U.S. Crude Oil Exports, Alaska Sues U.S.: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

CRUDE OIL
U.S. Crude Oil, Fuel Stocks Decline - U.S. crude oil inventories fell by 12.2 million barrels to 448.5 million barrels in the week ending June 28, the U.S. Energy Information Administration (EIA) said on Wednesday. U.S. gasoline stocks fell by 2.2 million barrels in the week to 231.7 million barrels, the EIA said. Distillate stockpiles fell by 1.5 million barrels in the week to 119.7 million barrels. (Reuters)

U.S. Crude Oil Exports to Europe Hit Two-Year Low in June - U.S. crude oil shipments bound for Europe fell to a two-year low in June as European buyers bought cheaper regional and West African oil, traders and analysts told Reuters. Exports of U.S. crude to Europe slowed to 1.45 million barrels per day last month, the lowest for any month since July 2022, according to data from ship tracking firm Kpler. That marks a 14% decline from May and is down 27% from June 2023. (Reuters)

GOVERNMENT
Alaska Sues U.S. Over Lost Drilling Revenues - Alaska has sued the U.S. federal government, seeking to recover revenues it lost out on after President Joe Biden's administration canceled oil and gas drilling leases in the federal Arctic National Wildlife Refuge. The state in a lawsuit filed on Tuesday in the U.S. Court of Federal Claims said the cancellation of the leases issued during Republican former President Donald Trump's administration cost it hundreds of millions, if not billions, of dollars. (Reuters)

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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).