Latest news with #EnergyInformationAdministration
Reuters
2 days ago
- Business
- Reuters
US crude oil output hit record high in March, while demand fell, says EIA
May 30 (Reuters) - U.S. crude oil output rose to a monthly record high in March, while demand for oil products declined to the lowest in a year, the U.S. Energy Information Administration (EIA) said in its Petroleum Supply Monthly (PSM) report on Friday. U.S. crude output rose to 13.488 million barrels per day (bpd) in March, up from 13.159 million bpd in February and the prior all-time high of 13.450 million bpd in October 2024. U.S. product supplied of crude oil and petroleum products, a measure of demand, fell to a 12-month low of 19.950 million bpd in March, down from 20.225 million bpd in February. That was the lowest product supplied since March 2024 and compares with a monthly record high of 21.666 million bpd in August 2005.
Yahoo
3 days ago
- Business
- Yahoo
2 No-Brainer High Yield Utility Stocks to Buy Right Now
Utilities are set to see an increase in demand thanks to AI, data centers, and EVs. Dominion Energy is a turnaround story, but one that is relatively low risk and relatively high yield. Black Hills is a Dividend King with a notably above-average yield. 10 stocks we like better than Dominion Energy › Stocks in the utility sector are known for providing investors with income and restful nights because of the regulated nature of the industry. But there's a change coming on the demand side of utilities that will help boost growth in what has long been a sleepy industry. Here's why you might want to buy high-yield utility stocks like Dominion Energy (NYSE: D) and Black Hills (NYSE: BKH) right now. In 2021, the Energy Information Administration put out a report saying it expected energy demand to increase by 22% between 2020 and 2040. That's a huge increase from the 9% growth in electricity demand experienced between 2000 and 2020. That 20-year estimate was raised again in 2024, jumping to 38% growth. And in 2025, the estimate rose again, to 55% growth. That's six times the increase that was seen in the previous 20-year period. The big driver behind this shift is threefold: Artificial intelligence (AI), data centers, and electric vehicles (EVs). Over the next decade, demand from AI and data centers is expected to increase by 300%. By 2050, demand from EVs is expected to rocket higher by 9,000%. This is a no-brainer opportunity for dividend investors because you don't have to do anything materially different to benefit. Utilities, a typical dividend investment, are attractive today, and it looks like they will be even more attractive in the future as they serve the increasing demand for power. Dominion Energy has been a difficult stock to appreciate for a few years. It cut its dividend as it revamped its portfolio of assets, slimming down to what is now just a pure-play electric utility. It is currently focused on reducing leverage and lowering its payout ratio so that it is more in line with industry peers. It will probably take a couple more years before the dividend is growing again. That's the bad news, and it's a big part of why the stock has a 4.7% dividend yield while the average utility is offering 2.9%. What's interesting about Dominion Energy is that it has a monopoly on the delivery of power in one of the largest data center markets in the world. It is seeing extremely strong demand for power from data center customers. This, plus a large offshore wind project that is in the works, is expected to support 5% to 7% annual earnings growth over the foreseeable future. If you buy today, you can collect a well-above-average yield while you wait for management to get the dividend growing again. When the dividend is growing again, Wall Street is likely to afford the stock a higher premium. This is a fairly low-risk turnaround story if you are willing to step aboard. Black Hills is at the other end of the dividend growth spectrum from Dominion. That's because Black Hills has increased its dividend annually for 55 consecutive years, making it a Dividend King. It is one of the few utilities to have achieved this level of dividend consistency, but it is relatively underfollowed on Wall Street because it has a tiny $4 billion market cap. Don't skip over this small utility, however, because it also has a well-above-average dividend yield of 4.6%. A high-yield Dividend King operating in a boring, regulated industry isn't something to miss out on. Especially as that industry is seeing increased demand. Black Hills expects growing demand in the markets it serves to lead to earnings growth of between 4% and 6% a year for the foreseeable future. That, in turn, should lead to a similar level of dividend growth. If slow and steady sounds good to you, Black Hills is a no-brainer investment idea to dig into. Utilities aren't known for being exciting investments, but the business model appears set to shift into a higher gear as electricity demand increases. Dominion Energy is a solid turnaround play on this theme, while Black Hills is a sleep well at night option for those who prefer less excitement. Before you buy stock in Dominion Energy, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Dominion Energy wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $639,271!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $804,688!* Now, it's worth noting Stock Advisor's total average return is 957% — a market-crushing outperformance compared to 167% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Reuben Gregg Brewer has positions in Black Hills and Dominion Energy. The Motley Fool recommends Dominion Energy. The Motley Fool has a disclosure policy. 2 No-Brainer High Yield Utility Stocks to Buy Right Now was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Argaam
3 days ago
- Business
- Argaam
US crude inventories fall 2.8M barrels last week
US crude oil inventories declined more than anticipated in the week ended May 23, signaling a rebound in US energy demand ahead of Memorial Day, according to data released by the Energy Information Administration (EIA) on Wednesday. Commercial crude inventories fell by 2.8 million barrels last week, compared to expectations for a rise of 600,000 barrels. Gasoline inventories also decreased by 2.4 million barrels, while distillate stocks—including diesel and heating oil— were down by 700,000 barrels.
Wall Street Journal
3 days ago
- Business
- Wall Street Journal
U.S. Crude Oil Stockpiles Fall More Than Expected
U.S. crude oil inventories fell more than expected last week as exports increased, and gasoline stocks declined amid a seasonal pickup in demand, according to data released Thursday by the U.S. Energy Information Administration. Commercial crude oil stocks excluding the Strategic Petroleum Reserve fell by 2.8 million barrels to 440.4 million barrels in the week ended May 23 and were about 6% below the five-year average for the time of year, the EIA said. Analysts surveyed by The Wall Street Journal had predicted crude stockpiles would fall by 600,000 barrels.
Reuters
3 days ago
- Business
- Reuters
US crude stocks, gasoline and distillate inventories fall
DENVER, May 29 (Reuters) - U.S. crude, gasoline and distillate inventories fell last week, the Energy Information Administration said on Thursday. Crude inventories fell by 2.8 million barrels to 440.4 million barrels in the week ending May 23, the EIA said, compared with analysts' expectations in a Reuters poll for a 118,000-barrel rise. Crude stocks at the Cushing, Oklahoma, delivery hub (USOICC=ECI), opens new tab rose by 75,000 barrels, the EIA said. Oil prices rose slightly after the EIA reported a surprise draw in stockpiles, but were still trading in negative territory. Global Brent crude futures were off 56 cents to $64.34 a barrel at 12:11 p.m. EDT (1611 GMT), while U.S. West Texas Intermediate (WTI) futures were down 65 cents to $61.2 a barrel . Refinery crude runs (USOICR=ECI), opens new tab fell by 162,000 barrels per day in the week, while utilization rates (USOIRU=ECI), opens new tab fell by 0.5 percentage points in the week to 90.2%, the EIA said. U.S. gasoline stocks (USOILG=ECI), opens new tab fell by 2.4 million barrels in the week to 223.1 million barrels, the EIA said, compared with analysts' expectations in a Reuters poll for a 527,000-barrel draw. Distillate stockpiles (USOILD=ECI), opens new tab, which include diesel and heating oil, fell by 724,000 barrels in the week to 103.4 million barrels, versus expectations for a 481,000-barrel rise, the EIA data showed. Net U.S. crude imports (USOICI=ECI), opens new tab fell last week by 532,000 barrels per day, EIA said.
