Oil Sheikhs and Russian Bears Pump Up the Oil Price Party

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Lone Star Stories

Oil Sheikhs and Russian Bears Pump Up the Oil Price Party

Oil prices surged around 2% on Thursday as Saudi Arabia and Russia extended steps to limit supplies into September and potentially further, with Brent futures settling at $85.14 a barrel and U.S. West Texas Intermediate crude at $81.55.

Hot Summer, Hotter Gas Prices: When Refineries Sweat It Out

As historic heatwaves impact the US, gasoline prices have reached nine-month highs due to refineries' inability to function efficiently in extreme heat, thereby disrupting supply during a high-demand summer driving season.

Reader Question of the Day

How are oil pipelines maintained and monitored to prevent leaks and ruptures?

Preventing leaks and ruptures in oil pipelines involves regular inspections, often using devices called "smart pigs" that detect wall anomalies. Where these devices can't be used, direct assessment methods involving soil and pipeline testing are employed.

Additionally, pipelines are monitored through manual patrols and advanced technology, like sensors that detect pressure, temperature, or flow changes, potentially indicating leaks.

Data from these techniques feed into predictive models for timely repairs. Despite these measures, completely preventing pipeline failures is challenging, underlining the importance of spill response strategies.

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