Military Action "Moves" Oil -- Slightly -- T+76, April 7, 2017

Oil:

• Brent: 55.24
• WTI: 52.15
• Spread: about $3.00

Active rigs:

	4/7/2017	04/07/2016	04/07/2015	04/07/2014	04/07/2013
Active Rigs	49	31	93	194	187

RBN Energy: how new Permian-to-Corpus gas pipelines will affect coastal flows.

Where might all that gas go? As we’ve said in many blogs, the Marcellus/Utica region has made the Northeast essentially self-sufficient when it comes to gas, and has been pushing other producers out of the Midwest, the Southeast and other areas. So in many ways it comes down to exports, and Agua Dulce is key, not only for pipeline exports to Mexico but for gas supplied to the LNG export terminals in Corpus Christi and, perhaps, to other planned LNG terminals up and down the coast from Corpus.

So it seems quite probable that at least two—and maybe all three—of the Permian-to-Corpus pipeline projects we’ve been discussing will advance to construction. The question then will be – how much of the  gas flowing on those pipes to Agua Dulce be exported, and how much will need to work its way up the Texas coast and battle Marcellus/Utica producers for Texas Gulf Coast Industrial Corridor customers? Now that’s an interesting question that we’ll consider in an upcoming blog.

Scott Adams: the Syrian gas attack persuasion.