Bloomberg (May 2)
“Money managers turned the most bullish since May as West Texas Intermediate crude climbed to a five-month high on optimism that falling U.S. production and rising fuel demand will trim the global glut.” Their optimism may be both short-sighted and short-lived as OPEC just “boosted production by 484,000 barrels a day to 33.217 million in April, the most in monthly data going back to 1989.”
Tags: Bullish, Crude, Demand, Money managers, OPEC, Optimism, Production, U.S., West Texas Intermediate
USA Today (March 29)
“We thought the race for president couldn’t get any cruder or more embarrassing…. that was not the case.” Trump and Cruz have moved standards lower and lower. “Today’s grade-school political repartee makes us long for the days when candidates were classy instead of crude.” The majority of Republicans “are embarrassed by their party’s race for the White House.” But “it’s not just Republicans—Americans are embarrassed. If only the candidates were.”
Tags: Candidates, Crude, Cruz, Embarrassing, President, Republicans, Trump, U.S.
Bloomberg (November 25)
“Surging U.S. crude stockpiles that have filled storage tanks near capacity are widening the discount on immediate oil deliveries.” Known as contango, this discount may reach the stage of “supercontango” and is unlikely to go away soon.
Tags: Contango, Crude, Discount, Immediate deliveries, Oil, Stockpiles, Storage, U.S.
Wall Street Journal (July 7)
Amid a North American oil boom, “shipments of crude by rail have shot up sharply, as producers race to get all their new oil to market and as pipeline companies scramble to build new lines or reconfigure old ones to handle the growing volumes.” This may change. “The deadly weekend explosion of a runaway crude-carrying train in Quebec threatens to ratchet up scrutiny of rising crude-by-rail shipments on both sides of the U.S.-Canada border.”
Tags: Boom, Canada, Crude, Explosion, North America, Oil, Pipeline, Producers, Quebec, Rail, Scrutiny, U.S.
