn't lead on nuclear energy development, Russia and China will," adding that nuclear power provides the U.S. "tools we need to compete with these authoritarian aggressors". Senator Lee commented that "Achieving American energy dominance will require us to streamline our nuclear exports, foster our relationships abroad, and bring the full weight of American industry to bear in out-competing our geopolitical adversaries". The proposed International Nuclear Energy Act would support an office dedicated to boosting nuclear exports, financing, regulatory harmonization, and licensing standardization.... It would also work to set up a fund financing projects key to national security and require a cabinet-level biennial summit on safety, security, and industry-government relationships.... Both parties support nuclear power amid forecasts that electricity demand will surge for years from artificial intelligence data centers. While nuclear power is virtually carbon-free and provides high-paying jobs, development of reactors is plagued with delays, high costs, and produces radioactive waste.

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Accelerating European Renewables: In Europe, there is continued investment in renewable energy infrastructure, specifically in European energy storage projects and solar PV. Enfinity Global recently announced the successful closing of a significant bond facility of up to €100 million with Eiffel Investment Group.... This financing aims to accelerate the deployment of Enfinity's energy storage and solar PV projects across Europe, particularly focusing on Italy and the UK.... This transaction is notable as it marks the company's first financing of its battery energy storage system (BESS) portfolio in Europe. Enfinity Global is developing a large 6.4 GW BESS pipeline in Europe, including 5.1 GW in Italy and 1.3 GW in the UK.... Energy storage is a key component of Enfinity's strategy to deliver 24/7 renewable energy solutions to corporate and industrial customers while contributing to grid resilience. Carlos Domenech, CEO of Enfinity Global, expressed gratitude to Eiffel Investment Group for supporting their Italian platform's growth, noting that the future of competitive low carbon energy solutions relies on innovation in technologies and financings supported by market leaders. Pierre-Antoine Machelon, head of Infrastructure Funds at Eiffel Investment Group, stated, "Building a long-term relationship while structuring a tailor-made financing is at the heart of Eiffel DNA. This transaction highlights our commitment to providing financial solutions to accelerate the decarbonization in Europe". Enfinity Global has currently secured €865 million for Europe through multiple debt agreements. The company ranks among Italy's top 10 independent power producers (IPP) by installed capacity and leads Italy's solar PPA market. Jean-Charles Arrago, head of Eiffel Infrastructure debt strategy, commented that the facility will accelerate the rollout of 24/7 renewable electricity production capacity in Italy.

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Policies to Cut Road Transport Emissions: A new global study highlights the potential for smart policies addressing road transport emissions to yield dramatic health benefits. Research conducted by the International Council on Clean Transportation (ICCT), the George Washington University, and the University of Colorado Boulder reveals that such policies could save 1.9 million lives and prevent 1.4 million new children's asthma cases worldwide by 2040. This translates to preventing 310 premature deaths and 230 new children's asthma cases per day over the next 15 years. The study assessed health impacts from various measures, including Euro 6/VI and Euro 7 equivalent emission standards, an accelerated transition to electric vehicles (EVs), and accelerated fleet renewal. The data demonstrates that implementing complementary policy measures, particularly combining Euro 6/VI standards with an electric vehicle transition, delivers substantially greater health benefits than single-policy approaches.... For example, combining Euro 6/VI standards with EV policies could avoid an additional 323,000 premature deaths and 419,000 new asthma cases in children globally compared to focusing on EVs alone. Ensuring EVs don't increase electricity grid emissions could prevent an additional 212,000 premature deaths and 98,000 new asthma cases in children compared to implementing vehicle-related policies alone. Key findings from the study include:

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Road transport emissions are responsible for an estimated 252,000 new asthma cases in children in 2023, representing about one-fifth of all new asthma cases in children linked to nitrogen dioxide pollution.

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Without further policy action, health disparities across regions will widen significantly, with projected increases in premature deaths and asthma cases in least developed countries.

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Children under 5 years old are projected to account for 50% of avoidable new asthma cases in children from NO2 exposure, while adults aged 65 and older account for 70% of global avoidable years of life lost.

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Urban areas are particularly vulnerable, accounting for two-thirds of avoidable new children's asthma cases globally despite housing only one-third of the world's children.

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Researchers noted that combining advanced atmospheric modeling with high-resolution satellite data allowed for a granular assessment of policy impacts down to the square kilometer, representing a significant advancement in guiding informed policy decisions. This research highlights the urgency for coordinated global action to ensure all communities benefit from cleaner transportation. The evidence is clear: implementing a strategic combination of emission standards, EV policies, fleet renewal, and clean electricity generation will save nearly 2 million lives globally. "Policymakers must act on this evidence now in order to protect public health," stated Sheila Watson of FIA Foundation, a co-funder of the work. This signals a future trajectory involving reduced demand for gasoline and diesel as vehicle fleets transition and emission standards tighten globally....

