With the startup of TransCanada’s Cushing Marketlink pipeline and increased rail shipping of crude directly to the US Gulf Coast (bypassing Cushing, Oklahoma), a new dynamic in the US energy markets is taking shape. The glut of crude at Cushing (see po…
The spread between crude oil traded in the international markets and the US benchmark, the so-called Brent-WTI spread has blown out once again. It’s now approaching levels not seen since February.
US crude oil inventories fell sharply for a third week in a row, dipping materially below the levels from the same time last year. As a result WTI crude price remains firmly above $106.Source: EIAThis drop in supplies is surprising because US crude pro…
US fuel prices continue to rise. August NYMEX gasoline futures price cleared $3/gal a couple of days ago and is now at the highest level for 2013.
US crude oil inventory unexpectedly declined again (see post) last week, driven by a particularly strong refinery demand on the Gulf Coast.
US gasoline prices have been on the rise, as peak diving season approaches while a number of refineries have been undergoing scheduled and unscheduled maintenance. The price increases have been particularly acute in the Midwest.Source IEA, May 24th, 20…
This is a syndicated repost published with the permission of Sober Look. To view original, click here. Opinions herein are not those of the Wall Street…
This is a syndicated repost published with the permission of Sober Look. To view original, click here. Opinions herein are not those of the Wall Street…
US domestic crude oil production is continuing to rise. After a slowdown in September it hit a new record according to latest data from EIA.Source: EIAThat is keeping the US crude oil inventory above the 5-year range for this time of year. Crude m…
Retail gasoline prices in the US remain elevated – up 14% since the end of June. But as our friends in California know, gas prices depend quite a bit on where you live. And the West Coast got hit especially hard, with retail prices there at record hig…
