• 8 minutes U.S. Shale Oil Debt: Deep the Denial
  • 13 minutes WTI @ $75.75, headed for $64 - 67
  • 16 minutes Trump vs. MbS
  • 2 hours Despite pressure about Khashoggi's Murder: Saudi Arabia Reassures On Oil Supply, Says Will Meet Demand
  • 29 mins Dyson Will Build Its Electric Cars in Singapore
  • 12 hours Knoema: Crude Oil Price Forecast: 2018, 2019 and Long Term to 2030
  • 16 hours Iraq war and Possible Lies
  • 2 hours Satellite Moons to Replace Streetlamps?!
  • 2 hours Can “Renewables” Dent the World’s need for Electricity?
  • 13 hours EU to Splash Billions on Battery Factories
  • 19 hours A $2 Trillion Saudi Aramco IPO Keeps Getting Less Realistic
  • 12 hours Get on Those Bicycles to Save the World
  • 8 hours Merkel Aims To Ward Off Diesel Car Ban In Germany
  • 3 hours Aramco to Become Major Player in LNG?
  • 29 mins How Long Until We Have Working Nuclear Fusion Reactor?
  • 3 hours Why I Think Natural Gas is the Logical Future of Energy
How OPEC Can Boost Its Spare Capacity

How OPEC Can Boost Its Spare Capacity

OPEC spare capacity has been…

Davos In The Desert Could Yield $50B In Oil & Gas Deals

Davos In The Desert Could Yield $50B In Oil & Gas Deals

According to sources interviewed by…

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