Oil Prices, Energy Trends & What Comes Next

[Davidc]

I want it to go back to one dollar per gallon.

 

[nodle]

https://i.imgur.com/qCrAamT.png

 

[jmanz]

I'd rather have the one on the right.

 

[Davidc]

Looks like a '69?

 

[jmanz]

Everybody fill up their tanks? Gas prices set to rise in the next few days due to the hurricane mess.

 

[nodle]

Everybody fill up their tanks? Gas prices set to rise in the next few days due to the hurricane mess.

Excuses, Excuses. I never get it, I thought it all flows off crude, and that is tanking.

 

[jmanz]

Excuses, Excuses. I never get it, I thought it all flows off crude, and that is tanking.

Well no. There is a good supply of oil yet since we've been pumping like crazy. Gasoline supply is different.

 

[Davidc]

I'm confused:

Oil Tumbles Amid Speculation Up To 30% Of US Refining Capacity Could Be Shut

http://www.zerohedge.com/news/2017-08-28/oil-tumbles-amid-speculation-30-us-refining-capacity-could-be-shut

 

[Davidc]

Most of you see WTI down 3% today and think Harvey didn't affect the oil trade -- but you're wrong. 321 crack spreads are blowing out because of damage to the refinery sector.Gasoline is higher by 3% today -- causing 321 cracks to blow out to its largest spread in two years. This is pure profit for refineries.

http://www.zerohedge.com/news/2017-08-28/crack-spreads-rip-two-year-highs-post-harvey

 

[jmanz]

I'm hearing we could see a 15-25 cent per gallon increase over the next few weeks for our location. And if the storm moves more to the East than originally thought, even worse. The bigger refineries are in that spot and haven't been affected yet.

 

[Davidc]

Justin E works down there in Okla at that one plant. Feller could send him an email to get more of the skinny?

 

[jmanz]

Justin E works down there in Okla at that one plant. Feller could send him an email to get more of the skinny?

Would be fascinating to get his take. One would imagine that since we can't export anything either at the moment, there should be some inventories on hand.

 

[Davidc]

Bout like the Grandforks flood of 97 down there in Houston. 

 

[nodle]

Looks like they are calling for $1 rise.

 

[Davidc]

Looks like they are calling for $1 rise.

Seems like a rip off. Any little excuse to jack us up. 

 

[nodle]

US releases 500,000 barrels of oil from strategic reserve

The U.S. Energy Department said Thursday it will release 500,000 barrels of crude oil from the Strategic Petroleum Reserve as Harvey's disruption of the petroleum industry has spiked motor fuel prices.

 

[C Pav]

Noticed gas jump 20 cents here. Not sure I can recall such a large jump that quick. Usually it's a 5 to 10 cent change.

 

[nodle]

Noticed gas jump 20 cents here. Not sure I can recall such a large jump that quick. Usually it's a 5 to 10 cent change.

Haven't checked here lately, I'll report back when I notice.

 

[nodle]

Denmark’s biggest company is selling off the country’s last oil firm as the world’s top wind turbine-producing nation transitions to renewable energy. Last month, A.P. Moller-Maersk, the famed industrial and shipping conglomerate, agreed to sell its oil and gas division to French giant Total. Pending regulatory approval, the $7.45 billion deal is expected to close by next year, Bloomberg reported.

Source

 

[nodle]

I forgot to report back, gas raised $.20 cents here. Crude is taking another dive today I see.