I also learned a bit more about the global crude oil trading market, and one of these days, I may even remember the definition of contango.
I end the week with a great Politico story with this graphic (sorry about all the white space -- that's how Politico posted the graphic):
The WTI oil crawler suggests oil broke through the $40-floor today. Peak oil? What peak oil? This is absolutely insane.
I particularly enjoyed two posts this week: the "crack cocaine and heroine" post and the Mexican swap post. Also, RBN Energy on the Mexican swap.
Gasoline demand is hitting new all-time records. See this post.
The top stories in the Bakken this past week:
The Bakken -- update
One-sixth of the Bakken has been drilled
Bakken rig effectiveness
XTO reports several nice wells
HRC reports a huge well in Eagle Nest
EOG, HRC, Whiting all report huge wells
Bakken update -- Mike Filloon
CBR volumes falling
Portable frack-sand delivery systems
Good news for farmers in the Bakken
North Dakota's financial update
Bakken utilities get new federal loans
Per-capita spending at Wal-Mart: ND in top ten
Samson Resources seeks bankruptcy protection
Major permit numbering problem over at NDIC
When will the rigs come back?