• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 6 mins Would bashing China solve all the problems of the United States
  • 8 hours Yale University Epidemiologist Publishes Paper on Major Benefits of Hydroxchloroquine for High-risk Outpatients. Quacksalvers like Fauci should put lives ahead of Politics
  • 14 hours Model 3 cheaper to buy than BMW 3 series.
  • 8 hours COVID 19 May Be Less Deadly Than Flu Study Finds
  • 21 hours China to Impose Dictatorship on Hong Kong
  • 17 mins Pompeo's Hong Kong
  • 11 hours Thugs in Trumpistan
  • 2 hours China’s Oil Thirst Draws an Armada of Tankers
  • 4 hours China To Boost Oil & Gas Exploration, As EU Prepares To Commit Suicide
  • 2 days Iran's first oil tanker has arrived near Venezuela
  • 2 days Let’s Try This....
  • 2 days Chicago Threatens To Condemn - Possibly Demolish - Churches Defying Lockdown
  • 1 day 60 mph electric mopeds
U.S. Shale Is Living Beyond Its Means

U.S. Shale Is Living Beyond Its Means

CEOs of some of America’s…

China Scoops Up Cheap Nigerian Oil

China Scoops Up Cheap Nigerian Oil

Nigeria can finally let off…

Spread between WTI and Brent Increases as Cushing Overflows

Oil prices have been declining. West Texas Intermediate (WTI) crude oil (quoted in terms of delivery in Cushing, Oklahoma) has fallen to $91.97 per barrel according to Bloomberg. Prices for Brent crude has fallen to $100.39 per barrel.

However national gasoline prices have only declined to $3.64 per gallon according to gasbuddy.com (graph at bottom).

For the last few years there have been some capacity issues at Cushing (see Jim Hamilton's post Prices of gasoline and crude oil for a discussion of the issues).

As Hamilton noted:

[A]n increase in production in Canada and the central U.S. combined with a decrease in U.S. consumption has led to a surplus of oil in the central U.S. This overwhelmed existing infrastructure for cheap transportation of crude from Cushing to the coast, causing a big spread to develop between the prices of WTI and Brent.

Click here to read the full article.



Join the discussion | Back to homepage



Leave a comment

Leave a comment

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