EIA Says Experiencing Technical Difficulties: Can't Provide Weekly Gasoline Price Report -- I Can't Make This Stuff Up -- August 30, 2022

CNBC: I haven't watched any CNBC since the Jackson Hole speech but I'm liking what I'm reading about Cramer's thoughts on what's going on. I don't know if he's being quoted correctly, but he probably is. That's all I'm going to say about that right now. 

Again?

• remember how EIA failed to report petroleum data for a full week this summer when prices were rising fast?
• now, again. Crude oil is surging, GasBuddy is not tweeting, and all of a sudden EIA says it is experiencing technical problems and is unable to post this week's gasoline prices. I can't make this up.
• link here.
• the link and screenshot were taken last night;
• overnight, this morning, no change.

Russia, Saudi: battling for oil market share in Asia. Link to Cyril Widdershoven. 

Cheniere: link here.

Cheniere:

• biggest US exporter of LNG
• has revealed plans to expand its complex on the Texas coast
• link here. A Rigzone article.

GasBuddy: no tweets for at least four days now.

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Back to the Bakken

The Far Side: link here.

WTI: $94.29. Down almost 3%. Guess everything is going to be alright in Iraq, Libya, Russia, and China.

Natural gas: down almost 2%. Oh, oh. Recession. $9.176

No wells coming off confidential list until Friday. And then, just one.

RBN Energy: the non-Canadian factors behind the latest widening of the WCS-WTI price spread.

Western Canada’s heavy oil producers have become all too familiar with fluctuating and often very wide price discounts for their product. Too often, the culprits have been insufficient pipeline export capacity and/or rapidly rising production. It might be easy to quickly dismiss the latest widening of the heavy oil price discount as being related to these well-known factors, but it turns out that other more international trends are at work, ranging from U.S. government-backed competition in the Gulf Coast to heavy discounting of competing barrels in other far-flung regions of the world. In today’s RBN blog, we look beyond the borders of Canada for an explanation of the latest pressures driving wider Canadian heavy oil price discounts.

With a large majority of Canada’s crude export volumes to the U.S. being in the form of heavy oil, it is only natural for the industry to track the relative price of those barrels versus major price benchmarks such as West Texas Intermediate (WTI). The most closely watched Canadian heavy oil price marker is Western Canadian Select (WCS) and its price differential to WTI, which often yields clues on the degree to which market forces are discounting WCS barrels.