US Crude Stocks at Oklahoma’s Cushing Hub Down by over 40%
Crude oil inventories at Cushing—home to a chunk of U.S. commercial tank and underground crude oil working storage capacity—are now 26% lower than normal, based on the EIA’s previous five-year average.
What’s Affecting Oil Prices This Week? (Sept. 20, 2021)
Stratas Advisors expects certain factors will constrain the upward movement of oil prices throughout the rest of the year and beyond including projections of additional supply from U.S. shale producers, the firm said in its latest oil price forecast.
Natural Gas Snapshot: What’s Going On?
The big question is will shale producers continue to hold the reins on capital spending despite the recent dramatic move in natural gas prices?
What’s Affecting Oil Prices This Week? (Sept. 13, 2021)
Back to trend? While it still expects oil prices to drift upward, Stratas Adivsors is also forecasting that oil prices will trade in a relatively narrow channel through the rest of the year, the firm said in its latest oil price forecast.
The Latest
Crude Oil
Oil Heads for Third Week of Gains as Output Stumbles
Oil prices steadied on Sept. 24 near a two-month high above $77 a barrel and were headed for a third straight week of gains, supported by global output disruptions and inventory draws.
Crude Oil
US Oil Refiners Pick Iraqi, Canadian Crudes to Replace Storm Losses
The loss of up to 250,000 bbl/d after Hurricane Ida has some U.S. refiners seeking replacements for fourth-quarter delivery, especially Iraq’s Basra crude, traders said. Others received supplies of sour crude from U.S. storehouses.
Public Capital
Kinder Morgan to Transport Southwestern Energy’s Responsibly Sourced Natural Gas
Beginning Nov. 1, Southwestern will produce and Tennessee Gas Pipeline, a subsidiary of Kinder Morgan, will transport the responsibly sourced natural gas to Northeast markets.
Markets
Britain Tells Consumers ‘Don’t Panic Buy’ as BP Shuts Gas Stations
In a further sign of worsening supply chain dislocation, BP temporarily closed some of its 1,200 U.K. petrol stations due to a lack of both unleaded and diesel grades, which it blamed on driver shortages.
Public Capital
Tellurian Adds Energy Industry Veteran James Bennett to Board
James D. Bennett brings over 30 years of experience from the E&P and investment space, which Tellurian Executive Chairman Charif Souki described as invaluable to the company’s goal of enhancing its Haynesville upstream position
Crude Oil
Oil Prices Rise on Tight Supply, Renewed Risk Appetite
Oil prices jumped 2.5% on Sept. 23 after data from the U.S. Energy Information Administration showed U.S. crude stocks in the week to Sept. 17 fell by 3.5 million barrels to 414 million—the lowest total since October 2018.
Crude Oil
US Crude Oil Stockpiles Fall to Lowest in Three Years
Crude oil inventories in the U.S. now sit at their lowest levels since October 2018, and that tightness, along with strong demand, has helped drive oil prices higher.
Markets
OPEC Chief Says Renewable Energy Shift Increasing Gas Prices
Gas prices in Europe have surged as much as 280% so far this year.
Liquefied Natural Gas (LNG)
Soaring Gas Prices Ripple through Heavy Industry, Supply Chains
Global record high natural gas prices are pushing some energy-intensive companies to curtail production in a trend that is adding to disruptions to global supply chains in some sectors such as food and could result in higher costs being passed on to their customers.
Crude Oil
US Crude Stocks at Oklahoma’s Cushing Hub Down by over 40%
Crude oil inventories at Cushing—home to a chunk of U.S. commercial tank and underground crude oil working storage capacity—are now 26% lower than normal, based on the EIA’s previous five-year average.