Trans Mountain Corporation, U.S. Crude Oil Stocks: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

CRUDE OIL
U.S. Crude Oil Stocks Up -- U.S. crude oil inventories rose by 5.5 million barrels in the week ending August 5 to 432 million barrels. The increase was driven by a 5.3 million-barrel release from U.S. strategic reserves. U.S. gasoline stocks fell by 5 million barrels in the week. Distillate stockpiles rose by 2.2 million barrels. (Reuters)

CORPORATE
Canada's Trans Mountain Corporation Names New CEO - Canadian government-owned pipeline operator Trans Mountain Corporation (Calgary, Alberta) named Dawn Farrell, former top boss of electricity firm TransAlta Corporation (NYSE:TAC) (Calgary), as its chief executive officer and president on Wednesday. Farrell will take over from interim president Rob Van Walleghem on August 15 and inherits a company struggling with ballooning costs and lengthy delays as it builds the Trans Mountain expansion project. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here for related project reports. (Reuters)

NATURAL GAS
U.S. Natural Gas Jumps 5% - U.S. natural gas futures jumped nearly 5% to a one-week high on Wednesday. Front-month gas futures rose 36.9 cents, or 4.7%, to settle at $8.202 per million British thermal units, their highest since Aug. 3. So far this year, the front-month is up about 121% as much higher prices in Europe and Asia feed strong demand for U.S. LNG exports. (Reuters)

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About Industrial Info
Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.