Senate Passes Credentialing Reform Bill Championed by ATA

Futures in New York were little changed after slumping 2.4 percent Monday. Inventories probably dropped by about 3.5 million barrels last week, according to a Bloomberg survey before an Energy Information Administration report on Wednesday. Libya has stopped loadings from its biggest oil field, while Venezuela’s exports also declined in the first half of August. “Right now, we are seeing a draw on the U.S. inventory stocks,” said Michael Poulsen, an analyst at Global Risk Management Ltd. As “the driving season is coming to an end, the question is if the latest draws in U.S. inventories will continue.” U.S. crude stockpiles have declined by almost 43 million barrels since the end of June, according to the Energy Information Administration. While inventories have eased, oil production has increased to the highest since July 2015. Output from major shale fields is also forecast to climb to a record next month. Click Read More below for additional detail.

UPM Energy answers to the urgent need for power flexibility with a revolutionary energy optimisation and trading service, Beyond Spot, helping industrial businesses thrive in the energy market disruption. The service helps industrial companies solve the most common pain points of energy management: energy cost optimisation and risk management. At the same time, it answers the growing need for flexible power to balance the power grid due to the fast increase in the supply of renewable energy. The energy market is in the middle of disruption. Tightening climate goals push countries to shift towards renewable energy, which pushes the power prices down and shakes up the market dynamics. The increase in renewable energy creates dramatic fluctuations in energy supply, posing significant financial risks for large energy consumers and causing new challenges for electricity grids. In order to cope with the volatile renewable energy supply, investments in electricity grids are required, but part of the solution lies in more efficient use of flexible consumption assets through energy optimisation. Regulators and transmission system operators also aim for better balancing of supply and demand with the help of new regulation such as the fifteen-minute imbalance settlement coming in 2023 in the Nordics.

American Dollar to Canadian Dollar = 0.794482; American Dollar to Chinese Yuan = 0.157135; American Dollar to Euro = 1.086482; American Dollar to Japanese Yen = 0.008042; American Dollar to Mexican Peso = 0.049716.