Tag: Cushing

Enterprise completes Cushing-to-Gulf pipeline

Enterprise Products Partners said Thursday it has constructed a 512-mile twin to its Seaway crude pipeline running from the oil-tank hub in Cushing, Okla. to the storage units on the Gulf Coast, about 60 miles south of Houston.  More »

Hedge funds retreat from record crude wagers

Speculators cut bullish bets on U.S. crude oil from a record as inventories were close to a seasonal high following the Memorial Day weekend.  More »

Oil tops $102 on signs of rise in gasoline demand

WTI rebounded last week after the EIA said crude inventories slid from 399.4 million barrels, the highest level since weekly reports were published in 1982. Supplies expanded by 912,000 barrels in the seven days ended May 9, according to the API, which collects information on a voluntary basis from operators of refineries, bulk terminals and pipelines.  More »

Moody’s: New Chinese plants could hamper global refining earnings

Cheap natural gas and oil supplies will give Gulf Coast refiners an edge in global markets, but over the next two years new plants coming online in China and the Middle East are poised to dampen worldwide demand for refined products like gasoline, according to a report released Monday.  More »

Oil hovers above $100 despite higher supplies

The price of oil remained above $100 a barrel Thursday as traders held positions after a surge the day before despite a larger-than-expected increase in oil supplies.  More »

Economist: Transport causing ‘serious logistical challenge’ for shale boom

Despite major accidents in the past year, U.S. oil companies must keep leveraging the nation’s railroads to move crude to markets while they build a much more extensive pipeline network, an energy economics professor said Tuesday.  More »

Keystone XL southern leg having major effect on US oil hub

The southern leg of the Keystone XL pipeline has drained supplies of oil at the hub of Cushing, Okla., to their lowest levels in more than two years, according to a federal report released Tuesday.  More »

Jury to weigh billion-dollar pipeline case

A dozen jurors start Monday deliberating the billion-dollar dispute among three giant oil and gas companies over a joint effort to build a pipeline from Cushing, Okla. to the Gulf Coast.  More »

Oil prices rise as market awaits US inventory data

The price of oil edged above $102 a barrel Wednesday as investors tried to assess the strength of U.S. demand with the approach of warmer weather.  More »

Speculators bullish on US oil as Keystone’s southern leg eases glut

Hedge funds became the most bullish on U.S. crude oil in more than five months as a new pipeline from Oklahoma to Gulf Coast refineries eased a supply bottleneck, driving prices above $100 a barrel.  More »

Pipeline trial kicks off as if nasty divorce case

The billion-dollar legal battle among three oil and gas giants – Energy Transfer Partners, Enterprise Products and Enbridge – that went to trial last week sounds like a bitter divorce case, complete with accusations of a lovers’ triangle.  More »

Pipeline companies head to court over partnership dispute

Energy Transfer Partners claims Houston-based Enterprise Products Partners broke its commitment to jointly build a pipeline from Okahoma to Houston and argues Canadian pipeline giant Enbridge conspired to illegally cut ETP out of the deal.  More »
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