TVA, 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 Drop Sharply - U.S. crude oil inventories fell by 5.4 million barrels in the week ended November 11 to 435.4 million barrels, the U.S. Energy Information Administration (EIA) said on Wednesday. U.S. gasoline stocks rose by 2.2 million barrels in the week to 207.9 million barrels. Distillate stockpiles rose by 1.1 million barrels to 107.4 million barrels. (Reuters)

NATURAL GAS
U.S. Natural Gas Gains 3% - U.S. natural gas futures closed about 3% higher on Wednesday as colder midday weather forecasts outweighed news a few liquefied natural gas (LNG) vessels turned away from the Freeport LNG (Houston, Texas) export plant in Texas in recent days and expectations its restart will be delayed. Until late last week, Freeport had said repeatedly the plant remained on track to return to service in November. In comments made in recent days, however, the company did not mention a restart date. Front-month gas futures rose 16.6 cents, or 2.8%, to settle at $6.200 per million British thermal units. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Plant Database can click here for the Freeport plant profile. (Reuters)

POWER
TVA Quarterly Net Income Down - Tennessee Valley Authority (TVA) (Knoxville, Tennessee) reported third-quarter 2022 net income of $1.11 billion, compared with $1.51 billion in the corresponding period of 2021. (PR Newswire)

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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).