Wow, Bringing Coal To Newcastle -- Huge Story -- July 27, 2017

Updates

Later, 1:25 p.m. Central Time: see first comment --

But here's the rub: market prices don't bear out what the Peak Oilers claim.

Eagle Ford condensate sells at only a $1.00 per barrel discount to Eagle Ford crude, and Eagle Ford crude sells at no discount to West Texas Intermediate (WTI). 

https://s1.postimg.org/tfhmxhrzz/Captura_de_pantalla_1282.png

In Canada, Edmonton condensate sells at no discount to WTI, and sells at a premium to Canadian Light crude. 

https://s11.postimg.org/wt1m9wbkj/Captura_de_pantalla_1281.png

Original Post

 

UAE will import first crude oil cargo ever from the United States. Link here.

To repeat: The United Arab Emirates will import the country's first oil cargo from the US as the OPEC producer sought substitutes to replace Qatari condensate supplies after a diplomatic row.

Wow.

Every Arab for himself.

Enbridge, 1 -- Chippewas, 0. Link here, data points:

• Canadian Supreme Court rules in favor of Enbridge
• Chippewas of the Thames First Nation in Ontario using same argument as their colleagues in Standing Rock
• Enbridge's Line 9, running between Sarnia, Ontario, and Montreal, through "what the Chippewas regard as their traditional territory" 

US crude oil, gasoline stocks fall sharply: link here. Reposting from yesterday. WTI is down almost one percent in pre-market trading today. Still 38 weeks to re-balance at this rate of drawdown, and the US driving season will soon be ending. US gasoline demand has hit records
twice in the past three weeks, and barely missed a record that third week.