EIA: Yearly US motor fuel spending to be lowest in 12 years

The US Energy Information Administration forecasts in its April Short-Term Energy Outlook that, during the April-through-September summer driving season this year, US regular gasoline retail prices will average $2.04/gal, compared with $2.63/gal last summer. Source: News

Sanders: Ban hydraulic fracturing nationwide

Sen. Bernie Sanders (I-Vt.), seeking to become the Democratic Party’s candidate in this year’s presidential election, has called for a nationwide ban on hydraulic fracturing. Source: News

Gazprom Neft doubles ‘commercial reserves’ at East Siberian fields

PJSC Gazprom Neft says it has increased estimates of “commercial reserves” at its Ignyalinsky, Tympuchikansky, and Vakunaisky fields, collectively known as the “Chonsky project,” in East Siberia by 48% following geological prospecting operations conducted last year. Source: News

Energy-investment rise seen in MENA region

Total energy investments over the next 5 years in the Middle East and North Africa (MENA) will reach $900 billion, according to Arab Petroleum Investments Corp. (APICORP). Source: News

Politics keep Eastern Mediterranean offshore gas elusive, forum told

Political tensions will likely keep Eastern Mediterranean offshore natural gas supplies from being developed soon, speakers told an Apr. 11 forum at Johns Hopkins University’s School for Advanced International Studies. Source: News

MARKET WATCH: NYMEX oil price tops $40/bbl, Brent approaches $43/bbl

Light, sweet crude oil prices for May delivery climbed modestly on the New York market Apr. 11 to settle above $40/bbl, marking its highest front-month closing in about 3 weeks. Brent crude oil prices on the London market for June closed above $42.80/bbl, marking a 4-month high. Source: News