With the deadly terror attack in Algeria putting a newfound focus on threats to energy supplies, crude oil prices are expected to move higher.
There is speculation that futures contracts for the U.S. benchmark oil contract, West Texas Intermediate or WTI, could top $100 per barrel. WTI closed last week at $95.96, and the front-month contract was trading at $95.69 Tuesday.
Brent crude, which trades at a premium to WTI, set a new record in 2012 and is trading above $112 per barrel.And the spread between WTI and Brent may be narrowing.
And WTI and Bakken is practically at parity at Clearbrook, MN.
Coming to Houston port region: $35 billion in investments and 111,000 jobs
ReplyDeletehttp://www.bizjournals.com/houston/news/2013/01/22/coming-to-the-houston-port-region.html
While oil impacts the Houston port region somewhat, NGLs are the real driver. More ethane means more ethane crackers and more polyethylene for expore, more propane means more polypropylene and more propane exports, more butane means more polybutylene and butadiene etc as well as more exports. Crackers are billion dollar investments and then at least 10 being planned or under construction. Then there is LNG potential.
The Houston port doesn't include Beaumont or the Lake Charles region, which also have massive projects underway or planned related to NGLs and LNG.
Huge. Thank you. 111,000 jobs. I will post this where folks can access it more easily. Thank you.
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