The outage at the Syncrude Oil Sands facility and its restoration has been one of intense speculation. Suncor announced they intend to bring the initial coker into service in the second half of July 2018 and outlined a schedule for the rest.
Following last week’s record crude production and rising rig counts oil broke down under the huge $60 option line forcing delta chasing. Options and futures expiration around this week’s EIA Petroleum Inventory Report has traders nervous.
There was a time that midwest oil refineries were at the mercy of the cheaper crude from the American gulf coast, that has all changed with cheap crude flowing to them feeding record refining in the region.