WTI Trending Towards $80 -- Two Wells Coming Off Confidential List -- October 5, 2023

Locator: 45653HEATINGOIL.

The grid: see the RBN Energy story below. Reminder:

• the northeast has a supply problem -- driven by faux environmentalists
• Texas has a demand problem -- driven by growth

Heating oil: prices, EIA: 

Heating oil: New England, Y-Charts.

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Back to the Bakken

WTI: $83.52. I thought GS said we would see $100-oil by now. Predicting the price of oil is a fool's errand. And Saudi is in trouble again. Back to the future.

Friday, October 6, 2023: 16 for the month; 16 for the quarter, 586 for the year
39649, conf, Ovintiv, Fleck 150-100-1-12-8H,
38840, conf, Enerplus, Hay Draw 148-97-27-344-6H,

Thursday, October 5, 2023: 14 for the month; 14 for the quarter, 584 for the year
39359, conf, CLR, Arthur 3-12HSL1,
38035, conf, PetroShale, Tahu 3MBH,

RBN Energy: is the US northeast in for a supply-challenged, high-price heating season? They're reading the blog! LOL. Archived.

Just as homeowners in parts of the Northeast are thinking about turning on the heat again, the market for heating oil, diesel and other middle distillates in PADD 1 is unusually tight.

Inventories are hovering near their five-year lows; prices are up sharply; and the near-term prospects for rebuilding stocks are modest at best.

For one thing, the import-dependent region can’t rely on them as much as it used to; for another, at least a couple of in-region and nearby Canadian refineries the Northeast counts on are offline for major turnarounds. In today’s RBN blog, we discuss the latest developments in PADD 1’s distillates market.