Retail Sales Come In Unexpectedly Low -- WTI Holds Above $80 -- Tech Futures Insane -- Tech Rally Rolls On -- June 18, 2024

Locator: 47876B. 

Tech futures: all green.

Is INTC the new CSCO? 

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

WTI: $80.35.

Friday, June 21, 2024: 69 for the month; 133 for the quarter, 332 for the year
39891, conf, Hess, EN-Madisyn-LE-154-94-07-5H-7,

Thursday, June 20, 2024: 68 for the month; 132 for the quarter, 331 for the year
None.

Wednesday, June 19, 2024: 68 for the month; 132 for the quarter, 331 for the year
None.

Tuesday, June 18, 2024: 68 for the month; 132 for the quarter, 331 for the year
40096, conf, Whiting, Sanish Bay W 5293 34-1 8B,

RBN Energy: a drill-down report on four projects vying to be next deepwater export terminal. Archived.

The four deepwater crude oil export projects under development along the U.S. Gulf Coast are getting closer to receiving their regulatory go-aheads after years of planning and millions of dollars spent. In fact, Enterprise’s Sea Port Oil Terminal (SPOT) received its license in April. These projects have sparked commercial and wider market interest because of the many benefits they may provide — including the ability to fully load 2-MMbbl Very Large Crude Carriers (VLCCs) without any reverse lightering.

To say the U.S. crude oil market has undergone a transformation over the last 15 years would be an understatement. The Shale Revolution enabled producers to unlock volumes that were unimaginable to many not long ago, especially in the most prolific U.S. production area: the Permian Basin. As the production of mostly light sweet crude from domestic shale plays grew, U.S. refineries by the mid-2010s were consuming their fill. But even as production kept growing and refineries became satiated, U.S. crude oil exports were largely limited to Canada, causing concern at the time that the Shale Revolution could hit a wall. Then, in December 2015, the Obama administration opened the door for crude exports. Export volumes took off — soaring from less than 500 Mb/d in 2015 to more than 2 MMb/d in 2018 and more than 4 MMb/d in 2023. Despite a recent slowdown, we expect exports to continue growing along with U.S. production throughout the 2020s, propelling market interest for new, efficient export terminals along the Gulf Coast.