Timely petroleum, renewable fuels, railcar, and storage intelligence from the PFL team.
With Enbridge line 3 running in full force and a number of planned producer outages in Alberta out of the way it will be interesting to see where basis numbers settle out and what new pipeline appropriations will be come November 1st.
Oil prices continued to rise today, despite yesterday’s much larger than expected build in crude inventories.
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Oil prices were steady today whipsawing between gains and losses. Market analysts are beginning to show more concern that rising prices will hurt demand in the long run.
A U.S. administration official on Monday said the White House stands by its calls for oil-producing countries to “do more”, and said they are closely monitoring the cost of oil and gasoline.
Output has grown sequentially for six straight months. Total output in August 2021 was the highest since December 2019, meaning it’s back above where it was immediately prior to the pandemic.
Oil prices rose again today, wrapping up another strong week as global energy concerns are lifting prices across the complex
Oil prices rebounded slightly today after yesterday’s rout despite the DOE saying that “all tools are always on the table
Oil prices traded down today, coming off multi year highs on a surprise build in crude and gasoline inventories.
Oil prices continued to rise today, with WTI hitting highs not seen since 2014. Prices have already risen more than 50% for the year and are expected to draw continued support from higher prices in other areas of the energy complex.