From The [London] Independent:
- Russian commanders, with their families, are fleeing the Crimean peninsula
- Moscow had "annexed" the Crimean peninsula in 2014;
- Russian nationals secretly trying to sell their homes on the peninsula
- tactical nuclear weapons in play?
- Ukraine claims its troops are within 30 miles of Russian border
API:
- a build of 6.035 million bbls; forecast -- a draw of 200,000 bbls.
- does one get the feeling the analysts have no idea what's going on?
- wasn't this similar to last week: a forecast of a small build/draw and yet API reported a huge build;
- the EIA data that is reported a day after the API data is more commonly followed by folks like me;
- "leaving the SPR with just 434.1 million barrels"
- "with just" as opposed to what? At a million bopd that would last 434 days;
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Back to the Bakken
WTI: $87.64. Pretty much unchanged since yesterday.
Natural gas: $$8.397. Slowly rising again.
Four new permits, #39234 - #39237, inclusive:
- Operator: Whiting
- Field: Sanish (Mountrail)
- Comments:
- Whiting has permits for four wells -- an S-Bar Laurel, an S-Bar Brandon, an S-Bar Joanna, and an S-Bar Devon permit in NE SE 1-153-93,
- to be sited between 1575 FSL and 1665 FSL and 260 FEL;
One well was permitted fro recompletion:
- 510210, Phoenix Petroleum, Tangsrud 12-1, Hayland,
With the API and or EIA data, problem is not enough data on where the crude oil is. Could be on supertankers out at sea and being bought and sold during voyage. With Suezmax holding 1 million bbls or supertankers holding 2 million bbls only takes a few of them to skew the inventory level by millions of barrels on a weekly basis. USA has excess of light sweet oil and shortage of heavy oil that can be easily refined to diesel. which now has high crack spread as compared to gasoline Just my opinion......
ReplyDeleteYou are so correct. I agree 1000%. Not everything is being measured.
DeleteJohn is correct... We have all this wonderful light sweet crude, but most of our refineries are set up for heavy crude. Sure would have been nice to have that Keystone XL pipeline to take the heavy crude oil from Canada down to these gulf refineries.... just sayin'.....
ReplyDeleteThat was a theme on the blog for years "back in the day." But that train has left the station, unfortunately.
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