I can't argue. Flirting is a much better term. But a second day touching above $100 was a huge milestone (for me).
Two data points: OXY's earnings came out and they said the average price they sold their oil for this past quarter: $103/bbl.
On CNBC, just as I was replying: investment bank (missed the banker, but one of the big ones), says for the next 12 - 18 months, the floor for oil (probably the crawler, NYMerc) will be $100.
Now if only the ND Sweet and sour would be at that level as well... I'm curious and wonder if you have insight, or perhaps been looking. Has the discount price for WTI to Brent been similar to or had an effect on the "discount" seen for WTI to ND Sweet/Sour?
I don't follow it, and certainly don't have insight.
The reason I never followed this very closely was because the real price paid varies so much based on contracts, collars, etc.
The main reason I follow WTI, Brent, NYMerc, is because it gives me an idea of what Cushing is doing, the strength/weakness of the dollar, and where the general stock market might go.
But because I don't own any minerals, following it any more closely has not been something I've done.
So there are lots of methods, and prices to selling the oil from ND. in the SW , the oil from Red river formation is a sour crude, which goes by pipeline to baker, mt then to denver. Then tesoro refinery in mandan purchases oil, then the different pipelines..trains, Sem crude ourchases oil.. So there are so many methods to marketing oil maybe Bruce should create a story/blog on this , Naturally someday when he has time.
I was thinking of giving the pipeline story to my 8 y/o granddaughter as a summer project, but she was angry enough with me that we worked on math every day this summer, that I thought I better wait another year.
I'd say it's more flirting with it. From what I am seeing (http://freeserv.dukascopy.com/chart/?stock_id=504&stock_id=504&interval=60&points_number=200&view_type=candle&width=400&height=300&show_labels=true&osc_type=Volume&rfi=true&height=300&p1=2&p2=3&p3=7&c=213359&detach=true©r=true&refcode=46ac076ec734073644b68312923f172a27ebc892a36696a478e123e0078107c174826d7538697877)
ReplyDeleteI can't argue. Flirting is a much better term. But a second day touching above $100 was a huge milestone (for me).
ReplyDeleteTwo data points: OXY's earnings came out and they said the average price they sold their oil for this past quarter: $103/bbl.
On CNBC, just as I was replying: investment bank (missed the banker, but one of the big ones), says for the next 12 - 18 months, the floor for oil (probably the crawler, NYMerc) will be $100.
Now if only the ND Sweet and sour would be at that level as well... I'm curious and wonder if you have insight, or perhaps been looking. Has the discount price for WTI to Brent been similar to or had an effect on the "discount" seen for WTI to ND Sweet/Sour?
ReplyDeleteI don't follow it, and certainly don't have insight.
ReplyDeleteThe reason I never followed this very closely was because the real price paid varies so much based on contracts, collars, etc.
The main reason I follow WTI, Brent, NYMerc, is because it gives me an idea of what Cushing is doing, the strength/weakness of the dollar, and where the general stock market might go.
But because I don't own any minerals, following it any more closely has not been something I've done.
So there are lots of methods, and prices to selling the oil from ND. in the SW , the oil from Red river formation is a sour crude, which goes by pipeline to baker, mt then to denver. Then tesoro refinery in mandan purchases oil, then the different pipelines..trains, Sem crude ourchases oil..
ReplyDeleteSo there are so many methods to marketing oil maybe Bruce should create a story/blog on this , Naturally someday when he has time.
I was thinking of giving the pipeline story to my 8 y/o granddaughter as a summer project, but she was angry enough with me that we worked on math every day this summer, that I thought I better wait another year.
ReplyDelete