• 4 minutes End of Sanction Waivers
  • 8 minutes Balancing Act---Sanctions, Venezuela, Trade War and Demand
  • 11 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 14 minutes What Would Happen If the World Ran Out of Crude Oil?
  • 4 hours ..
  • 25 mins New German Study Shocks Electric Cars: “Considerably” Worse For Climate Than Diesel Cars, Up To 25% More CO2
  • 4 hours Summit: Kim, Putin To Meet Thursday in Russia’s Far East
  • 14 hours Deep Analysis: How China Is Replacing America As Asia’s Military Titan
  • 4 hours Iran Sabre Rattles Over the Straights of Hormuz
  • 12 hours Don't Climb Onto the $80+ Oil Price Greed Roller Coaster, Please.
  • 20 hours Populist Surge Coming in Europe's May Election
  • 2 hours China To Promote Using Wind Energy To Power Heating
  • 3 hours Nothing Better than Li-Ion on the Horizon
  • 24 hours Liberal Heads Explode as U.S. Senate Confirms Oil Lobbyist David Bernhardt as Interior Secretary
  • 4 mins Countries with the most oil and where they're selling it
  • 6 hours "Undeniable" Shale Slowdown?
Dan Dicker

Dan Dicker

Dan Dicker is a 25 year veteran of the New York Mercantile Exchange where he traded crude oil, natural gas, unleaded gasoline and heating oil…

More Info

Is The Window Closing On Shale Opportunities?

Colorado

The energy story this week is still centered in the aftermath of Harvey and Irma – and how those storms will continue to impact the energy markets from both a supply and demand side.

The obvious outcome in the Gulf Coast of Harvey has been a lot of crude oil waiting to be turned into product. Much of that crude was intelligently shipped into the Gulf Coast in front of the storm, swelling storage there and in Cushing. There is now a tremendous pressure among the refiners to restart operations as quickly as possible and restore product inventories moving back down the chain.

From all indications, all of that is going smoothly. There were tremendous lessons learned from super-storm Katrina and Gulf of Mexico assets were sealed tighter than a drum while refineries were also prepared to withstand the very worst. In all but a few cases, those refineries are coming back up without incident.

And the big Colonial pipeline, responsible for so much of the product transport from the Gulf towards the East is again fully loaded and back up to speed after a very short down time. In short, the refiners are back to work with few long-term consequences.

But what about the production that was sidelined by Harvey? And how are the markets going to react to the restarts?

Goldman Sachs’ analysis says that DEMAND, not supply, will be the significant outcome from the two storms. Their claim is that the sidelining of business and driving in the U.S. number…




Oilprice - The No. 1 Source for Oil & Energy News