U.S. crude posted its first monthly gain since June on Friday, but one expert warned that storage in the United States is filling up quickly, and that could send oil lower. “We are really close,” said Bank of America Merrill Lynch’s Francisco Blanch, noting that storage could run out by the end of March or… Keep reading →
Bulging inventories are expected to continue to build at the biggest US oil-storage facility, putting more downward pressure on crude prices and adding to calls on the federal government to legalize exports, analysts said. The amount of oil stored at the Cushing Hub in Oklahoma rose to 48.18 million barrels in the week ending Feb.… Keep reading →
The US oil market has been moving on cold weather and the Keystone Pipeline’s southern leg activation, which is alleviating the glut of crude at the Cushing, Oklahoma storage hub. While most of the attention has been on whether President Obama will green light the northern portion of the pipeline, the southern portion was constructed… Keep reading →
