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:

• https://themilliondollarway.blogspot.com/2013/08/tuesday-morning-links-views-and-news-in.html
• https://themilliondollarway.blogspot.com/2013/04/figure-seven-at-todays-oil-drum-worth.html
• https://themilliondollarway.blogspot.com/2019/09/peak-oil-for-saudi-april-7-2013-re.html

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