• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 6 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 6 hours Bad news for e-cars keeps coming
  • 9 hours How Far Have We Really Gotten With Alternative Energy
  • 13 days What fool thought this was a good idea...
  • 2 days The U.S. Is Determined to Revolutionize Its Microchip Industry
  • 11 days A question...
The World’s Big Bus Electrification Plan

The World’s Big Bus Electrification Plan

Electric buses are expected to…

Europe Seeks to End Reliance on Russian Energy

Europe Seeks to End Reliance on Russian Energy

European countries, led by Germany…

Editorial Dept

Editorial Dept

More Info

Premium Content

Europe Likely To Avoid Soaring Natural Gas Prices This Winter

Natural Gas

1. Unprecedentedly Low Cushing Stocks Jeopardize Hub Operations

- Oil prices have been greatly boosted by crude inventories in Cushing, the delivery point for US WTI futures, falling to 22 million barrels, the lowest level since June 2022, potentially jeopardizing future pipeline transportation.

- Accounting for roughly 12 MMbbls of pipeline fill and storage tank bottom stocks, Cushing is left with a mere 10 MMbbls of transportable crude, with 75% of the oil hub’s storage capacity staying empty.

- Cushing oil inventories have declined for 12 out of the last 13 weeks, with seven weeks of consecutive declines, triggering fears that any further declines would debilitate pipeline transportation.

- The steepest backwardation in 2023 so far disincentivizes storage, and refinery maintenance might be Cushing’s best hope to rebuild stocks as up to 1.8 million b/d of US capacity will be going offline by mid-October.

2. Europe’s Gas Inventories “Comfortable” Before Winter

- Unprecedentedly high levels of gas inventories across the European Union, currently 95% full, combined with higher renewable generation and lower demand make Europe’s gas outlook for the winter more comfortable than last year.

- Analysts don’t expect another spike in gas prices akin to the €343 per MWh seen last August, but gas markets remain tight on the physical side and could be easily disrupted by supply shocks.

- Europe is expected to install 56 GW…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News