Tuesday, June 28, 2022

End-Of-Day Report -- June 28, 2022

First things first, API's Tuesday report -- large crude oil draw --
  • a draw of almost 4 million bbls this past week
  • analysts forecast a draw of 110,000 bbls
  • remember: this draw comes at same time as huge SPR release
  • if confirmed by EIA tomorrow, "Katie, bar the door."
  • of course, the week before, a build of 5.6 million bbls suggesting a lot of issues with data;
  • gasoline
    • previous week: a build of 1.2 million bbls
    • most recent week: a build of 2.9 million bbls
    • and price of gasoline is still at $5
  • crack spread at refineries said to be $50 to $60 / bbl
  • most interesting data point to watch for tomorrow, EIA's report: 
    • refining operating capacity; and,
    • jet fuel supplied
Spare capacity: lots of folks are talking about (lack of) spare capacity in the Mideast. I started talking about this at least as far back as 2013, and I remember oil drum talking about it:

The anti-ARKK? Link here. At the link, a short audio, quite remarkable:


Winter in Australia, link here:


Buffett and OXY: I've completely lost the bubble on Buffett and OXY. I'll sort it out later. Link here:


Sempra over at SeekingAlpha, link here.

Grids:
  • Texas grid easily held today.
  • both ISO-NE and ISO-NY expensive; ISO-NY particularly on Long Island 
The madam: 20 years in prison
  • on suicide watch
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Back to the Bakken

GIS map server: still not "up."

WTI: up 2% today; up $2.19; trading at $111.80. 

Active rigs: 45.

One new permit, #39056:
  • Operator: Lime Rock Resources
  • Fields: North Fork (McKenzie)
  • Comments:
    • Lime Rocks Resources has a permit for another Yellowstone well, lot 3, section 1-149-97; 
      • to be sited 452 FNL and 2371 FWL
Three permits renewed / reinstated:
  • Whiting: a Roggenbuck permit, a Larson permit, and, a Kessel permit, Mountrail, Williams, and Stark counties, respectively

2 comments:

  1. Whether or not Ms Maxwell gets "suicided" would be a great poll question

    ReplyDelete

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