Monday -- November 21, 2022

WTI plunges:

• weren't we told that gasoline prices and WTI would surge as soon as the midterm elections were over? Others remember.
  
• Biden releasing oil from thee SPR: well-played!
  

 
California:

• running on empty

Cold:

• all of a sudden it's gotten colder in Europe
• ISO NE
  
• Hart Energy
  

Disney:

• Iger is back: here's what happened, a thread.
  

Copper:

• lithium next
• off the radar scope

Interest:

• federal outlays
• getting to the truth

******************************
Back to the Bakken

The Far Side: 

 
Active rigs: 41.

WTI: $77.98. Another Chinese head fake. Recession.

Natural gas: $6.575.

Tuesday, November 22, 2022: 38 for the month, 75 for the quarter, 620 for the year.
38787, conf, CLR, Medicine Hole 9-27H1,
37955, conf, CLR, Brangus FIU 4-11H,

Monday, November 21, 2022: 36 for the month, 73 for the quarter, 618 for the year.
38803, conf, Hunt, King 156-90-5-34H 4,
37956, conf, CLR, Brangus FIU 3-11H2,

Sunday, November 20, 2022: 34 for the month, 71 for the quarter, 616 for the year.
38876, conf, CLR, Nebula SWD,
38788, conf, CLR, Medicine Hole 10-27H,
37957, conf, CLR, Brangus FIU 2-11H,

Saturday, November 19, 2022: 32 for the month, 69 for the quarter, 614 for the year.
38789, conf, CLR, Medicine Hole 11-27H1,
37958, conf, CLR, Charolais South Federal 16-10HSL1,  

RBN Energy: how Shell's new steam cracker is (and isn't) impacting NGL markets.

Shell’s new, multibillion-dollar steam cracker in Monaca, PA — the first of its kind in the Marcellus/Utica shale play — is finally up and running and breathing new life into a small town on the Ohio River. When it’s running flat-out, the cracker will churn out up to 9 million pounds of ethylene a day to supply three adjoining polyethylene units. Shell Polymers Monaca, as the petrochemicals complex is formally known, is a world-scale giant, consuming about 95 Mb/d of ethane, which raises this question: How is the start-up of the region’s only large ethane consumer affecting the broader market? In today’s RBN blog, we provide the answer.