Tallgrass Energy Announces Pony Express Pipeline Expansion
November 15, 2018
Tallgrass Energy Announces Pony Express Pipeline Expansion
Oil Traders Try Crude-Pricing Alternatives
April 20, 2018
From Bloomberg As Shale Boosts Exports, Some Push to Set Price on Coasts, but Oil Stored in Middle of America is Longtime Standard in Market Rapid increases in U.S. oil output and exports over the past two years are forcing some traders and producers to try alternative ways of pricing crude. While the market benchmark remains West Texas Intermediate crude
A Drop at Cushing Keeps Prices Afloat
January 19, 2017
Crude oil inventories rose 2.35 MMBO last week Crude oil inventories grew by 2.35 million barrels in the week ended January 13, 2017, according to the EIA. Economists were expecting a build of approximately 0.13 MMBO, according to information compiled by Bloomberg, but the effects of the larger than anticipated gains were offset some by a draw in Cushing, Oklahoma.
More Volatility: Oil Price Falls as U.S. Petroleum Stocks Rise
August 24, 2016
Largest Weekly Build in Crude Stocks since April WTI oil price fell this morning after EIA reported that crude oil stocks has increased by 2.5 million barrels, the largest weekly build in crude stocks since April 29, 2016. The build is a reversal of the 2.5 million barrel draw the week prior. Total inventories still remain at inflated levels for
Cushing Full by June, Then What?
March 14, 2016
With so much oil being produced in the U.S. and nowhere to store it, why are we still importing? Crude oil stocks continued to build last week to levels well above the five-year average as global oversupply persists. Production in both OPEC and non-OPEC countries is beginning to decline, according to information from the IEA, but demand still has not
Plains All American Pipeline Announces Open Season for Cushing to Longview Pipeline
June 26, 2015
New pipeline expected to have initial capacity of 120 MBOP Plains All American Pipeline (ticker: PAA) announced that it is conducting an open season for committed capacity on a proposed new crude oil pipeline from Cushing, Oklahoma to Longview, Texas, according to a company press release. The company said that the open season will offer a chance for shippers to
Cushing Crude Oil Storage Utilization up 56% in Six Months
June 8, 2015
Cushing storage goes above 71,409,000 barrels of oil The Energy Information Administration (EIA) released its biannual Working and Net Available Shell Storage Capacity Report, providing a picture of refinery and storage utilization throughout the United States. The report covers utilization in every Petroleum Administration Defense District (PADD) across the U.S., but the Midwest (PADD2), which includes the storage facilities at
Is Canada’s Crude Stored at Cushing Driving Down WTI?
May 29, 2015
Cushing, Oklahoma, is the delivery point for United States West Texas Intermediate crude oil (WTI) traded on the New York Mercantile Exchange (NYMEX) and plays a large part in setting the price of crude oil in the U.S. Storage at the facilities in Oklahoma represent about 60% of all crude oil working storage capacity in the Midwest and about 19%
Cushing Inventory Still has Room, for Now
March 23, 2015
Oil inventories are at an all-time high at the Cushing delivery point in Oklahoma. Fortunately, working storage capacity is also at its highest on record, but the available space is filling up fast. In the Energy Information Administration’s (EIA) Today in Energy brief for March 23, 2015, the article details the builds in Cushing working storage capacity along with the
Enterprise Products Partners Scraps Bakken Pipeline
December 12, 2014
After offering an extension to attract more commitments, Enterprise decides not to move ahead on project In a two sentence release from the company today, Enterprise Products Partners (ticker: EPD) announced that it would not be moving forward with its proposed Bakken-to-Cushing crude oil pipeline. The project was initially announced September 4 of this year by the company, which said
Proposed Projects Would Move Colorado Oil to Oklahoma, California
September 16, 2014
Cushing, Oklahoma’s giant crude oil storage hub will be linked to Colorado’s Niobrara/Codell shale oil production upon construction and completion of a new 550-mile pipeline between Weld County Colorado’s Wattenberg field and NGL Energy Partners’ (ticker: NGL) Cushing terminal. When completed and operating, the proposed Grand Mesa Pipeline, a joint venture project proposed by NGL Energy Partners LP and Rimrock