The palm oil market is also experiencing volatility influenced by trade tensions between the US and China as well as OPEC’s decision to increase crude oil output. Palm oil prices are expected to range between 3,750 to 4,050 ringgit in May before gradually recovering. Factors like the reduction in palm oil import duty by India and improved price competitiveness in China are expected to enhance demand.... However, compressed margins are restricting biodiesel blending globally, dampening overall demand in that sector.

Oil Price Current Summary: Week of 05/23/2025

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On a "Monday" (implicitly May 19 or May 20, 2025, as reported on these dates), WTI crude was $62.08 per barrel, down 41 cents from the previous Monday's $62.69 per barrel level1. Brent crude was $64.91 per barrel, down 50 cents from the previous Monday's $65.58 per barrel fetch.

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In the week prior to May 20, 2025, oil prices rose for the second week in a row. During that week, the price of a barrel on the London market (Brent) increased by 2.4% to $65.41, while on the American market (WTI), a barrel rose by 2.35% to $62.49.

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Energy markets experienced a notable rally initially spurred by the de-escalation of US-China trade tensions.... Optimism following President Trump's decision to reduce tariffs and pursue new trade deals inspired hope that a major tariff-induced economic slowdown might be avoided, contributing to rising oil prices....

•

Higher gains in oil prices were prevented by news of progress in talks on Iran's nuclear program, as the lifting of sanctions could allow Iran to increase oil production by around 400,000 barrels per day....

•

The decision by the Organization of the Petroleum Exporting Countries (OPEC) to increase production in June also served to limit higher oil price increases....

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The rally faced headwinds after Moody's downgraded the U.S. credit rating and new data from China showed slowing growth in industrial output and retail sales. The weaker than expected Chinese data was described as "not helping crude oil".

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Global crude oil prices have seen a higher level of volatility over the last several months as traders digest the trade situation in the U.S. and reactions abroad, continued limited growth in China, varying prospects for a ceasefire between Russia and Ukraine, and a potential Iran nuclear deal....

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OPEC's strategies and US tariffs are considered pivotal amidst this market volatility. Saudi Aramco reportedly slashed propane and butane prices for May to adapt to market changes...

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Although short-term prices might waver, the long-term outlook appears solid due to the projected rise in global oil demand9. The Energy Information Administration (EIA) projects an average supply of 26.9 million barrels per day over the next couple of years, anticipating rising global oil consumption.... Global oil consumption is predicted to increase by 1.3 million barrels per day over the next couple of years.

Energy Markets, Health Policies, and Geopolitics

Timeline of Main Events:

• Week ending May 9, 2025:

• US oil inventories rose by 3.5 million barrels.

• US gasoline inventories fell by 1.0 million barrels.

• US distillate inventories fell by 3.2 million barrels.

• US refinery utilization rose by 1.2 percentage points to 90.2%.

• Implied US gasoline demand (EIA proxy for retail demand) rose to 8.794 million barrels per day.

• The Strategic Petroleum Reserve (SPR) rose by 500,000 barrels to 399.7 million barrels.

• May 16, 2025: The price gap between palm olein and soybean oil in China's domestic market narrowed to $51.

• May 19, 2025:

• A new global study on the health benefits of policies targeting road transport emissions is released.

• The study projects that smart policies could save 1.9 million lives and prevent 1.4 million new children's asthma cases globally by 2040.

• It highlights the significant health benefits of combining emission standards (like Euro 6/VI) with an accelerated transition to electric vehicles and clean electricity generation.

• The study notes that road transport emissions were responsible for an estimated 252,000 new asthma cases in children in 2023.

• US Senators Jim Risch (Republican), Mike Lee (Republican), Martin Heinrich (Democrat), and Chris Coons (Democrat) introduce the International Nuclear Energy Act.

• This bill aims to boost US nuclear power and counter the growing influence of China and Russia in international nuclear energy development.

• The national average price of unleaded gasoline in the US rises by 6.1 cents in a week, reaching $3.14 per gallon (according to GasBuddy).

• The national average price of diesel increases by 2.9 cents in the last week to $3.502 per gallon (according to GasBuddy).

• Gas prices in Laramie County, Wyoming, jump 5 cents to $3.03 per gallon.

• May 20, 2025:

• Enfinity Global announces the closing of a bond facility of up to €100 million with Eiffel Investment Group.

• This financing is to support the deployment of Enfinity Global's energy storage and solar PV projects across Europe, particularly in Italy and the UK.

• This marks Enfinity Global's first financing of its battery energy storage system (BESS) portfolio in Europe.

• On world markets, oil prices rose for the second consecutive week, driven by hopes that a US-China trade agreement would help avoid a recession.

• The US reduced tariffs on imports from China from 145% to 30%, and China reduced tariffs on imports from the US from 125% to 10% for 90 days to allow trade negotiations to continue.

• Brent crude oil price is $64.91 per barrel, down 50 cents from the previous Monday.

• WTI crude oil price is $62.08 per barrel, down 41 cents from the previous Monday.

