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Energy storage still distorted from Hurricane Laura. EIA reported a draw in crude oil of -4389kbbl, a draw of of -74kbbl at Cushing. Draw in gasoline -381kbbl. US production was at 10,900 mbpd, off record high of 13.10 mbpd.
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The OPEC Monthly Oil Market Report (MOMR) for September released Monday provides OPEC's outlook for crude oil market developments for the coming year with key developments impacting oil market trends in world oil demand and supply.
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Energy storage still distorted from Hurricane Laura. EIA reported a build in crude oil of +2003kbbl, a build of of +1838kbbl at Cushing. Draw in gasoline -2954kbbl. US production was at 10,000 mbpd, off record high of 13.10 mbpd.
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Natural gas futures drifted after a larger than expected build of +70 Bcf in gas storage last week as weather changes were felt. The focus is on the gulf weather and the coronavirus effect on reopening, LNG and Mexican exports and the winter outlook for the US.
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Natural gas futures drifted after a near expected build of +35 Bcf in gas storage last week as heat continued to hit record highs temps. The focus is on the gulf weather and the coronavirus effect on reopening, LNG and Mexican exports and the winter outlook for the US.
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- Category: Energy
Energy storage was distorted from Hurricane Laura. EIA reported a draw in crude oil of -9362kbbl, a build of of +110kbbl at Cushing. Draw in gasoline -4583kbbl. US production was at 9,700 mbpd, off record high of 13.10 mbpd.
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Dual hurricanes Marco and Laura pushed natural gas futures higher after a near expected build of +45 Bcf in gas storage last week as heat continued to hit record highs temps. The focus is on the gulf weather and the coronavirus effect on reopening, LNG and Mexican exports and the winter outlook for the US.
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US crude exports could take big hit from Hurricane Laura, which is already a Category 4. Argus media reports Laura is set to make landfall near The Port of Beaumont, Texas, later Wednesday. This is the third top port hub for American crude exports.
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Energy markets focused on dual Hurricanes heading into the Gulf of Mexico. EIA reported a draw in crude oil of -4689kbbl, a draw of -279kbbl at Cushing. Draw in gasoline -4583kbbl. US production was at 10,800 mbpd, off record high of 13.10 mbpd.
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- Category: Energy
Natural gas futures rose after near expected build of +43 Bcf in natural gas storage last week as heat continued to hit record highs temps. . The focus is on the gulf weather and the coronavirus effect on reopening, LNG and Mexican exports and the winter outlook for the US.
