WTI Down To $46.60; To Test $45 Again? End Of Driving Season Looms -- August 17, 2107

Active rigs:

$46.60↓	8/17/2017	08/17/2016	08/17/2015	08/17/2014	08/17/2013
Active Rigs	54	32	74	194	183

RBN Energy: are the Capline Pipeline and LOOP about to enter a new era? A must-read.

The stars may finally be aligning for two related crude oil infrastructure projects that, if undertaken, would provide an important new pathway to overseas markets for Bakken, western Canadian and other North American crude. The first would involve reversing the Capline Pipeline, which was built to transport crude north from the U.S. Gulf Coast to Midwest refiners.

The second would make modest physical changes to the Louisiana Offshore Oil Port — better known as LOOP — to allow the crude import facility off the Bayou State coast to load crude onto ships, including Very Large Crude Carriers (VLCCs). Today we look at the new infrastructure and market forces that may finally spur Capline’s reversal and lead imports-focused LOOP to enable exports.