Author: johnkilduff

WTI oil prices spiked, yesterday, on a delayed reaction to the news that the Keystone pipeline’s southern leg will begin carrying 700k bpd from Cushing to the Gulf, starting January 3rd. Prices rose further in early-evening trading, on a report from the API that crude oil inventories plunged 12 million barrels for the week.… Read more

Oil prices got a lift, yesterday, not just from the solid verdict on global manufacturing, but also from some geopolitical developments that raised everyone’s antennae over energy security. In Ukraine, the protests against the government’s rejection various deals with Europe, preferring the embrace of the Russian Bear (a.k.a.… Read more

Crude oil prices remain listless, hovering near $93 for WTI, and below $110 for Brent. There was another flare-up in Libya, late last week, which lent support to prices, but it seemed to do more to halt the renewed slide rather than stoke a reversal.… Read more

The glow of the Iran nuclear accord had the half –life of a gnat, in terms of affecting prices, yesterday. Out of the gate, Brent and WTI prices fell about $2.00 on Sunday night, but most of the losses were reclaimed by the end of Monday’s day session.… Read more

After a series of refinery explosions drove refined product prices higher last week, the Iran nuclear accord is certainly welcome news for consumers. Of course, the deal does throw a switch, allowing Iran to resume full exports, but more of its oil should hit the market, if we understand the easing of the insurance restrictions correctly.… Read more

Oil prices snapped back, yesterday, garnering continued strength from refinery snags and low distillate fuel inventories in the US and Europe, as we head into the peak fuel period. The latest refinery issue was reported out of Port Arthur, Texas, where Motiva’s 88k bpd gasoline cracker was reported down for maintenance.… Read more

The oil market is carefully monitoring the Iran nuclear negotiations, registering some disappointment, in the form of a rebound, over comments by US officials that a deal would be “very hard” to get this week, which echoed President Obama’s recent comments, as well.… Read more

Energy prices were headed lower, yesterday, before the sell-off was derailed by a reported explosion at Total’s large Antwerp refinery. The explosion at the 360,000 bpd killed a worker. Boiling oil remains a very dangerous business. Operations at the refinery have returned to normal except for the gasoline unit, which remains affected.… Read more

Crude oil prices are falling, again, furthering losses from yesterday, which saw a failed rally attempt back above $94 per barrel. The still front-month December WTI price has fallen below 93, eyeing keep support at $92. Chevron’s large refinery in Pascagoula, Mississippi refinery was reported to be operating normally, after a fire on Friday that killed a worker.… Read more