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Crude gains $0.26

Posted on: September 28, 2017

WTI gained 26 cents to settle at $52.14 after the API inventory draw figures came to fruition when the EIA posted a 470K barrel drop. Crude processing and refinery utilization didn't fare too badly either. The Gulf Coast production proved resilient post- Harvey and total crude processing rose by 6.6% according to Bloomberg. BNEF also posted capacity utilization now at 88.6%.

Libya, OPEC's exempt production cut member, posted gains in their production and some market participants expect 1.25m/bpd production by the end of December (current production is 950k/bpd).


Most Recent Market Updates

November 20, 2017

Natural gas gains 4.4 cents

NYMEX natural gas climbed 4.4 cents higher on Friday.

November 20, 2017

Crude gained $1.41

Crude prompt futures gained $1.41 on Friday to close the day at $56.55.

November 17, 2017

Natural gas falls 2.7 cents

NYMEX natural gas continued it’s decent on Thursday.

November 17, 2017

Crude prices slide $0.19

Crude prompt futures traded in a 69 cent range.

November 17, 2017

USDCAD range bound as Canadian CPI uneventful

Domestically we saw the biggest release of the week a few minutes ago.

November 14, 2017

Natural gas loses 5 cents

Cold weather emerged over the long weekend in the US Midwest to East as anticipated.


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