WTI Goes $65; Active Rigs At 16; No Wells Coming Off Confidential List -- March 5, 2021

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. 

For investors:

First group:

• 10-Year Treasury: link here. Surging. 1.598%; up almost 5 basis points.
  
• DXY: link here. Up slightly at 91.94.
  
• Silver: link  here. Most interesting -- all that talk about silver surging, is back down to $25.23, and down 24 cents today.
  
• CBOE volatility index: link here. At 26.7, down 6.6%.
  

Second group:

30-Year Treasury: link here. 2.319%, up slightly.

Dow: up 200 points pre-market.

Buzz:

• meme: bonds hindering stock market;
• history: once investors get used to current interest rates (and the trend), money will flow back into the stock market;
• we've had much worse "inflation" in the past and the market did just fine
  

Airlines taking flight:

• the one thing people are most inclined to do once they get the vaccine -- fly. Link here. 

Jobs:

• 379,000 jobs added in February. It would have been a lot better had welders returned to Keystone XL;

WTI: Wood Mackenzie stepped out on a limb yesterday suggesting/implying that WTI could hit the $65 - $70 range by April. Well, hellooooooo -- $65.10 today.

• CLR: could have another big day; up over 4% in pre-market trading:
• Hes: up almost 3% in pre-market trading
• EOG: up over 3% in pre-market trading
• CVX: could close at another all-time high after dropping back from an intra-day high of $108 (rounded) yesterday; today CVX is up 2.44% / $107.05 in pre-market trading; and still paying 5%;
• XOM: up 2.44% in pre-market trading;
• BRK-B: surprisingly strong; pre-market, up 1.45%; flirting with $250.00
• TSLA: early morning -- on an "up" day for the market, TSLA shed 5%; down another $40; trading below $600.
  

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Back to the Bakken

Active rigs:

$65.10	3/5/2021	03/05/2020	03/05/2019	03/05/2018	03/05/2017
Active Rigs	16	54	69	61	45

No oil and gas wells coming off confidential list.

RBN Energy: the Patoka hub gains stature as crude oil flows south. Archived.

The crude oil hub in Cushing, OK, is larger and grabs the headlines, but don’t you forget about the Patoka hub in south-central Illinois. It plays critically important roles in receiving Western Canadian, Bakken, and other crude, distributing it to a slew of Midwestern refineries, and directing oil south to the Gulf Coast on the Energy Transfer Crude Oil Pipeline to Nederland, TX — and soon on Capline to St. James, LA, when reversed flows on that large-bore pipe begin in early 2022. 

Better still, there are great stories behind the development of the Patoka storage and distribution hub and how it works. Today, we begin a series on the second-largest crude oil hub in PADD 2 and why, with the upcoming Capline reversal and other changes, the hub is more relevant than ever.