Thursday, July 27, 2017

Wow, Bringing Coal To Newcastle -- Huge Story -- July 27, 2017


Later, 1:25 p.m. Central Time: see first comment --
But here's the rub: market prices don't bear out what the Peak Oilers claim.

Eagle Ford condensate sells at only a $1.00 per barrel discount to Eagle Ford crude, and Eagle Ford crude sells at no discount to West Texas Intermediate (WTI).

In Canada, Edmonton condensate sells at no discount to WTI, and sells at a premium to Canadian Light crude.
Original Post
UAE will import first crude oil cargo ever from the United States. Link here.
To repeat: The United Arab Emirates will import the country's first oil cargo from the US as the OPEC producer sought substitutes to replace Qatari condensate supplies after a diplomatic row.


Every Arab for himself.
Enbridge, 1 -- Chippewas, 0. Link here, data points:
  • Canadian Supreme Court rules in favor of Enbridge
  • Chippewas of the Thames First Nation in Ontario using same argument as their colleagues in Standing Rock
  • Enbridge's Line 9, running between Sarnia, Ontario, and Montreal, through "what the Chippewas regard as their traditional territory" 
US crude oil, gasoline stocks fall sharply: link here. Reposting from yesterday. WTI is down almost one percent in pre-market trading today. Still 38 weeks to re-balance at this rate of drawdown, and the US driving season will soon be ending. US gasoline demand has hit records
twice in the past three weeks, and barely missed a record that third week.

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