U.S. Power Use, Crude Oil Stocks: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

POWER
U.S. Power Use to Record High in 2022 - U.S. power consumption is on track to rise to record highs in 2022 and 2023 as the economy grows, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook on Tuesday. The agency projected power demand will climb to 4,022 billion kilowatt-hours (kWh) in 2022 and 4,045 billion kWh in 2023 from 3,930 billion kWh in 2021. (Reuters)

CRUDE OIL
U.S. Crude Oil, Fuel Stockpiles Rise -- U.S. crude oil inventories rose by 3.3 million barrels in the week to July 8 to 423.8 million barrels. U.S. gasoline stocks rose by 5.8 million barrels in the week to 219.1 million barrels. Distillate stockpiles rose by 2.7 million barrels. (Reuters)

NATURAL GAS
U.S. Natural Futures Jump 9% on Hotter Forecasts - U.S. natural gas futures jumped almost 9% to a three-week high on Wednesday on a drop in daily gas output over the past few days and forecasts for hotter weather and more demand over the next two weeks than previously expected. Front-month gas futures for August delivery on the New York Mercantile Exchange rose 52.6 cents, or 8.5%, to settle at $6.689 per million British thermal units, their highest close since June 22. (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 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.