Thu, Aug 21, 2014
A A A
Welcome kbr175@gmail.com
RSS

Commodities Briefing - Categorized | Oil, Price Watch more

What can make WTI crude oil prices to average $90/bbl in 2013

Posted on 09 May 2013

US crude oil inventories are increasing across the board. Commercial crude stocks in the US are sitting at 395 million bbls, an all-time high level and only 37 million bbls away from what Bank of America Merrill Lynch estimates to be tested maximum storage capacity.
True, stocks at Cushing, Oklahoma—the pricing point for WTI—fell to 49.8 million bbls in the last available report, briefly pushing prices above $96/bbl. But as other sites fill up, the Oklahoma hub may now hold nearly 45% or 16 million bbls of the country’s total tested spare capacity, a report from the Bank noted………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 36521 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

August 2014
S M T W T F S
« Jul    
 12
3456789
10111213141516
17181920212223
24252627282930
31