All eyes in the US oil market are currently focused on the small town of Cushing, Oklahoma, located 70 miles northeast of Oklahoma City. Available capacity at one of the world’s largest crude oil storage hubs is filling up fast and that has considerable market implications because Cushing is the delivery point for US benchmark… Keep reading →
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 →
Record setting US oil production growth is altering physical oil flows, flipping supply-demand fundamentals and leaving market observers searching for tools that can provide insight into these new price formation elements. Pipeline reversals and infrastructure expansion along the Gulf has debottlenecked the Cushing, Oklahoma storage hub, which has redrawn traditional oil grade basis differentials. Energy market… 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 →
