WTI Drops Three Percent Overnight Despite Saudi Cut -- June 12, 2023

Locator: 44911B.

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101 Days Of Summer

Day 16.

Breezy. On a scale of 1 - 10, a seven.

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WTI

Sad face: I posted this last night --

The only “thing” in recession? Oil stocks. I’ve been waiting two decades for a breakout in the price of WTI. Time to move on.

This morning: 

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Back to the Bakken

WTI: $68.05.

Tuesday, June 13, 2023: 28 for the month; 136 for the quarter, 391 for the year
39301, conf, CLR, Skachenko Federal 9-31H,
38925, conf, Lime Rock Resources, Scott 4-7-6H-143-95L,

Monday, June 12, 2023: 26 for the month; 134 for the quarter, 389 for the year
39259, conf, Stephens Williston LLC DBA SEG Williston, Greenbrier 15591W-0211-7HSL,

Sunday, June 11, 2023: 25 for the month; 133 for the quarter, 388 for the year
39300, conf, CLR, Skachenko FIU 8-31H1,

Saturday, June 10, 2023: 24 for the month; 132 for the quarter, 387 for the year
39258, conf, Stephens Williston LLC DBA SEG Williston, Greenbrier 15591W-0211-6H,

RBN Energy: midstream giants prepare for more NGLs bound for export docks.

U.S. production of natural gas liquids and NGL “purity products” continues to rise (aside from occasional hiccups) and domestic demand for the commodities remains flat, so — you know what’s coming — the vast majority of incremental output of ethane, LPG and natural gasoline is headed for export docks. That’s good news, and so is the fact that the midstream sector has the infrastructure in place — or under development — to handle the increasing volumes of NGLs coming their way. In today’s RBN blog, we begin a series on the U.S.’s robust-and-growing networks of NGL pipelines, fractionators and export terminals, starting with a look at Energy Transfer’s “well-to-water” system for NGL gathering, processing, transportation, fractionation, storage and shipment in Texas.