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Thread: Oil Slick Stuff

  1. #14833

    Join Date
    Jun 2004
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    Boiled Peanut, Georgia, USA
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    Default Re: Oil Slick Stuff

    Crude Drops in Face of Gasoline Hoard Traders 'Can't Hide From'

    by Bloomberg
    |

    Jessica Summers
    |
    Wednesday, December 06, 2017

    (Bloomberg) -- Oil had its worse day in two months as a surge of gasoline supplies held in U.S. storage tanks signals refiners will need less crude.
    West Texas Intermediate oil futures slid 2.9 percent, while gasoline tumbled to its lowest in almost seven weeks. American gasoline inventories rose by 6.78 million barrels last week, the most since January, the U.S. Energy Information Administration said. That exceeded the estimates of every analyst in a Bloomberg survey and overshadowed a third weekly slide in crude stockpiles. Meanwhile, U.S. refineries boosted operating rates for a seventh straight week, contributing to the excess supplies shunted into storage.
    Although U.S. gasoline stockpiles typically expand at this time of year, last week’s increase was “a bigger number than people were looking for,” Craig Bethune, a senior portfolio manager at Manulife Asset Management, said by telephone. “Can’t hide from that.”
    Oil topped $59 a barrel last month for the first time since mid 2015 as production cuts by the Organization of Petroleum Exporting Countries and allied producers such as Russia chewed into a worldwide glut. Meanwhile, U.S. shale explorers have been a thorn in the side of the OPEC-led coalition, boosting output on an almost-weekly basis all year long.[more]

    Crude Drops in Face of Gasoline Hoard Traders 'Can't Hide From' Â |Â Rigzone



  2.  
  3. #14834

    Default Re: Oil Slick Stuff

    Been $1.95 here for last week for the crap fuel
    A wise man speaks when he has something to say...A FOOL speaks when he just has to say something

  4.  
  5. #14835

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    Boiled Peanut, Georgia, USA
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    Default Re: Oil Slick Stuff

    Quote Originally Posted by Buster View Post
    Been $1.95 here for last week for the crap fuel
    Dropped to $2.11 here in BPG!



  6.  
  7. #14836

    Join Date
    Apr 2008
    Location
    Cleveland, Ohio
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    Default Re: Oil Slick Stuff

    Regular here on the chilly North Coast around $2.15/gal.
    May the force be with us.

  8.  
  9. #14837

    Default Re: Oil Slick Stuff

    Now at $1.90
    A wise man speaks when he has something to say...A FOOL speaks when he just has to say something

  10.  
  11. #14838

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    Apr 2008
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    Cleveland, Ohio
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    Default Re: Oil Slick Stuff

    Gas prices around me have gone crazy. Between $2.05 and $2.49 per gallon, two stations within one mile of each other.
    May the force be with us.

  12.  
  13. #14839

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    Jun 2004
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    Boiled Peanut, Georgia, USA
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    Default Re: Oil Slick Stuff

    Wow! E10 ranging between $2.03 and $2.06 in BPGA.



  14.  
  15. #14840

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    Default Re: Oil Slick Stuff

    OPEC Starts Working On Oil Supply Cut Exit Strategy - Sources

    by Reuters
    |
    Alex Lawler and Rania El Gamal
    |
    Thursday, December 21, 2017

    LONDON/DUBAI, Dec 21 (Reuters) - OPEC has started working on plans for an exit strategy from its deal to cut supplies with non-member producers, two OPEC sources said, a sign that an eventual winding down of the deal is coming onto producers' radar, at least in theory.
    The Organization of the Petroleum Exporting Countries, Russia and other non-OPEC producers on Nov. 30 extended an oil output-cutting deal until the end of 2018 to finish clearing a glut. But the market is increasingly interested in how producers will exit the deal once the excess is cleared.
    Two OPEC sources said the group's secretariat in Vienna has been tasked to work on a plan with different options and it was too early now to say what the plan would look like.
    "It's a continuity strategy, rather than exit," one of the OPEC sources said.[more]

    https://www.rigzone.com/news/wire/op...52895-article/



  16.  
  17. #14841

    Default Re: Oil Slick Stuff

    Gas jumped .17/gal to $2.07
    A wise man speaks when he has something to say...A FOOL speaks when he just has to say something


  18.  
  19. #14842

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    Default Re: Oil Slick Stuff

    E10 jumped to $2.65 today- but E85 is still the better deal at $1.79 (Michigan)

  20.  
  21. #14843

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    Default Re: Oil Slick Stuff

    Seems to be about the same price of E10.

    MPG. Due to ethanol's lower energy content, FFVs operating on E85 get roughly 15% to 27% fewer miles per gallon than when operating on regular gasoline, depending on the ethanol content. Regular gasoline typically contains about 10% ethanol.



  22.  
  23. #14844

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    Default Re: Oil Slick Stuff

    E10 $2.03 a gallon in BPG!!



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