Refinery Utilization Clears 90% Threshold – Keystone XL Project Discontinued

Inventory data published by the EIA yesterday aligned with the market’s expectation on direction but differed widely on size. Markets expected crude inventories to fall while product inventories rose, which was the case. However, the crude draw was nearly double the projected amount, and both diesel and gasoline inventories rose far more than expected. Although […]

Biden to Cancel Keystone XL Pipeline

Coming off a long holiday weekend, oil markets are moving moderately higher. Traders are expecting the in-coming Biden administration to act quickly to pass its proposed $1.9 trillion stimulus bill, which would facilitate faster distribution of a vaccine while putting money in people’s hands to spend immediately. Along with stimulus legislation, Biden is expected to […]

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