It might be my imagination but it certainly seems the fossil fuel energy story has moved faster in the past six months than expected.
Now we get this story -- big "thank you" to Don for alerting me to the story.
From CNBC:
- China crude oil imports for November: second-highest on record
- China crude oil imports from the US in November: highest amount on record
- driving the record for US crude exports to China: WTI discount to Brent -- currently about $6/bbl
Rule of thumb: a $7 spread (advantage to WTI) almost guarantees WTI will outsell Brent to Asia, all else being equal. If the spread is less, depends on a number of factors how much US crude oil China will import. The greater the spread over $7 the more likely that data point will be the single data point necessary for China to buy US oil.
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