U.S. Crude Oil Stocks, Power Use: 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 Decrease - U.S. crude oil inventories fell by 451,000 barrels in the week ending June 2, the U.S. Energy Information Administration (EIA) said. Gasoline stocks rose by 2.7 million barrels in the week. Distillate stockpiles rose by nearly 5.1 million barrels. (Reuters)

POWER
U.S. Power Use to Slide in 2023 - U.S. power consumption will ease in 2023 from last year's record high as slower economic growth and milder weather depress usage, the EIA said in its Short-Term Energy Outlook on Tuesday. The EIA projected that power demand will slide from a record 4,048 billion kilowatt-hours (kWh) in 2022 to 4,010 billion kWh in 2023, before rising to 4,067 billion kWh in 2024 as economic growth ramps up. (Reuters)

NATURAL GAS
U.S. Natural Gas Climbs on Warmer Weather - U.S. natural gas futures climbed 3% to a one-week high on Wednesday, as forecasts for warmer weather bolstered the demand outlook for the fuel. Front-month gas futures for July delivery on the New York Mercantile Exchange rose 6.7 cents, or 3%, to settle at $2.329 per million British thermal units. (Reuters)

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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).