Mid-Week Review – October 16, 2019

Dilemma for Oil Refiners as Surging Ship Costs Kill Margins U.S. sanctions on Chinese shipping companies and Friday’s attack on an Iranian tanker have turbo-charged transport costs, with rates on the Persian Gulf to China route at almost six times this year’s average.  Click here to read more from Bloomberg. Russia Aims To Ditch The […]

Markets Hopeful for Interim Trade Deal

Reports of the Chinese being willing to accept a partial trade deal are lifting markets this morning.  WTI Crude is trading at $53.36, a gain of 73 cents. Fuel is up this morning.  The API reported larger-than-expected draws in products are helping to buoy prices.  Diesel is trading at $1.9344, a gain of 2.4 cents.  […]

Markets Rise on Lower Output and Equity Gains

Oil prices are getting a lift this morning, a break from the five-day down streak the market has experienced since last week. Crude oil is currently trading at $54.51, up 44 cents. Fuel prices are also moving a bit higher, though the switch to November futures contracts has gasoline trading a bit lower than October […]

U.S. ethanol production capacity continues to increase

Fuel ethanol production capacity in the United States reached 15.5 billion gallons per year, or 1.01 million barrels per day (b/d), at the beginning of 2017, according to EIA’s most recent U.S. Fuel Ethanol Plant Production Capacity report. Total capacity of operable ethanol plants increased by about 4%—or by more than 600 million gallons per […]

Mexico and the U.S.: Comparison of Crude Production Trends

In North America, shared borders stimulate trade. Mexico’s top trading partner is the United States. The United States’ top trading partner is Canada, followed closely by Mexico. In this briefing, we compare and contrast crude oil production in Mexico and the U.S. Both the U.S. and Mexico possess massive oil resources. Mexico nationalized its oil […]

New pipeline capacity and other infrastructure changes can accommodate increasing Permian crude oil production

Increasing crude oil production in the Permian basin of western Texas and eastern New Mexico is filling available pipeline capacity, putting modest downward pressure on West Texas Intermediate (WTI) crude oil priced at Midland, Texas compared with WTI at Cushing, Oklahoma. However, the Midland versus Cushing discount, which recently widened to more than $1 per […]

Increase in rail shipments of propane, butane to West Coast offsets decreasing production

Total U.S. production of propane and butanes—commonly referred to as liquefied petroleum gases (LPG)—increased to 2.1 million barrels per day (b/d) in 2016. Production increased in all regions of the country except for the West Coast (Petroleum Administration for Defense District, or PADD 5). Unlike other regions, West Coast LPG production has been decreasing since […]

Major U.S. tight oil-producing states expected to drive production gains through 2018

In EIA’s January Short-Term Energy Outlook, U.S. crude oil production is forecast to increase from an average of 8.9 million barrels per day (b/d) in 2016 to an average of 9.3 million b/d in 2018, primarily as a result of gains in the major U.S. tight oil-producing states: Texas, North Dakota, Oklahoma, and New Mexico. […]

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The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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