• AAA reports the national average price for a gallon of regular gasoline is $3.13, up 4 cents from last week.

• The average gasoline price in Wyoming is $3.15, up 2 cents.

• Natrona County, Wyoming, has the cheapest gasoline in the state at $2.83 per gallon.

• The Malaysian Palm Oil Council (MPOC) states that crude palm oil prices are expected to range between 3,750 and 4,050 ringgit in May before recovering.

• May 21, 2025: South African President Cyril Ramaphosa is scheduled to visit the White House to meet with President Donald Trump.

• Prior to May 20, 2025: OPEC decided to increase production in June.

• Over the last several months: Global crude oil prices have experienced a higher level of volatility due to the US trade situation, China's limited growth, and varying prospects for a ceasefire between Russia and Ukraine and an Iran nuclear deal.

• First four months of 2025:

• Sub-Saharan Africa was the leading destination for Malaysian palm oil exports, with a 24% increase.

• The ASEAN region recorded an 8% growth in Malaysian palm oil exports.

• Exports of Malaysian palm oil to other regions declined.

• First two months of 2025: Biodiesel consumption in Indonesia remained stable.

• March and April 2025: Subdued export performance in these months drove an increase in palm oil stocks.

• March 2025 (early): Delayed harvesting in Malaysia was caused by the monsoon season.

• 2024: Enfinity Global signed one-third of all new solar capacity contracted in Italy.

• Over the next couple of years: The Energy Information Administration (EIA) projects an average supply of 26.9 million barrels per day, anticipating rising global oil consumption.

• Through 2040: The new ICCT study projects significant health benefits from policies targeting road transport emissions.

Cast of Characters:

• Donald Trump: President of the United States. His administration has debated executive orders to boost control over nuclear reactor project approvals and seeks assessments on nuclear waste recycling. His decision to reduce tariffs and pursue new trade deals contributed to optimism in energy markets and rising gasoline prices. He is also mentioned as meeting with South African President Cyril Ramaphosa.

• Jim Risch: Republican U.S. Senator and sponsor of the International Nuclear Energy Act. He emphasizes the need for US leadership in nuclear energy development to compete with Russia and China.

• Mike Lee: Republican U.S. Senator and sponsor of the International Nuclear Energy Act. He advocates for streamlining US nuclear exports and fostering international relationships to achieve American energy dominance.

• Martin Heinrich: Democrat U.S. Senator and sponsor of the International Nuclear Energy Act. He supports boosting US nuclear power.

• Chris Coons: Democrat U.S. Senator and sponsor of the International Nuclear Energy Act. He supports boosting US nuclear power.

• Carlos Domenech: CEO of Enfinity Global. He expressed gratitude to Eiffel Investment Group for supporting the growth of their Italian platform and highlighted the importance of innovation in low-carbon energy solutions.

• Pierre-Antoine Machelon: Head of Infrastructure Funds at Eiffel Investment Group. He expressed pride in supporting Enfinity Global's growth and emphasized Eiffel's commitment to tailor-made financing to accelerate decarbonization in Europe.

• Julio Fournier Fisas: General Manager of Enfinity Global for Europe. He commented on Enfinity Global's expanding renewable energy footprint and their partners who share their vision.

• Jean-Charles Arrago: Head of Eiffel Infrastructure debt strategy. He expressed happiness in accompanying top-performing companies like Enfinity Global and noted that the financing facility will accelerate the rollout of 24/7 renewable electricity production capacity in Italy.

• Klark Byrd: Managing Editor at Cap City News and author of the article on rising gas prices in Cheyenne, Wyoming.

• Patrick De Haan: Head of petroleum analysis at GasBuddy. He provided commentary on the reasons for rising gasoline prices in the US, including the impact of President Trump's trade decisions and tightening gasoline inventories.

• Giovanni Staunovo: UBS analyst. He provided a comment to Reuters regarding the impact of weaker than expected Chinese data on crude oil prices.

• Harry Tchilinguirian: Analyst at Onyx Capital Group. He commented on how progress in US-China relations helped oil prices recover.

• Lingzhi Jin: Lead author of the ICCT study on health benefits of policies targeting road transport emissions. He emphasized that policy choices made today have profound implications for public health outcomes.

• Dr. Daven Henze: Co-author and Professor at the University of Colorado Boulder. He highlighted the study's ability to assess policy impacts at a granular level globally using advanced modeling and satellite data.

• Dr. Susan Anenberg: Co-author and Professor at George Washington University. She spoke about the opportunity to improve health by reducing vehicle tailpipe pollution and the urgent need for global action.

• Sheila Watson: Deputy Director of FIA Foundation, a co-funder of the ICCT study. She stated that the study's evidence is clear and policymakers must act to protect public health.

• Sead Dedovic: Author of the article "Oil rises for second consecutive week after US-China deal."

• Cyril Ramaphosa: President of South Africa. He is scheduled to visit the White House to meet with President Trump.

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