Tag: Cushing

Oil speculators bet wrong as rebound proves fleeting

After rising as analysts speculated prices had reached a floor, WTI sank again after stockpiles climbed nationally.  More »

Permian crudes weaken after Sunoco pipeline spill

Crude extracted from the largest U.S. oil field weakened against the U.S. benchmark after producers lost access to Midwest markets when a 4,000-barrel spill in Louisiana forced the shutdown of a key pipeline.  More »

New pipelines to end Midland crude discount in coming months, analyst says

The BridgeTex pipeline began its first shipments of oil from the Permian Basin to the Gulf Coast, in what could be an important step toward bringing oil prices in the Midland region back toward parity with the U.S. benchmark set in Cushing, Oklahoma.  More »

Oklahoma oil hub getting bigger with new pipelines

New pipeline projects are expanding the size of an Oklahoma crude oil hub that is already one of the most important oil storage facilities in the world.  More »

Enterprise and Kinder Morgan to gauge demand for new pipelines

Enterprise Product Partners and Kinder Morgan Energy Partners are evaluating demand for two proposed two new pipelines serving the Utica region in Ohio and the Williston Basin region of North Dakota.  More »

Plains All American to build pipeline from Cushing to Memphis

Houston-based Plains All American Pipeline LP said Thursday it plans to build a pipeline that would deliver as much as 200,000 barrels a day of crude oil to Valero’s Memphis plant when it’s completed in late 2016.  More »

Crude prices rise as supply dips

Oil prices generally rebounded Wednesday as a report by the U.S. Energy Information Administration indicated that supplies of crude oil fell through the week ending Aug. 15.  More »

Texas price gap widens as oil production rises

A backlog of Permian Basin oil sent the price of crude in Midland $19 below the U.S. benchmark during Tuesday trading morning and $21 dollars below by the end of the day, the widest gap on records that stretch back to 1991.  More »

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 »
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