Post Tagged with: "Cushing"

Source: AP/Matt Strasen

Oil falls on expectations of rising inventories at key U.S. hub

Source: Houston Chronicle


Oil declined for a second day on expectations of rising inventories at a key pricing point in Oklahoma.

Futures in New York fell as much as 1.4% after dropping 1.5% Monday. Genscape Inc. said oil stored at …

October 29, 2019 - 1:00 pm
Cushing, Okla., is one of the United States oil facilities in the Keystone Pipeline System.

TransCanada’s 4,250-kilometre (2,640 mile) Keystone Pipeline System transports approximately 20 per cent of western Canadian crude oil exports to key refineries in the U.S. Midwest and Gulf Coast, where it is converted into fuel and other useful petroleum products.

U.S. Crude Stockpiles Fall, with Cushing Down for a Seventh Week – EIA

From Reuters


U.S. crude oil stockpiles fell more than expected last week with supplies at the Cushing, Oklahoma hub dropping for a seventh week, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday.

Crude inventories fell …

August 21, 2019 - 6:01 am
Lotus Midstream Mulls Reversing West Texas to Cushing Pipeline – Sources

Lotus Midstream Mulls Reversing West Texas to Cushing Pipeline – Sources

From Reuters


Pipeline operator Lotus Midstream LLC may reverse flows on a line now sending crude from West Texas to Cushing, Oklahoma, the main hub for pricing U.S. crude futures, three people familiar with the matter said on Tuesday, an …

August 20, 2019 - 6:01 am
Oil Rises More Than 2% on Firm Yuan, Expectations of More OPEC Cuts

Oil Rises More Than 2% on Firm Yuan, Expectations of More OPEC Cuts

From Reuters


Oil jumped more than 2% on Thursday on expectations that falling prices could lead to production cuts, coupled with a steadying of the yuan currency after a week of turmoil spurred by an escalation in U.S.-China trade tensions.…

August 8, 2019 - 6:00 am
Oil Falls 3% as Trade War Concerns Hit Demand Outlook

Oil Falls 3% as Trade War Concerns Hit Demand Outlook

From Reuters


Global oil benchmark Brent futures fell more than 3% on Monday on global growth concerns after U.S. President Donald Trump last week threatened China with more tariffs, which could limit crude demand from the world’s two biggest buyers.…

August 5, 2019 - 6:02 am
Source: Plains All American Pipeline, L.P.

Anticipating More Wyoming Crude: Saddlehorn Pipeline Capacity to Expand by 50%

By Tyler Losier, Energy Reporter, Oil & Gas 360

New Ft. Laramie origin point announced, open season launched
Saddlehorn Pipeline Company, owned in part and operated by Magellan Midstream (stock ticker: MMP), is planning to expand its Saddlehorn pipeline to

July 1, 2019 - 4:13 pm
Building Boom Shows Biggest U.S. Oil Hub Hasn’t Lost Its Allure

Building Boom Shows Biggest U.S. Oil Hub Hasn’t Lost Its Allure

From Bloomberg


Over two million barrels a day of new pipe capacity planned, Storage capacity at Cushing could reach 100 million barrels

America’s largest oil hub in Cushing, Oklahoma, is growing even as producers and traders look to move surging …

June 5, 2019 - 6:21 am
Texas Gulf Coast: Get Ready for SPOT to Export Up to 2 Million More Barrels a Day of Permian, Eagle Ford Crude Oil

Texas Gulf Coast: Get Ready for SPOT to Export Up to 2 Million More Barrels a Day of Permian, Eagle Ford Crude Oil

Enterprise Products Partners' SPOT crude oil export project, offshore Texas, officially kicks off permitting phase, targets 2020 for exports
By Bevo Beaven, Editor, Oil & Gas 360

The United States Maritime Administration (MARAD) and the United States Coast Guard (USCG)

March 6, 2019 - 3:56 pm
Tallgrass Energy Announces Pony Express Pipeline Expansion

Tallgrass Energy Announces Pony Express Pipeline Expansion

Tallgrass Energy Announces Pony Express Pipeline Expansion

November 15, 2018 - 6:30 am
Oil Traders Try Crude-Pricing Alternatives

Oil Traders Try Crude-Pricing Alternatives

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 …

April 20, 2018 - 11:21 am
A Drop at Cushing Keeps Prices Afloat

A Drop at Cushing Keeps Prices Afloat

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 …

January 19, 2017 - 5:33 pm
More Volatility: Oil Price Falls as U.S. Petroleum Stocks Rise

More Volatility: Oil Price Falls as U.S. Petroleum Stocks Rise

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 …

August 24, 2016 - 5:44 pm
Cushing Full by June, Then What?

Cushing Full by June, Then What?

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 …

March 14, 2016 - 6:20 pm
Plains All American Pipeline Announces Open Season for Cushing to Longview Pipeline

Plains All American Pipeline Announces Open Season for Cushing to Longview Pipeline

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, …

June 26, 2015 - 6:10 pm
Cushing Crude Oil Storage Utilization up 56% in Six Months

Cushing Crude Oil Storage Utilization up 56% in Six Months

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 …

June 8, 2015 - 2:37 pm
Is Canada’s Crude Stored at Cushing Driving Down WTI?

Is Canada’s Crude Stored at Cushing Driving Down WTI?

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 …

May 29, 2015 - 6:15 pm
Cushing Inventory Still has Room, for Now

Cushing Inventory Still has Room, for Now

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

March 23, 2015 - 5:18 pm
Enterprise Products Partners Scraps Bakken Pipeline

Enterprise Products Partners Scraps Bakken Pipeline

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 …

December 12, 2014 - 6:47 pm
Proposed Projects Would Move Colorado Oil to Oklahoma, California

Proposed Projects Would Move Colorado Oil to Oklahoma, California

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 …

September 16, 2014 - 6:49 pm