Oil Price Watch

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https://twitter.com/PlattsOil/status/359157283747397632

Platts Oil ‏*PlattsOil 14m
Front-month ICE Brent/NYXMEX crude spread below parity, first in nearly 2 years -- #crudeoil #oil

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North American oil prices surge toward global levels - The Globe and Mail

North American oil prices surge toward global levels

The Cushing logjam has broken, and with its opening, North American oil has lost the bargain-basement status it has sustained for the past two years.

Since early 2011, oil producers in the United States and Canada have suffered from large discounts in the market – the trendsetting West Texas intermediate (WTI) was priced well below international benchmark North Sea Brent, while a larger-than-normal gap opened up between WTI and Canadian heavy crude.

The boom in U.S. tight oil production, on top of growing oil sands volumes from Alberta, created a glut at Cushing, Okla., a terminus that served as a traditional pricing-point for WTI but had virtually no pipeline access to the massive refinery capacity at the Gulf Coast. As a result, companies invested heavily in new transportation – pipelines, rail cars, barges, even trucks – to move landlocked North American crude to coastal markets where it would fetch international prices.

Now, that investment in transportation is providing a big payoff. Along with the stronger economic news in the United States, the increased ability to get western oil to markets on the U.S. Gulf Coast and East Coast is credited for driving North American crude higher, even as Brent prices lag.

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brent 109.96

wti 108.63

[jresperanza]

brent 109.96

wti 108.63

i dont get it, every Tuesday na ang price changes roll back + hike?

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i didnt notice every tuesday ang adjustment pero understandable naman ang weekly adjustment coz weekly average cost ang basehan nila

[Retz]

There is a rollback in the price of gasoline fuel but diesel fuel price increases.

[Ry_Tower]

Going up?

[falken]

Going up?

I think they might increase fuel prices this midnight.

Sent from my Nexus 7 using Tapatalk 2

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the Syria premium

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depreciating EM currencies makes imported oil more expensive

the price of oil is rising

it's a double hit

EM could implode

just thinking....


(EM = emerging markets)