Thursday, February 9, 2017

The Closer, T+20, February 9, 2017

California gasoline prices rising. From Platts:
  • "refinery issues"
  • production declines in California
  • increasing demand for gasoline from Mexico
Refinery issues: a crude unit and an alkylation unit are down at Chevron's 269,000 b/d El Segundo refinery; company did not provide time for "re-start."
DAPL work to begin immediately. We'll see. Not holding my breath. I think the first of two court challenges is in DC federal court. Yeah, that court. Story over at PennEnergy.

OPEC production cut could be extended into 2H17 -- Iran oil minister. Story over at HellenicShippingNews. An earlier tweet suggested that every OPEC country exceeded "cut" target by small amount except for Saudi Arabia (taking the brunt of the production cut) and Iran (producing just below its target. The numbers were based on third-party sources, felt to be more reliable than data released by the country itself.

Disclaimer: this is not an investment site. Do not make any financial or investing decisions based on anything you read here or think you may have read here.

Fracking sand: a reader sent me this link -- anticipate a shortage of fracking sand. Mike Filloon has been predicting that for several years. Harold Hamm, recently asked that question directly, say "CLR has plenty of sand."

The market: after another record-setting day on Wall Street, futures (which mean "squat") suggest another "good" day tomorrow. Dow futures are up about 23 points. Climbing the wall of worry:

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